Editorial Roundup: United States
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Donald Trump nominates Pete Hegseth, Elon Musk, and Vivek Ramaswamy for his administration; Trump projected as President-elect with 72,312,911 votes against 75,449,964 for his opponent; National Election results show 214 House seats up for election; Vice President Kamala Harris criticized for defending Biden's integrity amid investigation; Biden's mishandling of classified material leads to calls for him not to seek a second term; Trump’s victory impacts Middle East dynamics, particularly regarding Iran and Israel; Abortion rights measures succeed in several states, with significant victories in Arizona and Missouri; Democrats urged to reassess their approach post-election; Trump's tariff policies raise concerns among global leaders; Editorials reflect on the implications of Trump's win for domestic and international policies.

#Trump #Election #Biden #Harris #Abortion #MiddleEast #Tariffs #Democrats #Republicans #Editorial

https://abcnews.go.com/US/wireStory/editorial-roundup-united-states-115796057 

 Stock market today: Asian stocks decline as China stimulus plan disappoints markets
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Asian stocks fell on November 11, 2024, led by a 2.2% drop in Hong Kong's Hang Seng index, as China's 6 trillion yuan ($839 billion) stimulus package failed to meet investor expectations. The stimulus aims to help local governments refinance debt rather than jump-start economic growth, according to Stephen Innes of SPI Asset Management. China's inflation rate rose 0.3% year-on-year in October, down from 0.4% in September. The Hang Seng closed at 20,270.77, while the Shanghai Composite lost 0.4% to 3,437.90. Japan's Nikkei 225 slipped 0.4%, Australia's S&P/ASX 200 dipped 0.5%, and South Korea's Kospi fell 1%. U.S. futures were higher, with the S&P 500 rising 0.4% to 5,995.54 on November 8, 2024, marking its biggest weekly gain since early November 2023. Treasury yields eased, and consumer sentiment rose for the fourth consecutive month. The yield on the 10-year Treasury slipped to 4.30%.

#StockMarket #China #Stimulus #Inflation #HongKong #Economy #Trump #UsFutures #TreasuryYields #ConsumerSentiment

https://abcnews.go.com/US/wireStory/stock-market-today-asian-stocks-decline-china-stimulus-115721922 

 Fed chair says Trump can't remove him. Could Trump still influence interest rates?
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Jerome Powell, chairman of the Federal Reserve, stated he would not resign if asked by President-elect Donald Trump, asserting that Trump cannot legally remove him. Trump allies, including Sen. Mike Lee and Elon Musk, expressed support for Trump's potential influence over the Fed. Experts noted that while Trump could attempt to challenge Powell's position, legal ambiguities exist regarding the grounds for removal. Trump could also push Congress to amend the Federal Reserve Act to weaken its independence. However, experts doubt Trump's ability to significantly influence interest rates in the short term, as any removal attempt would likely face legal challenges and market backlash. Powell's term expires in 2026, allowing Trump to appoint a new chair then. The independence of the Fed is crucial for maintaining stable inflation and employment.

#FederalReserve #DonaldTrump #JeromePowell #InterestRates #Economy #Politics #2024Election #FinancialStability #Congress #MarketImpact

https://abcnews.go.com/Business/fed-chair-trump-remove-trump-influence-interest-rates/story?id=115636961 

 By the numbers: Where the economy stands on Election Day
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Consumer prices rose 2.4% in September 2024 compared to a year ago; inflation peaked at about 9% in 2022; nationwide average gas price is $3.10, a 9% decline from last year; U.S. economy grew at 2.8% annualized rate over three months ending September 2024; 10 consecutive quarters of economic growth; 254,000 jobs added in September 2024; unemployment rate at 4.1%; average 30-year fixed mortgage rate is 6.72%, up from 6.08% in September; 52% of voters consider the economy extremely important for presidential choice; Kamala Harris and Donald Trump are key candidates.

