Stocks surge even though consumers feel lousy. Here's why
CNN
It's a bad news is good news day on Wall Street again. Stocks soared, and are set to finish the week with solid gains, after a key economic report showed a record low in consumer confidence levels.
Investors cheered the drop in the University of Michigan's consumer sentiment reading in June. Why? Growing recession fears may mean that the Federal Reserve, which has begun to aggressively hike interest rates to fight inflation, could reverse course by the end of 2023 and cut rates again in order to deal with a slowing economy.
The Dow surged nearly 700 points, or 2.3%, in late afternoon trading Friday and is now up 2.6% for the holiday-shortened trading week. The US market was closed Monday in observance of Juneteenth.
The jury in the case of former Uvalde police officer Adrian Gonzales is back in a Corpus Christi courtroom as the trial enters its second week.
The Department of Homeland Security on Monday said it would invest $115 million in counter-drone technologies to secure the World Cup and events marking 250 years of American independence.
Democrats are getting the news they’d been hoping for out of Alaska, with former US Rep. Mary Peltola launching a Senate campaign on Monday morning.
When the Supreme Court, led by Justice Neil Gorsuch, ruled in 2020 that federal law protected transgender workers from discrimination, the justices appeared to launch a new era of rights for a historically shunned group.
Cuba’s leader has pushed back on US President Donald Trump’s demand that the Caribbean nation “make a deal” with Washington, as Trump said Havana would be cut off from the Venezuelan oil and money that it’s relied on for decades.
Hundreds of Border Patrol officers are mobilizing to bolster the president’s crackdown on immigration in snowy Minneapolis, Homeland Security Secretary Kristi Noem said Sunday, as tensions between federal law enforcement and local counterparts flare after an ICE-involved shooting last week left a mother of three dead.
A suspect has been arrested after a fire tore through Beth Israel, the only synagogue in Jackson, Mississippi, on Saturday, leaving the congregation forced to rebuild from the ashes — again.
The Smithsonian has taken down details about President Donald Trump’s impeachments from an exhibition at the National Portrait Gallery,
President Donald Trump is weighing a series of potential military options in Iran following deadly protests in the country, two US officials told CNN, as he considers following through on his recent threats to strike the country should they use lethal force against the Iranian people.
Nationwide outcry over the killing of a Minneapolis woman by an Immigration and Customs Enforcement agent spilled into the streets of cities across the US on Saturday, with protesters demanding the removal of federal immigration authorities from their communities and justice for the slain Renee Good.
Since early December the US Coast Guard and other military branches have boarded and taken control of five oil ships that had previously been sanctioned, all either accused of being in the process of transporting Venezuelan oil or on their way to take on oil that has been subject to US sanctions since President Donald Trump began a pressure campaign against the leadership of the country during his first term.
This high school sophomore is aiming for a Supreme Court upset in transgender sports case
A Virginia man accused of plotting with his family’s au pair to kill his wife and another man, who had been lured to the home via a sexual fetish website, is set to face trial this week.