A big opioid settlement and a COVID-19 vaccine slowdown helped drop Walgreens’ fiscal third-quarter earnings, but the drugstore chain still topped expectations. The company said Thursday that earnings slid to $289 million in the quarter that ended May 31. That’s down from about $1.2 billion the previous year.

WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families.

WASHINGTON (AP) — Slightly fewer Americans applied for unemployment benefits last week, reflecting a still robust job market despite increasing layoffs in some sectors of the economy that have cooled in recent months. Applications for jobless aid for the week ending June 25 ticked down to 231,000, a decline of 2,000 from the previous week, the Labor Department reported Thursday.

Stocks ended mostly lower on Wall Street Wednesday, keeping the market on track for its fourth monthly loss this year. The S&P 500 fell 0.1%. The benchmark index has been volatile all week, and is down 20% for the year as investors worry about inflation and rising interest rates. The Dow Jones Industrial Average rose 0.3% and the Nasdaq fell less than 0.1%.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there’s “no guarantee″ the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum, Powell repeated his hope that the Fed can achieve a so-called soft landing — raising interest rates just enough to slow the economy and rein in surging consumer prices without sending the U.S. economy into a recession.

BEIJING (AP) — Baidu Inc. is China's highest-profile competitor in a multibillion-dollar race with Alphabet Inc.'s Waymo and General Motors Co.'s Cruise to create self-driving cars. Baidu is test-driving more than 500 self-driving vehicles on the streets of Beijing and other Chinese cities. The company and a rival, Pony.ai, received China's first licenses in April to operate taxis with no one in the driver's seat but a safety supervisor on board.

WASHINGTON (AP) — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year even though consumers and businesses kept spending at a healthy pace, the government reported Wednesday in a slight downgrade from its previous estimate for January-March quarter. It was the first drop in gross domestic product — the broadest measure of economic output — since the second quarter of 2020, in the depths of the COVID-19 recession, and followed a strong 6.9% expansion in the final three months of 2021.

NEW YORK (AP) — Wall Street has pivoted from losses to gains about an hour before markets open, following declines in Europe and Asia ahead of the latest update on U.S. economic growth. Futures for the Dow industrials rose 0.4% while futures for the S&P 500 gained 0.3%.

Stocks slid on Wall Street Tuesday as the market remains gripped by uncertainty over pervasive inflation, rising interest rates and the potential for a recession. The S&P 500 fell 2%, the Dow Jones Industrial Average fell 1.6%, and the Nasdaq fell 3%.

Stocks ended mixed after a day of wavering between gains and losses Monday as the market cools off following a rare winning week. The S&P 500 edged 0.3% lower, the Dow Jones Industrial Average slipped 0.2% and the Nasdaq fell 0.8%.

NEW YORK (AP) — U.S. markets are pointing higher before the opening bell as leaders of the Group of Seven economic powers pledged financial, humanitarian and other support for Ukraine. Conferring by video link with Ukrainian President Volodymyr Zelenskyy, they were finalizing a deal to seek a price cap on Russian oil, raise tariffs on Russian goods and impose other new sanctions.

Stocks rallied on Wall Street Friday, sending the S&P 500 up 3.1% for its best gain in two years. The benchmark index also ended the week 6.4% higher, erasing the brutal loss it took a week earlier. It was just the second winning week for the benchmark index in the last 12.

BANGKOK (AP) — Shares are higher in Europe and Asia despite data suggesting some economies are slowing. U.S. futures also advanced after a rally Thursday on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses.

WASHINGTON (AP) — Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite myriad economic pressures, including four-decade high inflation. Applications for jobless aid for the week ending June 18 fell to 229,000, a decline of 2,000 from the previous week, the Labor Department reported Thursday.

NEW YORK (AP) — Wall Street is poised to open higher at the opening bell a day after the head of the Federal Reserve acknowledged that a recession is possible. Futures for the Dow Jones Industrial Average are up 0.6% early and futures for the S&P 500 are up 0.8%.

TOKYO (AP) — Global shares are lower as markets shrug off a Wall Street rally and await the congressional testimony of Federal Reserve Chair Jerome Powell. European benchmarks fell in early trading after shares in Asia finished lower, including in Japan, Australia, South Korea and China.

NEW YORK (AP) — Twitter’s board is recommending that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk. Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signaling considerable doubt that it will happen

BEIJING (AP) — Global stocks have rebounded as Wall Street futures moved higher after U.S. markets were closed for a holiday. London and Frankfurt opened higher. Tokyo, Hong Kong and Sydney gained, while Shanghai declined. Oil prices climbed above $110 per barrel.

NEW YORK (AP) — Stocks are opening gingerly higher on Wall Street Friday at the end of a brutal week. Stocks suffered several massive drops this week as markets get accustomed to the bitter medicine of higher interest rates that the Federal Reserve and other central banks are using in their battle against inflation.

WASHINGTON (AP) — Average long-term U.S. mortgage rates made their biggest one-week jump in 35 years, one day after the Federal Reserve raised its key rate by three-quarters of a point in bid to tame high inflation. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate climbed from 5.23% last week to 5.78% this week, the highest its been since November of 2008 during the housing crisis.

NEW YORK (AP) — Wall Street tumbled Thursday as worries roared back to the fore that the world’s fragile economy may buckle under higher interest rates. The S&P 500 fell 3.3% to more than reverse its brief rally from a day before. Analysts had warned of more big swings given deep uncertainties about whether other central banks can tiptoe the narrow path of hiking interest rates enough to get inflation under control but not so much that they cause a recession.

In an unusual move for what’s been an unusual takeover bid for Twitter by the world’s richest man, Tesla CEO Elon Musk addressed the social platform’s employees Thursday, even though his $44 billion offer has not yet been completed.

NEW YORK (AP) — Revlon, a cosmetics maker that broke racial barriers and dictated beauty trends for much of the last century, is filing for Chapter 11 bankruptcy protection. The company has been a mainstay on store shelves since its founding 90 years ago in New York City as it oversaw a stable of household names, from Almay to Elizabeth Arden.

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has pledged to do whatever it takes to curb inflation, now raging at a four-decade high and defying the Fed’s efforts so far to tame it. Increasingly, it seems, doing so might require the one painful thing the Fed has sought to avoid: A recession. A worse-than-expected inflation report for May helped spur the Fed to raise its benchmark interest rate by three-quarters of point Wednesday and to signal that more large rate hikes are likely coming.

NEW YORK (AP) — U.S. markets are heading for a sharply lower open on Thursday, one day after the Federal Reserve raised its key interest rate by three-quarters of a point and signaled more rate hikes were coming to fight inflation.