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Banking & Finance

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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Oil and banks take Dow to new highs, but tech stocks dive

More big gains for blue-chip banking and oil stocks pulled the Dow Jones industrial average to another record high Thursday even as broader market indexes continued to slip. Technology companies are plunging and on are track for their biggest loss in two months. High-dividend stocks are also trading lower as bond yields rise. KEEPING SCORE: The Dow gained 38 points, ...

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Dow reaches records again as energy companies surge

The Dow Jones industrial average is trading at a record high Wednesday as blue-chip energy companies and banks surge. Oil stocks climbed after countries in OPEC, which collectively produce more than one-third of the world’s oil, agreed to trim production for the first time in eight years. Banks are also rising sharply as bond yields and interest rates increase. Other ...

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Oil drops amid caution over OPEC meeting; stocks mixed

The price of oil dropped and stock markets were mixed Tuesday as it became uncertain whether OPEC countries might reach an agreement to cut crude production at their meeting this week. KEEPING SCORE: Among stocks, London’s FTSE 100 index shed 0.4 percent to 6,770 while France’s CAC 40 advanced 0.8 percent to 4,544 and Germany’s DAX added 0.2 percent to ...

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Stocks fall after record run as consumer companies slip

U.S. stocks are opening lower Monday after they set records throughout last week. Consumer companies and banks are taking some of the largest losses. Energy companies are climbing as the price of oil jumps. KEEPING SCORE: The Dow Jones industrial average sank 55 points, or 0.3 percent, to 19,097 as of 9:42 a.m. Eastern time. The Standard & Poor’s 500 ...

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Post-election uncertainty, market activity result in mortgage spike for potential homebuyers

By LYNN LOFTON  The election has turned the mortgage industry upside down with very quick movement to higher interest rates – an increase of at least .5 percent in just a week’s period of time, said Joe W. McNeese III, president of the mortgage division, Community Bank, Brandon. McNeese said mortgage rates tend to follow what the bond market is ...

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BancorpSouth CFO Prater retiring in March

William L. “Bill” Prater is retiring early from his post as senior executive vice president, treasurer and chief financial officer at BancorpSouth Inc. The parent company of BancorpSouth Bank said Prater’s decision is effective March 10. The Northeast Mississippi Daily Journal reports Prater has held the posts for nearly eight years and will stay on board in a consulting role ...

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BILL CRAWFORD: More taxes for rank and file, less for wealthy and Walmart

Speaker of the House Philip Gunn and Lt. Gov. Tate Reeves have decided to shift Mississippi’s tax burden – less on income and businesses, more on users.   “Because I think everybody ought to have skin in the game,” explained Gunn.   Hmmm.    It appears as though the Speaker has bought into the notion that many poor Mississippians don’t ...

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