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Wall Street slips from its record following the latest weak update on the US economy

NEW YORK (AP) — The U.S. stock market edged back from its all-time high Friday following the latest report on the economy to come in surprisingly weak, this time about how much shoppers are spending at retailers. Such data could keep interest rates low, which is something Wall Street loves, but it also raises the risk of a slowing economy when inflation is still high. The S&P 500 slipped 0.2% from its record set the day before. The Dow Jones Industrial Average dipped 107 points, or 0.2%, and the Nasdaq composite sank 0.3%. Stocks gave up modest gains from early in the morning after ...

Initial weekly unemployment claims down

Staff report Ohioans filed 4,166 initial unemployment claims the week of Aug. 2-8, which was 251 fewer than the previous week. Ohioans filed 41,557 continued unemployment claims last week, which was 710 fewer than the previous week. The total number of claims filed for the period was 45,723. Ohio’s unemployment rate in June was 3.6%. The national unemployment rate in June was 4.2%. Ohio’s labor force participation rate in June was 61.6%. The national labor force participation rate in June was 61.5%.

A surprise credit after an overseas purchase: The tariff refunds now flowing through shippers

NEW YORK (AP) — If you bought something from an overseas vendor last year, it might be time to check your bank account. Shippers including FedEx and UPS that acted as customs brokers for imported packages and received tariff refunds from the U.S. government have started to pass on those refunds to the customers that originally paid the tariffs. The refunds to consumers are the last step in a monthslong process that kicked off in February when the Supreme Court struck down sweeping tariffs implemented by President Donald Trumpin March 2025 under the 1977 International Emergency ...

US unemployment claims rise but remain at healthy level

WASHINGTON (AP) — U.S. applications for unemployment benefits rose last week, but layoffs remain at historically healthy levels. The Labor Department reported Thursday that 209,000 people filed jobless claims last week, up from a revised 200,000 the week before and higher than the 205,000 forecasters had expected. The four-week average of applications, which smooths out week-to-week volatility, was unchanged at 199,000. The overall number of people collecting employment benefits the week that ended Aug. 1 dropped by 22,000 to 1.78 million. Claims for jobless benefits are a proxy ...

Eastwood Mall earns national recognition for retail experiences

NILES — Good fun, good food and good shopping. That’s the Eastwood Mall, an experience the Mahoning Valley and its neighbors have immersed themselves in for nearly 60 years. Chain Store Age, a national magazine, is directing its audience to the complex situated in Niles and Howland. Coming in at No. 7, the publication named the Eastwood Mall Complex as one of “Top 10 Retail Center Experiences.” Anthony Cafaro Jr., Cafaro Company’s co-president, said the honor is appreciated. But, he is not surprised. “This success is not by chance,” he said. “Our family and talented ...

US stocks edge further from their records as oil prices keep swinging

NEW YORK (AP) — U.S. stocks slipped a bit further from their records Tuesday, while oil prices kept swinging on uncertainty about when the war with Iran will allow crude to flow freely again. The S&P 500 fell 0.3% for a second modest drop since setting its all-time high on Friday. The Dow Jones Industrial Average dipped 184 points, or 0.3%, and the Nasdaq composite sank 0.6%. The action was stronger in the oil market, where the price for a barrel of Brent crude briefly jumped above $90 in the morning before falling back below $87. It eventually settled at $88.91, up 1.4% from ...