Support OvichNews

OvichNews
OvichNews

Business

Live

US consumer confidence deteriorates in April

US consumer confidence deteriorates in April

People ride on the elevator as shoppers show up early for the Black Friday sales at the King of Prussia shopping mall in King of Prussia, Pennsylvania, U.S. November 26, 2021. REUTERS/Rachel Wisniewski/File Photo Purchase Licensing Rights

U.S. consumer confidence deteriorated in April, falling to its lowest level in more than 1-1/2 years amid worries about the labor market and income, a survey showed on Tuesday.

The Conference Board said that its consumer confidence index fell to 97.0 this month, the lowest level since July 2022, from a downwardly revised 103.1 in March. Economists polled by Reuters had forecast the index little changed at 104.0 from the previously reported 104.7 "Confidence retreated further in April as consumers became less positive about the current labor market situation, and more concerned about future business conditions, job availability, and income," said Dana Peterson, chief economist at the Conference Board in Washington. "According to April's write-in responses, elevated price levels, especially for food and gas, dominated consumer’s concerns, with politics and global conflicts as distant runners-up." Consumers' inflation expectations were unchanged at 5.3%.

source: REUTERS

Create an account or log into your account to leave a comment

Comments

More on Business

Stories you might have missed on Business

Texas federal judge blocks updated fair lending rules
1 April 2024Texas federal judge blocks updated fair lending rules

A federal judge in Texas on Friday blocked enforcement of new regulations adopted during the Biden administration that sought to overhaul how lenders extend loans and other services to low- and moderate-income Americans.

Read More
Blackwells, in proxy fight with Disney, sues Disney over disclosure in hedge fund relationship
29 March 2024Blackwells, in proxy fight with Disney, sues Disney over disclosure in hedge fund relationship

Blackwells Capital upped the pressure on Walt Disney (DIS.N), opens new tab in a long-running boardroom battle, suing the entertainment giant on Thursday for information that may point to possible disclosure violations in dealings with hedge fund ValueAct Capital.

Read More
Investors eye Fed rate cut, earnings as key to sustaining market rally
29 March 2024Investors eye Fed rate cut, earnings as key to sustaining market rally

After a stellar start to the year for stocks, investors are on guard for potential bumps in the second quarter as they gauge whether the Federal Reserve delivers on an expected interest rate cut by June and turn their focus on the health of upcoming earnings.

Read More
Fed's balancing act could see June rate cut in play even with sticky inflation
29 March 2024Fed's balancing act could see June rate cut in play even with sticky inflation

Federal Reserve Chair Jerome Powell says the central bank is not growing more tolerant of higher inflation even though the latest policymaker projections raised the inflation outlook for the year without triggering a tougher monetary-policy response.

Read More
Texas judge transfers lawsuit over card fees to Washington, D.C.
29 March 2024Texas judge transfers lawsuit over card fees to Washington, D.C.

A federal judge in a Texas court that has become a favorite for conservative challenges to Biden administration policies transferred a lawsuit challenging a rule curbing credit card late fees to a court in Washington, D.C. on Thursday.

Read More
Fallen 'Crypto King' Sam Bankman-Fried gets 25 years for fraud
29 March 2024Fallen 'Crypto King' Sam Bankman-Fried gets 25 years for fraud

Sam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.

Read More
US cryptocurrency ETF inflows pick up as bitcoin price recovers
28 March 2024US cryptocurrency ETF inflows pick up as bitcoin price recovers

Inflows into the nine recently launched exchange-traded funds (ETFs) tied to bitcoin have resumed their upward trajectory this week after the cryptocurrency's price bounced back from its dip last week.

Read More
In the Market: Fed piloting another tricky soft-landing
28 March 2024In the Market: Fed piloting another tricky soft-landing

The Fed is close to delivering a rare soft landing for the U.S. economy but it faces yet another fraught challenge: reducing cash in the financial system without disrupting markets.

Read More
Morning Bid: Unrushed Fed sees out buoyant Q1, dollar revs up
28 March 2024Morning Bid: Unrushed Fed sees out buoyant Q1, dollar revs up

A look at the day ahead in U.S. and global markets from Mike Dolan

Read More
Exclusive: China's WuXi AppTec shared US client's data with Beijing, US intelligence officials told senators
28 March 2024Exclusive: China's WuXi AppTec shared US client's data with Beijing, US intelligence officials told senators

U.S. intelligence officials in late February told senators working on a biotech security bill that Chinese pharmaceutical firm WuXi AppTec (603259.SS), opens new tab had transferred U.S. intellectual property to Beijing without consent, according to two sources.

