Economy

All three major indexes surged to record highs Wednesday after new data showed that inflation cooled in April after ticking up recently.

Americans remain historically gloomy about the state of the housing market.

Retailers are feeling jittery. Consumers aren’t shopping like they used to. In a game of chicken between stores and shoppers, it’s the stores that appear to be yielding first, by dropping prices on thousands of products.

By Samantha Delouya, CNN (CNN) — Elevated interest rates and pricier listings have made it even harder to afford a new home. But there is an often-overlooked expense when buying a home: closing costs. These costs, which are the fees owed on the day you finalize the purchase of a home, have risen in recent

By Nicole Goodkind, CNN New York (CNN) — US stocks soared Friday after new data showed that US job growth slowed considerably last month. After surging by more than 500 points after the opening bell, the blue-chip Dow closed 450 points higher, or 1.2%; the S&P 500 rose 1.3% and the tech-heavy Nasdaq gained 2%.

US home-price growth accelerated in February at the fastest annual pace since November 2022, a sign that America’s housing market remains tough amid elevated mortgage rates.

Inflation may have tumbled from multi-decade highs on both sides of the Atlantic, but progress has stalled in the United States, with the Federal Reserve now expected to start cutting interest rates well after its European counterpart.

Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending.

By Bryan Mena, CNN Washington (CNN) — Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high. Pending home sales — a forward-looking indicator based on contract signings rather

By Nicole Goodkind, CNN New York (CNN) — US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected. The Dow fell by 375 points, or 1%; the S&P 500 was down 0.5% and the

Sales of newly built single-family homes in the United States soared in March despite mortgage rates remaining elevated that month.

Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. That’s striking because disappointing inflation reports have thrown Wall Street into a tailspin.

A key US inflation gauge increased last month at its fastest pace since April 2023, showing that underlying price pressures remain persistent.

By Alicia Wallace, CNN (CNN) — Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer. US consumer prices picked up again last month, vaulting to a 3.5% increase for the

Progress on inflation is moving in the wrong direction.

Nathan Frederiksen is doing pretty well for himself.

For the past 50 years, the US unemployment rate has mostly been far above 4%, even rocketing to almost 15% during the pandemic.

Demand for workers in the US picked up slightly in February in a sign that the job market remains on strong footing, though layoffs also ticked up that month.

Listing your home in the spring used to be a no-brainer. But a major real estate shakeup is complicating the equation.