Dow rallies 500 points as stocks rebound from inflation fears
CNN
Stocks are rallying sharply on Thursday with the Dow gaining some 500 points mid-morning. Worries about sudden spikes in inflation, which weighed on the market at the start of the week, were brushed off in favor of a rebound.
The Dow (INDU) rose 1.5%, or 500 points, while the S&P 500 (SPX) was up 1.4%. The Nasdaq Composite (COMP), which booked the biggest losses over the past few days, was up 1.3%. All week, inflation fears have put a damper on the market. Even though some price increases are a good sign for the economic recovery, investors worry that sudden spikes from the reopening could force the Federal Reserve to change its ultra-loose monetary policy stance. And higher interest rates would be bad for stocks.
Facing intense pressure over the threat of a shutdown in less than two days, lawmakers are racing to push through a government funding plan by Friday’s midnight deadline.
Arizona Democratic Rep. Raúl Grijalva has died, according to his congressional office. He was 77.
military options” to ensure unfettered American access to the Panama Canal, one of several new directives outlined in what amounts to a major overhaul of US strategic priorities, according to a new memo that was sent to senior leaders and reviewed by CNN.
The death of a woman who was partially paralyzed in the Columbine High School shooting has been ruled a homicide, raising the death toll of the 1999 attack to 14.
President Donald Trump’s administration asked the Supreme Court in a series of emergency appeals Thursday to allow him to move forward with plans to end birthright citizenship, elevating a fringe legal theory that several lower courts have resoundingly rejected.
A federal judge has ordered half a dozen federal agencies to “immediately” reinstate probationary employees fired last month as part of the Trump administration’s effort to rapidly shrink the federal workforce.
The Trump administration is expected to invoke a sweeping wartime authority to speed up the president’s mass deportation pledge in the coming days, according to four sources familiar with the discussions.
The man said he was locked in an eight-by-nine-foot room and was fed two sandwiches a day with two cups of water for years, according to a police affidavit in Connecticut.
Pete Buttigieg is expected to forgo a run for Michigan’s open US Senate seat in 2026, according to two people familiar with the former transportation secretary’s plans, setting up a potential presidential bid in 2028.
The ambiguity of the president’s warning could pave the way for lawsuits. It also could be damaging, critics say, if it has the effect of stifling freedom of speech, among the nation’s most fundamental and heralded rights.
New Hampshire Democratic Sen. Jeanne Shaheen’s decision to not seek reelection marks the latest bit of tough luck for Senate Democrats, who face an increasingly challenging midterm election map as they fight to climb out of the minority.
President Trump’s move to revoke deportation protections for Venezuelans has sparked a sense of betrayal in Doral, Florida, a Miami suburb that is home to more Venezuelan immigrants than any other city in the US.
A month after losing her job at the Department of Veterans Affairs, Corinne Bazarnyj is still waiting to be approved for unemployment benefits.