Finance
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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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Consumer prices rose 8.5% annually in July, as inflation remains stubborn
The CPI increased by 9.1% in June
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Manchin-Schumer deal drops most plans to increase taxes on the rich
The Inflation Reduction Act presents a slimmed down version of the Biden plan
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Three in four millennials are more than $100,000 in debt: report
Millennials on average spend nearly half of their monthly income, 47%, on housing alone
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JetBlue announces offer to buy Spirit Airlines
Offer follows Spirit ending negotiations to merge with Frontier air
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Cryptocurrency CEO pleads guilty to defrauding investors
Investors purchased "BARs," TBIS's digital currency, after Stollery made a series of false statements to entice them
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Ford plans to lay off 8,000 workers to fund electric vehicle push: report
The rumors of cuts come after Ford announced plans last fall to open new electric vehicle plants in Tennessee and Kentucky
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Biden economic adviser admits inflation is 'unacceptably high'
"Half of that increase is energy prices alone," he added
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Stocks close week on a high amid strong retail spending
The strong market performance came after news that U.S. retail sales increased by 1.0% in June
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Strong jobs report prompts speculation of further interest rate hikes
The Federal Reserve, which normally targets an inflation figure of 2%, rose interest rates by 50 basis points (0.05%) in early May
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Stock market posts modest gains on Friday after devastating first six months
On Thursday, the market closed out the first half of 2022 with losses representing the worst first half year since 1970