Senate budget clash pushes US government toward shutdown
House Speaker Kevin McCarthy rejects Senate funding plan as Congress faces a looming midnight funding deadline. Senate aims to extend funding through Nov 17 with Ukraine and disaster aid, while House works on a CR and border-security focus. McCarthy vows to resolve impasse, but GOP divisions persist amid tense talks and intra-party clashes.
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U.S. economy grows at 2.1 percent pace in Q2
The government reports a 2.1 percent annualized expansion for April through June, down from 2.2 percent in Q1. Consumer spending slowed to 0.8 percent while business investment rose 7.4 percent and state local outlays jumped 4.7 percent. Inflation cools, but higher rates pose recession risks amid mixed signals about the soft landing.
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Oil and Bond Markets Ease Lift Stocks Slightly
Wall Street rose on Thursday with the S&P 500 up 0.6 percent to 4,299.70, the Dow up 0.3 percent at 33,666.34, and the Nasdaq up 0.8 percent to 13,201.28 as oil prices fell and Treasury yields eased. Meta Platforms led gains with 2.1 percent, Nvidia up 1.5 percent, while high rates linger, keeping focus on a slower pace of Fed rate cuts and potential inflation pressures.
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Associated Press
Court rejects Trump's bid to delay trial
An appeals court in New York rejected Donald Trump’s bid to delay the civil trial brought by Attorney General Letitia James. The ruling clears Judge Arthur Engoron to preside over a Monday non jury trial in Manhattan, with Trump among many potential witnesses.
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