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NEW YORK (AP) — U.S. stocks slipped below their records in the runup to a big jobs report due on Friday. The S&P 500 edged down 0.2% Thursday after setting an all-time high for the 56th time this year the day before. The Dow Jones Industrial Average lost 0.6%, while the Nasdaq composite fell 0.2%. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before falling back toward $99,000. It’s climbed dramatically since Election Day on hopes President-elect Donald Trump will be more friendly to crypto. Airline stocks were strong, while Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are drifting around their records Thursday in the runup to a big jobs report due on Friday. The crypto market had much more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 was edging down by 0.1% after setting an all-time high for the 56th time this year the day before to improve one of its best years of the millennium . The Dow Jones Industrial Average was down 183 points, or 0.4%, with roughly an hour remaining in trading, while the Nasdaq composite was nearly unchanged from its own record set the day before. Bitcoin powered above $100,000 the night before, after President-elect Donald Trump chose a crypto advocate, Paul Atkins, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it quickly fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharps swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride. After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 5.9%. Crypto exchange Coinbase Global fell 3.2% after likewise erasing a big early gain. Elsewhere on Wall Street, stocks of airlines helped lead the way following the latest bumps up to financial forecasts from carriers. American Airlines Group soared 18.6% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast. The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other partners grow by about 10% annually. Southwest Airlines climbed 3.4% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season. On the losing end of Wall Street was Synposys, which tumbled 12.1%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates. American Eagle Outfitters fell even more, 15.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain. Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels. Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury held steady at 4.18%, where it was late Wednesday. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion prompted by budget disputes that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%. In South Korea, the Kospi fell 0.9% to compound its 1.4% decline from the day before. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night. He revoked the martial law declaration six hours later. Crude oil prices slipped after eight members of the OPEC+ alliance of oil exporting countries decided to put off increasing oil production. ___ AP Business Writers Yuri Kageyama and Matt Ott contrributed. Stan Choe, The Associated Press
Fox News loses bid for Smartmatic voting-tech company's records about Philippines bribery caseHezbollah fires about 250 rockets and other projectiles into Israel in heaviest barrage in weeks BEIRUT (AP) — Hezbollah has fired about 250 rockets and other projectiles into Israel, wounding seven people in one of the militant group’s heaviest barrages in months. Sunday's attacks in northern and central Israel came in response to deadly Israeli strikes in central Beirut on Saturday. Israel struck southern Beirut on Sunday. Meanwhile, negotiators press on with cease-fire efforts to halt the all-out war. And Lebanon's military says an Israeli strike on a Lebanese army center in the southwest killed one soldier and wounded 18 others. Israel's military has expressed regret and said its operations are directed solely against the militants. Israel cracks down on Palestinian citizens who speak out against the war in Gaza UMM AL-FAHM, Israel (AP) — In the year since the war in Gaza broke out, Israel's government has been cracking down on dissent among its Palestinian citizens. Authorities have charged Palestinians with “supporting terrorism” because of posts online or for demonstrating against the war. Activists and rights watchdogs say Palestinians have also lost jobs, been suspended from schools and faced police interrogations. Palestinians make up about 20% of Israel's population. Many feel forced to self-censor out of fear of being jailed and further marginalized in society. Others still find ways to dissent, but carefully. Israel's National Security Ministry counters that, “Freedom of speech is not the freedom to incite.” Israel says rabbi who went missing in the UAE was killed. The government arrests 3 TEL AVIV, Israel (AP) — Israel says the body of an Israeli-Moldovan rabbi who went missing in the United Arab Emirates has been found, citing Emirati authorities. The UAE’s Interior Ministry said authorities arrested three perpetrators involved in the killing of Zvi Kogan. The statement from Prime Minister Benjamin Netanyahu’s office on Sunday said Kogan was killed, calling it a “heinous antisemitic terror incident.” It said: “The state of Israel will act with all means to seek justice with the criminals responsible for his death." Kogan went missing on Thursday, and there were suspicions he had been kidnapped. His disappearance comes as Iran has been threatening to retaliate against Israel after the two countries traded fire in October. Somalia says 24 people have died after 2 boats capsized in the Indian Ocean MOGADISHU, Somalia (AP) — Somalia's government says 24 people died after two boats capsized off the Madagascar coast in the Indian Ocean. Somalia’s Foreign Minister Ahmed Moalim Fiqi said 46 people were rescued. Most of the passengers were young Somalis, and their intended destination remains unclear. Many young Somalis embark every year on dangerous journeys in search of better opportunities abroad. A delegation led by the Somali ambassador to Ethiopia