Category: Economy

DOWS SETS NEW RECORD as President Trump Announces US Withdrawal from Paris Climate Accord

President Trump withdrew from the Paris Climate Accord on Wednesday. The White House audience today broke out in applause when President Trump announced the United States was withdrawing from the Paris Climate Accord. The Dow closed at 21,114.18 today. The index was up 135 points on Thursday. U.S. equities closed higher on Thursday, the first trading day in June, as Wall Street got ready for the release of the monthly jobs report. The Nasdaq composite gained about 0.8 percent, hitting intraday and record highs. The S&P 500 also rose nearly 0.8 percent to notch all-time highs, with materials, financials...

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Rich Retirees Hoarding Cash Out of Fear…

There’s a time in everyone’s life to save. There’s also a time when you’re supposed to spend. That time is commonly known as retirement. Millions of Americans aren’t doing that, however, which has put the U.S. in a perverse situation. Younger generations aren’t saving enough as their income slips further behind previous generations. Older Americans meanwhile sit atop unprecedented piles of assets built through stock market and real estate booms. Yet these retirees, or at least the affluent ones, aren’t spending it. It turns out they’re afraid of the unknown. A new study finds many U.S. retirees keep saving...

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Facebook Shares Drop As Ad Growth Slows

Facebook executives have warned investors about overestimating sales growth prospects, stating that the platform is limited by the number of ads that they can display. Bloomberg reports that following a conference call related to their first-quarter earnings report, Facebook stated that they were expecting revenue growth to be down “meaningfully” once the company decreases the number of advertising spots in users news feeds over fears that advertising saturation on the platform may affect user experience. As a result, Facebook shares fell as much as 4.2 percent despite first-quarter sales beating estimates and a 17 percent increase in monthly users to 1.94 billion....

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Plunging oil prices and energy companies hit stock indexes

NEW YORK (AP) — Oil prices are plunging again Thursday and energy companies are taking sharp losses. While most U.S. stocks are falling in afternoon trading, major indexes are little changed. Health insurers are a bit higher and hospitals are lower as the House passes a bill intended to roll back much of former President Barack Obama’s health care law. KEEPING SCORE: The Standard & Poor’s 500 index remained at 2,388 as of 2:30 p.m. Eastern time. The Dow Jones industrial average lost 18 points, or 0.1 percent, to 20,939. The Nasdaq composite was also stable at 6,072. The...

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Apple CEO Pledges $1 Billion Towards Creation of US Manufacturing Jobs

Apple CEO Tim Cook announced Wednesday that his company is investing $1 billion in the creation of US manufacturing jobs. Speaking to Mad Money host Jim Cramer on CNBC, Apple CEO Tim Cook announced that the company would be creating a $1 billion fund to promote advanced manufacturing jobs across America. “We’re announcing it today. So you’re the first person I’m telling,” said Cook to Jim Cramer on Wednesday. “Well, not the first person because we’ve talked to a company that we’re going to invest in already.” Apple will reportedly announce their first investment in May. “We’re announcing it today....

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