The Street
  • 8 months ago
TheStreet’s Caroline Woods brings you the biggest news of the day, including what investors are watching and the Biden Administration’s continued effort to curb student loan debt.

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Transcript
00:00 I'm Caroline Woods reporting from the New York Stock Exchange.
00:03 Here's what we're watching on the street today.
00:06 Stocks are looking to round out a mixed week after seeing both red and green throughout
00:10 the week.
00:11 Investors are reacting to a trio of big bank earnings.
00:15 JP Morgan, Citi and Wells Fargo all reported before the opening bell and all three beat
00:20 Wall Street's estimates.
00:22 The earnings parade will continue next week with big names like Netflix, American Express
00:27 and Bank of America set to report.
00:30 In other news, the Biden administration has announced another round of student loan forgiveness.
00:35 The White House plans to forgive $7.4 billion in student loan debt for 277,000 borrowers.
00:43 206,000 will have a collective $3.6 billion in debt wiped out through the administration's
00:48 saving on a valuable education plan.
00:51 65,000 will see their debt erased through the Department of Education's income-driven
00:55 repayment plans and 4,600 will have their debt taken care of through a program for public
01:00 servants.
01:01 Of the latest round of debt forgiveness, U.S. Secretary of Education Miguel Cardona said,
01:06 quote, "As long as there are people with overwhelming student debt competing with basic needs such
01:11 as food and health care, we will remain relentless in our pursuit to bring relief to millions
01:16 across the country."
01:18 The Biden administration has forgiven $153 billion in debt for more than 4 million Americans
01:24 since the president took office.
01:27 That'll do it for your daily briefing from the New York Stock Exchange.
01:30 I'm Caroline Woods with The Street.
01:32 Thanks.
01:32 Thanks.
01:33 [BLANK_AUDIO]

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