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The Latest Breaking News from the Commerce Department

Retail Sales Surge as Americans Embrace Holiday Season

U.S. retail sales rose 0.3% in November, with an increase in restaurant and furniture store spending, signaling consumer power despite inflation.

Top News

US October Trade Deficit Widens Further On Decline In Exports

The US trade deficit continued to grow in October due to a fall in exports, according to government data published Wednesday.

International Business Times

US Fed's Favored Inflation Gauge Slows In October

A key inflation measure used by the US Federal Reserve to set interest rates eased further last month amid declining energy and goods prices, according to government data published Thursday.

International Business Times

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Sales Of New US Homes Slow In October

New home sales in the United States decelerated in October, according to government data released Monday, although the market for new properties remains boosted by a lack of inventory for existing ones.

International Business Times

Retail sales slow, but top Wall Street forecasts, as inflation pressures ease

Retail sales slowed last month, thanks in part to a big decline in gas prices, but topped Wall Street forecasts amid easing inflation pressures.

The Street

Week Ahead: Walmart report, inflation data, Biden-Xi summit will test Wall Street rally

Wall Street faces a series of stern tests this week, including a key inflation report, that could challenge its solid November rally.

The Street

U.S. Consumer Spending Suggests PayPal Could Be a Contrarian Options Play

The Commerce Department reported yesterday that the economy’s annual growth rate was 4.9% in the third quarter, the fastest pace in almost two years, and more than double the second quarter.

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The Commerce Department updates its policies to stop China from getting advanced computer chips

The Commerce Department has updated and broadened its export controls to stop China from acquiring advanced computer chips and the equipment to manufacture them

The Independent UK

Treasury sees demand slump in $35 billion 10-year auction amid bond yield surge

A $35 billion auction of 10-year Treasury bonds saw a pullback in demand, despite notably higher yields, suggesting investors remain concerned about near-term inflation prospects.

The Street

Apple slump pulls chip stocks lower amid brewing US-China tech trade war

The Commerce Department's will probe details of a new chip in China-backed Huawei's Mate 60 smartphone to determine if it violates U.S. trade sanctions.

The Street

Mortgage Demand Dives To 28-Year Low But This Luxury Builder's EPS Surged 60%

Housing market data for July showed existing-homes sales fell again. Meanwhile, Toll Brothers beat fiscal third-quarter expectations late Tuesday.

Investors Business Daily

The U.S. imports most of its solar panels. A new ruling may make that more expensive

The Commerce Department says solar panel makers in four Southeast Asian countries are evading U.S. duties on Chinese solar components. The finding could raise costs in the United States.

WEKU

Retail sales leap in July on Amazon Prime Day boost, higher gas prices

Amazon Prime Day, which took in $6.4 billion in online orders, looks to have helped power a stronger-than-expected tally for July retail sales.

The Street

Luxury Homebuilder Lennar, IBD Stock Of The Day, Near Entry As Construction Heats Up

Lennar, up 38% year to date, bounces off technical support into a buy zone. The stock's 21-day moving average could be another early entry.

Investors Business Daily

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The Street

Wall Street Is Watching This Key Signal to Confirm Powell's Soft Landing Hopes

The Fitch US downgrade has highlighted a key portion of the bond market that could finally confirm hopes of a 'soft landing' for the world's biggest economy.

Fortune

Apple and Amazon will deliver the real barometer of the economy

The twin tech giants, which represent billions in consumer and business spending, will deliver highly-anticipated quarterly reports on Thursday.

Reason

Taiwanese Company Demands U.S. Taxpayers Cover the Higher Costs of Making Semiconductors in Arizona

Taiwan Semiconductor Manufacturing Company cites regulatory costs and a lack of skilled workers as specific impediments. Biden and Congress can fix those without giving out billions of taxpayer dollars.

Roll Call

Officials juggle several US goals as they award CHIPS money - Roll Call

The Commerce Department has assembled a team to allocate the money Congress provided last year to revitalize the US chip industry.

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Reason

Biden Administration Considering New Tariffs That Will Hike Prices for Canned Goods

The Commerce Department and the International Trade Commission are considering a petition that would impose tariffs of up to 300 percent on tinplate steel.

Zenger

Nasdaq Futures Outperform, Economic Data In Focus As Market Seeks Rebound

Tech stocks poised for recovery as market sentiment improves after pullback

The Independent UK

Biden is set to announce how billions of dollars for expanding broadband access will be distributed

President Joe Biden will announce how much money each state is set to receive from the largest-ever federal investment in broadband expansion

The Street

New Bull Market Faces Early Challenge This Week as Fed Rate Meeting Looms

The longest bear market since 1948 came to an end last week as the bulls took over. That might not last.

The Street

Stocks Higher, Fed Decision, Inflation In Focus, Biogen Surges, Oracle Earnings, Silvio Berlusconi Dies - 5 Things To Know

Stock futures higher ahead of key market tests; Week Ahead: Fed, inflation, retail sales in focus; Biogen surges as FDA panel gives final nod to Alzheimer's treatment; Oracle set for new record high ahead of Q4 earnings and Silvio Berlusconi, billionaire media mogul and former prime minister of Italy, dies…

AFP

US new homes sales surged to high in April

Washington (AFP) - New home sales in the United States defied expectations in April to reach a one-year high, the Commerce Department said Tuesday, fueled by increases in the south and the Midwest.

The Independent UK

Commerce Department starts process to fund tech hubs across the US with $500 million in grants

The Commerce Department is launching the application process for cities to receive a total of $500 million in grants to become technology hubs

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