For Monday, April 14th, 2024
>>Stocks Close Higher To End Volatile Week
(New York, NY) -- Stocks closed sharply higher Friday to end a historic week on Wall Street. The major averages climbed as the White House signaled it's open to a trade deal with China. Stocks began the day in the red after China raised tariffs to 125 percent on U.S. imports but noted it would not take any further action. Meanwhile, the European Union said it's sending its trade representative to Washington, DC on Sunday to "try and sign deals." At the closing bell, the Dow Jones Industrial Average gained 619 points to 40-212. The S&P 500 rose 95 points to 53-63. The Nasdaq climbed 337 points to 16-724.
>>Consumer Sentiment Drops 11% In April
(Ann Arbor, MI) -- Consumer sentiment fell more than expected In April as inflation fears surge. The University of Michigan's mid-month reading dropped eleven percent from March with declines across all age and income groups. The survey noted consumers report "multiple warning signs that raise the risk of recession." The results point to growing concerns that President Trump's tariffs will raise inflation and slow growth. Unemployment fears also hit their highest level since 2009.
>>Cell Phones, Other Tech Devices Exempt From Tariffs
(Washington, DC) -- There's good news for American tech companies regarding President Trump's tariffs against China. U.S. Customs and Border Protection says certain tech devices will be exempt from tariffs. The CBP issued official guidance Friday night that exempts electronic items such as computers, smartphones, flat panel TV displays, flash drives, and memory cards. This could especially benefit tech giant Apple, which has a large percentage of iPads and Mac computers made in China. Trump imposed 145-percent tariffs on China. Commerce Secretary Howard Lutnick says the exemption is not permanent.
>>Trump Says He'll Announce Semiconductor Tariffs This Week
(Washington, DC) -- President Trump says he'll be announcing tariff rates on imported semiconductors this week. Trump made the announcement Sunday on board Air Force One, adding there will be a certain amount of flexibility for some companies. Commerce Secretary Howard Lutnick also said Sunday that semiconductors wouldn't be included in certain tariff exemptions announced Friday for electronics like phones and computers.
>>Cost Of Raising Children Increasing
(Undated) -- The cost of raising children in the U.S. is on the rise. A new study estimates it costs nearly 300-thousand dollars to raise a child from birth to the age of 18 in 2025, a 25-percent jump from 2023's projections. The Department of Health considers child care affordable if it takes less than seven-percent of a family's income, but there are currently no states where the average cost of child care is within that threshold for median-income families.
>>IRS 2025 Tax Deadline Fast Approaching
(Washington, DC) -- The tax filing deadline is fast approaching. For most Americans it's Tuesday, April 15th. However, the IRS says citizens impacted by natural disasters in 12 states have automatic tax extensions to file and pay their 2024 taxes. Some extensions only apply to certain areas within those states. To find out whether or not you qualify for an extension the IRS website has a page listing the delayed deadlines.
