U.S. stocks are drifting around their record heights on Monday following Wall Street’s seemingly relentless rally.
The Senate rejected competing measures on Friday to fund federal agencies for a few weeks when the new budget year begins on Oct. 1, increasing prospects for a partial government shutdown on that date.
Wall Street is coasting toward the finish of its latest record-setting week on Friday.
The House on Friday passed a short-term spending bill to extend government funding for seven weeks and avoid a partial government shutdown on Oct. 1, but prospects looked dimmer in the Senate, where the two parties show no signs of budging on the matter.
There’s good news for would-be home buyers.
Inflation rose last month as the price of gas, groceries, and airfares jumped, while a measure of layoffs also increased, putting the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
U.S. tariffs hit car companies hard in July.
Some of the industries most exposed to tariffs are losing jobs.
U.S. stocks are ticking toward another record on Tuesday.
A recent report shows home purchases are getting cancelled at a record rate.
