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Stocks surge thanks to big rally for JPMorgan Chase and other banks
New York (CNN Business)Investors took a break from selling in May and going away, for one day at least. Stocks soared Monday, as positive news about earnings from banking powerhouse JPMorgan Chase and comments from President Joe Biden about the possibility of lifting some US tariffs on China boosted
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Social media stocks plunge on Snapchat warning
New York (CNN Business)Wall Street was not in a particularly social mood Tuesday. Social media stocks plummeted following an ominous earnings warning from Snapchat's parent company. Shares of Snap (SNAP) plunged more than 40% Tuesday and hit their lowest level since March 2020, just after the Covid-
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Fed hikes interest rates by three-quarters of a percentage point in boldest move since 1994
Washington, DC (CNN)The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday in an aggressive move to tackle white-hot inflation that is plaguing the economy, frustrating consumers and stifling the Biden administration. It's the largest rate hike since 1994, and
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Report: Volkswagen could sell more electric cars than Tesla by 2024
(CNN)Volkswagen has been saying for years that it intends to, one day, sell more electric cars than Tesla. That could finally happen in 2024, according to a new report from Bloomberg Intelligence. Over the next few years, these two automakers will battle to be the leader in global electric vehicle s
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