Finance
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United States debt hits $40 trillion for first time in history
Treasury data showed that the national debt is now $40,,047,425,768,420.22, with $32.26 trillion being held by the public and $7.78 trillion held by intragovernmental holdings.
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Congressional Budget Office estimates US borrowed $1.8 Trillion in first 10 months of FY2026
The Committee For a Responsible Budget said the amount translates to approximately $6 billion a day and it expects the U.S. to surpass $2 trillion in borrowing in the current fiscal year despite not being in a recession.
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Bessent says wages for 'main street workers' in US are up
The figures come as the Trump administration attempts to push the successes of its economic agenda ahead of the midterms in November.
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Dow Jones soars over 900 points to close at new record after strong AI showings, possible Iran deal
The Dow Jones soared over 900 points, which is 1.71%, to close at 54,085. The S&P 500 gained 1.79%, hitting a fresh high for the first time since June and closing at 7,736.52, and the Nasdaq Composite ended with a 2.5% gain to close at 26,584.99.
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Capital One tries to get Trump Org case dismissed, denies claim accounts closed over politics
The Trump Organization's lawsuit claims the bank's silence proves the closures of 385 accounts were political retaliation after the Jan. 6, 2021, Capitol riots.
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Stocks rally as easing Middle East tensions push oil prices lower
Falling crude prices provided a boost to U.S. markets, easing inflation worries for airlines and heavy fuel consumers
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Dow Jones plummets 1,100 points for greatest single day loss since April 2025
The Dow Jones closed 1,153 points lower than it opened at, which is a 2.2% drop. The S&P 500 and the Nasdaq Composite also suffered smaller setbacks Wednesday, with the S&P dropping 1.5% and the Nasdaq falling 1.7%.
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NY City Council members set to vote on proposal to give themselves 18.2% pay raise
Mayor Zohran Mamdani and Speaker Julie Menin have both said they wouldn’t accept the salary increases.
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Former US comptroller calls on Trump, Congress, all Americans to address nearly $40T national debt
Former United States Comptroller General David Walker thinks the issue is not a matter of if the debt collapses, it’s a matter of when.
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S&P 500 closes with strongest quarter since 2020
The S&P 500 rose nearly 15% in the past quarter alone, marking its best quarterly showing since the same period in 2020 when the world was beginning to recover from the COVID-19 pandemic.
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Former Federal Reserve Chairman Alan Greenspan dies at 100
Ronald Reagan appointed Greenspan to lead the Fed in 1987, and he remained in the position until 2006.
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Kevin Warsh to lead his first Federal Reserve interest rate meeting on Wednesday
Investors expect the Federal Reserve to keep the interest rate steady on Wednesday, but the official decision will be made at 2 p.m. Eastern, followed by a press conference at 2:30 p.m. Eastern.
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SpaceX shares up over 20% from opening price, as CEO Elon Musk becomes world's first trillionaire
Forbes now estimates CEO Elon Musk's net worth at $1.1 trillion, making him the world's first trillionaire.