NEW YORK—Stocks fell Thursday after reports suggested the U.S. job market remains much more resilient than expected. The S&P 500 lost 35.23, or 0.8 percent, to 4,411.59. The Dow Jones Industrial Average dropped 366.38, or 1.1 percent, to 33,922.26, and the Nasdaq composite gave up 112.61, or 0.8 percent, to 13,679.04. While a sturdy labor…
Stock Market Today: Wall Street Falls After Hot Jobs Data Raises Threat of High Rates
Americans’ Excess Savings From The Pandemic Are Now Depleted, Say Federal Reserve Economists
July 6, 2023
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Business & MarketsFederal Reservehousehold savingsinflationMarketspersonal financePolicies & ImpactsrecessionSocial Issuesstimulus cashUSUS News
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A team of Federal Reserve economists found that the cash surplus accumulated by American households over the past few years since the start of the pandemic has now largely evaporated. The expenditure of household excess savings by U.S. consumers partially came from government pandemic stimulus checks, which caused the spur in economic growth over the…
Hudson River Tunnel Project Gets $6.9 Billion In Federal Money
The Hudson River tunnel project that’s part of the Gateway program will receive $6.9 billion in federal money, Biden administration officials have announced. “I’m thrilled to announce the new Gateway tunnel will receive $6.88 BILLION thanks to our infrastructure law,” Sen. Chuck Schumer (D-N.Y.) said in a post on social media, referring to the $1.2…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 6)
July 6, 2023
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Benchmark U.S. crude oil for August delivery rose 1 cent to $71.80 a barrel Thursday. Brent crude for September delivery fell 13 cents to $76.52 a barrel. Wholesale gasoline for August delivery rose 2 cents $2.54 a gallon. August heating oil fell 1 cent to $2.48 a gallon. August natural gas fell 5 cents to…
How Major US Stock Indexes Fared July 6
Stocks closed lower after reports suggested the U.S. job market remains much more resilient than expected. The S&P 500 fell 0.8 percent Thursday. The Dow lost 366 points, or 1.1 percent, and the Nasdaq fell 0.8 percent. While a sturdy labor market keeps the economy out of a long-expected recession, it could also push the…
California and Truck Manufacturers Strike Deal on State Emissions Rules
July 6, 2023
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California state air regulators and truck and engine manufacturers said on Thursday they had agreed on state emissions rules that will give companies more flexibility to meet requirements. The California Air Resources Board (CARB) said the “Clean Truck Partnership” with the Truck and Engine Manufacturers Association (EMA) includes new flexibility for manufacturers to meet emissions…
Tesla and Chinese Rivals May Sign Truce After EV Price War With Socialist Values Pledge
July 6, 2023
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Business & MarketsBYDChinaChina Business & EconomyChina NewsChinese RegimeCompanieseconomic policieseconomyelectric vehicleElon MuskInvestmentMarketsMedia & Big Techprice warSocialistSpecial TopicsTech CompetitionteslaWarren Buffett
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Tesla and its rival electric vehicle manufacturers in China signaled a truce after a months-long price war and agreed to a “socialist values” pledge. Tesla CEO Elon Musk, who is also the owner of Twitter and SpaceX, and Chinese automaker CEOs, agreed to adhere to a “core socialist values” pledge and to compete fairly in…
Mark Levin Says Target Won’t Sell His Book Due to Concerns Liberal Customers May Get ‘Offended’
July 6, 2023
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Conservative radio personality Mark Levin’s upcoming book has been banned from sale by Target as the mega retail chain was reportedly worried the book would offend Democrats. “Target has informed my publisher, Simon & Schuster, that it will not carry my new book when it is released on Sept. 19,” Mr. Levin said in a…
Listings for Lake Homes and Lots Jump Nearly $6 Billion Since Winter
A new report from Lake Homes Realty in Hoover, Alabama, shows that lake home and lot listings have escalated to $5.9 billion since February of this year. Over the past five months, lake properties have been flooding the market with a total of almost 74,000 currently for sale in 34 states across the nation. The…
Finland Goes Nuclear, Sees Energy Prices Drop 75 Percent
Finland is leading the way in cheaper energy prices for its citizens. In April this year, Finland’s Olkiluoto 3 nuclear reactor started regular output and should meet around 14 percent of Finland’s electricity demand. Expected to produce energy for at least 60 years, the new reactor has created energy prices that are 75 percent cheaper….
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