Economy

A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images The recent sharp rise in interest rates is now taking a toll on mortgage refinance demand, as the number of borrowers who could benefit shrinks. Applications to refinance

Weekly jobless claims rose less than expected last week, but remained above pre-pandemic levels, as the U.S. economy tried to shake off impacts from Covid-19 and employers waited to see if President Joe Biden’s $1.9 trillion stimulus would become law. The Labor Department on Thursday reported that first-time filings for unemployment insurance in the week

Investors may want to hold on even tighter. Moody’s Analytics Mark Zandi believes Wall Street is significantly underestimating the seriousness of an inflation comeback, and he warns it will affect every corner of the market — from big tech to cyclical trades. “Inflationary pressures will develop very quickly,” the firm’s chief economist told CNBC’s “Trading

Workers transport the second shipment of the Johnson & Johnson Covid-19 coronavirus vaccine upon its arrival at the O R Tambo International Airport in Johannesburg on February 27, 2021. Kim Ludbrook | AFP | Getty Images Unemployment could fall this year to close to where it was prior to the Covid-19 pandemic, according to a

Restaurant workers wearing faceshields, facemasks and gloves prepare food at the reopening of iconic LA restaurant Pink’s Hot Dogs on March 1, 2021 in Los Angeles, California. Frederic J. Brown | AFP | Getty Images The U.S. economy has roared back to life in 2021, with first-quarter growth set to defy even the rosiest expectations

A worker wearing a protective mask boxes a pizza inside a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images Hiring likely improved in February as more of the economy reopened, but winter weather could have hampered some activity. Economists expect to see 210,000 payrolls

A man wearing a face mask walks past the U.S. Federal Reserve in Washington, D.C., the United States, on Dec. 2, 2020. Liu Jie | Xinhua News Agency | Getty Images The U.S. Federal Reserve won’t step in to temper rising inflation any time soon, market watchers have said, despite surging yields that have roiled

Hiring surged in February as the U.S. economic activity picked up amid a progressive drop in Covid-19 cases and vaccines provided hope of more growth ahead. The Labor Department on Friday reported that nonfarm payrolls jumped by 379,000 for the month and the unemployment rate fell to 6.2%. That compared to expectations of 210,000 new

Chef Alessandro Pirozzi, from Alessa by Chef Pirozzi, brings a take-out food order to an outside table at the Promenade on Forest in Laguna Beach, CA on Wednesday, January 13, 2021. Paul Bersebach | Orange County Register via Getty Images February’s surprisingly strong job growth signals that the economy could be at a pivot point

Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan

Weekly jobless claims edged higher last week but rose less than expected for an economy struggling to shake off impacts from a pandemic that has been around now for nearly a year. The Labor Department on Wednesday reported that first-time filings for unemployment insurance in the week ended Feb. 27 totaled a seasonally adjusted 745,000,

Private payroll growth disappointed in February despite otherwise encouraging signs of economic growth, according to a report Wednesday from ADP. Companies added just 117,000 positions for the month, well below the 225,000 forecast from economists surveyed by Dow Jones. The total also represented a sharp decline from the upward revised 195,000 jobs in January. The

A worker delivers groceries to a customer’s vehicle outside a Walmart Inc. store in Amsterdam, New York, on Friday, May 15, 2020. Angus Mordant | Bloomberg via Getty Images Walmart said Wednesday that it plans to back American manufacturers by spending an additional $350 billion over the next decade on items that are made, grown

Joggers pass the Marriner S. Eccles Federal Reserve building in Washington, D.C., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg | Getty Images While the Federal Reserve may not raise its benchmark interest rate for years, there are growing expectations it may tweak policy soon to address some of the recent tumult in the

David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group. David A. Grogan | CNBC Carlyle Group co-founder David Rubenstein told CNBC on Thursday he believes the largest economic risk is high unemployment, not some areas of the stock market where valuations have become overheated. “I think on the whole, the stock market is not our biggest

A fresh round of government stimulus checks sent personal income up to its biggest monthly gain since April 2020 though inflation remained tame, the Commerce Department reported Friday. Personal income jumped 10% after 0.6% increase in December. That was even higher than the 9.5% Dow Jones estimate. The gain came from the issuance of $600

The number of individuals filing first-time claims for state unemployment benefits fell sharply last week, with a total of 730,000 new claims for the week ended Feb. 20, the Department of Labor reported. The unemployment rate has also been falling, dropping to 6.3% in January. Signs of improvement in the labor market may create the

Jobless claims fell sharply last week despite brutal winter storms that swept across Texas and other parts of the South, the Labor Department reported Thursday. First-time filings for unemployment insurance totaled 730,000 for the week ended Feb. 20, well below the Dow Jones estimate of 845,000. That total represented a substantial decrease from the 841,000