Jobless claims fall again to 215,000. Strong labor market fuels U.S. economy.

The number of Americans who applied for unemployment benefits last week fell again to 215,000, reaffirming that layoffs are low and the economy is being buoyed by a strong labor market. 


 
Nasdaq Up After Nvidia Earnings Fuel AI Optimism

Shares of Nvidia rose, helping push up the S&P 500 and Nasdaq. Nvidia reported record revenue and profits, and executives said demand remained strong for its AI chips. 


 
Prices at the Pump Are Dropping Just in Time for Memorial Day Weekend

Preholiday costs are about 5% below their inflation-adjusted average since 2000. 


 
Boost for World Economy as U.S., Eurozone Accelerate in Tandem

Global economic growth is becoming more broad based, with surveys indicating that business activity in both the U.S. and the eurozone gained momentum in May. 


 
China's New Sovereign Bond Prices Go Haywire

The price of China's new 30-year sovereign bonds has whipsawed since their recent debut, as small investors pile into a bet seen as safer than the country's property and equities markets. 


 
South Korea Unveils $19 Billion Package for Chip Industry

South Korea is seeking to catch up with international rivals amid soaring demand for advanced chips to power artificial intelligence and other computing. 


 
Washington's Pivot on Bank Rules Could Free Up Tens of Billions

By reducing additional capital requirements, banks would be freer to reward shareholders and clients. 


 
CFOs Lock in Savings with Interest-Rate Swaps Amid Uncertainty About Fed Cuts

Some companies are saving millions of dollars by entering into interest-rate swaps as they confront the possibility it could be a while before the Federal Reserve cuts rates. 


 
Bank of Korea Holds Rate Steady, Raises Growth Forecast

South Korea's central bank held its base rate steady as widely expected and raised its 2024 economic growth forecast, signaling a delay in its pivot toward policy easing. 


 
Singapore's Economy on Track as Inflation Steadies, Trade Improves

Trade data was a bright spot for export-reliant Singapore, helping cement economists' expectations for stronger growth this year.


(END) Dow Jones Newswires

05-23-24 1115ET