#Economy #Election #Inflation #Jobs #GasPrices #MortgageRates #Voting #2024 #UsBureauOfLaborStatistics #GallupPoll

https://abcnews.go.com/Business/numbers-economy-stands-election-day/story?id=115512409 

 Election Day 2024 live results: The 7 swing states have yet to be projected
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Polls closed on November 5, 2024; first results show Kamala Harris and Donald Trump in a tight race; 538 forecasts both candidates have equal chances; New York projected for Harris with 28 electoral votes; Sarah McBride becomes first openly transgender person elected to Congress; abortion is a top issue for voters, especially women under 30; Harris leads Trump 52% to 28% on abortion trust; Alabama's 2nd District shows Democrat Figures leading with 62%; Wisconsin reports 20% of votes with Harris at 51% and Trump at 47%; Tammy Baldwin leads Senate race in Wisconsin with 55%; New York's Senate race projected for Kirsten Gillibrand.

#Election2024 #KamalaHarris #DonaldTrump #SwingStates #Abortion #Polling #Congress #LiveResults #SenateRace #HouseRace

https://abcnews.go.com/538/live-updates/election-results-2024/?id=115468646 

 Election security updates: FBI 'aware' of fake news clip urging people not to vote
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FBI acknowledges awareness of a fake news clip discouraging voting; heightened security measures implemented at polling places across the U.S.; 24-year-old man assaulted an election judge while waiting to vote on November 5, 2024; ABC News tracking election security developments amidst misinformation concerns.

#ElectionSecurity #Misinformation #Fbi #Voting #2024Elections #PollingPlaces #Assault #FakeNews #Usa #Courtroom

https://abcnews.go.com/Politics/live-updates/election-safety-2024/?id=115455767 

 Here's how presidential election recounts work in the battleground states
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Recent presidential recounts have not changed the winner in battleground states; polling shows narrow margins between Vice President Kamala Harris and former President Donald Trump; automatic recounts may be triggered if vote margins are thin; recount requests depend on state rules; concerns raised about election certification and rogue officials rejecting voter will.

#Election #Recount #KamalaHarris #DonaldTrump #BattlegroundStates #Polling #VoterRights #ElectionCertification #2024Election #AutomaticRecount

https://abcnews.go.com/Politics/presidential-election-recounts-work-battleground-states/story?id=114992480 

 Boeing workers agree to new contract offer, concluding strike
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Boeing machinists voted 59% in favor of a new contract; the strike lasted seven weeks; the contract includes a 35% raise over four years and a $7,000 bonus; Boeing CEO Kelly Ortberg emphasized teamwork and moving forward; the vote took place on November 4, 2024.

#Boeing #Strike #Contract #Machinists #Union #Raise #Bonus #KellyOrtberg #Vote #Labor

https://abcnews.go.com/Business/boeing-workers-vote-new-contract-end-strike/story?id=115462308 

 Stock market today: Asian shares are mostly higher as China begins major economic meeting
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Asian shares are mostly higher on November 4, 2024; China's leaders begin a major economic meeting expected to provide new support for the economy; Oil prices increased by more than $1 a barrel due to OPEC+ extending production cuts until the end of the year.

#StockMarket #Asia #China #EconomicMeeting #Opec+ #OilPrices #November2024

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-higher-china-begins-115456665 

 House Speaker Johnson says GOP may try to repeal CHIPS Act, then walks it back
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House Speaker Mike Johnson suggested at a New York rally on November 1, 2024, that Republicans 'probably will' attempt to repeal the CHIPS Act, which promotes U.S. semiconductor production; he later clarified his statement, expressing a desire to 'streamline' the legislation instead.

#MikeJohnson #ChipsAct #Republicans #Semiconductors #Legislation #2024Election #NewYorkRally #Politics #Clarification #Streamline

https://abcnews.go.com/Politics/wireStory/house-speaker-johnson-gop-repeal-chips-act-walks-115416774 

 Average rate on a 30-year mortgage in the US rises for fifth straight week
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The average rate on a 30-year mortgage in the U.S. rose to 6.72% from 6.54% for the fifth consecutive week, marking the highest level since early August; this increase is down from 7.76% a year ago according to Freddie Mac; reported on October 31, 2024.

