WASHINGTON (AP) – Surging interest rates are intensifying the challenges for the U.S. The costs of mortgages, auto loans and credit card debt have all risen in response. economy and threatening to derail the Federal Reserve´s drive to tame inflation without causing a deep recession. The jump in longer-term rates coincides with other threats, from higher gas prices and this week´s resumption of student loan payments to autoworkers´ ongoing strike and the risk of a government shutdown next month.
The collective impact of higher rates across the economy could also weaken the government´s own finances. Since mid-summer, the yield on the 10-year Treasury note has steadily climbed, causing a spillover rise in other borrowing costs. NEW YORK (AP) – Wall Street rallied in a whipsaw Friday and erased its morning losses after looking deeper into the nuances of a surprisingly strong report on the U.S. Stocks initially tumbled after the strong jobs report raised worries about upward pressure on inflation and the Federal Reserve keeping interest rates high.
The Dow added 288 points, and the Nasdaq composite flipped to a gain of 1.6%. But Treasury yields pared their gains as the report also included some more encouraging nuggets for the Fed´s inflation fighters. The S&P 500 rose 1.2% after erasing an earlier drop of 0.9%. The Dow Jones Industrial Average rose 288.01 points, or 0.9%, to 33,407.58. The S&P 500 rose 50.31 points, or 1.2%, to 4,308.50. In case you loved this short article and you want to receive more info regarding เครดิตฟรี ล่าสุด generously visit the web-page. The Nasdaq composite rose 211.51 points, or 1.6%, to 13,431.34 The Russell 2000 index of smaller companies rose 14.05 points, or 0.8% to 1,745.56.
Eventually, the losses at the hedge fund, Alameda Research, became so large that there was no way to hide them any longer, Wang said in his second day of testimony. NEW YORK (AP) – Sam Bankman-Fried authorized the illegal use of FTX customers´ funds and assets to plug financial gaps at an affiliated hedge fund from the exchange´s earliest days, FTX´s co-founder Gary Wang told a New York jury on Friday, as prosecutors pressed their case that Bankman-Fried was the mastermind behind one of the biggest frauds in U.S.
Fain said GM´s move will change the future of the union and the auto industry. Union President Shawn Fain told workers in a video appearance Friday that additional plants could be added later. DETROIT (AP) – The United Auto Workers union says it will not expand its strikes against Detroit´s three automakers after General Motors made a breakthrough concession on unionizing electric vehicle battery plants.
The delay came shortly after GM agreed to bring electric vehicle battery plants into the UAW´s national contract, essentially assuring that they will be unionized. Beyond the casino world, Clorox also disclosed a cyberattack recently. The maker of bleach and other household products says the attack has caused large-scale disruption of operations – and predicts a significant fall in sales for the first quarter of 2024. But hackers stole other personal information – including names, driver´s license numbers and social security numbers belonging to some customers who did business with MGM prior to March 2019.
NEW YORK (AP) – The data breach that MGM Resorts is calling a cyberattack is expected to cost the casino giant more than $100 million.
