Economy
Treasury Secretary Bessent says U.S. GDP could take a hit from the government shutdown
Treasury Secretary Scott Bessent told CNBC’s on Thursday that U.S. economic growth could be hurt by the government shutdown. “This isn’t the way to have a discussion, shutting down the government and lowering the GDP,” Bessent said during a “Squawk Box” interview. “We could see a hit to the GDP, a hit to growth and […]
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Stocks making the biggest moves midday: Pfizer, Nike, Conagra, Corteva, GEO Group, Tesla, Reddit and more
Check out the companies making the biggest moves midday: Drug stocks — Shares of drugmakers rallied a second day as investors bet the industry will strike more deals with the Trump administration. On Tuesday, Pfizer received a three-year exemption to tariffs in exchange for investing in domestic manufacturing and discounting drug prices for Medicaid patients. Pfizer […]
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States sue Zillow, Redfin for alleged antitrust violation in online rental housing
Rafael Henrique | Lightrocket | Getty Images Attorneys general from five states sued Zillow and Redfin on Wednesday, alleging the companies schemed to stop competition in the online housing rental market. The lawsuit follows a similar one filed by the Federal Trade Commission on Tuesday. Officials from New York, Arizona, Connecticut, Washington and Virginia jointly […]
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How stablecoins could change the way Americans shop in stores
Stablecoins are making major strides in mainstream adoption. The blockbuster IPO of USDC issuer Circle and the GENIUS Act stablecoin bill becoming law in the U.S. in July boosted excitement for cryptocurrencies that are pegged to the price of the U.S. dollar. Now, small and medium-sized businesses in the U.S. are exploring how the technology […]
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Stocks making the biggest premarket moves: Lithium Americas, AES, Sunrun, Peloton, Nike and more
Check out the companies making headlines before the opening bell. Lithium Americas — Shares jumped 32% after the Department of Energy said Tuesday it plans to take a 5% equity stake in the lithium miner. AES — The renewable and thermal power producer climbed 11% after a Financial Times report that Blackrock-owned Global Infrastructure Partners […]
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Private payrolls declined in September by 32,000 in key ADP report coming amid shutdown data blackout
Private payrolls saw their biggest decline in two-and-a-half years during September, a further sign of labor market weakening that compounds the data blackout accompanying the U.S. government shutdown. Companies shed a seasonally adjusted 32,000 jobs during the month, the biggest slide since March 2023, payrolls processing firm ADP reported Wednesday. Economists surveyed by Dow Jones […]
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India holds rates steady at 5.5% in line with forecast as central bank assesses earlier cuts
India’s central bank kept its policy rate unchanged at 5.5% Wednesday, in line with the expectations of economists polled by Reuters, as it assessed the impact of earlier cuts. Inflation moderated significantly in the first quarter, but growth could decelerate in the second half of the financial year due to global trade uncertainties, said Sanjay […]
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Government shutdown live updates: Funding ends after Trump, GOP, Democrats fail to cut deal
The shutdown could cause hundreds of thousands of federal workers to be furloughed and a slew of key programs and services to be shuttered. Source
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The government shutdown fight hinges on ACA tax credits — and if immigrants should get them
The federal government may soon shut down, in large part because of a debate between Republicans and Democrats over Obamacare subsidies and whether some immigrants should get those financial benefits. Republicans claim Democrats want to give health care to “illegal immigrants.” Democrat, in turn, say that’s a lie. Democrats say they are only trying to […]
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Stocks making the biggest moves midday: Pfizer, Semtech, Spotify, UiPath, CoreWeave and more
Check out the companies making the biggest moves midday: Semtech — The signal components maker rallied 8% after the company announced the launch of new optical receivers for artificial intelligence networks alongside Poet Technologies. On top of that, Oppenheimer upgraded the stock to outperform following a meeting with management. Credo Technology — Shares fell more […]
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