#Mortgage #InterestRates #FreddieMac #RealEstate #Finance #UsEconomy #HousingMarket #October2024

https://abcnews.go.com/Business/wireStory/average-rate-30-year-mortgage-us-rises-straight-115357576 

 Stock market today: Asia shares decline as investors await earnings, US elections and economic data
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Asian shares mostly declined on October 31, 2024; uncertainty ahead of the US presidential election on November 5; Japan's Nikkei 225 fell 0.5% to 39,069.20; Australia's S&P/ASX 200 decreased 0.3% to 8,153.20; Hong Kong's Hang Seng rose 0.3% to 20,433.83; Shanghai Composite dropped 0.3% to 3,258.04; 538 forecast indicates Trump gains, race still a toss-up.

#Asia #StockMarket #Elections #EconomicData #Nikkei #S&p/asx #HangSeng #ShanghaiComposite #Investors #Uncertainty

https://abcnews.go.com/US/wireStory/stock-market-today-asia-shares-decline-investors-await-115337964 

 UN General Assembly condemns the US economic embargo of Cuba for a 32nd year
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The U.N. General Assembly voted 187-2 to condemn the US economic embargo of Cuba on October 30, 2024; this marks the 32nd consecutive year of such condemnation; Cuba's foreign minister criticized the Biden administration and expressed hope for change with a new US president; the vote tied the record for support first reached in 2019 and again in 2023; only the US and Israel opposed the resolution, with one abstention.

#UnGeneralAssembly #Cuba #UsEmbargo #BidenAdministration #InternationalRelations #Vote #ForeignPolicy #CubanForeignMinister #Israel #Resolution

https://abcnews.go.com/US/wireStory/general-assembly-condemns-us-economic-embargo-cuba-32nd-115323747 

 Elon Musk says Trump's economic plans could cause 'temporary hardship'
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Elon Musk, the world's richest person, supports Donald Trump; Musk warns that Trump's economic plans may lead to 'temporary hardship'; Philadelphia DA sues Musk over $1 million voter giveaway; Musk is a significant donor and speaker in Trump's presidential campaign; 538 forecasts indicate Trump gains, but the race remains a toss-up; Various incidents reported: woman dies from backing into a plane propeller on Oct 28, man arrested for allegedly punching a poll worker on Oct 26, and ballot boxes set on fire in two states on Oct 30.

#ElonMusk #DonaldTrump #Economy #Politics #VoterGiveaway #Philadelphia #Lawsuit #2024Election #Polls #Campaign

https://abcnews.go.com/US/elon-musk-trumps-economic-plans-cause-temporary-hardship/story?id=115316405 

 US economy is believed to have grown at a solid pace again last quarter
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The U.S. economy likely expanded at a 2.6% annual pace from July to September 2024; this growth is attributed to consumer spending despite high interest rates; the Commerce Department will report these findings on November 1, 2024; growth is expected to be lower than the previous quarter's rate.

#UsEconomy #Gdp #ConsumerSpending #InterestRates #EconomicGrowth #CommerceDepartment #2024 #Forecasts #PaulWiseman #AbcNews

https://abcnews.go.com/Business/wireStory/us-economy-believed-grown-solid-pace-quarter-115291075 

 China has deported a VW executive for allegedly using drugs while in Thailand
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A senior Volkswagen executive in China, identified as Jochen Sengpiehl, was deported after allegedly using cocaine and marijuana during a vacation in Thailand. He was detained for 10 days from October 10 to 20, 2024, following an investigation that confirmed drug use on October 5. Drug use in China is an administrative offense punishable by detention and fines. Volkswagen declined to comment on the incident due to labor and data protection laws. China is a significant market for Volkswagen, facing competition from local electric vehicle manufacturers.

