Record US consumer borrowing tops 4 trillion dollars
The Federal Reserve reports December borrowing rose by 16.6 billion dollars, pushing total consumer debt to a new high above 4.01 trillion. Card, auto, and student loan categories rise, with analysts forecasting further gains amid low unemployment and steady income growth. Mortgage rates fall to 4.41 percent as 30 year loans ease. Unemployment benefit claims drop to 234,000 signaling a strong labor market. EU lowers euro area growth forecast to 1.3 percent amid global headwinds including China slowdown and post-Brexit risks.
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Altria Group
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Apple Inc
Freds Inc Fred
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Qualcomm Inc Qcom
Harley Davidson Hog
al It
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Allcells Technologies
Home Depot HD
Bank of America Bac
iShs Emerg Mkts Eem
Red Hat Inc
Boeing Co
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CSX Corp
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BB and SunTrust to merge in $66 billion deal
BB&T and SunTrust announce a merger valued at 66 billion dollars creating a six biggest retail bank with 442 billion in assets and 324 billion in deposits serving over 10 million households. The combined bank will be headquartered in Charlotte and led by a roughly equal ownership split.
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Brian Klock
KBW
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Winston-Salem
David Rolfe
THE
Winston-Salem Journal
US stock indexes fall on renewed global growth worries
Global gloom hits equities with tech health care and banks leading losses. Twitter sinks nearly 10 percent after a weak forecast while investors seek safety in bonds as euro area and UK growth forecasts tighten. Dow, S&P and Nasdaq all retreat, erasing earlier gains.
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Twitter
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Tom Martin
Global Investments
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