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Bloomberg
White House Says Saudis ‘Coerced’ OPEC+ to Cut, Stoking Feud
(Bloomberg) — The White House accused Saudi Arabia of coercing other OPEC+ countries into agreeing to a huge cut in oil production last week, escalating a dispute with Riyadh over the move.Most Read from BloombergStocks Surge in Wild Ride After CPI Data Selloff: Markets WrapWorld Faces New Threats From Fast-Mutating Omicron VariantsCore US Inflation Rises to 40-Year High, Securing Big Fed HikeKroger Wants to Merge With Albertsons to Create US Grocery GiantIntel Is Planning Thousands of Job Cuts
MarketWatch
Why stocks scored a historic bounce after another hot inflation report
Stock-market investors can be forgiven for feeling a little dizzy after a day that saw stocks plunge in reaction to another round of hotter-than-expected inflation data only to surge higher and extend gains into the closing bell. “While I certainly wouldn’t classify this morning’s flush capitulatory, the stock market is dealing with disappointing inflation reports a lot better than a short time ago,” said Mark Arbeter, president of Arbeter Investments LLC, in note. The Dow Jones Industrial Average (DJIA) fell just shy of 550 points, or 1.88%, but ended the day up 827.87 points, or 2.8%, at 30,038.72.
TheStreet.com
Taco Bell Brings Back a Unique Menu Item With a Spicy Twist
While fan reaction (and outrage) over the Mexican Pizza remains unmatched in all of Taco Bell’s history, a close second are the Yum! First appearing on menus in 2018, the Nacho Fries are a seasoned version of regular French fries — crispy fries are covered with a mix of loose Tex-Mex spices and served with a side of Taco Bell’s nacho cheese sauce. Looked at another way, Nacho Fries were on every third Taco Bell order across the country.
Investor’s Business Daily
5 Best Chinese Stocks To Buy And Watch
Pinduoduo looks healthy, but most Chinese stocks are struggling in the bear market. BYD, Nio and Li Auto reported September sales.
SmartAsset
Having This Retirement Income Could Reduce Your Social Security Benefits
If someone receiving Social Security benefits earns money by working, the Social Security Administration may reduce the amount of that person’s benefits. This only affects people who start taking benefits before reaching full retirement age. And only income earned from … Continue reading -> The post What Income Reduces Social Security Benefits? appeared first on SmartAsset Blog.
Benzinga
7,300% Return In Just 4 years — Early Investors Hit Big With This Stock
Almost everyone has dreamt of hitting the lottery and played the “What would you do?” game. It’s fun to imagine hitting it big, and every year millions of Americans buy lottery tickets every week, leaving their pursuit of wealth up to fate. Some, however, take their financial futures into their own hands and scour data, press releases and every crevice of the internet for a piece of information that may lead to riches. Netflix Inc. recently released “Eat The Rich,” a documentary outlining GameSt
The Wall Street Journal
Fraud Trial of Nikola Founder Trevor Milton Wraps Up
The trial of Nikola founder Trevor Milton concluded Thursday after closing arguments in which prosecutors called the former executive a con man and the entrepreneur’s lawyer said he didn’t intend to deceive anyone about the electric-truck company’s technology. The jury, which is expected to begin deliberations Friday after receiving legal instructions from the judge, is set to weigh whether to convict Mr. Milton of two securities-fraud charges and two wire-fraud charges. Nikola has said it cooperated with government investigations.
Bloomberg
Bailey’s Gamble Pays Off, for Now, as Kwarteng Rushes Back to UK
(Bloomberg) — Andrew Bailey was arriving at a meeting in Washington on Thursday as reports filtered out that the British government was preparing what could prove to be the mother of all U-turns. Most Read from BloombergStocks Surge in Wild Ride After CPI Data Selloff: Markets WrapWorld Faces New Threats From Fast-Mutating Omicron VariantsCore US Inflation Rises to 40-Year High, Securing Big Fed HikeKroger Wants to Merge With Albertsons to Create US Grocery GiantIntel Is Planning Thousands of J
Reuters
JPMorgan CEO warns higher inflation could push U.S. rates above 4.5%
Consumers are in strong financial health, and are still spending robustly, he told attendees at the Institute of International Finance meeting in Washington. Thereafter, policy makers may have to increase interest rates to more than 4.5% to tame inflation, he said. “It’s bad… those things are huge turbulence which are right in front of us – that can easily cause recession.”
Reuters
Wall Street ends up 2% after sharp reversal; technicals help
U.S. stocks surged to close more than 2% higher on Thursday, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day. The reversal marked a jump of nearly 194 points in the S&P 500 from its low of the session to its high, the biggest intraday jump for the index since Jan. 24. Financials and energy led gains among S&P 500 sectors.
TipRanks
Inflation at 8.2%: 2 ‘Strong Buy’ Dividend Stocks to Protect Your Money
Last month, the Federal Reserve implemented its fifth straight interest rate hike this year, and its third consecutive hike at 75 basis points, bringing its key funds rate up to the 3% to 3.25% range. The move showed that the central bank is deadly serious about taking on the stubbornly high inflation that has been plaguing the economy since the middle of 2021. The Fed’s turn toward an aggressive anti-inflationary policy may not be hard enough, however, as the September data, released this morni
The Daily Beast
‘Daily Show’s’ Trevor Noah Delivers Passionate Defense of John Fetterman
Comedy CentralOn The Daily Show Wednesday night, Trevor Noah took on the John Fetterman interview that “has everyone talking” this week. And he made it very clear where he stands on the Democratic Senate candidate’s ability to serve the Commonwealth of Pennsylvania despite still not having fully recovered from his stroke.After playing an extended clip from the NBC News interview, in which Fetterman was open about the need to use a live closed captioning system to read the questions as the report
Associated Press
McCann suspect won’t face trial in other cases before 2023
A German man who is also suspected in the disappearance of British toddler Madeleine McCann won’t go on trial before next year on charges related to a string of other sexual offenses he is alleged to have committed, a court said Wednesday. Prosecutors in the northern city of Braunschweig announced Tuesday they had charged the 45-year-old in several separate cases involving sexual offenses allegedly committed in Portugal between 2000 and 2017. The suspect has not been charged in the McCann case, in which he remains under investigation on suspicion of murder.
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