#Volkswagen #China #Thailand #DrugUse #Deportation #Executive #Cocaine #Marijuana #AdministrativePenalty #ElectricVehicles

https://abcnews.go.com/International/wireStory/china-deported-vw-executive-allegedly-drugs-thailand-115057344 

 Yellen says isolationism 'made America and the world worse off' in speech to global finance leaders
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Treasury Secretary Janet Yellen addressed global finance leaders on October 22, 2024, stating that the U.S. economy has strengthened due to the Biden administration's rejection of isolationism, implicitly criticizing former President Donald Trump's policies. She highlighted a historic labor market recovery and noted that U.S. economic growth has been nearly double that of other advanced economies in the past two years. Yellen's remarks come two weeks before the U.S. election, where economic issues are pivotal. She emphasized the importance of global economic leadership and cooperation, contrasting with Trump's isolationist stance and proposed tariffs. The IMF is set to release updated statistics on U.S. economic growth following her speech.

#JanetYellen #BidenAdministration #DonaldTrump #UsEconomy #Imf #WorldBank #Isolationism #Tariffs #GlobalFinance #Election

https://abcnews.go.com/US/wireStory/yellen-isolationism-made-america-world-worse-off-speech-115016727 

 Wealthier Americans are driving retail spending and powering US economy
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Wealthier Americans are driving retail spending due to strong gains in income, home equity, and stock market wealth; Federal Reserve research indicates a shift from pre-pandemic spending patterns; lower-income consumers are squeezed by high prices, affecting discretionary spending; inflation-adjusted consumer spending rose 3% in 2022 and 2.5% in 2023; retail sales rose 0.4% from August to September 2024; restaurant sales increased by 1%; the economy grew at an estimated 3.4% in Q3 2024; home equity for the wealthiest increased by 70% since Q1 2020; stock market wealth for the richest rose by 86%; spending for upper-income households increased by 17% since January 2018; lower-income households saw only a 7.9% increase; the share of discretionary spending for the lowest-income households fell by 2.5 percentage points; rising credit card and auto loan delinquencies indicate struggles for lower-income consumers; economists remain optimistic about future spending as inflation-adjusted incomes rise.

#Retail #Economy #Spending #Wealth #Inflation #Income #FederalReserve #ConsumerBehavior #EconomicGrowth #DiscretionarySpending

https://abcnews.go.com/US/wireStory/wealthier-americans-driving-retail-spending-powering-us-economy-114918556 

 Stock market today: Asian shares gain as China releases plan for market support
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Asian shares rise after China's central bank announces support plans; China's economy grew 4.6% in Q3 2024, down from 4.7% in Q2; average growth for 2024 is 4.8%, below the 5% target; central bank guidelines allow loans for stock repurchases at 2.25% interest; Shanghai Composite index up 2.1% to 3,232.14; Hong Kong's Hang Seng index up 2.2% to 20,519.78; U.S. stocks remain near record highs with S&P 500 at 5,841.47; European Central Bank cuts interest rate by 0.25%; U.S. crude oil at $70.92 per barrel.

#AsianMarkets #China #StockMarket #Economy #InterestRates #UsEconomy #Growth #Stimulus #FinancialNews #GlobalMarkets

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-gain-china-releases-114918214 

 Stock market today: Asian shares climb after blockbuster US jobs report
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Asian shares advanced on October 7, 2024, following a strong U.S. jobs report that raised economic optimism; Japan's Nikkei 225 index rose 1.9% to 39,354.63; Prime Minister Shigeru Ishiba, in office since last week, aims for salary increases and economic support; U.S. employers added 254,000 jobs in September, surpassing forecasts; S&P 500 closed at 5,751.07, near its all-time high; oil prices fell with U.S. crude at $74.19 per barrel; tensions in the Middle East continue to impact markets.

