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BILL CRAWFORD: Strangulation budget hits state employees, poor

Merry Christmas state employees. The budget proposed by Lt. Gov. Tate Reeves, House Speaker Philip Gunn, and their budget committee colleagues targets you. If you get to keep your job, they want you to work harder and do more for no more pay. The budget is bad for your retirement (PERS) too. Oh, but you will get a tiny tax ...

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Tech stocks dip, dividend payers rise as indexes tread water

Technology stocks fell Friday, but gains for utilities and other big dividend payers helped U.S. indexes hold close to record levels. Bond yields gave up some of their big gains from the last few days. KEEPING SCORE: The Standard & Poor’s 500 index fell 2 points, or 0.1 percent, to 2,260 as of 11:40 a.m. Eastern time. The Dow Jones ...

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November bad month for state revenue collections

By BOBBY HARRISON JACKSON – The 2017 Mississippi legislative session will not be starting on a rosy note in January in terms of state revenue collections. November was a particularly dismal month for revenue collections. The report recently compiled by the staff of the Legislative Budget Committee reveals that in November revenue collections were $35.2 million or 8.8 percent below the ...

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Banks lead US stock indexes higher, and dollar jumps again

A surge in banks and other financial stocks that stand to benefit from higher interest rates led U.S. indexes higher Thursday. The dollar climbed to its strongest level in more than a decade against other currencies, and the price of gold sank on expectations that the Federal Reserve will follow up Wednesday’s rate increase with several more next year. KEEPING ...

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The latest: stocks tumble lower after Fed rate hike

After initially wobbling between gains and losses following the Fed’s announcement, stocks turned moderately lower in afternoon trading following the rate increase decision. Bond prices fell after the announcement Wednesday, sending bond yields higher. High-dividend utilities and real estate companies, which would stand to lose more than other companies from rising interest rates, fell more than the rest of the ...

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Dow nears 20,000 as familiar tech and retail names climb

Major U.S. stock indexes are reaching record highs Tuesday as big-name technology companies like Apple trade higher and energy companies extend a recent winning streak. The Dow Jones industrial average traded above 19,900 for the first time. The Federal Reserve began its last policy meeting of the year, and it’s widely expected to announce an increase in interest rates on ...

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Markets Right Now: Dow at record; most other stocks lower

The latest on developments in financial markets (All times local): 9:35 a.m. Stocks are opening mostly lower on Wall Street, except for energy companies, which rose along with the price of oil. Big jumps in Exxon Mobil and Chevron early Monday nudged the Dow Jones industrial average higher, but other major market indexes were lower. The price of crude oil ...

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Phone and bank stocks push indexes higher; Dow at record

Stocks posted slight gains on Tuesday, sending the Dow Jones industrial average to another record, helped by shares of telecommunications companies such as Verizon, Sprint and AT&T. Small companies and bank stocks also rose as investors continue to speculate that U.S. economic growth will pick up under the incoming Trump administration. The Dow Jones industrial average rose 35.54 points, or ...

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Dow hits another record as bank stocks continue to climb

U.S. stocks are rising Monday morning, led by gains in bank stocks, sending the Dow Jones industrial average to another record high. Other major indexes are also up but still below their own all-time highs. European stocks were mostly higher, but Italy’s market fell after Italian voters rejected constitutional changes, dealing a major setback to Premier Matteo Renzi. KEEPING SCORE: ...

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BILL CRAWFORD — PERS’ deficit “mortgage” ballooning, not shrinking

You know how a mortgage works right? You make your monthly payments and gradually your mortgage balance comes down.   Pat Robertson, Executive Director of the Mississippi Public Employees’ Retirement System (PERS), tells legislators and retirees to think of PERS’ massive $16.8 billion funding shortfall as a mortgage: “Having an unfunded liability (deficit) is analogous to having a mortgage and ...

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