ABC Business

Fed Chair Powell says he won’t rule out interest rate cut this month

Friday, July 4 by ABC News

(WASHINGTON) -- Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash... Read More.

Court approves sale of 23andMe to nonprofit led by former CEO Anne Wojcicki

Friday, July 4 by ABC News

(NEW YORK) -- A bankruptcy court this week approved the $305 million sale of genetics testing firm 23andMe to a nonprofit organization led by the company's former CEO Anne Wojcicki, the company announced.The 23andMe bankruptcy earlier this year elicited fears about the security of... Read More.

S&P 500 hits record high as stock market surges

Friday, July 4 by ABC News

(NEW YORK) -- The S&P 500 hit an all-time record high on Friday, extending breakneck gains achieved in recent weeks as investors shrugged off concerns about newly imposed tariffs and war in the Middle East.The S&P 500 climbed 0.3%, clocking in for the first... Read More.

The stock market is surging. Will it last?

Friday, July 4 by ABC News

(NEW YORK) -- The stock market has been on a tear in recent weeks, shrugging off newly imposed tariffs, caution at the Federal Reserve and war in the Middle East.The S&P 500 has soared 20% since an April low suffered after President Donald Trump’s... Read More.

2 million student loan borrowers at risk of garnished wages in July

Friday, July 4 by ABC News

(NEW YORK) -- Nearly two million student loan borrowers are at risk of having their wages garnished next month, credit-reporting agency TransUnion said on Tuesday.Fresh data shows a sharp increase in the number of delinquent student loan borrowers in recent months, following the end... Read More.

Consumer confidence sours in June, despite rollback of Trump’s tariffs

Friday, July 4 by ABC News

(NEW YORK) -- Consumer confidence soured in June, erasing some of the boost in shopper attitudes that took hold last month as President Donald Trump rolled back tariffs, Conference Board data on Tuesday showed. The reading fell short of economists' expectations.The fresh data resumes... Read More.

Aflac says cyberattack breach could expose personal data of customers

Friday, July 4 by ABC News

(NEW YORK) -- A group of cybercriminals hacked into data systems at insurance company Aflac, possibly gaining access to sensitive information such as Social Security numbers and health reports, the company said on Friday.Aflac, which boasts millions of customers, “identified suspicious activity” and “stopped... Read More.

Fed expected to hold interest rates steady, defying Trump

Friday, July 4 by ABC News

(WASHINGTON) -- The Federal Reserve on Wednesday will issue a new decision on the level of its benchmark interest rate, testing a wait-and-see approach adopted by the central bank in recent months as it observes potential effects of President Donald Trump's tariff policy.The posture... Read More.

What to know about the GENIUS Act, a crypto regulation bill

Friday, July 4 by ABC News

(NEW YORK) -- The Senate voted 68-30 late Tuesday to pass the GENIUS Act, a bill that aims to regulate some cryptocurrencies.The bill faced some Democratic opposition over President Donald Trump’s cryptocurrency ventures, but it ultimately garnered support from 18 Democrats, including Sens. Cory... Read More.

Stocks close higher, despite intensifying Israel-Iran conflict

Friday, July 4 by ABC News

(NEW YORK) -- Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict.The Dow Jones Industrial Average closed up 317 points, or 0.7%, erasing much of the losses suffered on Friday... Read More.