NEW YORK—Stocks were mixed on Wall Street Wednesday, as indexes drifted between small gains and losses through a quiet day of trading. The S&P 500 edged down by 1.55, or less than 0.1%, to 4,376.86. The Dow Jones Industrial Average slipped 74.08 points, or 0.2%, to 33,852.66, while the Nasdaq composite rose 36.08, or 0.3%,…
Stock Market Today: Wall Street Drifts Through a Quiet Day to Finish Mixed
US Federal Debt Will Soar Despite GOP-Led Cost-Cutting Efforts: CBO
June 28, 2023
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America’s public debt is projected to rise to record levels over the next three decades, according to a new Congressional Budget Office (CBO) analysis, which noted that the government’s finances have improved a bit thanks to the GOP-led debt ceiling deal but overall remain “challenging.” The new forecast, released on Wednesday by the non-partisan spending…
Hundreds of Thousands of Travelers Suffer Through Another Day of Flight Cancellations
Hundreds of thousands of summer travelers suffered through another day of delayed and canceled flights Wednesday, a troubling glimpse into what could happen over the long July 4 holiday weekend as airlines struggle to keep up with surging numbers of passengers. By early evening on the East Coast, nearly 5,800 U.S. flights had been delayed…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 28)
June 28, 2023
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Benchmark U.S. crude oil for August delivery rose $1.86 to $69.56 a barrel Wednesday. Brent crude for August delivery rose $1.77 to $74.03 a barrel. Wholesale gasoline for July delivery rose 8 cents $2.60 a gallon. July heating oil rose 1 cent to $2.41 a gallon. July natural gas fell 16 cents to $2.60 per…
How Major US Stock Indexes Fared June 28
Wall Street drifted to a mixed close on Wednesday. The S&P 500 fell less than 0.1 percent, but held on to a gain for the week. The Dow Jones Industrial Average slipped 0.2 percent, while the Nasdaq composite rose 0.3 percent. General Mills had one of the larger drops after the maker of cereals and…
New Law Makes It Harder for Online Criminals to Sell Fake or Stolen Products
June 28, 2023
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A new federal law will make it harder for online criminals to sell fake or stolen products in the wake of shoplifting gangs selling products on e-commerce sites. The INFORM Consumers Act, which went into effect on June 27, is intended to limit the sales of stolen and counterfeit products online, said the Federal Trade…
Biden Touts ‘Bidenomics’ in Chicago, Says It Restores the American Dream
June 28, 2023
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President Joe Biden pitched his economic plan in a major address in Chicago, trying to persuade Americans that his strategy is producing results by creating record-breaking jobs and investments despite widespread discontent over his handling of the economy. Biden is attempting to define his economic strategy, termed “Bidenomics,” as a substantial departure from the “trickle-down”…
United Airlines CEO Faults FAA as Storms Trigger More Flight Cancellations
United Airlines CEO Scott Kirby faulted the Federal Aviation Administration (FAA) for ordering flight cancellations and delays over the weekend due to severe weather. Thunderstorms and failing equipment at an FAA facility created significant delays for air travelers across the U.S. East Coast on Sunday evening as Washington and New York were forced to briefly halt most incoming flights….
California Man Defrauded $9 Million From Investors in Cow Manure Green Energy Scheme
June 28, 2023
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A California man was sentenced to six years and nine months in prison for running a “green energy” Ponzi scheme, defrauding investors of almost $9 million, according to a June 26 press release from the Department of Justice. Ray Brewer, 66, of Porterville, in California’s Central Valley, defrauded investors of $8,750,000 with farm tours and…
‘So Unprecedented’: Kevin O’Leary to Teach Bud Light Fiasco to College Students
Kevin O’Leary, chairman of investment platform O’Leary Ventures, expressed his intent to teach the Bud Light disaster during his college visits because the seasoned entrepreneur believes the brand has misunderstood its core customer base and is now suffering the consequences. “This is unprecedented in the beer industry. Beer brands take decades to build. And usually,…
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