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Tag Archives: money

US indexes drift in early trade; department stores nosedive

Department stores dominated the news Thursday morning as Macy’s and Kohl’s both plunged following weak holiday-season reports that led the chains to cut their profit forecasts. Macy’s also said it will eliminate 10,000 jobs as it continues to close stores. Sears jumped after it said it will close 150 stores and sell its Craftsman tool brand. Overall, stocks were only ...

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Legislators may revise change in Mississippi budget process

Mississippi lawmakers could spend part of their 2017 session revising a change they made to the state budget in 2016. The Budget Transparency and Simplification Act was intended to streamline spending by wiping out the practice of some state government agencies paying others for things such as rent and technology services. It was also supposed to move all “special funds,” ...

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Analysis: Public pension fund faces test after 2 weak years

Lawmakers, county supervisors, mayors, school superintendents and college presidents should hope that the run-up in the stock market that began after Donald Trump’s election continues. Because if it doesn’t, Mississippi’s Public Employees Retirement System may be asking agencies to contribute more to make up the public pension fund’s deficit. That’s because, after two poor years of market returns, the $25 ...

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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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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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MDA faces possible double-digit cut in budget

  By JACK WEATHERLY The budget for the Mississippi Development Authority could be cut by 11.4 percent for fiscal 2018 compared with the previous year. That’s the recommendation from the Legislative Joint Budget Committee for the state’s leading economic development agency. The committee, composed of members of both houses of the Legislature, recommends a 2.3 percent reduction in the fiscal ...

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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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Mississippi lawmakers propose spending cuts for coming year

Top lawmakers are proposing a Mississippi budget that would be 3 percent smaller for the coming year. The Joint Legislative Budget Committee met Thursday, and members adopted a recommendation for the state to spend almost $6.2 billion during fiscal 2018, which begins July 1. That is a reduction of $195.3 million from the current year. “I would advise agencies to ...

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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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