A federal appeals court has blocked the Biden administration from moving ahead with its mass student-debt cancellation program, dealing another blow to the administration’s plan after it was ruled unlawful by a federal judge in Texas last week.
The court granted a preliminary injunction against President Biden’s plan to erase hundreds of billions of dollars in student loans at the request of six states that sued to challenge the debt relief.
The ruling was not a decision on the legal merits of the plan.
OPEC left its forecast for global oil supply and demand largely unchanged, as it warned that major unknowns such as Covid-19 cases in China and the impact of Western efforts to frustrate Russian oil exports make the outlook for energy markets highly uncertain.
In its closely followed monthly market report, OPEC modestly revised lower its forecast for global oil demand while making small tweaks to its supply forecasts and holding off from making changes to its global economic growth forecasts.
Futures are up after stocks closed lower yesterday. The Dow Industrials fell 211, the Nasdaq lost a sharp 127 and the S&P 500 ended down 35.
