{"id":52852,"date":"2025-09-08T15:38:41","date_gmt":"2025-09-08T19:38:41","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/consumer-credit-surges-ibm-advances-quantum-computing-and-norways-labour-party-projected-to-win-re-election-amidst-political-and-legal-news\/52852\/"},"modified":"2025-09-08T15:38:41","modified_gmt":"2025-09-08T19:38:41","slug":"consumer-credit-surges-ibm-advances-quantum-computing-and-norways-labour-party-projected-to-win-re-election-amidst-political-and-legal-news","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/consumer-credit-surges-ibm-advances-quantum-computing-and-norways-labour-party-projected-to-win-re-election-amidst-political-and-legal-news\/52852\/","title":{"rendered":"Consumer Credit Surges, IBM Advances Quantum Computing, and Norway&#8217;s Labour Party Projected to Win Re-Election Amidst Political and Legal News"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. consumer credit significantly exceeded expectations in July, rising by $16.01 billion<\/strong>, driven by a notable surge in revolving credit.<\/li>\n<li><strong>IBM (<a href=\"\/stock\/IBM\">IBM<\/a>) continues to advance its quantum computing capabilities<\/strong>, with its CFO confirming over 75 quantum computers in scaled production and a roadmap towards fault-tolerant systems.<\/li>\n<li><strong>Norway&#39;s Labour Party government is projected to win re-election<\/strong>, with early counts showing the party at <strong>28%<\/strong>, the Progress Party at <strong>24.7%<\/strong>, and the Conservative Party at <strong>14.4%<\/strong>.<\/li>\n<li>Former President <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> has filed a defamation lawsuit against the <em>Wall Street Journal<\/em><\/strong>, denying authorship of a letter included in Jeffrey Epstein&#39;s 2003 birthday book.<\/li>\n<\/ul>\n<p>The U.S. economy saw a substantial increase in consumer credit during July, with total credit rising by <strong>$16.01 billion<\/strong>. This figure significantly surpassed both the estimated <strong>$10.20 billion<\/strong> and the previous month&#39;s revised <strong>$9.61 billion<\/strong> (initially reported as <strong>$7.37 billion<\/strong>). The Federal Reserve reported that consumer credit increased at a seasonally adjusted annual rate of <strong>3.8%<\/strong> in July.<\/p>\n<p>A deeper look into the consumer credit data reveals that <em>revolving credit<\/em>, which primarily includes credit card debt, surged by an annual rate of <strong>9.7%<\/strong>. <em>Nonrevolving credit<\/em>, encompassing auto and student loans, also saw an increase, albeit more modestly, at an annual rate of <strong>1.8%<\/strong>. Total outstanding U.S. consumer debt reached <strong>$17.94 trillion<\/strong> as of July 2025, a <strong>2.5%<\/strong> increase from July 2024, with mortgage debt accounting for <strong>74.0%<\/strong> of the total.<\/p>\n<p>In the technology sector, <strong>IBM (<a href=\"\/stock\/IBM\">IBM<\/a>)<\/strong> is making significant strides in quantum computing. The company&#39;s CFO stated that <strong>IBM<\/strong> now has over <strong>75 quantum computers<\/strong> in scaled production. This development aligns with <strong>IBM&#39;s<\/strong> ambitious roadmap to build the world&#39;s first large-scale, fault-tolerant quantum computer, <em>IBM Quantum Starling<\/em>, by 2029, which is expected to perform 20,000 times more operations than current quantum computers. <strong>IBM<\/strong> also aims to achieve a quantum computer with over <strong>4,000 qubits by 2025<\/strong> through modular design and quantum-centric supercomputing.<\/p>\n<p>On the international political front, Norway&#39;s minority Labour Party government is projected to secure a re-election victory in the parliamentary elections held on Monday, September 8, 2025. Early counts reported by Daily VG show the Labour Party leading with <strong>28%<\/strong> of the vote. The populist Progress Party is trailing with <strong>24.7%<\/strong>, while the center-right Conservative Party holds <strong>14.4%<\/strong>. The election outcome is expected to influence Norway&#39;s substantial oil and gas industry, its power supplies to Europe, and the management of its <strong>$2 trillion<\/strong> sovereign wealth fund.<\/p>\n<p>Meanwhile, former President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> has initiated legal action against the <em>Wall Street Journal<\/em> and its publisher, <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> &amp; Company, filing a defamation lawsuit seeking at least <strong>$10 billion<\/strong> in damages. The lawsuit stems from a <em>Wall Street Journal<\/em> report alleging that a &quot;bawdy&quot; letter bearing Trump&#39;s signature was included in Jeffrey Epstein&#39;s 2003 birthday book, which has since been submitted to Congress. Trump has vehemently denied writing the letter, calling it a &quot;FAKE&quot; and a forgery. A spokesperson for Dow Jones has stated confidence in the accuracy of their reporting and vowed to vigorously defend against the lawsuit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. consumer credit significantly exceeded expectations in July, rising by $16.01 billion, driven by a notable surge in 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