Morning Business Report: Walmart labels face controversy

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Walmart is once again playing fast and loose with the rules when it comes to labeling goods “Made in the USA,” according to an industry watchdog.

It claims on its website that goods that it sells like vacuum cleaners, towels, and plastic storage bins are made in America when they aren’t, according to Truth in Advertising.

Walmart says it’s investing in American jobs initiative, we’ve committed $250 billion over 10 years toward the purchase of products made, sourced, grown, or assembled here in the U.S.


Procter & Gamble raised its full-year sales forecast for a second time as it is still benefiting from a still high demand for its home care and cleaning products.

Households have continued to clean their homes and wash their clothes more frequently and have also shown their willingness to pay for more premium brands over store-branded goods.

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The S&P 500 rallied 1.4 percent to a record close, finishing 14 percent higher on inauguration day than it was on Election Day.

That streak broke a record set by President Hoover in 1928 when the S&P rallied 13.3 percent during the same interval, according to Marketwatch.

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Meanwhile, as one of his first executive orders, President Joe Biden directed the Department of Education to extend student loan relief by extending a pause on interest and principal payments for direct federal loans until at least September 30.

U.S. borrowers currently owe over $1.5 trillion in federal student loans.

Also, the fixed interest rate on student loan refinancing hit a new low in January.

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You can celebrate Groundhog Day with an $80 cameo from Punxsutawney Phil.

The “world-famous groundhog” joined the growing list of animal creators on the cameo, which means you can book your very own video — for a price. It’s a video-sharing platform that allows people to pay for customized videos from actors, musicians, athletes, political commentators, and of course, animals.