NonePeople gather in front of the New York Stock Exchange in New York’s Financial District on Tuesday, Dec. 10, 2024. (AP Photo/Peter Morgan) NEW YORK — U.S. stock indexes got back to climbing on Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 rose 0.8% to break its first two-day losing streak in nearly a month and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average, meanwhile, lagged the market with a dip of 99 points, or 0.2%. Stocks got a boost as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. READ: PSEi slides on disappointing economic data Traders are betting on a nearly 99% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. “The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year, with the latest coming last week. The biggest boosts for the index on Wednesday came from Nvidia and other Big Tech stocks. Their massive growth has made them Wall Street’s biggest stars for years, though other kinds of stocks have recently been catching up somewhat amid hopes for the broader U.S. economy. Tesla jumped 5.9% to finish above $420 at $424.77. It’s a level that Elon Musk made famous in a 2018 tweet when he said he had secured funding to take Tesla private at $420 per share. Stitch Fix soared 44.3% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. GE Vernova rallied 5% for one of the biggest gains in the S&P 500. The energy company that spun out of General Electric said it would pay a 25 cent dividend every three months, and it approved a plan to send up to another $6 billion to its shareholders by buying back its own stock. On the losing end of Wall Street, Dave & Buster’s Entertainment tumbled 20.1% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. Albertsons fell 1.5% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 1%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement with Kroger, Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Macy’s slipped 0.8% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. All told, the S&P 500 rose 49.28 points to 6,084.19. The Dow dipped 99.27 to 44,148.56, and the Nasdaq composite rallied 347.65 to 20,034.89. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, edged up to 4.15% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law.
Donald Trump set to be named Time's 'Person of the Year'Article content Between Justin Trudeau’s inability to refrain from Trump-bashing and the horrendous ideas coming out of Ontario that will cripple Alberta’s economy, the Trump tariff crisis is starting to feel like a disaster for this province, possibly an unprecedented selling out of Alberta’s interests in favour of Eastern Canada. It was no surprise then to see Premier Danielle Smith engaging in furious damage control on Thursday, criticizing Trudeau’s ongoing snipes at president-elect Donald Trump while also lashing out against proposals from Ontario leaders to either ban or tax oil exports to the U.S. in retaliation of Trump’s proposed 25 per cent tariffs. “It’s not helpful,” Smith said of Trudeau’s public statements this week, evidently doing her best to sound diplomatic in a situation where Trudeau himself has dropped diplomacy in the dumpster. Instead of addressing Trump’s long-standing concerns about illegal migrants and fentanyl crossing the Canada-U.S. border, Trudeau scolded American voters for failing to elect progressive left female candidate Kamala Harris. “These are regressive and reactionary forces that want to push us backwards and unfortunately succeed too often,” Trudeau said. “Just a few weeks ago, the United States voted for a second time to not elect its first woman president.” Trudeau then proudly reminded the world about what a great feminist he himself is. Trudeau’s speech is being treated like a bad smell in the United States, with Trump confidante billionaire Elon Musk labelling Trudeau as an “insufferable tool.” Smith said she expressed her concerns about Trudeau’s speech to Trudeau and Canada’s other premiers in their conference call on Wednesday. “I think the American people voted pretty decisively for the Republicans and for president-elect Donald Trump, in particular, and as a trading partner, an ally of the United States, I respect their vote.” As for the ban or tax on Canadian oil exports, Ontario Premier Doug Ford said this week he’ll do whatever it takes to protect Ontario’s export trade to the U.S., even if that means cutting off oil and gas moving in pipelines from Ontario to the U.S. “My Number 1 job is to protect Ontario, Ontarians and