Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
President Trump also said he is "not looking for a partial deal" with Beijing, moving away from his suggestion last week that he would consider an "interim deal."Politicsread more
Progress on trade talks will determine how far market will move above new highs.Trader Talk with Bob Pisaniread more
For investors taking a breather from the chaos in August, buckle up as the market is about go crazy again, Goldman Sachs warned.Marketsread more
The Patriots released Antonio Brown only 11 days after signing the wide receiver.Sportsread more
The Wall Street Journal's report came as a top Ukraine official said President Donald Trump "is looking" for Ukraine officials to investigate business dealings of Biden's son...Politicsread more
A tour bus carrying Chinese-speaking tourists crashed near a national park in southern Utah, killing at least four people and critically injuring up to 15 others, authorities...U.S. Newsread more
Gun maker Colt announced Thursday that it will halt its production of AR-15 rifles for civilian sales, but the news might not be as exciting for gun control advocates as it...Guns and Weaponsread more
As thousands of people across the world participate in the Global Climate Strike, several Democratic presidential candidates have shared how they will take aggressive action...Scienceread more
With "tariff man" President Trump waging a tariff war and Democratic candidates pushing against big international deals, free trade has become politically homeless, writes...2020 Electionsread more
Canadian trade union Unifor said roughly 4,500 of its members have been temporarily laid off because of the GM strike so far.Autosread more
The number of Americans filing new claims for jobless benefits fell last week to a near six-year low, a promising sign for the labor market. Separately, the U.S. government left its estimate for economic growth in the second quarter unchanged, but said prices for goods and services purchased by U.S. households fell for the first time in four years.
Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 305,000, the Labor Department said on Thursday.
The reading gives a clearer view of the labor market's health after an update in government computer systems in California and Nevada threw claims data into disarray earlier this month.
The updates created a backlog in unprocessed claims that had been distorting the data, but a Labor Department analyst said both states had reported they had caught up in counting new filings.
The four-week average of new claims, which smooths out weekly volatility, fell 7,000 to 308,000, the lowest level since June 2007.
The Commerce Department said on Thursday gross domestic product (GDP) expanded at a 2.5 percent annual rate in the April-June period.
Also in the report, the department said its price index for consumer purchases, which is the Federal Reserve's preferred gauge of inflation, fell at a 0.1 percent rate.
That is a worrisome sign for the national economy because it suggests businesses have little leverage to raise prices.
It was the first decline since the first quarter of 2009, which were some of the darkest days of the 2007-09 recession.
Even stripping out volatile food and energy costs, prices rose at only a 0.6 percent rate, also the weakest reading for this so-called core category since early 2009.
The report also showed government austerity dragged on U.S. economic growth a little less in the second quarter than initially estimated, chipping about a tenth of a point off the growth rate.