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U.S. stocks rise to the brink of a record and recover nearly all their 20% springtime drop

NEW YORK (AP) — The U.S. stock market ran up to the edge of another record on Thursday. The S&P 500 climbed 0.8% and is sitting just 0.05% below its all-time closing high, which was set in February. It briefly topped the mark during the afternoon in the latest milestone for the index at the heart of many 401(k) accounts, which had dropped roughly 20% below its record during the spring on worries about President Donald Trump’s tariffs. The Dow Jones Industrial Average rallied 404 points, or 0.9%, and the Nasdaq composite gained 1%. McCormick, the seller of cooking spices, helped ...

Key Medicaid provision in Trump’s bill is found to violate Senate rules and the GOP is scrambling

WASHINGTON (AP) — The Senate parliamentarian has advised that a Medicaid provider tax overhaul central to President Donald Trump’s tax cut and spending bill does not adhere to the chamber’s procedural rules, delivering a crucial blow as Republicans rush to finish the package this week. Guidance from the parliamentarian is rarely ignored and Republican leaders are now forced to consider difficult options. Republicans were counting on big cuts to Medicaid and other programs to offset trillions of dollars in Trump tax breaks, their top priority. Additionally, the Senate’s chief ...

U.S. stocks hang near their record as Wall Street takes a breath following two big days

NEW YORK (AP) — U.S. stocks hung near their all-time high on Wednesday as financial markets caught a breath following two big days bolstered by hopes that the Israel-Iran war will not disrupt the global flow of crude oil. The S&P 500 barely budged after drifting through a quiet day of trading and is sitting just 0.8% below its all-time high, which was set in February. The Dow Jones Industrial Average dipped 106 points, or 0.2%, and the Nasdaq composite rose 0.3%. In the oil market, which has been the center of much of this week’s action, crude prices stabilized after plunging by ...

U.S. stocks approach their all-time high as oil prices tumble

NEW YORK (AP) — U.S. stocks rose toward their all-time high on Tuesday after oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude. The S&P 500 climbed 1.1%, following up on big gains for stocks across Europe and Asia, after President Donald Trump said late Monday that Israel and Iran had agreed to a “complete and total ceasefire.” The main measure of Wall Street’s health is back within 0.8% of its record set in February after falling roughly 20% below during the spring. The Dow Jones Industrial Average jumped 507 points, or ...

Stocks rally and oil tumbles as Wall Street hopes for a limited retaliation after U.S. strikes on Iran

NEW YORK (AP) — U.S. stocks rallied, and the price of oil tumbled Monday on hopes that Iran will not disrupt the global flow of crude, something that would hurt economies worldwide but also its own, following the United States’ bunker-busting entry into its war with Israel. The S&P 500 climbed 1%, coming off a week where stock prices had jumped up and down on worries about the conflict potentially escalating. The Dow Jones Industrial Average added 374 points, or 0.9%, and the Nasdaq composite gained 0.9%. The price of oil initially jumped 6% after trading began Sunday night, a ...