The US Department of Education’s work to cancel student debt for tens of millions of Americans is likely to come to a halt with the election of Donald Trump, who has called the effort “disgraceful” and “not even legal.” When Trump re-enters the White House in January, he will likely direct his administration officials to … Read more
The Federal Reserve approved its second straight interest rate cut on Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy. Following September’s big half-percentage point cut, the Federal Open Market Committee cut its benchmark overnight lending rate by a quarter of a percentage point, or 25 basis … Read more
The labor market will be the focus of Powell’s remarks, says DA Davidson’s Ragan Fed officials’ current view of the labor market could be one of the key takeaways from Powell’s press conference on Thursday, according to James Ragan, director of wealth management research at DA Davidson. “The biggest thing he can talk about is … Read more
Check out the companies making headlines in midday trading. Dutch Bros – Shares surged more than 32% after the coffee chain’s better-than-expected third-quarter results. Dutch Bros. earned 16 cents per share on revenue of $338 million for the period, while analysts polled by LSEG had penciled in 12 cents per share on revenue of $325 … Read more
A bottle of Vicks DayQuil cold and flu medicine containing phenylephrine is displayed for sale at a CVS Pharmacy store in Hawthorne, California, on September 12, 2023. Patrick T. Fallon | AFP | Getty Images The Food and Drug Administration on Thursday proposed ending the use of a common ingredient found in many popular over-the-counter … Read more