Mark Niquette

U.S. consumer prices declined in June for the first time in six years, and a key gauge of underlying inflation was little changed, taking some pressure off the Federal Reserve to raise interest rates.

US manufacturing production stalled in June, dragged down by a decline in durable goods.

Factory output, which accounts for three-fourths of total industrial production, was unchanged after an upwardly revised 0.1% increase in May, Federal Reserve data out July 17 showed.

Overall industrial production rose 0.1 percent for a second month, with output at utilities and mining each increasing 0.4 percent, according to the Fed report.

Applications for US unemployment benefits fell last week to an almost 60-year low, adding to signs of a stable labor market that will allow the Federal Reserve to focus on inflation.

US unemployment claims reached a near 60-year low, signaling a stable labor market. The European Central Bank rejected an immediate rate hike, planning for a possible September increase. South Korea's economy grew faster than expected, driven by a chip boom.

US orders for business equipment rose in June by more than projected, capping robust capital investment across the first half of the year.

The June shortfall declined 4.2% from the prior month to $101.5 billion. Key Takeaways: [Stay on top of transportation news: Get TTNews in your inbox .]

When fuel costs jumped earlier in the Iran war, US consumers powered through it — with a hefty assist from federal tax refunds. Now they’re getting hit by another wave of higher gasoline prices, and the buffer is gone.

US companies added fewer jobs in July than expected, suggesting some cooling in hiring momentum after a recent stretch of solid gains.