#AsianShares #UsJobsReport #StockMarket #EconomicOptimism #Japan #OilPrices #S&p500 #ShigeruIshiba #Employment #MiddleEastTensions

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-climb-after-blockbuster-114552440 

 Jobs report is likely to show another month of modest but steady hiring gains
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The U.S. labor market continues to add jobs, with an expected 140,000 jobs added in September, similar to August's 142,000; economists note a slowdown in hiring momentum; the Federal Reserve raised interest rates 11 times in 2022 and 2023 but began cutting rates last month; inflation remains a concern, with prices 19% higher than February 2021; the economy grew at 3% from April to June and is projected to grow at 2.5% for July-September; layoffs are near record lows, but job openings have decreased to 8 million from a peak of 12.2 million; fewer Americans are quitting jobs, with job-hopping pay premiums declining; average hourly wages are expected to rise 0.2% in September; the Fed plans further rate cuts to support the job market.

#JobsReport #UsEconomy #LaborMarket #Inflation #FederalReserve #Employment #Wages #EconomicGrowth #JobOpenings #September2024

https://abcnews.go.com/US/wireStory/jobs-report-show-month-modest-steady-hiring-gains-114488931 

 Stock market today: Asian shares slip and the yen weakens against the dollar
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Asian shares mostly lower on October 3, 2024; U.S. stocks stalled as investors awaited Middle East developments; U.S. dollar gained against yen, trading at 146.51; Tokyo's Nikkei 225 index rose 2% to 38,552.06; Shigeru Ishiba chosen as new Liberal Democrat leader; Bank of Japan Gov. Kazuo Ueda indicated no further rate hikes; Hong Kong's Hang Seng dropped 1.4% to 22,124.37; oil prices rose amid concerns over Iran-Israel conflict; U.S. benchmark crude oil at $71.10 per barrel; S&P 500 gained less than 1 point to 5,709.54; Nike shares fell 6.8% despite strong profits; Tesla shares down 3.5% despite increased deliveries.

#AsianMarkets #Yen #UsStocks #OilPrices #ShigeruIshiba #BankOfJapan #Nikkei225 #HangSeng #Nike #Tesla

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-mixed-yen-slips-114455433 

 US job openings rise to 8 million as labor market remains sturdy
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U.S. job openings rose to 8 million in August 2024, up from 7.7 million in July; economists expected no change. Layoffs decreased, but job quits fell to the lowest since August 2020. Job openings peaked at 12.2 million in March 2022. Inflation decreased from 9.1% in June 2022 to 2.5% in August 2024. The Federal Reserve raised interest rates 11 times in 2022 and 2023, but cut the benchmark rate by half a percentage point last month. Hiring averaged 116,000 new jobs per month from June to August 2024; September's report is expected to show 143,000 new jobs and an unemployment rate of 4.2%.

#JobOpenings #LaborMarket #Inflation #FederalReserve #Employment #Economy #August2024 #InterestRates #Unemployment #EconomicReport

https://abcnews.go.com/Business/wireStory/us-job-openings-rise-8-million-labor-market-114385588 

 Fed Chair Powell says the US economy is in 'solid shape' with more rate cuts coming
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Federal Reserve Chair Jerome Powell indicated that more interest rate cuts are forthcoming, contingent on economic developments; the Fed's current interest rate is approximately 4.8%; two additional quarter-point cuts are anticipated at meetings in November and December 2024; inflation fell to 2.2% in August, while core inflation rose slightly to 2.7%; unemployment decreased to 4.2%, still above last year's low of 3.4%; hiring has slowed to an average of 116,000 jobs per month; Powell emphasized the Fed's goal is to maintain a healthy economy and job market, not to prevent a recession; the neutral rate is estimated at about 3%; differing views among Fed officials on the pace of rate cuts were noted.

