Kudlow: Tech Stocks Still 'Ain't Bad', Even With Correction
*By Carlo Versano*
The White House dispatched chief economic adviser Larry Kudlow to speak to reporters Thursday morning as markets turned deep red in a day marked by volatility and which added to the sell-off in tech stocks.
Kudlow told Cheddar's J.D. Durkin the administration remains bullish on the economy ー and he noted that the tech sector, in particular, was up 50 percent since President Trump's election, "even with this correction."
"That ain't bad," he said.
Kudlow wouldn't disclose whether he advises Trump to speak less critically of the actions of the Federal Reserve ー for which presidents typically reserve a church-and-state type attitude. Trump, for his part, called the Fed "loco" on Wednesday for raising interest rates.
Kudlow told Cheddar: "The advice I give to the president is the advice I give to the president. It's entirely private."
More than 90% of the people killed by a 6.3-magnitude earthquake in western Afghanistan last weekend were women and children, U.N. officials reported Thursday.
Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year's historic boost and reflecting moderating consumer prices.
Palestinians in Gaza lined up outside bakeries on Thursday after spending the night in pitch darkness surrounded by the ruins of pulverized neighborhoods, as Israel launched new airstrikes and said it was preparing for a possible ground invasion.
Republicans on Wednesday nominated Rep. Steve Scalise to be the next House speaker and will now try to unite around the conservative in a floor vote to elect him after ousting Rep. Kevin McCarthy from the post.
The number of U.S. citizens confirmed to have been killed in the Israel-Hamas war has risen to at least 22 with at least 17 more Americans unaccounted for, the State Department said Wednesday. That's an increase in the death toll from 14 the day before, in a war that has already claimed more than 2,200 lives on both sides.
