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Stocks climb after Fed says rates may stay low for longer
NEW YORK (AP) — Stocks edged further into record heights on Wall Street Thursday after the Federal Reserve made a major overhaul to its strategy, one that could keep interest rates low for longer. The S&P 500 rose 0.2% after earlier veering through a jumbled day of trading. Prices for stocks, bonds and gold made several U-turns after Fed Chair Jerome Powell gave a highly anticipated speech, where he essentially said the Fed may continue efforts to prop up the economy even if inflation rises above its target level of 2%, as long as it had been weak before then. Long-term Treasury yields rose.
Pelosi endorses Rep. Richard Neal in Democratic primary
BOSTON (AP) — U.S. House Speaker Nancy Pelosi gave an enthusiastic endorsement Thursday of U.S. Rep. Richard Neal as the long-time incumbent and chair of the powerful House Ways and Means Committee tries to fend off a Democratic primary challenge by Holyoke Mayor Alex Morse.
Stocks tick up after Fed says rates may stay low for longer
NEW YORK (AP) — Stocks are ticking further into record heights in afternoon trading on Wall Street Thursday after the Federal Reserve made a
The Latest: Laura weakens to tropical storm, moves inland
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US long-term mortgage rates fall; 30-year at 2.91%
WASHINGTON (AP) — U.S. average rates on long-term mortgages fell this week, with historically low levels continuing to fuel demand for homes.
Putin: Russia is ready to provide security help to Belarus
MINSK, Belarus (AP) — Russian President Vladimir Putin warned that he stands ready to send police to Belarus if protests there turn violent but sees no such need now, while Belarusian police dispersed a protest in the capital and detained scores Thursday, raising pressure on the opposition.
Oil industry assesses damages at refineries, plants
NEW YORK (AP) — The energy industry is assessing damages caused by storm surges and high winds as Hurricane Laura cut a dangerous path across the coastlines of Texas and Louisiana, making landfall early Thursday.
The Latest: Chlorine leaks from Louisiana chemicals factory
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The Latest: Hurricane Laura topples Confederate statue
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The Latest: Chemical fire billows in Hurricane Laura's wake
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The Latest: Laura still a hurricane 170 miles after landfall
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The Latest: Laura's feared eye destroyed homes in Louisiana
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Stocks rise after Fed says rates may stay low for longer
NEW YORK (AP) — Stocks are pushing further into record heights on Wall Street Thursday after the Federal Reserve made a
The Latest: 1st death reported from Hurricane Laura
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Stocks open mostly higher after Fed says rates will stay low
NEW YORK (AP) — Stocks are opening mostly higher on Wall Street after the Federal Reserve said it would keep interest rates low even if inflation tops its 2% target. Fed Chair Jerome Powell announced the policy change in a highly anticipated speech. The S&P 500 was up 0.2% in the early going, a day after setting its latest record high. Losses for some big technology companies including Facebook held the gains in check. Treasury yields bounced around as traders absorbed the Fed’s new policy, and were trending higher. The price of gold, which would benefit from a long period of low rates, rose 1%.
The Latest: Hurricane Laura damage less than expected
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More than 1 million Americans file for unemployment, again
WASHINGTON (AP) — Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales and other segments of the economy rebound from a springtime collapse.
Fed: Rates to stay ultra-low even after inflation picks up
WASHINGTON (AP) — The Federal Reserve announced a significant change Thursday in how it manages interest rates by saying it plans to keep rates near zero even after inflation has exceeded its 2% target level.
More than 1 million Americans applied for jobless benefits
WASHINGTON (AP) — Just over 1 million Americans applied for unemployment benefits last week, a sign that the coronavirus outbreak continues to threaten jobs even as the housing market, auto sales and other segments of the economy rebound from a springtime collapse.
The Latest: 6 hours after landfall, Laura remains Cat. 2
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