Canadians as a whole since we’re the largest province.” Smith shot down Ford’s ideas. “Under no circumstances will Alberta agree to cut off oil and gas exports,” she said. Smith was more forceful in denouncing a plan put forward in Bloomberg News by international trade insider Steve Verheul of the Bay Street firm GT & Co. Verheul was Trudeau’s chief trade negotiator from 2017 to 2021 and renegotiated the North American Free Trade Agreement with the first Trump administration, so his idea can’t be ignored. Canada anticipates the Americans might not want to put the Trump tariff on oil and gas and food products from Canada, Verheul said. To strike back at the U.S. and to try to convince them not to put the Trump tariffs on other Canadian exports as well, Verheul suggested Canada itself would put a retaliatory export tax on oil and gas and food products, thus driving up costs for American consumers. “It’s a terrible idea,” Smith said when I asked her about this proposal. Alberta is the owner of its own oil and gas and has $122 billion in export trade, Smith said, but if Ottawa imposed its own 25 per cent tax on that, $30 billion would be going to Ottawa.. “If you think I would be supportive of that, I must tell you in no uncertain terms, that would not be on.” If this dispute turns into Alberta transferring $30 billion more to Ottawa, all in the name of saving Ontario and Quebec trade interests, it’s hard to imagine the political fury unleashed in Alberta. It will shake the nation. Smith spoke out Thursday as she announced Alberta’s own plan to thwart illegal activity around firearms, drugs or migrants at the 300-km Alberta-U.S. border. Alberta plans to boost federal border control by bringing a new Alberta patrol team of sheriffs with 51 armed officers, drug patrol dogs and 10 surveillance drones. “What we need to do is address the serious concerns that the U.S. administration has identified, which are our shared concerns, the border, fentanyl, in particular, the opioid death crisis,” Smith said. This dispute shouldn’t be complicated. Trump has identified valid concerns about illegal drugs and out-of-control immigration. The Canadian public has long been desperate for action on these same problems. Maybe it’s better to focus on solutions, as opposed to insulting Trump and American democracy, while coming up with shocking retaliatory plans so incendiary and divisive that only a combination of Bay Street, Queen’s Park and Ottawa could have concocted them. dstaples@postmedia.com Recommended from Editorial David Staples: Trudeau is fighting the wrong war against Trump and Canada will pay the price Alberta premier says she won't match Trump tariffs on exported oil and gas Bookmark our website and support our journalism: Don’t miss the news you need to know — add EdmontonJournal.com and EdmontonSun.com to your bookmarks and sign up for our newsletters . You can also support our journalism by becoming a digital subscriber. Subscribers gain unlimited access to The Edmonton Journal, Edmonton Sun, National Post and 13 other Canadian news sites. The Edmonton Journal | The Edmonton Sun
New Era Begins For Tar Heel FootballNEW YORK (AP) — U.S. stocks climbed Thursday after market superstar Nvidia and another round of companies said they’re making even fatter profits than expected. The S&P 500 pulled 0.5% higher after flipping between gains and losses several times during the day. Banks, smaller companies and other areas of the stock market that tend to do best when the economy is strong helped lead the way, while bitcoin briefly broke above $99,000. Crude oil, meanwhile, continued to rise. The Dow Jones Industrial Average jumped 461 points, or 1.1%, and the Nasdaq composite edged up by less than 0.1%. Nvidia rose just 0.5% after beating analysts’ estimates for profit and revenue yet again, but it was still the strongest force pulling the S&P 500 upward. It also gave a forecast for revenue in the current quarter that topped most analysts’ expectations due to voracious demand for its chips used in artificial-intelligence technology. Its stock initially sank in afterhours trading Wednesday following the release of the results. Some investors said the market might have been looking for Nvidia’s revenue forecast to surpass expectations by even more. But its stock recovered in premarket trading Thursday, and Wedbush analyst Dan Ives said it was another “flawless” profit report provided by Nvidia and CEO Jensen Huang, whom Ives calls “the Godfather of AI.” The stock meandered