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I’ve long touted Alphabet (NASDAQ:GOOG) as one of the top Magnificent 7 tech stocks I think is worth buying and holding for the long-term. That thesis still holds true, perhaps more so today than a few months ago.
» Read more about: US says new fuel economy rule could lead to return of station wagons »
By ALEX VEIGA, AP Business Writer
The average rate on a 30-year U.S. mortgage fell again this week, slipping close to its low point so far this year.
The decline brings the average long-term mortgage rate to 6.19% from 6.23% last week, mortgage buyer Freddie Mac said Thursday.
» Read more about: Average US long-term mortgage rate falls to 6.19%, near its low for the year »
US private-sector hiring data released Wednesday painted a downcast picture of the job market in the world’s biggest economy, especially among small businesses.
The report showed US companies shed 32,000 jobs in November, payroll firm ADP said, in a surprise drop set to firm up expectations of a Federal Reserve interest rate cut next week.
» Read more about: Poor hiring data points to US economic weakness »
Leading economist Mohamed El-Erian is calling for sweeping reforms at the Federal Reserve, warning that the central bank’s credibility is at risk following a prolonged period of policy missteps and internal dysfunction in recent years.
El-Erian,
Speaking at a cabinet meeting, Trump said Treasury Secretary Scott Bessent, who has overseen the vetting process, “does not want the top Fed job”. He did not indicate who he intends to nominate. Trump had told reporters on Sunday that he had made his decision but declined to say whether the frontrunner was Kevin Hassett,
WASHINGTON (TNND) — Another rate cut seems likely at next week’s Federal Reserve meeting — unless Chair Jerome Powell invokes the latest economic data as grounds for a postponement.
Former White House Economic Advisor Steve Moore said he thinks there’s “a high probability” of a rate cut.
» Read more about: Federal Reserve rate cut looms as Trump eyes new chair amid Powell tensions »
By CHRISTOPHER RUGABER, AP Economics Writer
WASHINGTON (AP) — Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency.
» Read more about: Bessent says White House may ‘veto’ Federal Reserve presidents »
WASHINGTON (AP) — Treasury Secretary Scott Bessent said Wednesday he would push a new requirement that the Federal Reserve’s regional bank presidents live in their districts for at least three years before taking office, a move that could give the White House more power over the independent agency.
In comments at the New York Times’ DealBook Summit,
» Read more about: Bessent says Federal Reserve Board could ‘veto’ future regional presidents »
In spite of declining revenue and tighter margins, Tesla (TSLA)’s stock experienced a remarkable increase of 63%, in the past nine months, driven by an astonishing 130% rise in its P/E ratio.
SHANGHAI, CHINA – SEPTEMBER 5, 2024 – Spectators look at Tesla’s Core Technology Optimus humanoid robot and a cybertruck off-road station car at the Bund Conference in Shanghai,
