For: August 14, 2025
>>Stocks Close Higher
(New York, NY) -- Wall Street is closing with stocks higher. Both the tech-heavy Nasdaq and S&P 500 closed at record highs once again. At the closing bell, the Dow Jones Industrial Average gained 463 points to 44-922. The S&P 500 rose by 20 points to 64-66. The Nasdaq gained 31 points to 21-713.
>>PPI, Weekly Jobless Claims Due Today
(Undated) -- The producer price index will give investors another look at inflation and the country's economic picture when it's released this morning. We'll also get word on weekly jobless claims. Most analysts expect to see a slight increase from 226-thousand to around 229-thousand last week.
>>Bessent Calls For Steep Interest Rate Cuts
(Washington, DC) -- Treasury Secretary Scott Bessent is calling for steep cuts to interest rates. Speaking with Bloomberg News, Bessent pushed for a half-point reduction and a series of cuts that would substantially lower rates. The treasury secretary's latest comments are in line with the Trump administration's pressure campaign on the Federal Reserve to lower rates. President Trump has been calling for interest rate cuts since the beginning of the year while the Fed has been waiting to see the effects of tariffs on the economy.
>>GE To Grow Manufacturing Base In U.S.
(Louisville, KY) -- GE Appliances is shifting production of refrigerators, gas ranges and water heaters out of China and Mexico and back to the U.S. The company's President and CEO says GE Appliances will expand operations in Kentucky, Georgia, Alabama, Tennessee and South Carolina. The three-billion-dollar investment is expected to add more than a thousand jobs. The move comes as President Trump raises tariffs in part to try and lure manufacturing back to the U.S.
>>Report: Apple Developing Tabletop Robot
(Cupertino, CA) -- Apple might be developing a tabletop robot that looks like an iPad with a movable limb. That's according to a report from Bloomberg, which says the device can turn toward people and move its limb accordingly. The company is reportedly looking at a 2027 release.
>>NY Sues Zelle For Enabling Consumer Fraud
(New York, NY) -- The state of New York is suing Zelle. Attorney General Letitia James filed a complaint Wednesday, and said security lapses on the banking platform have allowed scam artists to steal over a billion dollars from consumers. Zelle's parent company is owned by seven major U.S. banks, including Bank of America, Chase and Wells Fargo. James claims the banks knew for years the platform was vulnerable to scam artists but resisted basic safeguards. Zelle claims the fraud starts when criminals trick people into sending money, and that holding the platform liable could lead to higher fees for consumers.
