US stocks edge higher as bond yields ease
US stocks recovered from early losses to close slightly higher on Thursday, with the S&P 500 bouncing from a two-week low as a global bond selloff reversed course after sending US Treasury yields to multi-decade highs. Stocks were under pressure in early trading as economic data kept pointing to a solid economy with persistent price pressures that stoked fears that inflation could ultimately force the Federal Reserve to become more aggressive with rate hikes. The US Labor Department said weekly initial jobless claims dipped to 197,000, below the 200,000 forecast of economists polled by Reuters. It was the latest in a string of reports this week that indicated the labour market was on solid footing, ahead of the government payrolls report on Friday. Treasury yields extended gains, and the benchmark 10-year Treasury note hit a 24-year high, after closing out September with its biggest quarterly gain since 1994, and pushed equities lower after the Institute for Supply Management said its manufacturing PMI dipped to 54.5 last month from 54.6 in August and showed a jump in input prices, raising inflation worries. But yields turned lower as buyers stepped in, and further declined after Fed Vice Chair Philip Jefferson suggested the central bank may be...
Read full articleMore News
Clara Wu Tsai, the Billionaire Who Wants Brooklyn to Win
Clara Wu Tsai, a co-owner of the Liberty, is hoping the W.N.B.A. team pulls through tonight. She also has ambitions for the borough beyond more championships.
Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections
The $500 checks are accompanied by a letter signed by the president that criticizes the Biden administration for overcharging Americans for health insurance.
Burnham promises to curb non-compete rules in job contracts
The prime minister says restrictions on what workers can do after leaving roles have "gone too far".
Whistle-Blower Says I.R.S. Leaked His Tax Records in Retaliation
Brian J. Visalli, a veteran investigator of tax fraud, said in a lawsuit that the agency had sent his personal and tax information to federal prosecutors.
Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned
The Court of Appeal quashes the conviction of Christian Bittar, a former Deutsche Bank trader jailed in 2018.
Highest Mortgage Rates in 3 Years Chills the Housing Market
The average 30-year fixed-rate mortgage rose to 7.4 percent, putting more pressure on Americans struggling to afford to buy a home.
Airlines Are Upgrading Wi-Fi. Not All Are Using Elon Musk’s Service.
Mr. Musk, whose company SpaceX owns Starlink, has attacked the top executive of Delta Air Lines for not selecting the internet provider.
Anthropic bans users from being 'cruel' to its AI systems
The firm said users can no longer engage in "sustained and needless" abusive behaviour towards the tech.
The Fallout From OpenAI’s Revenue Surprise
News that the artificial intelligence giant’s sales weren’t growing as fast as investors had expected added to concerns about the A.I. boom.
Why are there so many sports subscriptions?
Pete Oliver of DAZN explains why the is a growing number of sports subscriptions and why they are getting more expensive.
I've been with my boyfriend for two years and don't know his salary
Talking about salary, spending habits and debt can be some of dating's trickier conversations.
Fired OpenAI researchers say they were let go for 'prioritising safety'
The AI firm instead claims the researchers were fired for mishandling sensitive information.