The rate-cut lowers the cost of borrowing for consumers and businesses, bringing some relief to households weeks before November's presidential election -- even as the Fed works independently of the US administration.

In July, there were 7.7 million job opportunities, the fewest since 2021, while layoffs increased, indicating a softening trend in the U.S. labor market.

Traders were also keeping an eye on developments in the Middle East after a flare-up in hostilities between Israel and Hezbollah that fanned fears of an escalation in the region.

Nvidia, Broadcom and Texas Instruments were among the chip companies that rose more than two percent.

Joe Biden's decision to drop out of the presidential election race and endorse Vice President Kamala Harris had little major impact on sentiment, analysts said, though there is much debate about who she chooses as her running mate.

Investors struggled to extend the rally enjoyed on Wall Street last week, where all three main indexes ended on a positive note despite a forecast-topping read on US wholesale prices.

The May headline consumer inflation rate is expected to be little changed from a month earlier, according to the median forecast of economists surveyed by Dow Jones Newswires and The Wall Street Journal.

Housing costs are the single biggest contributor to the country's ongoing inflation, Yellen told Fox Business while on a trip to Kentucky to highlight President Joe Biden's efforts to boost economic growth.

Americans are snagging jobs and wage increases, while annual real wage growth has been positive since May 2023, said ZipRecruiter chief economist Julia Pollak.

US consumer confidence beat expectations in January to reach its highest level since December 2021, with the public more optimistic than at any point since the Federal Reserve began hiking interest rates.

US Treasury Secretary Janet Yellen on Thursday lauded the economic gains made under President Joe Biden, as the Democrat leader's reelection campaign revs up -- and his team seeks to show he has done more for the country than Donald Trump.

If Latinas achieved the average revenue of white women, they would add $269 billion to the U.S. economy

US President Joe Biden has good news to sell on the economy as he seeks reelection in November -- but voters don't seem to be buying it.

The retail sector's efforts to entice holiday gift purchases builds to a crescendo this weekend with the annual "Black Friday" shopping day followed by the newer "Cyber Monday."

On Friday, the yield on the 10-year US Treasury note climbed to 4.88 percent for the first time since 2007, while the 30-year offering reached 5.05 percent, also a 16-year peak.

As "The Great Resignation" rolls on, find out how the active "anti-work" page on Reddit is fueling the trend.

A report released by Democratic lawmakers has revealed that billions of dollars may have been subjected to abuse and fraud out of the $659 billion taxpayer-funded programs meant to help small businesses in the U.S. survive the coronavirus pandemic.

The second wave of layoffs has hit the U.S. citizens who were back on payrolls after reopening of the states, a new survey conducted by Corness University has found.

Almost half of the Americans who confessed that one of their family members lost their job due to COVID-19 pandemic think that it could be permanent, indicating that as many as 10 million Americans may have to find a new employer soon.

The coronavirus pandemic has led the world to introspect into the investments that the Chinese government has made into different sectors of their economy in the last few years and it seems that China’s influence on the American economy is quite noteworthy.

After a 14.7% unemployment rate was recorded in April, with more than 33 million people filing first-time unemployment claims and the possibility of the worst recession since the Great Depression, the second 2020 stimulus check was suggested