is scheduled to travel to Madagascar on Monday to investigate the incident and coordinate efforts to help survivors. The rising price of paying the national debt is a risk for Trump's promises on growth and inflation WASHINGTON (AP) — Donald Trump has big plans for the economy. He also has big debt problem that'll be a hurdle to delivering on those plan. Trump has bold ambitions on tax cuts, tariffs and other programs. But high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do. The federal debt stands at roughly $36 trillion, and the spike in inflation after the pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security. Moscow offers debt forgiveness to new recruits and AP sees wreckage of a new Russian missile KYIV, Ukraine (AP) — Russian President Vladimir Putin has signed a law granting debt forgiveness to new army recruits who enlist to fight in Ukraine. The measure, whose final version appeared on a government website Saturday, underscores Russia’s needs for military personnel in the nearly 3-year-old war, even as it fired last week a new intermediate-range ballistic missile. Russia has ramped up military recruitment by offering increasing financial incentives to those willing to fight in Ukraine. Ukraine’s Security Service on Sunday showed The Associated Press wreckage of the new intermediate-range ballistic missile that struck a factory in the central Ukrainian city of Dnipro on Thursday. Forecasts warn of possible winter storms across US during Thanksgiving week WINDSOR, Calif. (AP) — Forecasters in the U.S. have warned of another round of winter weather that could complicate travel leading up to Thanksgiving. California is bracing for more snow and rain while still grappling with some flooding and small landslides from a previous storm. The National Weather Service has issued a winter storm warning for California's Sierra Nevada through Tuesday, with heavy snow expected at high elevations. Thousands remained without power in the Seattle area on Sunday after a “bomb cyclone” storm system hit the West Coast last week, killing two people. After Trump's win, Black women are rethinking their role as America's reliable political organizers ATLANTA (AP) — Donald Trump's victory has dismayed many politically engaged Black women, and they're reassessing their enthusiasm for politics and organizing. Black women often carry much of the work of getting out the vote, and they had vigorously supported the historic candidacy of Kamala Harris. AP VoteCast, a survey of more than 120,000 voters, found that 6 in 10 Black women said the future of democracy was the single most important factor for their vote this year, a higher share than for other demographic groups. But now, some Black women are renewing calls to emphasize rest, focus on mental health and become more selective about what fight they lend their organizing power to. Pakistani police arrest thousands of Imran Khan supporters ahead of rally in the capital ISLAMABAD (AP) — A Pakistani security officer says police have arrested thousands of Imran Khan supporters ahead of a rally in Islamabad to demand the ex-premier’s release from prison. Khan has been behind bars for more than a year. But he remains popular and his party says the cases against him are politically motivated. Police Sunday arrested more than 4,000 Khan supporters in eastern Punjab province, a Khan stronghold. They include five parliamentarians. Pakistan has sealed off the capital with shipping containers. It also suspended mobile and internet services “in areas with security concerns.” Uruguay's once-dull election has become a dead heat in the presidential runoff MONTEVIDEO, Uruguay (AP) — Uruguayans are heading to the polls to choose their next president. In Sunday's election, the candidates of the conservative governing party and the left-leaning coalition are locked in a close runoff after failing to win an outright majority in last month’s vote. It's a hard-fought race between Álvaro Delgado, the incumbent party’s candidate, and Yamandú Orsi from the Broad Front, a coalition of leftist and center-left parties that governed for 15 years until the 2019 victory of center-right President Luis Lacalle Pou — overseeing the legalization of abortion, same-sex marriage and the sale of marijuana in the small South American nation.
Henry Siu Innovative perspectives and gathering talent are crucial to the development of an innovation ecology in Hong Kong, says Financial Secretary Paul Chan Mo-po, who shared a meal with experts and proponents that included Jensen Huang Jen-hsun, founder of tech giant Nvidia. "This gathering - with innovative views and a Hong Kong taste - represents the two important elements of building a thriving innovation ecology - an innovative perspective and gathering of talent," Chan wrote on his blog yesterday. It was held at a dai pai dong in Sham Shui Po with a number of distinguished innovators and academic leaders in attendance, Chan said. Apart from Huang, Hong Kong University of Science and Technology president Nancy Chu Ip Yuk-yu and HKUST council chairman Harry Shum Heung-yeung were also present. "We shared authentic Hong Kong stir-fry and flavorful traditional Hong Kong dishes while we exchanged our views on IT development and talent cultivation," Chan said. He said he met several enterprises that have expressed interest in Hong Kong's IT development when he visited advanced economies spanning the United States and Europe, as well as the Middle East and the Association of Southeast Asian Nations. "They are eager to know more about the development and application of cutting-edge technology and the development of its relevant manufacturing industry in the Guangdong-Hong Kong-Macau Greater Bay Area for more opportunities of cooperation," he said. Chan said the development of the Hong Kong section of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone has been accelerated, coupled with the substantial investment in information technology made in recent