Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed. The personal consumption expenditures price index increased seasonally adjusted 0.4% for the month, putting the 12-month inflation rate at 3.8%, the Commerce Department reported. Economists surveyed by Dow Jones had been looking for respective readings of 0.5% and 3.8%.

up 5,000 to a seasonally ‌adjusted 215,000 for the week ended May 23, the Labor Department said on Thursday. Economists polled by Reuters had forecast 211,000 claims for the latest week. Claims have ​been tucked in a 190,000-230,000 range this year.

and signed a $6 billion multiyear agreement to use Amazon.com Inc.’s cloud services and chips. Product revenue will increase about 31% to $5.84 billion in the fiscal year ending in January 2027, topping analysts’ average estimate of $5.68 billion. Buy (SNOW) on dips.

Mortgage applications fall 8.5%, refinancing drops, application volumes near yearly low. Housing supply remains tight as homeowners with low rates stay put, worsening affordability. Average 30-year mortgage rate hits 6.65%, highest since August 2025, MBA reports.

U.S. economic growth was not as strong as initially thought in the first quarter, and momentum is set to slow this quarter, with ​the war with Iran stoking inflation and squeezing households' finances. The economy grew at a 0.5% pace in the fourth quarter. ​The downgrade to the first-quarter GDP estimate reflected downward revisions to inventory investment ​and consumer spending. Overall economic activity is mostly being driven by artificial intelligence-related spending.