Wall Street continued a broad selloff Monday, as the Dow plunged a record 1,175 points amid growing inflation fears. The Dow Jones Industrial Average closed at 24,345, down 4.6%. The S&P 500 fell 113 points, or 4.1%, to 2,648. The Nasdaq Composite dropped 273 points, or 3.78%, to 6,967. The Dow fell as much as […]
Category: Market
Dow Jones Falls More Than 600 Points Falling Memo Release
The stock market closed sharply lower, extending a weeklong slide, as the Dow Jones industrial average plunged more than 600 points. Stocks ended their worst week in two years Friday, and the Dow’s drop was its biggest in percentage terms since June 2016. Several giant U.S. companies dropped after reporting weak earnings, including Exxon Mobil […]
Economy Strong As Trump Prepares For State Of The Union Address
The U.S economy is humming, and President Trump will undoubtedly take credit when he delivers his first State of the Union address on Tuesday. “The stock market is shattering one record after another,” Trump told his Cabinet earlier this month. “Unemployment is at a 17-year low.” In a recent ABC/Washington Post poll, nearly 6 out […]
Trump Looks To Rescind Frank-Dodd Bank Rules Further
Trump said during White House event Tuesday that he want to give banks the freedom to loan to customers deemed too risky under Dodd-Frank, the sweeping post-crisis financial rules enacted in 2010. “We’re looking now at Dodd-Frank because we have to free up so that the banks can loan money to great people because they […]
The Dow Jones Continues To Set New Records
The Dow Jones industrial average just did something it has never done in its 121-year history. The 30-stock average is now up more than 5,000 points in a year, marking its biggest annual-points gain ever. This following a 140-point rally Monday which sent it to an all-time high. The Dow also notched a record close […]
Almost 200,000 Private Sector Jobs Added In November
U.S. businesses added a robust 190,000 jobs in November as the job market maintained a solid pace of growth amid tightening labor conditions, a private survey showed on Wednesday. The pace of hiring last month slowed from October’s 235,000 jobs after a surge of activity followed a sharp drop in jobs due to the hurricanes that slammed into […]
Trump’s Mar-A-Lago Resort To Hire 70 Foreign Workers
President Donald Trump’s upscale Mar-a-Lago club received permission from the federal government to temporarily hire 70 foreign housekeepers, waiters and cooks to fill out its staff during its upcoming busy season, with its managers attesting there aren’t enough Americans qualified, willing and available to do the work. The president’s hiring of foreign workers at the […]
Sears To No Longer Sell Whirlpool, Maytag, KitchenAid
Sears Holdings is cutting its century-old ties with Whirlpool and will no longer sell the company’s products, which include Maytag, KitchenAid and Jenn-Air subsidiaries, according to an internal Sears memo sent to stores last week. The memo was reviewed by CNBC. “Whirlpool has sought to use its dominant position in the marketplace to make demands […]
Dow Jones Hits Record High Of Over 23,000
The Dow Jones industrial average crossed 23,000 mark for the first time on Tuesday — just two and a half months after it breached the 22,000 milestone. Stocks boosting the blue-chip index included insurer UnitedHealth and Johnson & Johnson, which reported better-than-expected earnings. Shares have mounted their historic rally amid continued optimism on Wall Street […]
Gun Stocks Rise In Aftermath Of Las Vegas Massacre
Shares of gun makers jumped more than 3% in early trading Monday after the mass shooting in Las Vegas. Storm Ruger (RGR) was up $1.85, or 3.6%, to $53.55 after the opening bell and American Outdoor Brands (AOBC), the former Smith & Wesson, rose 64 cents, or 34.2%, to $15.89. The deadly shooting at a […]
Nike Chooses Players Side In National Anthem Protest Debate
After President Trump unleashed a verbal tirade on the NFL at a rally in Alabama on Friday, and NFL owners and players responded on Saturday, many wondered how NFL sponsors would respond to the controversy. On Monday, Nike responded—and took a clear position. In a statement sent to the media, the company said: “Nike supports […]
Wall Street Continues To Soar To Record Highs
U.S. stock benchmarks carved out another round of records on Friday, with a big assist from rallying telecommunication and bank shares, as Wall Street shook off North Korea’s latest missile launch. The Dow Jones Industrial Average rose 64.86 points, to 0.3%, to close at 22,268.34, logging its fourth straight record close and its sixth consecutive […]