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Nasdaq 100, S&P 500 Close At Record Highs As Tech Stocks Reclaim Dominance: Thursday's Gainers & Losers
Thursday, June 13, 2024 - 4:35pm | 1243The Nasdaq 100 index posted its fourth consecutive session in the green on Thursday, closing up 0.6% at 19,576 points and reaching new all-time highs as tech stocks drive broader market gains. The S&P 500 also recorded its fourth straight positive day, rising 0.2% to a record closing level of 5...
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Janet Yellen Disagrees With Biden, Says 'Inflation Is About Supply And Demand,' Not Corporate Greed
Thursday, June 13, 2024 - 11:00am | 539Janet Yellen, the U.S. Treasury Secretary, contradicted President Joe Biden’s stance on inflation, attributing it to supply and demand rather than corporate greed. What Happened: Yellen, during a recent interview with CNBC, was asked about the administration’s view on inflation on...
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Janet Yellen Says US Debt Levels Are 'Reasonable,' But Warns About Interest Burden
Thursday, June 13, 2024 - 10:26am | 477Treasury Secretary Janet Yellen affirms that the current U.S. debt load is manageable, provided it remains at its current level relative to the economy. What Happened: On Thursday, Yellen stated in a CNBC interview that the burgeoning national debt is manageable as long as it stays around where it...
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Wall Street Poised To Extend Record Run On Tech Strength, Tesla Soars, GameStop Rebounds: Analyst Says 'Bull Market Has Legs Left'
Thursday, June 13, 2024 - 7:45am | 1232Futures trading suggests a mixed start on Thursday, with tech stocks potentially helping to weather profit-taking-induced weakness. Broadcom Inc. (NASDAQ:AVGO) and Tesla, Inc. (NASDAQ:TSLA) are likely to lead the tech charge, with the former reacting to earnings release and the latter to the...
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Is Donald Trump's Gamble On Tax Cut Renewal Risking An Economic Disaster? The Numbers Seem To Suggest So.
Saturday, June 8, 2024 - 2:12pm | 652Donald Trump aims to attract Wall Street donors with promises of new tax cuts next year. However, there are concerns about adding to the national debt due to the potential $4.6 trillion price tag attached to extending his 2017 tax cuts, reported Bloomberg. Despite the projection, many Republicans...
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Ray Dalio Warns US 'On The Brink' Of Civil War, Fed Minutes Indicate Risk Of Prolonged High Interest Rates And More: Top Economics News This Week
Sunday, May 26, 2024 - 1:16am | 479The week has been a rollercoaster ride in the world of finance and economics. From Ray Dalio’s stark warning about a potential civil war to the Federal Reserve’s hint at ‘higher-for-longer’ interest rates, there’s been no shortage of headlines. Let’s dive into...
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Janet Yellen Acknowledges Rising Cost Of Living 'Is A Problem To A Lot Of People' Amid Persistent Inflation
Friday, May 24, 2024 - 4:49am | 569U.S. Treasury Secretary Janet Yellen has addressed the growing concern over rising living costs, acknowledging it as a significant issue for many Americans. What Happened: Yellen addressed the issue of rising living costs, acknowledging it as a significant problem for many Americans, Financial...
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Treasury Secretary Yellen Rejects Global Billionaire Tax: Big Relief For Elon Musk, Jeff Bezos, Bill Gates And Mark Zuckerberg
Monday, May 20, 2024 - 6:02pm | 944The U.S. has taken a firm stance against a proposed global wealth tax on billionaires, as announced Monday by Treasury Secretary Janet Yellen. This idea, championed by Brazil, France and other nations, aims to reduce economic inequality by targeting the global billionaires. Yellen emphasized that...
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China's Semiconductor Spending Tops US With $142B Commitment: Global Chip Race Heats Up
Monday, May 13, 2024 - 4:07pm | 989Gaining control over the global supply of chips is becoming a central priority for Western governments trying to compete with China in the race to dominate the industry. Pandemic-related disruptions showed how a lack of semiconductors can negatively impact a vast number of industries. Now more than...
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Yellen Calls For Fair Trade With China, Urges Other Central Banks To Limit Currency Interventions
Monday, May 13, 2024 - 12:04pm | 791In an interview on Monday, Treasury Secretary Janet Yellen outlined the current administration’s stance on several key economic issues, including tariffs on China and the need for domestic investment in strategic sectors, such as semiconductors and clean energy, which she believes are...
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5 Things To Know In Investing This Week: The Everybody Shut Up Issue
Wednesday, May 8, 2024 - 9:31am | 2179The Federal Reserve completed its May meeting and kept rates unchanged. So, why did the market rise? The Bank of Japan intervened to save the yen twice to no effect before getting bailed out by the Fed taper and a weak employment report. Irresponsible people in Washington are saying insane things....
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Can Jerome Powell Escape The Pressure Of Politics And The 2024 Election: 'He Has To Do Magic,' Says Market Strategist
Wednesday, May 8, 2024 - 1:20am | 741The Federal Reserve’s Chairman Jerome Powell is under intense scrutiny as the U.S. presidential election approaches. Market experts are questioning his ability to remain independent of political pressure. What Happened: In a recent interview with CNBC’s Last Call, David Zervos, the...
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Federal Reserve Dismisses Rate Hike Fears, Labor Market Cools, Apple Lures Investors With Record-Breaking Buyback: This Week In The Market
Friday, May 3, 2024 - 4:15pm | 578The stock market breathed a sigh of relief as Fed Chair Jerome Powell eased fears of interest rate hikes amid recent inflation surprises. The Fed now plans to hold rates steady longer to ensure inflation moves toward the central bank’s 2% target. In April, the labor market displayed some...
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Xi Jinping Climate Change Envoy Warns US, Europe That Their Efforts Could Stall Global Warming Fight
Thursday, May 2, 2024 - 5:29am | 716China’s special envoy for climate change, Liu Zhenmin, cautioned that the U.S. and Europe’s attempts to curb China’s dominance in green technologies could impede the global fight against climate change. What Happened: Zhenmin, a seasoned diplomat, was appointed by President Xi...
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Janet Yellen Stands Up For Fed's Autonomy As Trump Allies Plan To Gain More Control
Thursday, May 2, 2024 - 1:49am | 650In the face of attempts by allies of former President Donald Trump to undermine the Federal Reserve’s political independence, Treasury Secretary Janet Yellen is stepping up to defend it. What Happened: Yellen, who previously served as the Fed chair, is set to deliver a speech at the McCain...