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Fitch Maintains AA+ Rating for U.S. Amid Stable Outlook

Credit ratings agency Fitch has maintained its AA+ long-term foreign currency sovereign credit rating for the United States. Despite projecting that the United States economy would grow at a shrinking rate in 2024, Fitch has maintained a "stable" outlook for the economy, which has...

U.S. Futures Decline Ahead of Inflation Report

Futures on the New York Stock Exchange declined on Wednesday ahead of a crucial inflation report that is expected to provide insight into the Federal Reserve's monetary policy, and in particular, the timing of its interest rate cuts. Contracts listed on the Dow Jones Industrial...

Jobless Claims Hit Lowest Level Since September 2022

The US Labor Department reported on Thursday that jobless claim applications fell to 187,000 for the week ending January 13; a decline of 16,000 claims from the previous week. This is the lowest level of applications for unemployment benefits reported since September 2022. On a...

Inflation Expectations Sink to Lowest Level in Two Years

The latest consumer sentiment survey from the University of Michigan showed that U.S. consumers are expecting inflation to be 3.1% in a year; a rapid decline from the 4.5% expected last month. This is the strongest consumer confidence exhibited since March 2021, just slightly...

Fed Chairman Jerome Powell Says There Will Be No Interest Rate Cuts Soon

There has been an overwhelming optimism among investors that the Federal Reserve is done with its interest rate hikes, as recent stock market trends show. Some even believed that interest rate cuts could follow soon. However, that won't be the case, according to Fed...

U.S. GDP Growth Hits 5.2% in Third Quarter

U.S. economic growth for the third quarter of 2023 hit 5.2% on an annual basis, outperforming the government's expectation of 4.9% growth. This is a sharp rise from the 2.1% economic growth attained from April through June as well as the largest U.S. GDP...