#FederalReserve #InterestRates #JeromePowell #Economy #Inflation #Unemployment #JobMarket #RateCuts #Nashville #EconomicPolicy

https://abcnews.go.com/Business/wireStory/fed-chair-powell-us-economy-solid-shape-rate-114360248 

 A looming port strike could fuel inflation and cause layoffs, experts say
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Tens of thousands of dockworkers are set to strike as soon as Oct. 1; a port shutdown could cost the economy up to $4.5 billion daily; East and Gulf Coast ports account for over half of U.S. container imports; a prolonged strike could drive up prices and cause layoffs; 75% of U.S. imported bananas come through these ports; potential price increases may delay Federal Reserve interest rate cuts; manufacturing disruptions could lead to layoffs in related industries; the last East and Gulf Coast strike lasted seven weeks in 1977; President Biden can intervene under the 1947 Taft-Hartley Act but is currently monitoring the situation.

#Dockworkers #Strike #Inflation #Economy #Manufacturing #Biden #Tafthartley #SupplyChain #Labor #Shipping

https://abcnews.go.com/Business/looming-port-strike-fuel-inflation-cause-layoffs-experts/story?id=114070962 

 Stock market today: Wall Street drifts around its record heights
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U.S. stocks are near record highs as of September 25, 2024; S&P 500 up 0.1%, Dow Jones up 5 points, Nasdaq up 0.2%; 41st all-time high for S&P 500 this year; Treasury yields steady after consumer confidence drop; Federal Reserve expected to cut interest rates by half a percentage point at next meeting; Cintas stock rose 1.1% after strong profit report; Stitch Fix fell 34.5% due to revenue forecast; KB Home down 5.8% despite increased orders; global markets mixed with Shanghai up 1.2%, South Korea down 1.3%, London down 0.1%; job market concerns persist as hiring slows.

#StockMarket #S&p500 #FederalReserve #Cintas #StitchFix #InterestRates #ConsumerConfidence #GlobalMarkets #EconomicOutlook #WallStreet

https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-extend-gains-after-114065506 

 Wider Middle East war could spike oil prices and rekindle US inflation, experts say
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Israeli airstrikes in Lebanon have killed about 550 people and injured 1,850 since September 24, 2024; potential wider conflict could push gas prices above $5 per gallon; oil prices surged 1.5% on September 24, 2024, and have climbed over 8% in two weeks; U.S. oil production reached a record 12.9 million barrels per day in 2023; Iran's involvement could disrupt global oil supply; weak economic performance in Europe and China is currently lowering oil demand; experts warn of inflationary shocks from rising oil prices.

#MiddleEast #OilPrices #UsEconomy #Inflation #Israel #Hezbollah #Iran #GasPrices #GlobalSupply #EconomicImpact

https://abcnews.go.com/US/wider-middle-east-war-spike-oil-prices-rekindle/story?id=113922941 

 Unemployment is low but rising quickly. Is it reason to worry?
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Unemployment rate increased from 3.7% to 4.2% in 2024; Federal Reserve cut interest rates to maintain job growth; Acting Labor Secretary Julie Su not concerned about hiring slowdown; Economists divided on labor market outlook; Job growth slowed from nearly 400,000 jobs/month in 2022 to 116,000 jobs/month; 'Prime age' workers at a 23-year high; Claudia Sahm's 'Sahm Rule' indicates rising unemployment may precede recession; Over 10% of Americans underemployed or out of labor force; Future job market trajectory uncertain.

#Unemployment #Economy #FederalReserve #JobGrowth #InterestRates #LaborMarket #Recession #EconomicAnalysis #Employment #Inflation

https://abcnews.go.com/Business/unemployment-low-rising-quickly-reason-worry/story?id=113868600 

 Biden to celebrate progress of American economy in Thursday remarks
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President Joe Biden will speak on September 19, 2024, at the Economic Club of Washington, D.C., to celebrate progress in the American economy, highlighting the first key interest rate cut since 2020 and falling inflation. White House Chief of Staff Jeff Zients emphasized that the remarks will not declare victory but will outline significant progress and ongoing challenges, particularly in childcare and housing costs. National Economic Adviser Lael Brainard noted the need for more affordable housing and the importance of enabling more workers to participate in the labor force. Concerns about rising unemployment and geopolitical risks were addressed, with officials asserting the economy remains healthy.

