Wall Street pulls back from its records as JPMorgan Chase and Delta kick off earnings season
U.S. companies are under pressure to deliver strong growth in profits to justify the runs to records their stock prices have made.
Economy
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IBJ Podcast: Pete the Planner on student loan collections, recessions, stagflation (and holding our breath)
As the U.S. economy contracts, consumer confidence weakens and we await the impact of tariffs, millions of student loan holders must redirect their income to payments. Pete Dunn helps us get a footing in this economic limbo.
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Cummins withdraws 2025 financial guidance over tariff uncertainty
Cummins Inc. has become the latest in a string of companies to withdraw its 2025 guidance.
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UPDATE: Lawmakers expect ‘tough’ budget cuts to offset $2.4B drop in projected revenue
An updated revenue forecast presented to the Budget Committee projected the state’s revenue will flatline from 2025 to 2027.
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Powell: Fed still sees rate cuts this year; election timing won’t affect decision
The recent pickup in inflation has led some economists to postpone their projections for when the Federal Reserve will begin cutting interest rates.
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Articles
Trump visits Ford plant and defends his tariffs, hoping to counter jitters about the economy
“All U.S. automakers are doing great,” Trump said.
Inflation cooled slightly in December–though it remains above Fed’s target
Signs that inflation is cooling could make it more likely that the Federal Reserve will reduce its key interest rate later this year, which could translate into lower borrowing costs for mortgages, auto loans and credit cards.
Fed served with DOJ subpoenas; Powell vows to stand firm
The unprecedented move by the Trump administration marks an escalation of the president’s longstanding feud with the central bank’s chair, though Trump denied having any knowledge of an investigation.
December interest rate cut was a close call for some Fed officials, minutes show
The minutes showed that even some Fed officials who supported the rate cut did so with reservations, with some saying they wanted to wait for more data before making any further moves.
Without pennies, should retailers round up or down? States offer their 2 cents.
While the question revolves around only a few cents per transaction, it raises important consumer protection and legal questions for states to consider.
Average long-term mortgage rate ticks down
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, rose this week.
Unemployment claims fall again, remain at historically healthy level
However, since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March.
Abandoning homeownership may change how young people behave at work and home, research suggests
While 84% of the people born in 1950 became homeowners at some point in their working lives, the researchers estimated that only 74% of 1990 babies will follow suit.
US economy expands at 4.3% annual rate in the third quarter, fastest in 2 years
But economists caution that persistent and potentially worsening inflation could make a January interest rate cut from the Fed less likely.
Instacart ends a program where users could see different prices for the same item at the same store
A recent report by consumer advocacy agencies said Instacart offered nearly three out of every four grocery items to shoppers at multiple prices as part of an experiment.
Republicans and Democrats pitch competing plans to tackle affordability
Lawmakers in both parties view simmering fury over the cost of living as the top issue in next year’s midterm elections and are pitching a growing profusion of proposals to tackle the notoriously difficult problem of affordability.
Most US adults aren’t making year-end charitable contributions, poll finds
December serves as a deadline of sorts for donors, with the National Philanthropic Trust estimating that nearly one-third of annual giving happens in the final month.
Inflation cooled unexpectedly in November
The report lands at a moment of growing uncertainty about the broader economic outlook, with job growth slowing sharply in recent months.
A ‘recession’ is looming for people who want jobs in technology
Over the last year, the tech industry has been reshaping itself amid economic uncertainty, reorganization around artificial intelligence and a push to become more cost-efficient.
Rep. Todd Huston: Data centers are powering today’s modern economy
We’re competing for these projects not just with other cities and states but with countries across the globe.
Small-business optimism rises on brighter sales outlook
Inflation concerns ranked as the second-biggest problem for small firms behind labor quality.
Holiday shopping at small businesses driven by online sales, social media focus
Small businesses are being impacted by economic instability, despite national predictions that call for record spending at small businesses this holiday season.
Economic, tech experts talk AI at Elevate Ventures event
Artificial intelligence is spurring big investments, big opportunities and big disruptions, speakers said at an Elevate Ventures event Thursday afternoon in downtown Indianapolis.
Bankers bet big on 2026 after underwriting $65B in deals
Dealmakers are banking on markets remaining calm enough to sell on those commitments to investors.