The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
Apple bought Tueo Health, which was developing tech to help parents monitor asthma symptoms in children, using a mobile app and commercial breathing sensors.Technologyread more
United Airlines will take its 14 Boeing 737 Max jets off its schedule for another month, through Aug. 3, canceling another 1,290 flights.Airlinesread more
Trade could be a big factor for markets in the week ahead, but investors will also be attuned to fresh inflation data and the bond market, which is flashing new worries about...Market Insiderread more
Mississippi is one of several states that have moved to pass new restrictions on abortion this year.Politicsread more
Better-than-expected U.S. employment data on Friday kept the dollar afloat, even as the European Union, Canada and Mexico are expected to retaliate to the import tariffs on steel and aluminum announced by President Donald Trump.
Domestic job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8 percent, pointing to rapidly tightening labor market conditions. The U.S. Labor Department's report also showed solid wage gains, making a rate hike in June near-certain, and increasing expectations of a fourth hike this year.
Against a basket of six currencies, the dollar rose half a percent to a session high of 94.45. It was last up 0.24 percent at 94.21. The move, however, was relatively muted compared to the blockbuster jobs numbers.
"The market was fairly pricing the Feds path coming into the number, which was a shift from the beginning of the week where the market took out some of the rate hikes," said Charles Tomes, senior investment analysts at Manulife Asset Management.
Rising trade tensions also counterbalanced the fizzy jobs data and weighed down the dollar. Following Trump's announcement Thursday of new tariffs on imported metals, Canada, Mexico and the EU all said they plan to retaliate with levies on billions of dollars of U.S. goods from orange juice and whiskey to blue jeans and Harley-Davidsons.
Political turmoil in Italy earlier this week drove the dollar index to a 6-1/2 month high, but expectations of a fourth rate hike in 2018 decreased over fears of a euro zone crisis.
The euro edged higher on Friday, breaking a six-week losing streak, supported by a drop in Italian bond yields after a revived coalition deal between two anti-establishment parties pulled the country back from snap elections.
Sterling strengthened against the dollar and the euro on Friday as data showed UK manufacturing growth picking up speed in May. The pound languished near a six-month low of $1.3205 for much of the week, curtailed by weakness in the UK economy and influenced by non-UK factors including new U.S. trade tariffs and possible snap elections in Italy.
On Friday, however, it was set for its biggest daily gain in eight weeks. It climbed 0.5 percent to a five-day high $1.3362. It was last up 0.36 percent at $1.3346.