Senate approves rail funding bill amid warnings and delay
The Senate passed a bill binding rail companies and unions to a September settlement, averting a potential Dec. 9 strike. President Biden said he will sign once the measure reaches his desk, citing avoided job losses and economic damage.
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Markets Mix With Trump Organization Closing Arguments
Stocks mixed as banks and retailers led declines while bonds dipped and major indexes posted modest moves. Inflation fears eased after Powell signaled possible slowing rate hikes, even as prosecutors accused the Trump Organization of fraud in tax-avoidance perks.
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Supreme Court declines emergency bid to revive Biden loan plan
The Supreme Court on Thursday refused an emergency appeal to restart Biden's student loan forgiveness up to $20,000 for millions, keeping the current hold while agreeing to decide the plan's legality early next year. The court left the appeals court ruling in place and extended the repayment pause at least until June 30 next year, amid a conservative majority wary of expansive agency power. Wall Street ended mixed as inflation signals eased in October and traders awaited the jobs report and Fed guidance.
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