Read More
Baltimore bridge port blockade won't trigger new supply chain crisis, experts say
27 March 2024Baltimore bridge port blockade won't trigger new supply chain crisis, experts say

The catastrophic bridge collapse that closed the Port of Baltimore to ship traffic is unlikely to trigger a major new U.S. supply chain crisis or spike goods prices, due to ample and growing spare capacity at competing East Coast ports, economists and logistics experts say.

Read More
US solar factories strike deal to produce 'Made in USA' panels
27 March 2024US solar factories strike deal to produce 'Made in USA' panels

Two small solar manufacturers on Wednesday said they are joining forces to make panels that will enable their customers, U.S. solar project developers, to collect on a lucrative new federal subsidy for American-made clean energy equipment.

Read More

Ninja: Twitch's biggest gamer shares cancer diagnosis

Ninja: Twitch's biggest gamer shares cancer diagnosis

US streamer Tyler "Ninja" Blevins has revealed he has been diagnosed with melanoma, a form of

Trump's media company shares jump ahead of backdoor Nasdaq debut

Trump's media company shares jump ahead of backdoor Nasdaq debut

Shares of Donald Trump's media and technology company jumped nearly 20% before the bell on Tuesday

Tesla offers U.S. customers a month's trial of its driver-assist technology

Tesla offers U.S. customers a month's trial of its driver-assist technology

Electric carmaker Tesla (TSLA.O), opens new tab will offer U.S. customers a month's free trial of

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis

Boeing Co (BA.N), opens new tab CEO Dave Calhoun will step down by year-end, in a

Intel prepares for $100 billion spending spree across four US states

Intel prepares for $100 billion spending spree across four US states

Intel (INTC.O), opens new tab is planning a $100 billion spending spree across four U.S. states

Musk defends his ketamine use as beneficial for investors in new video

Musk defends his ketamine use as beneficial for investors in new video

CEO Elon Musk said his ketamine prescription was beneficial for Tesla's (TSLA.O), opens new tab investors

US stocks may not be in a bubble, but a pullback could be near

US stocks may not be in a bubble, but a pullback could be near

Some market participants believe the relentless U.S. stock rally is poised for a breather, even if

Boeing whistleblower found dead of apparent suicide

Boeing whistleblower found dead of apparent suicide

John Barnett, a former Boeing (BA.N), opens new tab employee who had reportedly raised concerns about

Adidas posts first loss in 30 years and warns on US

Adidas posts first loss in 30 years and warns on US

German sportswear giant Adidas (ADSGn.DE), opens new tab posted its first annual loss in more than

US House to vote to force ByteDance to divest TikTok or face ban

US House to vote to force ByteDance to divest TikTok or face ban

The U.S. House of Representatives plans to vote on a bill on Wednesday that would give

US inflation edges up as Fed debates interest rate cuts

US inflation edges up as Fed debates interest rate cuts

The inflation rate in the US picked up in February, as prices for petrol and housing

Boeing whistleblower John Barnett found dead in US

Boeing whistleblower John Barnett found dead in US

A former Boeing employee known for raising concerns about the firm's production standards has been found

US senators seek to reallocate government spectrum to boost 5G networks

US senators seek to reallocate government spectrum to boost 5G networks

Two top Republican senators are introducing legislation on Monday that would require some U.S. government-owned

Bitcoin price briefly tops $69,000 for new all-time high

Bitcoin price briefly tops $69,000 for new all-time high

The price of the world's largest cryptocurrency, Bitcoin, briefly hit a new all-time high of more

Facebook and Instagram restored after outages

Facebook and Instagram restored after outages

Meta says it has resolved a "technical issue" which caused Facebook, Messenger and Instagram to go

Fed's Powell to set election year stage with testimony on rate cuts, inflation

Fed's Powell to set election year stage with testimony on rate cuts, inflation

With asset values from stocks to crypto to homes piling higher, inflation still considered too high,

Elon Musk sued by former Twitter executives over $128m unpaid severance

Elon Musk sued by former Twitter executives over $128m unpaid severance

Elon Musk is facing a lawsuit from Twitter's former top brass, who say he owes them

Wendy's denies plans for surge pricing after backlash

Wendy's denies plans for surge pricing after backlash

The firm had told investors this month that it was rolling out digital menu displays at

United Steelworkers signs non-disclosure agreement with Nippon Steel

United Steelworkers signs non-disclosure agreement with Nippon Steel

The United Steelworkers (USW) signed a non-disclosure agreement with Nippon Steel (5401.T), opens new tab, the

FAA closes investigation into SpaceX Starship explosion

FAA closes investigation into SpaceX Starship explosion

The U.S. Federal Aviation Administration said Monday it has closed the investigation into an explosion during

Morning Bid: Markets brace for inflation trifecta

Morning Bid: Markets brace for inflation trifecta

A look at the day ahead in European and global markets from Wayne Cole

AT&T to credit customers a full day of service for Thursday outage

AT&T to credit customers a full day of service for Thursday outage

AT&T (T.N), opens new tab will credit customers a full day of service for the carrier's

