Economy slows to 1.1 percent growth in Q1 report
The Commerce Department data shows U.S. GDP expanding at a 1.1 percent annual pace in January through March as higher interest rates dampen housing and inventories. Consumer spending remains solid at 3.7 percent, with inventories accounting for a 2.3 point drag. The slowdown follows nine Fed rate hikes aimed at taming inflation, with banks tightening credit conditions and a housing market strain likely to persist. Analysts warn of a possible mild recession, though some expect a soft landing.
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Washington
U.S
Commerce Department
Federal Reserve
Fed
Andrew Hunter
Capital Economics
Conference Board
World food prices stay high across the globe
The article notes persistent high food costs from Nairobi to Hungary as households cut meals and diets tighten. Though global prices for grains and oils have fallen from peaks, real-world costs remain burdensome due to rent, schooling, and widespread energy, processing, and transport expenses driving core inflation.
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Hungary
Linnah
Meuni
Russia
Ukraine
United Nations
Brazil
Black Sea
United States
Europe
Ian Mitchell
Center For Global Development
Joseph Glauber
U.S. Department of Agriculture
European Union
U.K
Glauber
Meta lifts Wall Street on strongest day since January
Wall Street rallied with the S&P 500 up 2 percent and the Dow up 524 points as Meta Platforms surged 13.9 percent after beating profit estimates and guiding revenue above forecasts. Microsoft Alphabet and Amazon also reported solid results while Hasbro and Comcast posted gains. The jobs data suggested resilience in the labor market and inflation remained hotter than hoped. Investors see potential for another Federal Reserve rate hike amid mixed economic signals.
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New York
Wall Street
Meta
U.S
Facebook
Microsoft
Alphabet
U.S. airlines optimistic on summer profits
Major carriers forecast a profitable second quarter as demand rebounds and leisure travel remains strong. American Airlines posted a $10 million first quarter profit while Southwest, hurt by a December meltdown, reported a $159 million loss but regained momentum in March. Delta and United posted losses but projected robust summer demand, with overseas travel surging and bookings improving after recent banking worries.
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U.S
American Airlines
Southwest Airlines
Delta Air Lines
United Airlines
American
Robert Isom
Ryan Green
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Delta
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