Larry E. Swedroe's Blog, page 853

U.S. consumer spending still strong despite slowing GDP, expert says

The stock market closed in positive territory Thursday despite the latest GDP report from the the Commerce Department showing that the economy grew at an annual rate of only 1.1% in the first quarter of 2023. Lori Bettinger, president of BancAlliance, spoke with CBS News about what the latest GDP figures mean for investors and consumers going forward.

Wisconsin derailment sends 2 train cars into Mississippi River

The two train cars that went into the river did not contain hazardous materials, a BNSF Railway spokesperson said.

Lamar Jackson signs $260 million deal with Ravens

The contract averages out to about $52 million per season, making Jackson the highest paid player in the NFL by average annual salary.

Rep. Jamie Raskin says he is now in remission from lymphoma

He underwent outpatient chemotherapy treatments after his cancer diagnosis in December.

4/27: Red and Blue

Former President Donald Trump holds first campaign event since President Biden launched his 2024 reelection bid; Disney sues Florida Gov. Ron DeSantis.

British antitrust regulators block Microsoft purchase of Activision Blizzard

British antitrust regulators have blocked Microsoft's $69 billion deal to buy video game maker Activision Blizzard. In a statement Wednesday, Britain's Competition and Markets Authority said, "we've prevented Microsoft from purchasing Activision over concerns the deal would damage competition in the cloud gaming market, leading to less innovation and choice for UK gamers." The all-cash deal was set to be the biggest in the history of the tech industry. Michael Pachter, a managing director at Wedbush Securities, has more.

Debt ceiling vote passes in the House

House Republicans have narrowly passed a bill to raise the nation's debt ceiling. But even party leaders acknowledge the bill is nowhere close to becoming law. The House bill increases the debt limit by $1.5 trillion -- while at the same time imposing an array of spending cuts to the federal budget. CBS News congressional correspondent Scott MacFarlane has more.

Biden, South Korean president talk nuclear threats from North Korea

President Biden welcomed South Korea's president to the White House Wednesday. The two leaders announced an agreement to counter North Korea's ongoing nuclear threats. The so-called Washington declaration includes plans to have American nuclear submarines docked in South Korea -- for the first time in more than 40 years. Biden and the first lady later honored Yoon Suk Yeol and his wife at a state dinner in the White House. Ed O'Keefe is there with the latest.

Allergy season getting longer

For those who suffer from seasonal allergies, the season is getting longer. The season is starting 20 days earlier and lasting 10 days longer than it did in the 1990s. Errol Barnett reports.

Biden hosts South Korean president at White House

President Biden and South Korean President Yoon Suk Yeol announced an agreement to keep U.S. nuclear-armed submarines docked in South Korea. Mr. Biden also dismissed questions about his age as he gears up for the 2024 campaign. Ed O'Keefe has more.