Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
A Bloomberg News report Tuesday morning said the White House had looked at such a move back in February.Marketsread more
Trump starts the campaign season in an unusual spot for a president: overseeing a strong economy but facing low approval ratings.Politicsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
The major Wall Street analysts say Facebook's Project Libra has a bright future.Marketsread more
Trump went after Mario Draghi for opening the door to more monetary stimulus in Europe, which would weaken the euro relative to the dollar.Marketsread more
Democratic frontrunner Joe Biden on Monday appealed to a billionaire Republican donor for fundraising help in his presidential campaign. But the financier, Trump-supporting...Politicsread more
Shares of Beyond Meat soared 18% Tuesday morning, surpassing $200 per share and setting a new all-time high.Food & Beverageread more
John Legend said music streaming has made artists rethink how they create and distribute their music. Instead of focusing on delivering CDs, musicians have shifted to doling...Entertainmentread more
A measure of consumers' attitudes rose to its highest level since January 2004.
The Index of Consumer Sentiment hit 98.2 in December, the University of Michigan reported on Friday. The figure is up from 93.8 in November's final reading.
Economists expected the consumer sentiment index to hit 98 in December's final reading, according to a Thomson Reuters consensus estimate.
The surge in confidence following President-elect Donald Trump's surprise election aided in the numbers, the report said.
"Compared with the rapid gains made in late November and early December, the Sentiment Index was barely higher than at mid month and barely higher than the January 2015 peak — in both cases, just two-tenths of a point — but that small difference was enough to establish a twelve year peak," said Richard Curtin, the Surveys of Consumers chief economist, in a press release.
Curtin said 18 percent of consumers mentioned the expected favorable impact of Trump's policies on the economy. That's twice as high as the prior peak of 9 percent in 1981 when Ronald Reagan took office, he added.
The monthly survey of 500 consumers measures attitudes toward topics like personal finances, inflation, unemployment, government policies, and interest rates.