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    Updated from 6:58 a.m. EST. Here are 10 things you should know for Wednesday, March 4: 1. -- U.S. stock futures were in the red as investors anticipate data on employment and U.S. petroleum reserves. European stocks didn't move much Wednesday as new eurozone economic growth data and retail sales numbers arrived before Thursday’s European Central Bank monetary policy meeting in Cyprus.

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    China is making friends right under America's nose. Latin America is China's latest business buddy. This comes as U.S. power in the Americas is starting to erode. China doesn't appear as worried about the short-term. "What we're looking at is not simply an economic play.

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    The Reserve Bank of India announced a surprise interest-rate cut Wednesday, trimming its policy repurchase rate by a quarter point to 7.5%. Raghuram Rajan cited relatively benign inflation in making the move, saying in a statement that "softer readings on inflation are expected to come in through the first half of 2015-16 before firming up to below 6% in the second half." The cut followed a similar quarter-point reduction in January, also made outside the central bank's scheduled...

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    WASHINGTON-- The results aren't complete, but so far, no current White House agency is saying that their chiefs use personal email accounts for government business. Eight members of President Barack Obama's cabinet said, through press officials, they have government email accounts. The remaining seven cabinet officials did not respond to a query from MarketWatch.

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    Republicans have tried to kill Obamacare more than 50 times. Justices will hear arguments Wednesday on whether most Obamacare enrollees can keep their subsidies. A ruling against the Obama administration could send Obamacare into a death spiral. It's likely that millions of enrollees would drop coverage after losing their assistance, experts said.

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    The Senate Banking Committee on Tuesday launched its effort to pursue reforms at the Federal Reserve, with the central bank's regional structure among the topics that came into the panel's cross-hairs. Senator Richard Shelby, the committee chairman, said at Tuesday's Fed reform hearing that the panel will explore reforming the Fed system.

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    U.S. automakers have written to Federal Reserve Chair Janet Yellen to say the U.S. central bank need not worry about the impact of adding currency rules to trade deals. Yellen warned Congress last week against a bid to crack down on currency cheats and said adding currency rules to trade deals could hobble monetary policy.

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    WASHINGTON-- The Treasury Department will exhaust its capacity to borrow in October or November if the debt limit isn't raised, the Congressional Budget Office estimated Tuesday. The non-partisan CBO had previously estimated that "extraordinary measures" Treasury could use to continue borrowing would last until September or October. The debt limit is suspended until March 15. After that date, so-called extraordinary measures available to the Treasury to keep borrowing...

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    The Federal Reserve will most likely hike short-term interest rates in September, said Moody's Analytics chief economist Mark Zandi. "At that point in time it will be clear that the economy, given all the job growth, will be closing in on full-employment quickly and that wage growth will be accelerating," he said. Must Read: Warren Buffett's Top 10 Dividend Stocks.

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    The Congressional Budget Office said on Tuesday that if the U.S. federal debt limit is not raised, the U.S. Treasury Department will exhaust all of its borrowing capacity and run out of cash by October or November, slightly later than a previous forecast. Normal U.S. borrowing authority under the debt limit currently expires on March 15.

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    Washington• The IRS has cut nearly 12,000 positions as its budget has fallen by an inflation-adjusted 17 percent since 2010.• The agency also says that illegal immigrants are eligible for tax credits.• The Pentagon’ s new $55 billion bomber project has ignited a fiery conversation about defense spending.The Economy• A closely watched economic indicator hits...

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    The $750,000-- to-- $1 million price range is the hottest part of the housing market, according to data released Monday. But what $1 million buys you in, say, San Francisco, is a lot different from what it can purchase in Peoria, Ill. Preowned houses in that price range-- which in many areas encompasses the "McMansion" market segment-- seem to be selling quickly.

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    U.S. President Barack Obama's advisers would recommend he veto a Senate resolution to overturn recent National Labor Relations Board reforms if the measure were to reach the White House, his administration said in a statement. The resolution seeks to overturn a recent labor board rule over "representation case procedures," according to the statement.

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    The Federal Reserve on Tuesday awarded $110.87 billion of overnight fixed-rate reverse repurchase agreements to 45 bidders at an interest rate of 0.05 percent, the Federal Reserve Bank of New York said on its website.

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    U.S. home prices jumped 1.1% in January to take the year-over-year gain to 5.7%, CoreLogic reported Tuesday. CoreLogic said 27 states and the District of Columbia are at or within 10% of their peak. "A dearth of supply in many parts of the country is a big factor driving up prices.

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    WASHINGTON-- The hardest-hit states won't get back to their housing-boom-era peak prices this decade. That's according to a MarketWatch analysis of the latest home-price data from CoreLogic. For this analysis, MarketWatch looked at the year-over-year growth rates both nationally and at state levels for the states where prices skidded at least 20% from their peaks.

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    WASHINGTON-- AT&T Chief Executive Randall Stephenson says an improved economy is boosting U.S. wages, but he also insists inaction in Washington is holding back the nation's growth. Stephenson, who doubles as chairman of the Business Roundtable, urged lawmakers on Tuesday to pass bills to encourage free trade, reduce corporate taxes, relax certain immigration laws and avert unnecessary rules such as a decision to regulate the Internet under a government law first created in the...

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    Pennsylvania Governor Tom Wolf proposed a $29.9 billion budget on Tuesday that includes $2.5 billion of net tax increases for fiscal 2016. Wolf's sweeping revamp of the state's tax system would raise sales and personal income taxes while lowering property and corporate taxes, he said during his address to lawmakers.