The Street
The Street
  • 5 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why student loan borrowers got some good news.

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Sports
Transcript
00:00I'm Conway Giddens reporting from the New York Stock Exchange. Here's what we're watching on the street today
00:05Wobbly is the best way to describe how Wall Street kicked off the second half of the trading year
00:09Mixed signs from the factory floor gave investors reasons to be both worried and hopeful
00:15Manufacturing activities shrank for the third straight month according to the Institute for Supply Management
00:21however
00:22Prices paid a measure of inflation hit a six month low in June and new orders rebounded from a two-year low
00:30in other news
00:31some student loan borrowers may be able to breathe a sigh of relief at least for now a
00:37Federal Appeals Court has given the go-ahead to a White House debt relief plan
00:42Overturning a lower courts injunction the 10th Circuit of Appeals ruling allows part of the Biden White House's
00:50saving on a valuable education or save plan to kick in on schedule even though legal challenges still remain as
00:58Part of this plan monthly payments are capped at 5% of a borrower's discretionary income
01:04Meanwhile those with an income below thirty two thousand eight hundred dollars will see payments drop to zero
01:10However, another part of the plan aimed at total debt forgiveness remains halted by the courts
01:17Roughly 8 million Americans have signed up for save and by April
01:214.8 billion dollars in debt relief had been given to
01:24360,000 Americans and since President Biden took office
01:30167 billion dollars in student loans have been forgiven for 4.75 million people
01:37That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittens with the street

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