NEW YORK—Wall Street rose Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 rallied 1 percent after a suite of reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and retailers are seeing shoppers…
Stock Market Today: Wall Street Rises With Hopes for Pause to Rate Hikes
Large Number of Job Openings May Lead to Rate Hike
June 1, 2023
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Business & Marketseconomic policieseconomyFederal ReserveinflationJOLTSMarketspersonal financePolicies & ImpactsrecessionU.S. labor marketUS
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U.S. job openings unexpectedly rose last month, but the strong labor market numbers could lead the Federal Reserve to raise interest rates again in June. It is beginning to appear that the banking-sector crisis caused by the collapse of Silicon Valley Bank in March had little effect on employers’ strong demand for workers. Fed Chairman Jerome…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 1)
June 1, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for July delivery rose $2.01 to $70.10 a barrel Thursday. Brent crude for August delivery rose $1.68 to $74.28 a barrel. Wholesale gasoline for July delivery was unchanged at $2.44 a gallon. July heating oil rose 6 cents to $2.31 a gallon. July natural gas fell 11 cents to $2.16 per…
How Major US Stock Indexes Fared June 1
Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1 percent Thursday. Several reports painted a picture of a split U.S. economy. The job market remains remarkably solid, but manufacturing is weakening and shoppers of all kinds are…
State Pension Funds Defy Anti-ESG Laws When Voting Their Shares, Watchdog Charges
June 1, 2023
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Anti-ESGBusiness & MarketsCompaniesESGFlorida CFO Jimmy PatronisGov. Ron DeSantisInvestmentMarketspersonal financePoliticsstate pension fundsstocksUS
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Conservative states working to keep state funds out of the environmental, social, and corporate governance (ESG) movement are finding that, when it comes to state fund managers, you can lead them to water but can’t always make them drink. Despite recent laws in states like Florida and Ohio banning the use of municipal dollars for…
Anti-ESG Arguments Sway Some at Environmental Conference
June 1, 2023
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Business & Marketsclimateeconomic policiesESGMarketsPolicies & ImpactsPoliticsThe EconomistUSUS News
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The general consensus at The Economist’s “Sustainability Week” meeting in Washington wasn’t hard to miss: environmental problems pose an existential threat that the market and the government can partner to thwart. That perspective, which can be heard in elite technocratic circles from New York City to Brussels, came across strongly in one early question from…
Musk’s Business Ties to China Involves National Security Risks: Expert
June 1, 2023
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Business & MarketsChinaChina Business & EconomyChina NewsCompaniesElon MuskMarketsNational SecurityteslaThreat from Communist ChinaUSUS-China relations
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Tesla CEO Elon Musk’s deepening relationship with China involves national security and business risks, according to Jon Pelson, author of “Wireless Wars, China’s Dangerous Domination of 5G and How We’re Fighting Back.” Pelson, former chief convergence officer for British Telecom, referred to Musk’s unannounced trip to China on May 30—his first visit to the country…
Musk’s Business Ties to China Pose National Security Risks: Expert
June 1, 2023
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Business & MarketsChinaChina Business & EconomyChina NewsCompaniesElon MuskMarketsNational SecurityteslaThreat from Communist ChinaUSUS-China relations
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Tesla CEO Elon Musk’s deepening relationship with China involves national security and business risks, according to Jon Pelson, author of “Wireless Wars, China’s Dangerous Domination of 5G and How We’re Fighting Back.” Pelson, former chief convergence officer for British Telecom, referred to Musk’s unannounced trip to China on May 30—his first visit to the country…
Conservatives’ Boycotts Wipe Off Billions From Target and Bud Light Valuations, More Brand Battles Upcoming
June 1, 2023
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Bud LightBusiness & MarketsCompaniesconservative boycotteconomyInvestmentMarketsSocial IssuesTargetUSUS News
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Major brands such as Bud Light and Target, among others, are facing immense backlash from supporting LGBTQ causes, with the market capitalization of the firms crashing by double digits in recent weeks. Stores of Target were boycotted after the retail giant rolled out its Pride collection at the beginning of May, including some items targeted at…
ANALYSIS: Conservatives’ Boycotts Wipe Off Billions From Target and Bud Light Valuations, More Brand Battles Upcoming
June 1, 2023
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Bud LightBusiness & MarketsCompaniesconservative boycotteconomyInvestmentMarketsSocial IssuesTargetUSUS News
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Major brands such as Bud Light and Target, among others, are facing immense backlash from supporting LGBTQ causes, with the market capitalization of the firms crashing by double digits in recent weeks. Stores of Target were boycotted after the retail giant rolled out its Pride collection at the beginning of May, including some items targeted at…
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