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Investors pull away from shares in companies that have led markets higher this year
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Trump media firm plans to sell high speed access to Truth Social posts, possibly Trump's own AP NewsTruth Social will sell Wall Street quicker access to posts CNNTruth Social to sell trading firms 'fastest' access to Trump's posts ReutersTruth Social to launch Wall Street API The Hill
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Hegseth's plan to screen military members for low testosterone raises concern for doctors: "Not a performance drug" CBS NewsHegseth touts a high-testosterone military, as doctors question his claims The Washington PostHegseth Plans to Screen All Troops, Including Women, for Low Testosterone The New York TimesPete Hegseth wants testosterone for his soldiers. Finally, some gender-affirming care | Arwa Mahdawi The Guardian
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Kevin M. Warsh, in his first testimony to Congress as chairman of the Federal Reserve, did not shed light on whether he supported higher interest rates to tame price pressures.
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Mortgage activity in the U.S. has contracted for consecutive weeks. In the week ended April 26, the mortgage activity composite index slid 2.3% following a 2.7% fall the week before. Refinancing fell 3.3% while purchase applications dropped 1.7%. Inflation's stubbornness in the first quarter of 2024 has led investors to conclude that the Federal Reserve's first rate cut might not be coming this year. This has buoyed interest rates such as the 30-year fixed-rate mortgage. In the week ended April 26, the 30-year fixed rate rose 5 basis points to 7.29%, its highest since November.
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