Wall Street stocks reach records on AI driven rally
U S stocks rose to new records as technology shares led gains. The S P 500 added 0 8 percent to a fresh high while the Nasdaq surged 1 percent and the Dow rose 188 points. Autodesk jumped 6 5 percent after Starboard Value urged leadership changes. Broadcom and Nvidia also rallied as Apple and Microsoft rose. Energy of Big Tech and easing inflation underpinned the breadth while yields rose and investors eyed Fed rate moves.
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Ryan Cohen
Federal judge blocks new Title IX rule in six states
A Kentucky federal judge issued a preliminary injunction blocking the Biden administration’s new Title IX rule in Kentucky Indiana Ohio Tennessee Virginia and West Virginia. The ruling calls the regulation arbitrary and says it redefines sex to include gender identity, exceeding agency authority and risking privacy and First Amendment issues. The decision follows other hold orders in Idaho Louisiana Mississippi and Montana with other states challenging the policy citing transgender athletes and educational fairness.
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IRS move aims to end tax loophole for the wealthy
The Treasury and IRS plan new rules to close partnership basis shifting schemes used by top earners to dodge taxes. Officials say the practice lacks economic substance and demand higher audits. the proposal follows years of underfunding and cites a $160 billion gap between owed and paid taxes by the top 1 percent.
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