The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
Here's what Nordstrom reported in their fiscal second-quarter earnings.Retailread more
Apple's move into banking could break a key relationship point between customers and wireless carriers such as Verizon and AT&T, according to MoffettNathanson.Marketsread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
Reps. Rosa DeLauro, D-Conn., and Lucille Roybal-Allard, D-Calif., say they sent a letter to Homeland Security and the Department of Health and Human Services seeking answers.Health and Scienceread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
"Federal debt, which is already high by historical standards, is on an unsustainable course," CBO director Phillip Swagel said in the report.Politicsread more
The pace of growth in the U.S. manufacturing sector slowed very slightly in June, an industry report showed on Tuesday, though new orders accelerated to a six-month high.
The Institute for Supply Management said its index of national factory activity was 55.3 in June, almost unchanged from May's 55.4 reading. The report was modestly under the 55.8 reading expected by a Reuters poll of economists.
A reading above 50 indicates expansion.
The employment gauge was unchanged at 52.8, below expectations for a read of 53.2, while the forward-looking new orders subindex rose from 56.9 in May to 58.9, the highest reading since December. The production subindex fell to 60 from 61 in May.
A separate report showed U.S. construction spending rose less than expected in May, which could prompt a further downgrading of second-quarter economic growth estimates.
Construction spending edged up 0.1 percent to an annual rate of $956.1 billion, the Commerce Department said. However, April's construction spending was revised up to show a 0.8 percent rise, taking some of the sting out of the report.
Economists polled by Reuters had expected construction spending to advance 0.5 percent after a previously reported 0.2 percent gain.
The data was the latest to suggest the economy's rebound from a brutally cold winter could fall short of expectations. Growth contracted at a 2.9 percent annual pace in the first quarter, also weighed down by a slow pace of inventory accumulation by businesses.
Economists last week slashed their second-quarter growth estimates after weak consumer spending in May. Growth forecasts are now running as high as a 3.5 percent pace and as low as a 2.1 percent rate.
Construction spending in May was held back by a 0.3 percent decline in private construction projects, which offset a 1.0 percent rise in public construction outlays. Private construction is the largest portion of construction spending.
Private residential construction tumbled 1.5 percent, reflecting weak housing starts.
A run-up in mortgage rates has stymied the housing market recovery. Investment in home building and nonresidential structures such as factories and gas pipelines contracted in the first three months of this year for a second straight quarter.
Spending by the federal government dropped 8.9 percent, the largest fall since December 2010. State and local government projects increased a solid 2.0 percent.
CORRECTION: An earlier version stated the incorrect month in the headline.