Moon landing: US clinches first touchdown in 50 years

Moon landing: US clinches first touchdown in 50 years

A spacecraft built and flown by Texas-based company Intuitive Machines landed near the moon's south

US IRS trains tax-audit sights on personal use of corporate jets

US IRS trains tax-audit sights on personal use of corporate jets

The Internal Revenue Service said on Wednesday it plans to crack down on wealthy executives who

Boeing 737 Max boss out after blowout

Boeing 737 Max boss out after blowout

The leader of Boeing's troubled 737 Max programme is to leave the company, which has been

US asset managers ready for China recovery with products stacked up

US asset managers ready for China recovery with products stacked up

Three straight years of losses from Chinese markets and anti-Beijing rhetoric from Washington have not deterred

Goldman Sachs lifts 2024 S&P 500 target to 5,200 on upbeat profit outlook

Goldman Sachs lifts 2024 S&P 500 target to 5,200 on upbeat profit outlook

Goldman Sachs raised its year-end target for the benchmark S&P 500 (.SPX), opens new tab to

US to soften tailpipe rules, slow EV transition through 2030

US to soften tailpipe rules, slow EV transition through 2030

U.S. President Joe Biden's administration is set to ease proposed yearly requirements through 2030 of its

Amazon founder Jeff Bezos sells shares worth over $4bn

Amazon founder Jeff Bezos sells shares worth over $4bn

Multi-billionaire Jeff Bezos has sold more of his shares in Amazon, bringing the total value of

US January deficit drops sharply as receipts grow, tax refunds fall

US January deficit drops sharply as receipts grow, tax refunds fall

The U.S. federal budget deficit fell sharply in January to $22 billion as receipts hit a

Exclusive: Peter Thiel’s Founders Fund made $200 million crypto investment before bull run

Exclusive: Peter Thiel’s Founders Fund made $200 million crypto investment before bull run

Founders Fund, the venture capital firm founded by billionaire Peter Thiel, is investing once again in

Exclusive: Trump's media deal partner nears $50 million financing -sources

Exclusive: Trump's media deal partner nears $50 million financing -sources

Digital World Acquisition Corp (DWAC.O), opens new tab, the blank-check acquisition company that has agreed to

Exclusive: Duke Energy to remove Chinese battery giant CATL from Marine Corps Base

Exclusive: Duke Energy to remove Chinese battery giant CATL from Marine Corps Base

Under pressure from Congress, U.S. utility company Duke Energy (DUK.N), opens new tab plans to decommission

US FAA wants air carriers to boost aviation info sharing

US FAA wants air carriers to boost aviation info sharing

The head of the U.S. Federal Aviation Administration (FAA) met with airline CEOs on Wednesday and

Exclusive: SoftBank-backed Cohesity to buy Veritas data security unit, create $7 billion firm

Exclusive: SoftBank-backed Cohesity to buy Veritas data security unit, create $7 billion firm

U.S. data security software firm Cohesity told Reuters on Wednesday it has agreed to acquire Veritas'

Exclusive: Microsoft in talks to end trade body's cloud computing complaint

Exclusive: Microsoft in talks to end trade body's cloud computing complaint

Microsoft (MSFT.O), opens new tab is in talks with CISPE in an attempt to resolve its

Snap tumbles as ad sales lag larger rivals

Snap tumbles as ad sales lag larger rivals

Snap (SNAP.N), opens new tab tumbled 31% on Wednesday after fourth-quarter revenue missed Wall Street expectations,

HEDGE FLOW Global hedge funds remain short, ready for further US banking turmoil -JPMorgan

HEDGE FLOW Global hedge funds remain short, ready for further US banking turmoil -JPMorgan

Global hedge funds were poised to profit from the plunge that occurred in U.S. regional banking

New quality glitch to delay some Boeing 737 MAX deliveries

New quality glitch to delay some Boeing 737 MAX deliveries

Boeing Co (BA.N), opens new tab said on Sunday it will have to do more work

Mattel draws activist investor seeking changes at toymaker

Mattel draws activist investor seeking changes at toymaker

Activist investor Barington Capital is pushing toymaker Mattel (MAT.O), opens new tab to effect big changes

Elon Musk bashed by heavy metal drummer who cost him $56 billion

Elon Musk bashed by heavy metal drummer who cost him $56 billion

Elon Musk suffered one of the biggest legal losses in U.S. history this week when the

Tech CEOs told 'you have blood on your hands' at US Senate child safety hearing

Tech CEOs told 'you have blood on your hands' at US Senate child safety hearing

U.S. senators on Wednesday grilled leaders of the biggest social media companies and said Congress must

