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Northern Star

Northern Illinois University’s student media since 1899

 

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The Student News Site of Northern Illinois University

Northern Star

The Student News Site of Northern Illinois University

Northern Star

Fed officials downplay virus even as markets see rate cuts

By CHRISTOPHER RUGABER | February 21, 2020

WASHINGTON (AP) — When Wall Street expects the Federal Reserve to cut interest rates, should that influence the Fed's decisions?Two Fed officials diverged on that issue in remarks Friday at a monetary policy conference in New York. The disagreement...

Stocks sink, Treasury prices soar as investors seek safety

By ALEX VEIGA | February 21, 2020

Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies.The yield on the 30-year Treasury reached a record low as investors sought the safety...

Iranians vote in parliament elections favoring conservatives

By NASSER KARIMI | February 21, 2020

TEHRAN, Iran (AP) — Iranians voted for a new parliament Friday, with turnout seen as a key measure of support for Iran's leadership as sanctions weigh on the economy and U.S. pressure isolates the country diplomatically.The disqualification of more...

Watchdog toughens global financial scrutiny of Iran

By ANGELA CHARLTON | February 21, 2020

PARIS (AP) — An international agency monitoring terrorism funding announced tough new financial scrutiny of Iran on Friday and added seven countries to a watch list.Pakistan, meanwhile, won a reprieve from the Financial Action Task Force at its meetings...

World markets slip on renewed fears over virus outbreak

By JOE McDONALD | February 21, 2020

BEIJING (AP) — Global stock markets slipped on Friday after a spike in new virus cases in South Korea and other countries refueled investor anxiety about China's disease outbreak.Benchmarks in Tokyo, Hong Kong and Sydney closed down and London, Frankfurt...

1 trillion euros: EU leaders get into big fight over budget

By RAF CASERT and ANGELA CHARLTON | February 20, 2020

BRUSSELS (AP) — European leaders argued into the early hours of Friday about how to spend and share some 1 trillion euros ($1.1 trillion) over the next seven years. Their first summit since Britain quit the EU last month has been bruising, long —...

How major US stock indexes fared Thursday

By The Associated Press | February 20, 2020

Major stock indexes closed with modest losses Thursday after a wobbly day of trading on Wall Street that snapped a three-day streak of all-time highs for the S&P 500 and Nasdaq.

Investors turned cautious following news of a surge in cases of the new virus in China. The latest figures dashed hopes that the spread of the outbreak was peaking, which had helped lift stocks earlier in the week.

On Thursday:

The S&P 500 index dropped 5.51 points, or 0.2%, to 3,373.94.

The Dow Jones Industrial Average slid 128.11 points, or 0.4%, to 29,423.31.

The Nasdaq fell 13.99 points, or 0.1%, to 9,711.97.

The Russell 2000 index of smaller company stocks rose 4.36 points, or 0.3%, to 1,693.74.

For the week:

The S&P 500 is up 46.23 points, or 1.4%.

The Dow is up 320.80 points, or 1.1%.

The Nasdaq is up 191.46 points, or 2%.

The Russell 2000 is up 36.96 points, or 2.2%.

For the year:

The S&P 500 is up 143.16 points, or 4.4%.

The Dow is up 884.87 points, or 3.1%.

The Nasdaq is up 739.36 points, or 8.2%.

The Russell 2000 is up 25.27 points, or 1.5%.

W.Va. gov says economy is rosy, but doubters not buying that

By ANTHONY IZAGUIRRE | February 20, 2020

ELKVIEW, W.Va. (AP) — For years, West Virginia Gov. Jim Justice has told people they need only look at the lines at Dairy Queen to see how much the state's economy has improved since he took office.But for Grace Waterman, snacking on vanilla soft serve...

WH report says economy accelerated under Trump

By JOSH BOAK | February 20, 2020

WASHINGTON (AP) — A new White House report says the U.S. economy is growing faster than expected, even though the annual gains of 3% that President Donald Trump promised to voters have yet to be achieved.The annual economic report of the president released...

Global stocks mostly slip as virus weighs on companies

By YURI KAGEYAMA | February 20, 2020

TOKYO (AP) — Global shares mostly dipped Thursday as several companies estimated that the outbreak of the new coronavirus in China will weigh on their earnings.France's CAC 40 edged down 0.2% to 6,099 and Germany's DAX fell 0.2% to 13,765. Britain's...

ASEAN diplomats praise China’s handling of virus outbreak

By JIM GOMEZ | February 20, 2020

VIENTIANE, Laos (AP) — Southeast Asia’s top diplomats praised China's handling of the virus outbreak and pledged Thursday to help fight the disease that emerged in a central Chinese city and spread in the region and around the world.Chinese Foreign...

Asian stocks mixed after Wall Street rises to record

By YURI KAGEYAMA | February 19, 2020

TOKYO (AP) — Shares were mixed Thursday in Asia after Wall Street recovered to record highs, but worries persist about damage to the regional economy from the new virus that began in China.Japan's benchmark Nikkei 225 gained 0.3% to 23,474.78, shedding...