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Powell Would Not Resign as Fed Chief If Asked by Trump
Federal Reserve Chairman Jerome Powell said Thursday he would not resign if asked to by President-elect Donald Trump.
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Nvidia Surpasses $3.6T Market Value After Trump Win
Shares of Nvidia rallied to a record high Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House.
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Flooded Cars Are a Ticking TIME BOMB!
When disasters such as Hurricane Helene rip into a community, there's almost always an automotive impact. Often, a dealership is damaged. Or an auto parts plant gets shut down. Sometimes, an assembly plant goes offline.
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Nasdaq Rises 1.5% After Fed Cuts Interest Rates
U.S. stocks closed higher Thursday, after the Federal Reserve announced a cut of 25 basis points (bps) in interest rates, extending a sharp rally sparked by Donald Trump's return as U.S. president.
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3 High-Yield Energy Stocks to Buy
The price of crude oil is down about 2% in the United States year-to-date, with WTI crude now at $70 per barrel. At the same time, the Federal Reserve just cut its benchmark interest rate by 0.75 percentage points, which could boost commodity prices going forward.
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Fed Cuts Key Rate by Quarter-Point, Calls Inflation 'Elevated'
The Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump's presidential election victory this week.
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Canada Orders TikTok to Dissolve; App Not Blocked
Canada announced is ordering the dissolution of TikTok's Canadian business after a national security review of the Chinese company behind the social media app but said it won't block access.
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Nasdaq Soars 1.23% Ahead of Fed Rates Decision
U.S. stocks are ticking higher Thursday, ahead of the Federal Reserve's announcement coming in the afternoon about what it will do with interest rates.
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30-Year Mortgage Rises to 6.79%
U.S. mortgage rates increased to a four-month high this week and could rise further amid fears that President-elect Donald Trump's proposed economic policies could stoke inflation.
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Warner Bros. CEO: Trump Admin May Bring Optimism
Warner Bros. Discovery CEO David Zaslav said a Trump administration might bring "a real positive and accelerated impact on this industry that's needed," specifically deregulation, the Hollywood Reporter reported.
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Vanguard to Pay $40M to Investors Stuck With Big Tax Bills
Vanguard Group, the largest U.S. manager of mutual fund assets, agreed to pay $40 million to settle a lawsuit claiming it stuck ordinary investors in its popular target-date retirement funds with surprisingly large tax bills.
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Caroline Ellison Begins 2-Year Sentence for FTX Fraud
Caroline Ellison, a former top executive in Sam Bankman-Fried's fallen FTX cryptocurrency empire, began her two-year prison sentence Thursday for her role in a fraud that cost investors, lenders and customers billions of dollars.
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15 Reasons Why President Trump Won
Earlier this week and also back in August of this year, I published a prediction that Trump would take over 32 states, win over 300 electoral votes, and bring his allies in the House and Senate to victory.
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Banks to Gain From Looser Capital, Merger Policies Under Trump
The banking industry is expected to win big as former President Donald Trump returns to the White House, ushering in Republican regulators who are expected to ease capital rules and merger approvals, industry experts and analysts said.
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The Fed May Not Be Able to Lower Rates to Its Target
The day after the Federal Reserve lowered the target federal funds rate a half point in September, major stock indexes soared to record highs.
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Rep. Malliotakis: N.Y. Leaders Put Migrants Over Citizens
Rep. Nicole Malliotakis, R-N.Y., told Newsmax on Thursday that one reason President-elect Donald Trump did so well in New York is that Gov. Kathy Hochul and Mayor Eric Adams "prioritized border crossers" over legal immigrant groups.
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Wall Street Cheers Trump's Return to White House
President-elect Donald Trump's White House victory immediately energized Wall Street.
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Market Rallies Likely to Continue Short-Term on Trump Win
Wednesday's trading session witnessed a historic moment, with major U.S. indexes surging to all-time highs after Donald Trump's election to the White House.
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Worker Productivity Rises Modestly; Labor Costs High
U.S. worker productivity increased moderately in the third quarter, resulting in only a gradual slowdown in labor costs that could cast a cloud over the inflation outlook.
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Fed Rate Cut Plans Likely Unchanged by Trump Victory
The U.S. Federal Reserve is widely expected to cut interest rates by a quarter point Thursday, looking beyond the election results to continue easing borrowing costs on the back of cooling inflation.
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Elf Beauty, Dollar General Bet Big on Rural Market
Elf Beauty, a maker of affordable cosmetics, is betting on rural markets and a tie-up with Dollar General to fuel its expansion as it hedges against a slowdown in the U.S. cosmetic industry where shoppers have shied away from pricey makeup.
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Weekly Unemployment Claims Increase Moderately
The number of Americans filing new applications for unemployment benefits rose marginally last week, suggesting no material change in labor market conditions and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.
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Nippon Steel Seeks to Close US Steel Deal Before Trump Inauguration
Japan's Nippon Steel hopes to close its $15 billion deal to buy US Steel by year-end before Republican Donald Trump retakes the White House in January, a senior executive said, as the acquisition is core to its future growth.
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Warner Bros Discovery Misses on Studio Unit Weakness
Warner Bros Discovery missed Wall Street estimates for third-quarter revenue Thursday, as its studio business took a hit from fewer blockbuster releases.
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Conference Board's Economic Indicators a 'Recession Signal'
Fresh on the heels of September's sharp decline in the Consumer Confidence Index, The Conference Board recently announced that two other leading indicators of the nation's economic health also experienced significant declines.