#Biden #Economy #InterestRates #Inflation #Housing #Employment #Covid19 #EconomicPolicy #Affordability #GeopoliticalRisks

https://abcnews.go.com/US/biden-celebrate-progress-american-economy-thursday-remarks/story?id=113833192 

 GOP Gov. DeWine defends Haitian immigrants: 'They came to Springfield to work'
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Ohio Governor Mike DeWine defended Haitian immigrants in Springfield, stating they are legal and came to work, countering claims from former President Donald Trump that they are eating pets. DeWine emphasized the positive impact of the immigrants on the local economy, noting Springfield's population increase from 58,000 to 73,000. He condemned conspiracy theories and hate group activities in the area, announcing $2.5 million in state funding to improve primary care access due to increased patient numbers. DeWine expressed support for the Republican nominee while acknowledging legitimate border issues.

#HaitianImmigrants #MikeDewine #DonaldTrump #Springfield #Ohio #Economy #ConspiracyTheories #HateGroups #PrimaryCare #Politics

https://abcnews.go.com/Politics/gop-gov-dewine-defends-haitian-immigrants-springfield-work/story?id=113690058 

 Congress targets Chinese influence in health tech. It could come with tradeoffs
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Complete Genomics, a San Jose biotechnology company, faces potential exclusion from the U.S. market due to ties with China; the U.S. House passed the BIOSECURE Act with a 306-81 vote on September 12, 2024, aimed at countering China's influence in health tech; the bill prevents federal funding from benefiting companies linked to China, including Complete Genomics, BGI, MGI, WuXi AppTec, and WuXi Biologics; supporters argue it protects health data and reduces reliance on China, while opponents warn it could delay drug development and raise costs; Rep. Brad Wenstrup sponsors the bill, emphasizing national security; critics, including Rep. Jim McGovern, argue against targeting specific companies; the bill allows eight years for U.S. companies to sever ties with Chinese firms; BIO supports the bill, citing national security concerns.

#Congress #China #HealthTech #Biotechnology #NationalSecurity #Legislation #CompleteGenomics #BiosecureAct #DrugDevelopment #Innovation

https://abcnews.go.com/US/wireStory/congress-targets-chinese-influence-health-tech-tradeoffs-113651967 

 30,000 Boeing workers are poised for a potential strike. Here's what's at stake
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30,000 Boeing workers are set to vote on a tentative agreement with the IAM on September 12, 2024; the agreement includes a 25% raise over four years, but workers sought a 40% increase; a strike could begin as soon as September 13, 2024; Boeing's CEO Kelly Ortberg took over last month; Boeing carries nearly $60 billion in debt and has seen a 40% drop in share price in 2024; a strike could weaken Boeing's production and impact the U.S. economy, which Boeing contributes nearly $80 billion to annually; the IAM represents 33,000 workers in Washington, Oregon, and California; workers express frustration over compensation amid rising living costs and company mismanagement.

#Boeing #Strike #Union #Iam #Labor #Economy #Ceo #Wages #Employment #Aerospace

https://abcnews.go.com/Business/30000-boeing-workers-poised-potential-strike-stake/story?id=113616770 

 Stock market today: Wall Street is steady following economic reports with few surprises
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U.S. stocks are mixed on September 12, 2024; S&P 500 up 0.2%, on track for fourth winning week; Dow Jones down 45 points (0.1%); Nasdaq up 0.5%; Nvidia rose 2.6% after an 8.1% jump; Moderna down 17% after pushing break-even forecast to 2028; Treasury yields steady; unemployment benefits applications ticked up; wholesale prices up 1.7% in August; Fed expected to cut rates by 0.25% next week; Kroger shares up 3.3% after strong profit report; Alaska Air Group up 0.9% after raising profit forecast; Delta Air Lines initially rose but fell 0.6%; European Central Bank cut rates by 0.25%; Japan's Nikkei 225 index rose 3.4%.