Elon Musk sees $56bn Tesla pay deal cancelled in court

Elon Musk sees $56bn Tesla pay deal cancelled in court

A judge in the US state of Delaware has annulled a $55.8bn (£44bn) pay deal awarded

UPS to cut 12,000 jobs after 'disappointing' year

UPS to cut 12,000 jobs after 'disappointing' year

Parcel delivery firm UPS has said it will cut 12,000 jobs, after it was hit by

Microsoft says AI is getting deployed 'at scale'

Microsoft says AI is getting deployed 'at scale'

Microsoft sales accelerated in the final months of 2023, lifted by demand for its artificial intelligence

US Senate panel urges Treasury Dept to make tech firms comply with sanctions

US Senate panel urges Treasury Dept to make tech firms comply with sanctions

The U.S. Treasury Department should do more to ensure that major tech firms, including Meta Platforms

Elon Musk announces first Neuralink wireless brain chip implant

Elon Musk announces first Neuralink wireless brain chip implant

Tech billionaire Elon Musk says his Neuralink company has successfully implanted one of its wireless brain

Investors see Microsoft's stock market value leaving Apple behind

Investors see Microsoft's stock market value leaving Apple behind

Microsoft's early lead in artificial intelligence has the software heavyweight's stock market value poised to pull

US to announce billions in subsidies for advanced chips -WSJ

US to announce billions in subsidies for advanced chips -WSJ

President Joe Biden's administration is expected to award billions of dollars in subsidies in coming weeks

US National Security Agency buys web browsing data without warrant, letter shows

US National Security Agency buys web browsing data without warrant, letter shows

The U.S. National Security Agency buys Americans' internet browsing information from commercial brokers without a warrant,

Biden pauses approval of new LNG export projects in win for climate activists

Biden pauses approval of new LNG export projects in win for climate activists

President Joe Biden paused pending approvals of exports from new liquefied natural gas projects on Friday,

Tesla warns of 'notably lower' sales growth in 2024

Tesla warns of 'notably lower' sales growth in 2024

Tesla is forecasting a sharp sales slowdown this year, becoming the latest car company to warn

737 Max 9: Boeing jets cleared to fly after mid-air incident

737 Max 9: Boeing jets cleared to fly after mid-air incident

The US aviation regulator says it will allow Boeing's 737 Max 9 jets to resume flying

U.S. Treasury approves $228 mln for New York state internet projects

U.S. Treasury approves $228 mln for New York state internet projects

The U.S. Treasury said on Monday it had approved more than $228 million in funding for

Iowa sues TikTok alleging parents misled about inappropriate content

Iowa sues TikTok alleging parents misled about inappropriate content

Iowa's attorney general on Wednesday sued TikTok, accusing the video-based social media platform of misleading parents

Apple watch: US upholds ban on sale over patent dispute

Apple watch: US upholds ban on sale over patent dispute

Apple has once again been banned from selling two smartwatch models in the US, while a

Billionaire backers of new California city reveal map, details of proposed development

Billionaire backers of new California city reveal map, details of proposed development

SAN FRANCISCO (AP) — Promoters of a secretive Silicon Valley-backed ballot initiative to build a new

More CEOs fear their companies won’t survive 10 years as AI and climate challenges grow, survey says

More CEOs fear their companies won’t survive 10 years as AI and climate challenges grow, survey says

LONDON (AP) — More executives are feeling better about the global economy, but a growing number

Africa’s biggest oil refinery begins production in Nigeria with the aim of reducing need for imports

Africa’s biggest oil refinery begins production in Nigeria with the aim of reducing need for imports

ABUJA, Nigeria (AP) — Africa’s biggest oil refinery has begun production in Nigeria, the company has

Stocks slump, dollar gains on rate outlook jitters

Stocks slump, dollar gains on rate outlook jitters

SINGAPORE, Jan 16 (Reuters) - Asian shares hit a one-month low, U.S. stock futures fell and

From housing to energy to food, US inflation picks up, though some costs rise only mildly

From housing to energy to food, US inflation picks up, though some costs rise only mildly

WASHINGTON (AP) — Higher energy and housing prices boosted overall U.S. inflation in December, a sign

Starbucks sued for allegedly using coffee from farms with rights abuses while touting its ‘ethical’ sourcing

Starbucks sued for allegedly using coffee from farms with rights abuses while touting its ‘ethical’ sourcing

A consumer advocacy group is suing Starbucks, the world’s largest coffee brand, for false advertising, alleging

Inflation ticked up to 3.4% in December while Americans grow more confident about the economy

Inflation ticked up to 3.4% in December while Americans grow more confident about the economy

Inflation climbed from 3.1% to 3.4% in December, a sign the Federal Reserve will continue to

US was top LNG exporter in 2023 as hit record levels

US was top LNG exporter in 2023 as hit record levels

U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking