Finance
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Bessent says wages for 'main street workers' in US are up
The figures come as the Trump administration attempts to push the successes of its economic agenda ahead of the midterms in November.
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Dow Jones soars over 900 points to close at new record after strong AI showings, possible Iran deal
The Dow Jones soared over 900 points, which is 1.71%, to close at 54,085. The S&P 500 gained 1.79%, hitting a fresh high for the first time since June and closing at 7,736.52, and the Nasdaq Composite ended with a 2.5% gain to close at 26,584.99.
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Capital One tries to get Trump Org case dismissed, denies claim accounts closed over politics
The Trump Organization's lawsuit claims the bank's silence proves the closures of 385 accounts were political retaliation after the Jan. 6, 2021, Capitol riots.
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Stock market closes with a stumble ahead of looming tariffs
The impending tariffs caused the Dow Jones Industrial Average to drop by 649 points, or 1.5%, and the Nasdaq composite dropped 2.6% on Monday. The S&P 500 index dipped 2%.
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Stocks decline on Asian, European markets after Trump imposes tariffs, ahead of Wall Street opening
The U.S. dollar at the same time has strengthened on the currency markets
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Trump's comments in Davos help fuel accusations that banks are closing accounts of conservatives
Confidentiality rules prohibit banks from telling customers who have been "debanked" why their accounts are closed, which critics say provides cover for banks cutting off businesses or individuals for political reasons.
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S&P warns uncertain federal policy could keep inflation above 2%
"Across U.S. public finance, most sectors will experience stable credit quality in 2025," the S&P report noted. "However, credit pressure could arise amid the new administration's federal policy decisions."
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Existing home sales slipped to lowest level since 1995 as prices climb
On a monthly basis, sales of existing homes climbed 2.2% in December to a seasonally adjusted annual rate of 4.24 million, the quickest pace since last February, according to most recent figures from the National Association of Realtors.
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Single-family rentals hit record high prices, '41% over pre-pandemic norms,' Zillow reports
Multi-family rents have gone up 26% over same time.
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Trump signs executive order promoting cryptocurrency advancements
“The digital asset industry plays a crucial role in innovation and economic development in the United States, as well as our Nation’s international leadership,” the executive order reads.
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Janet Yellen says Treasury will take 'extraordinary measures' to avoid hitting debt ceiling Jan 21
It is not clear how long Congress will have to secure a deal on funding or raising the debt ceiling again once the measures are taken, but in the past it has helped stall the default for several months
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Consumer Price Index increased 0.4% in December, Labor Department
The CPI for December was 2.9%, compared to the same time last year.
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LA Mayor Bass's spending priorities, cuts to the LAFD, affected effort to fight wildfires: Report
The problem began last year after Bass’s involvement in the settling of contract negotiations with public sector unions, which cost the city $4.5 billion over the life of the contracts, according to reports.