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As the Federal Reserve continues to raise interest rates in its bid to tame inflation, the central bank may be hoping that holiday shopping in the U.S. will be more muted than in years past. But according to analysts, factors including low unemployment and the potential for big discounts mean this holiday season is shaping up to be another busy one. In a sign of the uncertainty U.S. retailers now face, rival big box giants Walmart and Target announced two substantially different holiday hiring targets this week. While Walmart is now aiming for 40,000 new, mostly seasonal workers — down from 150,000 last year, Target is looking to bring on another 100,000 new workers this holiday season. That's the same figure it set last year. The uncertainty is further reflected in holiday spending forecasts. The U.S. consulting firm Deloitte now expects overall holiday sales to climb 4% to 6% this year compared with growth of 15.1% last winter. But it also expects e-commerce sales to climb betwee...

U.S. stocks rallied Wednesday, as traders cheered better-than-expected economic data that slowed down the idea that a recession is inevitable. The Dow Jones Industrial Average rose 406 points, or 1.25%. The S&P 500 gained 1.46%, and the Nasdaq Composite increased 2.32%, boosted by rising tech stocks. Earnings season continued, giving investors hope that the market can recover. Moderna surged more than 15% and CVS Health gained nearly 5% after reporting earnings beats. Stocks rebound as investors cheer strong economic data Aug. 3, 2022 03:16 Comments from St. Louis Federal Reserve President James Bullard also boosted sentiment. He told CNBC Wednesday morning that he doesn’t think the U.S. is currently in a recession, and that rate hikes to tame high inflation will continue. “We’re going to have to see convincing evidence across the board, headline and other measures of core inflation , all coming down convincingly before we’ll be able to feel like we’re doing our job,” Bullard said...