Latest News View More Bessent Clears Senate Grilling, Paving Way for Confirmation (Bloomberg) -- Treasury Secretary nominee Scott Bessent is on track to be confirmed following a confirmation hearing Thursday lacking the theatrics some of his would-be Trump administration colleagues have faced, with questions largely keeping to policy issues like the federal budget and trade tariffs.Most Read from BloombergThese Homes Withstood the LA Fires. 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As global borrowing costs rise in a trend led by the U.S. Treasury market, the UK's high-debt, low-growth economy that just months ago appeared to be shrugging off years of post-Brexit gloom is now viewed as vulnerable to capital flight. Traders now expect months of volatility for the pound, which ended 2024 as the top-performing major currency against the dollar due to optimism that the Labour Party's landslide July election win marked the end of years of political instability. 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FreightWaves • 11 hours ago JBHT How blowout bank earnings and a promising inflation report gave the market a much-needed boost Lyft wins dismissal of shareholder lawsuit over earnings report error Stock market today: Nasdaq slide leads stocks lower with earnings, Bessent confirmation hearing in focus United Health Group CEO addresses public outrage over claims denials in Q4 earnings Bank of America Earnings: Fourth-Quarter Profit More Than Doubles BofA Investment Bankers Boost Earnings as Loan Income Rises Bessent to focus on pro-growth fiscal policy. What does that mean? Trump's Treasury Secretary nominee, Scott Bessent, testified in front of the Senate Finance Committee, answering senators' questions about tariffs, sanctions against Russia, the Federal Reserve, the federal minimum wage, and more. 22V Research senior managing director Kim Wallace tells Julie Hyman and Josh Lipton on Market Domination that "pro-growth fiscal policy" will be at the forefront of Trump's Treasury secretary's priorities, but the challenge will be getting Capitol Hill to define what pro-growth policy is. "There was a lot of bipartisan discussion about pro-growth fiscal policy," Wallace highlights, noting, "It's an easy phrase to use [but] it's really difficult to pin down definitionally, and it's much more and more difficult to pass as policy." Wallaces adds that: "There is some notion that spending cuts can get you there, [but] I don't think the data supports that position. We don't have a spending problem that's not caused by automatic spending. That is, the growth in spending in the US comes from mandatory spending ... You're going to have a hard time reducing the deficit significantly, much less to 3%, if you are going to exempt entitlements from that calculation. To watch more expert insights and analysis on the latest market action, check out more Market Domination here. This post was written by Naomi Buchanan. 04:28 'This is just the beginning' for bank profit growth: CFRA analyst 04:56 Mortgage rates hit 7%, Trump policies may ease housing costs 02:42 Why this strategist cautions against sector-based investing 04:37 TSMC shouldn't be impacted by US chip curbs: Analyst on earnings From the Yahoo Finance Newsroom View More Why Trump saving TikTok isn't so legally simple How a useless customer service number got Cash App in big trouble with regulators Scott Bessent’s 3-3-3 plan will turn out more like 2-6-0 'Of course' Fed should be independent, but Trump will 'make his views known': Bessent How TikTok's demise could boost Meta, YouTube, and other rivals Investors cheered December's inflation data. Experts say US economy is not 'out of the woods' yet. Trump Treasury pick Scott Bessent defends sweeping tariffs in contentious Senate hearing Target announces better-than-expected holiday sales, but investors wary of no profit update Premium News View More Why Sequoia Is Doubling Down on Harvey Equities Fall as Markets Weigh Macro Data, Earnings Mid-Atlantic Manufacturing Activity Jumps to Highest Level Since April 2021 Symbotic Signs Deal to Buy Walmart's Advanced Systems, Robotics Business January Homebuilder Confidence Unexpectedly Improves; Expectations Dim Weekly Jobless Claims Rise More Than Expected Equities Mostly Unchanged Intraday After Macro Data, Earnings Target Lifts Holiday-Quarter Comparable Sales Guidance, Affirms EPS Forecast Housing View More China Home Prices Fall at Slower Pace as Stimulus Takes Hold Average rate on 30-year mortgage hits 7% after 5th straight increase, now highest level since May Housing inflation pressures ease in encouraging sign for Fed US Mortgage Rates Top 7%, Reach Highest Since May of Last Year Brookfield Is Planning to Sell Its Spanish Student Housing Business for €1.3 Billion US 30-year mortgage rate tops 7%, highest since May 2024 LA Rental Hits $40,000 a Month as Fires Roil Housing Market Biggest US banks ready mortgage relief for victims of Los Angeles wildfires Personal Finance Home appraisal bias: How to know if you're experiencing discrimination Yahoo Personal Finance • 15 hours ago American Express vs. Marcus by Goldman Sachs: Which online bank has the best HYSA? 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This Is The Ultimate Donald Trump Stock: Is Trump Media A Buy Ahead Of Inauguration Day? Donald Trump is one of the world's most famous businessmen. Now investors can throw in their lot with the former President with DJT stock. Australian December employment surges past forecasts, near-term rate cut seen possible SYDNEY (Reuters) -Australian employment sped past forecasts in December although the jobless rate ticked higher as many more people went looking for work - the combination of trends signalling a healthy labour market that leaves alive the chance of a near-term cut in rates. Driven by an increase in part-time roles, net employment jumped by 56,300 in December from November when it climbed by a downwardly revised 28,200, according to figures from the Australian Bureau of Statistics on Thursday. The labour force also expanded at a similar rate. BP cutting 4,700 jobs worldwide as part of cost-saving drive U.K.-based oil company BP is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive. In an email to staff on Thursday that has been seen by The Associated Press, CEO Murray Auchincloss said the job losses “account for much of the anticipated reduction this year." Auchincloss’s memo said that about 2,600 of the contractors involved in the job cuts have already left the business. Analyst Report: OGE Energy Corp. OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility with electricity generation, transmission, and distribution to 900,000 customers in Oklahoma and western Arkansas. In December 2021, OGE divested its 25.5% stake in Enable Midstream Partners, an oil and gas services company it created in 2013 through a unit exchange merger with Energy Transfer. OGE sold its 95.4 million limited partner units of Energy Transfer throughout 2022. OGE sold its retail gas business in 1928 and no longer has any gas operations. XRP Hits 7-Year High Above $3 as Large Holders Accumulate $3.8B of Tokens Growing speculation of a potential spot XRP ETF is one of the factors driving the surge, one crypto analyst said. XRP Price Surges Past $3. These 3 Factors Are Turbocharging the Crypto. Core inflation declining, new crypto ETFs, and developments in the Ripple vs. SEC case all help XRP price. 1 Hypergrowth Tech Stock to Buy in 2025 This high-flying market darling may not be a great buy right now, but the stock would look great after a quick price correction. Bitwise Crypto Index ETP Delayed Until March by SEC The regulator said it needs more time to evaluate the $1.4 billion fund’s conversion proposal to get off the OTC.
