2024 - Page 275 of 426 - Bean watcher

Aug

17

2024

Market rallies on softer inflation data, Dow jumps more than 350 points

Stocks rose on Tuesday, boosted by encouraging inflation data and a renewed sense of optimism among investors. The Dow Jones Industrial Average rose more than 350 points, bringing the broader market closer to its all-time high. The producer price index (PPI), a measure of wholesale inflation, came in lower than expected, boosting investor confidence and fueling expectations of a less hawkish monetary policy stance from the Federal Reserve. The positive PPI reading set the stage for Wednesday's release of the consumer price index (CPI), a closely watched gauge of headline inflation. The S&P 500 led the rally, gaining more than…

Aug

17

2024

By Lily Chang

Kennedy challenges his New York residency, jeopardizes his seat at the polls

Politics

Robert F. Kennedy Jr.'s presidential campaign has hit a major snag after a New York judge ruled that he does not meet the state's residency requirements to appear on the ballot. The decision stems from a legal challenge questioning the validity of Kennedy's New York address, which was critical to his eligibility to run for office in the state. The judge's ruling found that Kennedy's declared New York residence was a "false" address used solely to qualify to vote. Despite Kennedy's claims of maintaining ties to the state, including real estate and tax returns, the court ruled that his primary…

Aug

17

2024

By Lily Chang

Inflation falls to 2.9% in July, its lowest level in two years

Investments and Business

July saw a moderation in inflation rates, with the annual inflation rate decelerating to 2.9%, a figure last seen in early 2021, according to the latest data from the Labor Department. This slowdown is in line with expectations and is largely attributed to rising housing costs, which suggests a potential reduction in interest rates by September. The Consumer Price Index (CPI), which measures the average change over time in prices paid by urban consumers for a basket of consumer goods and services, rose 0.2% in July. This increase brought the annual increase to 2.9%, slightly below the 3.0% forecast by…

Aug

17

2024

By Lily Chang

W.H.O. issues global health alert for mpox as cases increase in Africa

Health

The World Health Organization (WHO) has stepped up its response to the mpox outbreak by declaring it a global health emergency. The declaration came on Wednesday, marking the second such declaration in the past three years as the virus rapidly spreads to multiple African nations. Currently, the Democratic Republic of the Congo is experiencing the most severe impact of the outbreak, with a reported count of 15,600 cases and 537 deaths. The current outbreak has surpassed the severity of the 2022 episode, during which a similar emergency was declared. Mpox, formerly known as monkeypox, was renamed in 2022 following concerns…