Yahoo Finance - Stock Market Live, Quotes, Business & Finance News

Economic News and Analysis

The latest news and analysis about the health of the US economy.

US Judge Resets Bidding for Oil Refiner Citgo, Creating Competition for Elliott

(Bloomberg) -- A US judge reset the bidding process for the parent company of Citgo Petroleum Corp. late Tuesday, a move that is poised to create competition for Elliott Investment Management’s pursuit of the oil refiner. Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusJudge Leonard Stark ordered the bidding for the company to be reopened, allowing for

Bloomberg 23 hours ago

XOM

Oil Rises to End 2024 Little Changed as Traders Brace for Glut

(Bloomberg) -- Oil rose in thin holiday trading to close out a flat performance in 2024 as the market braces for a global surplus next year.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusWest Texas Intermediate rose 1% to settle at $71.72 a barrel, notching a 7-cent gain in 2024. Brent advanced 0.3% to settle at $74.64, down 3.1% for the year. Crude a

Dollar Gains as Fed Rate-Cut Rethink Fuels Best Year in Nine

(Bloomberg) -- The US dollar rose Tuesday, capping its strongest yearly advance in nearly a decade as the solid US economy and President-elect Donald Trump’s tax-cut and tariff policies promise to keep interest rates elevated.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusThe gain drove the Bloomberg Dollar Spot Index to the highest since November 202

Wall Street’s predictions for the market and economy in 2025

It’s unlikely 2025 will repeat the massive gains of 2024, but it’s a far cry from early recession fears.

Ample supply, slow demand to temper oil price gains in 2025:Reuters poll

Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday. The survey of 31 economists and analysts predicted that Brent crude would average $74.33 per barrel in 2025, down from a forecast of $74.53 in November, marking an eighth straight downward revision. The global benchmark Brent crude has averaged around $80 a barrel so far this year and was poised for a 3% yearly decline on weakening demand stemming from top importer China.

Wall Street is concerned about an inflation resurgence in 2025

Inflation has remained stubbornly elevated. Here's why economists are concerned sticky price increases could continue next year.

Americans are less confident about where the US economy is headed

The potential impact of President-elect Donald Trump's policies remained top of mind for consumers in December, per the Conference Board.

Wall Street reevaluates 'higher for longer' rates post Fed meeting: What to know this week

Investors will contend with a host of challenges, from turmoil in Washington to a more hawkish stance from the Fed.

Why a housing market 'thaw' never came in 2024

Wall Street analysts had hoped the housing market would show signs of life in 2024. Instead, it remained stagnant: Sales of previously owned homes are poised to set the record for the worst year since 1995 for the second year in a row.

Fed rate cut dissenter Beth Hammack says 'there is more work to do on inflation'

The lone dissenter to the Federal Reserve’s rate cut this week said she voted against the move because "there is more work to do on inflation," noting that she preferred to pause given the strength of the US economy.

Fed's preferred inflation gauge shows price increases fell in November

November's Personal Consumption Expenditures report is the latest data point that will shape future monetary policy.

Why Powell says inflation is still on track: Morning Brief

Fed Chair Powell tried to make sense of contradictory storylines and conflicting data, delivering a final watchword: caution.

Jerome Powell makes clear the Fed is already thinking about life under Trump

Federal Reserve Chair Jerome Powell hinted Wednesday that the economic policies of President-elect Donald Trump are starting to become top of mind for the central bank.

Fed 'dot plot' shows central bank will cut interest rates 2 more times in 2025

The Federal Reserve will take a more cautious approach to its easing cycle, according to the latest dot plot projections.

Fed cuts rates by quarter point, scales back cuts for 2025

The Federal Reserve reduced interest rates by a quarter percentage point Wednesday and scaled back the number of cuts it expects to make next year.

Indonesia Faces Costly Biofuel Expansion After Palm Oil Surges

(Bloomberg) -- Indonesian consumers, fuel retailers and palm oil producers are facing higher costs from the government’s plan to expand its biofuel program after the price of the tropical oil surged.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024Make a Transit-Oriented New Year’s ResolutionThe nation plans to increase the volume of palm oil used in its

World’s Best-Performing Currency Fails to Slow Kenyan Inflation

(Bloomberg) -- Kenya’s annual inflation rate climbed for a second successive month in December as higher food and transport costs offset the effects of the shilling’s world-beating performance this year.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024The consumer price index rose 3%, compared with a 2.8% increase in November, the Nairobi-based Kenya Nati

Indian Refiner Boosts Mideast Oil Imports as Russian Flows Slow

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024One of India’s largest refiners has been forced to seek alternative and more expensive crude cargoes from the Middle East to make up for lower supplies fr

Oil prices post 3% annual decline, slipping for second year in a row

HOUSTON (Reuters) -Oil prices fell around 3% in 2024, slipping for a second straight year, as the post-pandemic demand recovery stalled, China's economy struggled, and the U.S. and other non-OPEC producers pumped more crude into a well-supplied global market. U.S. West Texas Intermediate (WTI) crude settled up 73 cents, or 1.03%, to $71.72 a barrel. In September, Brent futures closed below $70 a barrel for the first time since December 2021, and this year Brent broadly traded under highs seen in the past few years as the post-pandemic demand rebound and price shocks of Russia's 2022 invasion of Ukraine began to fade.

Dollar dominates on cautious Fed, Trump trade

The U.S. dollar hit a two-year high and was on track to post an annual gain against almost all major currencies on Tuesday as the prospect that the Federal Reserve will hold interest rates higher than peers led the U.S. currency to dominate rivals. Traders have adjusted for the U.S. central bank to take a slow and cautious approach to further rate cuts next year as inflation remains above the Fed’s 2% annual target. Analysts also expect policies to be introduced by president-elect Donald Trump, including business deregulation, tax cuts, tariffs and a clampdown on illegal immigration, to boost growth and add to price pressures next year.

Bullish Oil Bets at Four-Month High as Investors Eye 2025 Risks

(Bloomberg) -- Bullish oil bets reached a four-month high in the penultimate week of 2024 as investors position for a new year that will see Donald Trump’s return to the White House.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesMigrant Crisis Pushed US Homelessness to Record High in 2024Money managers boosted net-long positions on West Texas Intermediate by 21,694 lots to 182,895 lots during the week ended Dec.