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Wall Street breaks 7-week losing streak

NEW YORK — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5 percent and finished 6.6 percent higher for the week, its best weekly gain since November 2020. The Dow Jones Industrial Average rose 1.8 percent and the tech-heavy Nasdaq gained 3.3 percent. The strong finish for the week came as investors received potentially encouraging news about inflation. The Commerce Department said that inflation rose 6.3 ...

Prepare for sticker shock if you are traveling this summer

DALLAS — Airlines and tourist destinations are expecting monster crowds this summer as travel restrictions ease and pandemic fatigue overcomes lingering fear of contracting COVID-19 during travel. Many forecasters believe the number of travelers will match or even exceed levels in the ...

Congressional Budget Office says inflation to last into 2023

WASHINGTON — The Congressional Budget Office released an economic outlook Wednesday saying high inflation will persist into next year, likely causing the federal government to pay higher interest rates on its debt. The nonpartisan agency expects the consumer price index to rise 6.1 percent ...

Powell: ‘Soft’ economic landing may be out of Fed’s control

WASHINGTON — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell ...

Facebook, Instagram to reveal more on how ads target users

WASHINGTON — Facebook parent Meta said it will start publicly providing more details about how advertisers target people with political ads just months ahead of the U.S. midterm elections. The announcement follows years of criticism that the social media platforms withhold too much ...

Final-hour rally yanks Wall Street from maw of bear market

NEW YORK — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20 percent below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much as 2.3 percent for the day before a furious comeback in the final hour of trading sent it to a tiny gain of less than 0.1 percent. It finished 18.7 percent below its record, set on Jan. 3. The tumultuous trading capped a seventh straight losing week, its longest such streak since the dot-com bubble was deflating ...