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Trump’s White House win sends Dow up 1,000 points
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Fox Business, National

Trump’s White House win sends Dow up 1,000 points

By Suzanne O'Halloran  | Fox Business U.S. stocks soared Wednesday as Donald Trump defeated Vice President Kamala Harris in one of the most contentious elections in U.S. history.  The Dow Jones Industrial Average jumped over 1,300 points midday Wednesday, continuing the climb seen in the pre-market session after the president elect took the stage at his headquarters in Florida early morning, thanking his supporters and promising to restore the country.  "We're going to pay you back. We are going to do the best job. We're going to turn it around. It's got to be turned around, and it's got to be turned around fast. And we're going to turn it around" said Trump.  READ THE FULL STORY AT FOX BUSINESS
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Trump win ignites crypto frenzy that sends bitcoin to a record high
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Breitbart, National

Trump win ignites crypto frenzy that sends bitcoin to a record high

By AP | Breitbart The price of bitcoin hit a new high Wednesday as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies. Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing its previous record set in March. Other cryptocurrencies also soared, including ether, the world’s second most popular cryptocurrency after bitcoin, which rallied 8%. Another token, dogecoin, rocketed as much as 18%. It’s the favorite cryptocurrency of billionaire Elon Musk, one of Trump’s most prominent supporters. READ THE FULL STORY AT BREITBART
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Stock market would crash under Harris’ tax plan, billionaire hedge fund manager warns
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Fox Business, National

Stock market would crash under Harris’ tax plan, billionaire hedge fund manager warns

By Kristen Altus  | Fox Business A potential Trump nominee for U.S. Treasury secretary, who also happens to be a billionaire hedge fund manager, has explained how Vice President Kamala Harris’ tax plan could send markets into a quick plunge. "In the early parts of her campaign, she was supportive of the tax on unrealized gain[s]. And if that was implemented, I think it would be devastating for the markets and cause a market crash," Paulson & Co. President and founder John Paulson said on "Cavuto: Coast to Coast," Monday. "Harris says she wants to raise taxes on capital gains from 20% to 28%. The corporate tax rate, she wants to go from 21% to 28%, Paulson added. "But the one big one, she wants to tax unrealized gains." READ THE FULL STORY AT FOX BUSINESS
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Biden/Harris deliver more migrants than jobs in October
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Breitbart, National

Biden/Harris deliver more migrants than jobs in October

By Neil Munro | Breitbart President Joe Biden’s border deputies invited four times more migrants in October than the number of extra jobs created by CEOs, according to data obtained by NewsNation. Business groups created 12,000 additional jobs in September, amid an economic slowdown at the strike at Boeing. The 12,000 number was one-ninth of the 112,500 new jobs that were expected. But Biden’s deputies also invited 49,840 more parole migrants to fly or bus into the U.S. for jobs during October. Those “parole migrants” are welcomed by the  Office of Field Operations (OFO) at the ports of entry along the border. READ THE FULL STORY AT BREITBART
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Manufacturing sector sheds 78K jobs in last three months
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Fox Business, National

Manufacturing sector sheds 78K jobs in last three months

By  Eric Revell | Fox Business The manufacturing sector continued to shed jobs in October, bringing its tally of job losses to 78,000 over the past three months. The Labor Department's Bureau of Labor Statistics on Friday released its jobs report for October, which found that the manufacturing sector lost 46,000 jobs last month, according to the agency's preliminary analysis. That followed a loss of 6,000 jobs in September, which is also a preliminary figure, as well as a decline of 26,000 jobs in August. READ THE FULL STORY AT FOX BUSINESS
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Wendy’s to close 140 restaurants by the end of the year
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Fox Business, National

Wendy’s to close 140 restaurants by the end of the year

By Daniella Genovese  | Fox Business Fast food giant Wendy's is shuttering 140 underperforming locations through the end of 2024 as it looks to improve its "restaurant footprint and overall system health."  To counter the closures, though, the Ohio-based company is working to replace many of these units with "new restaurants at better locations with significantly improved sales and profitability," Wendy's CEO Kirk Tanner told analysts on its third quarter earnings call.  The company thoroughly reviewed individual restaurants to ensure they meet sales expectations and are profitable enough to support growth, and said that the locations closing are "outdated and in underperforming areas," with operating margins far below the system average, Tanner said. READ THE FULL STORY A...
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US economy grew 2.8% in the third quarter, slower than expected
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Fox Business, National

US economy grew 2.8% in the third quarter, slower than expected

By Eric Revell  | Fox Business The U.S. economy grew slightly slower than expected in the third-quarter amid easing inflation and strong consumer spending. The Commerce Department's Bureau of Economic Analysis released its advance estimate for third-quarter gross domestic product (GDP), which found the U.S. economy grew at an annual rate of 2.8% in the third-quarter, which runs from July through September. Economists surveyed by LSEG had expected the economy to grow at a 3% rate in the quarter. The report also finalized second-quarter growth at 3%. Consumer spending, which accounts for about two-thirds of GDP, was up 3.7% in the third-quarter and accelerated from 2.8% in the second-quarter.  READ THE FULL STORY AT FOX BUSINESS
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Existing home sales fall to 14-year low as home affordability crisis squeezes American families
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Breitbart, National

Existing home sales fall to 14-year low as home affordability crisis squeezes American families

By John Carney | Breitbart Home sales fell to the lowest level in 14 years, as high home prices, inflation-depleted savings, still-elevated mortgage rates, and election uncertainty kept buyers on the sidelines Sales of existing homes—which make up most real estate transactions in the U.S.—fell by one percent to an annual rate of 3.84 million in September, the National Association of Realtors said Wednesday. Economists had forecast a stronger 3.9 million sales figure for the month. Sales fell by about 2.5 percent in the prior month. READ THE FULL STORY AT BREITBART
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Denny’s to close 150 restaurant locations
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Fox Business, National

Denny’s to close 150 restaurant locations

 By Aislinn Murphy   | Fox Business Denny’s Corporation will close 150 of its Denny's restaurants. The company, which owns the Denny’s and Keke’s Breakfast Cafe chains, said those Denny’s locations will close by the end of 2025. Dozens of those 150 restaurants will close this year, according to an investor day presentation published Tuesday by the company. Other domestic Denny’s locations will undergo "rehabilitation" through various strategies, including their potential acquisition by "stronger operators," according to the investor day presentation. READ THE FULL STORY AT FOX BUSINESS
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Boeing strike costliest in economic damage so far in 2024
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Fox Business, National

Boeing strike costliest in economic damage so far in 2024

By Breck Dumas | Fox Business The ongoing strike by Boeing's union machinists could end this week, but not before racking up more economic damage than any other work stoppage in the U.S. so far this year, according to estimates. Boeing and the union, the International Association of Machinists and Aerospace Workers Local 751, reached a tentative agreement Saturday. The striking workers will vote Wednesday on whether to take the latest offer, which includes a 35% pay hike over four years, a new incentive plan and a $7,000 ratification bonus. But even if the workers agree to accept the deal – which is not guaranteed – the impact could extend far beyond its current price tag, according to Anderson Economic Group (AEG) principal and CEO Patrick Anderson. "If they ratify the contrac...
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