years. He believes the local IT sector would further develop in the direction of industrial development, being an important part of driving Hong Kong's economy. Nvidia founder Huang, 61, was among four individuals conferred honorary doctorates by HKUST. Huang received his doctorate alongside actor Tony Leung Chiu-wai, 2013 Nobel chemistry laureate Michael Levitt and field medalist David Mumford. In a speech on Saturday, Huang, conferred an honorary doctorate degree in engineering, said "the age of AI has started - a new computing era that will impact every industry and every field of science." Huang also told university graduates that he wished he could have started his career now. "The whole world is resetting. You're at the starting lines with everybody else. An industry is being reinvented. You now have the instruments, the instruments necessary to advance science in so many different fields," he said. Asked about the possibility of US president-elect Donald Trump restricting the export of semiconductors against China and how the China-US trade war would affect AI development, Huang said AI development is global and will not be stopped. henry.siu@singtaonewscorp.comThroughout the year, Michigan has excelled at imposing its style of play on every game. On Saturday, the Wolverines got sucked into Iowa basketball. The Wolverines got off to a terrific start and led 20-4 with Iowa star big man Owen Freeman saddled to the bench with two fouls on one early possession, but Fran McCaffery’s bag of tricks pulled the Hawkeyes back into the game. That early 16-point lead was cut down to three by the break. Iowa came back to lead in the second half, but Michigan pulled away with another double-digit lead. Eventually, Saturday’s contest ended where every Iowa game seems to end: a helter-skelter combination of inexplicable big plays and key errors in a single-possession game in the closing seconds. Michigan blew a 6-point lead in the final two minutes before Roddy Gayle Jr. scored on a goaltender layup to give the Wolverines a 2-point lead with 4.6 seconds to play. Days after winning a similar game from the exact spot, Iowa had another chance to win a game with a sideline out-of-bounds set with one second on the clock. This time, the final shot was short, and Michigan prevailed with a crucial but agonizing home victory, which allowed it to move to 8-1 (2-0 Big Ten) in the season. Join UM Hoops today and be covered through the next season for just $32! Use the promo code DUSTY to unlock our content and join our community today! Join Today Join the UM Hoops community today and access our exclusive content. Subscribe Today Already a UM Hoops member? Sign in below Username or Email Address Password Remember Me Join Now | Lost Password?
ITV viewers issue same complaint just minutes into Holly Willoughby's new game showPercentages: FG .569, FT .607. 3-Point Goals: 9-18, .500 (Thomas 2-2, Watkins 2-3, Deng 2-4, Holt 1-1, Swinton 1-1, Davis 1-2, Bol Bowen 0-1, Crawford 0-1, Rozakeas 0-1, Jackson 0-2). Team Rebounds: 6. Team Turnovers: None. Blocked Shots: 4 (Bol Bowen, Deng, Ewin, Holt). Turnovers: 11 (Jones 2, Bol Bowen, Davis, Deng, Ewin, Maluk, Mbatch, Swinton, Thomas, Watkins). Steals: 7 (Bol Bowen 2, Crawford, Davis, Jackson, Maluk, Swinton). Technical Fouls: Bol Bowen, 14:54 second. Percentages: FG .310, FT .690. 3-Point Goals: 3-24, .125 (Curry 1-2, Rivera 1-4, Guerengomba 1-6, Ndjigue 0-1, Watson 0-1, Worthy 0-2, Diggins 0-8). Team Rebounds: 8. Team Turnovers: 1. Blocked Shots: 1 (Rivera). Turnovers: 16 (Rivera 3, Worthy 3, Curry 2, Hankins-Sanford 2, Abdelgowad, Diggins, Guerengomba, Muhammad, Ndjigue, Watson). Steals: 7 (Ndjigue 3, Rivera 2, Abdelgowad, Diggins). Technical Fouls: None. .Technology stocks led a broad rally on Wall Street Tuesday during a holiday-shortened trading session ahead of Christmas. The S&P 500 rose 1.1% for its third-straight gain. The Dow Jones Industrial Average added 0.9%, and the tech-heavy Nasdaq composite climbed 1.3%. While Big Tech companies, including Apple, Amazon and chip company Broadcom helped push the market higher, the gains were widespread. Advancers outnumbered decliners by more than 3-to-1 on the New York Stock Exchange. Broadcom rose 3.2%, Apple gained 1.1% and Amazon closed 1.8% higher. Super Micro Computer climbed 6%. Tesla jumped 7.4% for the biggest gains among S&P 500 stocks. American Airlines shook off an early loss and ended with a 0.6% gain after the airline briefly grounded flights nationwide due to a technical issue. Elsewhere in the market, U.S. Steel rose 1.9% a day after an influential government panel failed to reach consensus on the possible national security risks of the nearly $15 billion proposed sale to Nippon Steel of Japan. NeueHealth surged 74.9% after the health care company agreed to be taken private in a deal valued at roughly $1.3 billion. All told, the S&P 500 rose 65.97 points to 6,040.04. The Dow added 390.08 points to 43,297.03, and the Nasdaq rose 266.24 points to 20,031.13. Treasury yields held steady in the bond market. The yield on the 10-year Treasury was little changed at 4.59%. European markets closed mostly higher. Markets in Asia mostly gained ground. Tuesday’s U.S. market rally comes as the stock market enters what’s historically been a very cheerful season. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. The so-called “Santa rally” also correlates closely with positive returns in January and the upcoming year. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Even so, the stock market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up 26.6% so far this year and remains within roughly 1% of the all-time high it set earlier this month — its latest of 57 record highs this year. U.S. markets will be closed Wednesday for Christmas. Wall Street has several economic reports to look forward to this week, including a weekly update on unemployment benefits on Thursday.None
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