#StockMarket #Economy #Nvidia #Moderna #FederalReserve #InterestRates #Kroger #AlaskaAir #DeltaAirLines #TreasuryYields

https://abcnews.go.com/Business/wireStory/stock-market-today-asian-shares-rally-encouraged-wall-113611327 

 US filings for unemployment benefits inch up slightly but remain historically low
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Jobless claims rose by 2,000 to 230,000 for the week of Sept. 7, 2024; four-week average of claims increased by 500 to 230,750; total Americans collecting jobless benefits rose by 5,000 to approximately 1.85 million for the week of Aug. 31; claims averaged 213,000 per week in the first four months of 2024; claims hit 250,000 in late July; employers added 142,000 jobs in August, up from 89,000 in July; revised report shows U.S. economy added 818,000 fewer jobs from April 2023 to March 2024; Fed raised interest rates 11 times in 2022 and 2023 to combat inflation; inflation nearing Fed's 2% target; analysts expect a quarter-point rate cut at next Fed meeting.

#Unemployment #JobMarket #Economy #InterestRates #Inflation #LaborDepartment #JoblessClaims #Employment #FederalReserve #EconomicTrends

https://abcnews.go.com/Business/wireStory/us-filings-unemployment-benefits-inch-slightly-remain-historically-113617788 

 Fact-checking Kamala Harris and Donald Trump's 1st presidential debate
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The first presidential debate of the 2024 election took place on September 10, 2024, at Philadelphia's National Constitution Center, hosted by ABC News; Vice President Kamala Harris and former President Donald Trump were the participants; Harris claimed 16 Nobel laureates warned Trump's plan could increase inflation, which was mostly true; she also stated Trump proposed a 20% tax on goods, which is true but needs context; Trump claimed inflation is at its worst in history, which is false; Harris said Trump left the worst unemployment since the Great Depression, which needs context; Trump killed a bipartisan border security bill, which is true; Trump falsely claimed Haitian migrants were eating pets in Ohio; Harris claimed Trump intends to implement Project 2025, which needs context; Trump said he would not sign a national abortion ban, contradicting Harris's claim; Trump falsely stated no one was fired over the Afghanistan withdrawal; Harris's claim about Trump's fracking stance needs context; Trump claimed he offered 10,000 National Guard troops for January 6, which is false; Harris's claim about Trump's immunity from prosecution is partly true; Trump's claim about the Nord Stream 2 pipeline is mostly false; Harris's assertion about Trump's Taliban deal needs context; Trump's claims about abortion laws and the 2020 election loss are false; Trump's assertion about military equipment left in Afghanistan is false; Harris's claim about Trump's Central Park 5 ad is true; Trump's claim about love letters to Kim Jong Un is false; Harris's claim about clean energy investments needs context; Trump's comments about an assassination attempt are false; Trump's statement about Ashli Babbitt's shooting is misleading.

#Debate #Factcheck #Harris #Trump #2024Election #Politics #Economy #Immigration #Abortion #Afghanistan

https://abcnews.go.com/Politics/fact-checking-kamala-harris-donald-trumps-1st-presidential/story?id=113567997 

 Harris set to oppose sale of US Steel to a Japanese firm during joint Pennsylvania event with Biden
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Vice President Kamala Harris plans to oppose the sale of U.S. Steel to Nippon Steel during a joint campaign event with President Joe Biden in Pittsburgh on September 2, 2024; both leaders emphasize the importance of maintaining domestic ownership of U.S. Steel; Harris aims to appeal to American steel workers and voters in Pennsylvania, a critical swing state; this event marks their first joint campaign appearance since Biden's endorsement of Harris in July; Harris has positioned herself as a new leader while supporting Biden's policies; she has promised to address inflation and housing shortages; the pair will also attend Pittsburgh's Labor Day parade, part of their campaign blitz ahead of the November elections; Harris will debate Donald Trump on September 10, 2024.

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https://abcnews.go.com/US/wireStory/harris-biden-boost-pennsylvania-set-attend-labor-day-113318294