Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Goldman Sachs economists said the odds for a third rate hike this year rose to 60 percent from 55 percent, after a significant
and core, excluding fuel and food, rose 0.248 percent, the Labor Department reported Thursday. Goldman had expected core to rise 0.2 percent.
The firm noted that energy prices rose 2.8 percent due to Harvey-related disruptions at oil refineries in the Gulf Coast. It also noted core CPI was boosted by shelter costs, particularly lodging away from home, reversing a record decline in July.
That category, which includes hotels, was up 4.4 percent in August, after falling 4.2 percent in July. Barclays economists noted that the rise in lodging was the largest monthly increase in the two-decade history of that data, and some economists say the jump was likely due to the evacuation of storm victims to hotels.
"The inflation trend in that category now looks much more consistent with PPI- and industry-based hotel price measures. In addition to this temporary boost, underlying inflation also appeared to firm, with key shelter measures rising at a cycle-high pace," the Goldman economists wrote. They added that rent was up 0.39 percent and owners' equivalent rent was up 0.349 percent.
However, they pointed to some negatives. The education component saw a rare decline of 0.1 percent, and medical care commodity prices were down 0.1 percent after jumping 1 percent in July.
The Fed has targeted 2 percent for inflation, and because readings have been persistently softer, the market has doubted the Fed could raise interest rates again this year.
Fed Chair Janet Yellen has said the lower inflation is both transitory and a concern. But the fact that CPI was unexpectedly higher in August is more likely.
However, many economists believe the Fed will raise interest rates at its December meeting, after it moves at next week's meeting to slow bond purchases and begin shrinking its balance sheet.
Goldman economists now estimate that the Fed's preferred measure of inflation — the core personal consumption expenditures index — rose 0.16 percent in August, or 1.34 percent from a year earlier.