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New York (CNN Business)Americans’ credit card debt is shrinking rapidly during the coronavirus recession. That’s a sharp contrast with the last two economic downturns. The amount of consumer revolving credit, which is mostly credit cards, plunged by another $24 billion in May, the Federal Reserve said Wednesday. This costly form of debt is down more […]
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Indonesian bonds have been stuck in a trading range over the past month but the convergence of several positive factors means their outlook is looking increasingly positive. Sovereign debt in Southeast Asia’s largest economy may lure investors due to the potential for hedging costs to move lower, the favorable balance of positioning, and their relatively […]
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CNN’s Don Lemon scolds Terry Crews, says Black Lives Matter is about police brutality, not Black-on-Black violence CNN host Don Lemon explains to actor Terry Crews what Black Lives Matter is about. CNN anchor Don Lemon made the claim that Jesus Christ was "not perfect," which Pastor Robert Jeffress said "makes him and his network […]
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US jobless claims for the week that ended Saturday totaled 1.3 million, the Labor Department said Thursday. That came in below the consensus economist estimate of 1.38 million. Thursday's report marked the 14th straight week of declining claims. It also brought total filings over a 16-week period to nearly 50 million. Continuing claims, the aggregate […]
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U.S. stock futures were generally higher Thursday, one day after Wall Street rallied as major tech stocks such as Apple and Microsoft led the way even as daily coronavirus cases kept spiking. The Dow Jones Industrial Average on Wednesday added nearly 180 points or 0.7%. The Nasdaq advanced 1.2% and logged another record closing high. […]
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U.S. stock futures were pointing to a higher open Wednesday, one day after Wall Street's sell-off that saw the Dow Jones Industrial Average break its two-session winning streak with a nearly 400 point, or 1.5%, decline. The S&P 500 and Nasdaq saw their five-session winning streaks end with roughly 1% declines. The Nasdaq's slip followed Monday's record high […]
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Rocket Companies Inc., the parent company of the mortgage giant founded by billionaire Dan Gilbert, filed for an initial public offering, disclosing an annual profit for the past three years. The Detroit-based company, which owns Rocket Mortgage and Quicken Loans, listed the size of the offering in filing as $100 million, a placeholder amount that […]
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Asian stocks looked set for a mixed start Wednesday after their U.S. peers declined on renewed concerns over the epidemic’s economic impact. The dollar climbed and Treasuries gained. Futures dipped in Japan and Australia, and rose in Hong Kong. Contracts on the S&P 500 were steady after the gauge closed about 1% lower, with almost […]
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U.S. stock futures were flat in overnight trading, following weakness in equities in the previous session. Dow futures rose 40 points, indicating a gain of 0.16%. The S&P 500 and Nasdaq-100 also were set to open higher, with gains of 0.08% and 0.12%, respectively. Zoom In IconArrows pointing outwards On Tuesday, the Dow Jones Industrial […]
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Ark Invest's Genomic Revolution ETF is crushing the market this year, and investment chief and portfolio manager Cathie Wood says investors still haven't woken up to the potential of the technology. The ETF has rocketed more than 60% this year and more than doubled its value in the last three years. Wood also told Business […]
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