Strong Hiring Reinforces a Sturdy Job Market

Tesla winding down Cybertruck production

Elon Musk announced Friday that Tesla will wind down production of its Cybertruck next year after years of poor sales for the electric truck. In a post on the social platform X, the Tesla CEO said Cybertruck production will wind down at Gigafactory Texas in mid-2027 "to make room for increased Cybercab production." The Texas...

Tesla winding down Cybertruck production

Elon Musk announced Friday that Tesla will wind down production of its Cybertruck next year after years of poor sales for the electric truck. In a post on the social platform X, the Tesla CEO said Cybertruck production will wind down at Gigafactory Texas in mid-2027 "to make room for increased Cybercab production." The Texas...

Fed's Williams says inflation too high, targets 2 percent

John Williams, the president of the Federal Reserve Bank of New York, said Friday inflation remains too high amid multiple price shocks. "Inflation is absolutely too ​high. It's been too high for too long," Williams said at a ​European Central Bank conference in Germany. He later added, "It's absolutely essential that we bring inflation back...

Fed's Williams says inflation too high, targets 2 percent

John Williams, the president of the Federal Reserve Bank of New York, said Friday inflation remains too high amid multiple price shocks. "Inflation is absolutely too ​high. It's been too high for too long," Williams said at a ​European Central Bank conference in Germany. He later added, "It's absolutely essential that we bring inflation back...

Trump on stock market losses: 'You only have yourselves to blame'

President Trump said the stock market “suffered one of the Worst Days in History” on Thursday, a day after it surged following Democrats’ sweeping victories in the midterm elections. The Dow Jones Industrial Average went up by 1,104 points on Wednesday after the opening bell. But on Thursday, it dropped by more than 2,100 points from...

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Stable Labor Market Keeps Fed on Track to Raise Rates Gradually

The Federal Reserve decided against raising interest rates at its meeting last week, but it is widely expected to move again in December to help tame inflation.

US economy added 165,000 jobs in October, beating expectations

The U.S. economy added 165,000 jobs in October, according to new data from the Bureau of Labor Statistics (BLS). The unemployment rate also decreased slightly to 4.1 percent, the BLS reported. Unemployment has been below 5 percent for more than five years, after soaring to nearly 15 percent in the early stages of the COVID-19...

Democrats rode rural frustration to Senate wins. Now farmers want results

Democrats flipped Senate seats in previously deep-red territory such as Kansas and Texas in part by criticizing Trump administration policies that helped create high diesel and beef costs. Now they're going to be under pressure to deliver for farmers, who want the party to put words into actions once they take control of the House...

Meta, TikTok, Google sue California over child online safety restrictions

Meta, TikTok and Google filed separate lawsuits against California over a new law seeking to tighten restrictions on child social media usage, arguing the legislation violates the companies’ First Amendment rights.  California’s bipartisan “Digital Age Assurance Act,” which goes into effect Jan. 1, bans social media platforms in the Sunshine State from providing “an addictive...

Markets tank after post-Election Day surge

Stocks nosedived Thursday, one day after rallying on the heels of Democrats’ resounding midterm victories. The Dow Jones Industrial Average tumbled by more than 2,100 points from the opening bell and closed down by 1,833 points relative to the end of trading Wednesday. The Nasdaq composite and S&P 500 were respectively down by roughly 1,422...

Markets tank after post-Election Day surge

Stocks nosedived Thursday, one day after rallying on the heels of Democrats’ resounding midterm victories. The Dow Jones Industrial Average tumbled by more than 2,100 points from the opening bell and closed down by 1,833 points relative to the end of trading Wednesday. The Nasdaq composite and S&P 500 were respectively down by roughly 1,422...