US Treasury Archives

Trump says he has directed US Treasury to stop minting new pennies, citing rising cost

WASHINGTON (AP) — President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin. Trump wrote in a post Sunday night on his Truth Social site: “For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” He added: “I have instructed my Secretary of the US Treasury to stop producing new pennies.” The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation.… Continue Reading

Stock market today: Dow hits another record as stocks rise

NEW YORK (AP) — U.S. stocks rose, with those benefiting the most from lower interest rates and a stronger economy leading the way. The S&P 500 climbed 0.3% Monday to pull closer to its record set two weeks ago. The Dow Jones Industrial Average added 440 points to its own record set on Friday, while the Nasdaq composite rose 0.3%. They got a boost from easing Treasury yields after President-elect Donald Trump said he wants hedge-fund manager Scott Bessent to be his Treasury Secretary. Smaller companies can feel a big boost from easier borrowing costs, and the Russell 2000 index of small stocks finished just shy of its record.… Continue Reading

Stock market today: Wall Street slides after Treasury yields climb back above 4% and oil rises

NEW YORK (AP) — U.S. stocks slid after Treasury yields hit their highest levels since the summer and oil prices continued to climb. The S&P 500 fell 1% Monday, though it’s still close to its all-time high set a week ago. The Dow Jones Industrial Average dropped 0.9% from its record set on Friday. The Nasdaq composite lost 1.2%. Stocks felt pressure from jumping Treasury yields, as traders ratchet back forecasts for how deeply the Federal Reserve will cut its main interest rates following Friday’s blowout jobs report. Crude oil prices added to their big gains from the prior week.… Continue Reading