Johnson advances temporary funding bill with citizenship proof clause
House Speaker Mike Johnson pushes a short term spending plan to avert a Oct 1 funding gap. The bill would require proof of citizenship for voter registration, a GOP election year priority, while Democrats and several Republicans oppose it. Senate leaders warn the plan is likely to fail without bipartisan talks and a full year budget.
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Wall Street holds firm ahead of expected rate cut
U S stock indexes barely moved as investors awaited the Federal Reserve’s anticipated first rate cut in over four years. The S&P 500 inched up 0.1 percent to 5634.58, the Dow eased 15.90 points, and the Nasdaq rose 0.2 percent to 17628.06 while Intel gained 2.7 percent on expanded Amazon Web Services chip talks and a new foundry push. Philip Morris fell 2.2 percent after warning a $220 million Q3 loss due to Vectura sale.
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Instagram to make teen accounts private by default
Instagram will place users under 18 into restrictive teen accounts in the United States the United Kingdom Canada and Australia beginning Tuesday with migration of existing teens over 60 days. EU teens will see changes later this year. Meta says it will verify ages more often and automatically flag teen accounts posing as adults while limiting private messages and sensitive content.
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Retail sales show resilience ahead of Election Day
US retail sales rose 0.1 percent from July to August led by online, sporting goods and home and garden stores. Despite inflation and higher rates, consumers keep spending, with wages rising and inflation easing to 2.5 percent. Atlanta Fed pegs Q3 growth at 2.5 percent while economists say consumption remains healthy.
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