through Thursday as well, dragging the S&P 500 and other indexes back and forth. How Nvidia’s stock performs has more impact than any other because it’s grown into Wall Street’s most valuable company at roughly $3.6 trillion. The frenzy around AI is sweeping up other stocks, and Snowflake jumped 32.7% after reporting stronger results for the latest quarter than analysts expected. The company, whose platform helps customers get a better view of all their silos of data and use AI, also reported stronger revenue growth than expected. BJ’S Wholesale Club rose 8.3% after likewise delivering a bigger profit than expected. That may help calm worries about how resilient U.S. shoppers can remain, given high prices across the economy and still-high interest rates. A day earlier, Target tumbled after reporting sluggish sales in the latest quarter and giving a dour forecast for the holiday shopping season. It followed Walmart , which gave a much more encouraging outlook. Nearly 90% of the stocks in the S&P 500 ended up rising Thursday, and the gains were even bigger among smaller companies. The Russell 2000 index of smaller stocks jumped a market-leading 1.7%. Google’s parent company, Alphabet, helped keep indexes in check. It fell 4.7% after U.S. regulators asked a judge to break up the tech giant by forcing it to sell its industry-leading Chrome web browser. In a 23-page document filed late Wednesday, the U.S. Department of Justice called for sweeping punishments that would include restrictions preventing Android from favoring its own search engine. Regulators stopped short of demanding Google sell Android but left the door open to it if the company’s oversight committee continues to see evidence of misconduct. All told, the S&P 500 rose 31.60 points to 5,948.71. The Dow jumped 461.88 to 43,870.35, and the Nasdaq composite added 6.28 to 18,972.42. In the crypto market, bitcoin eclipsed $99,000 for the first time before pulling back toward $98,000, according to CoinDesk. It’s more than doubled so far this year, and its climb has accelerated since Election Day. President-elect Donald Trump has pledged to make the country “the crypto capital of the planet” and create a “strategic reserve” of bitcoin. Bitcoin got a further boost after Gary Gensler, the chair of the Securities and Exchange Commission, said Thursday he would step down in January . Gensler has pushed for more protections for crypto investors. Bitcoin and related investment have a notorious history of big price swings in both directions. MicroStrategy, a company that’s been raising cash expressly to buy bitcoin, saw an early Thursday gain of 14.6% for its stock quickly disappear. It finished the day with a loss of 16.2%. In the oil market, a barrel of benchmark U.S. crude rose 2% to bring its gain for the week to 4.8%. Brent crude, the international standard, climbed 1.8%. Oil has been rising amid escalations in the Russia-Ukraine war. In stock markets abroad, shares of India’s Adani Enterprises plunged 22.6% Thursday after the U.S. charged founder Gautam Adani in a federal indictment with securities fraud and conspiracy to commit securities and wire fraud. The businessman and one of the world’s richest people is accused of concealing that his company’s huge solar energy project on the subcontinent was being facilitated by an alleged bribery scheme. Stock indexes elsewhere in Asia and Europe were mixed. In the bond market, the yield on the 10-year Treasury inched up to 4.43% from 4.41% late Wednesday following some mixed reports on the U.S. economy. One said fewer U.S. workers applied for unemployment benefits last week in the latest signal that the job market remains solid. Another report, though, said manufacturing in the mid-Atlantic region unexpectedly shrank. Sales of previously occupied homes, meanwhile, strengthened last month by more than expected. AP Business Writers Matt Ott and Yuri Kageyama contributed.
Bhogta’s strategy to field daughter-in-law from Chatra fails to yield result
NEW YORK -- NEW YORK (AP) — Neanderthals and humans likely mixed and mingled during a narrow time frame 45,000 years ago, scientists reported Thursday. Researchers analyzed ancient genes to pinpoint the time period, which is slightly more recent than previous estimates for the mating. Modern humans emerged in Africa hundreds of thousands of years ago and eventually spread to Europe, Asia and beyond. Somewhere along the way, they met and mated with Neanderthals , leaving a lasting fingerprint on our genetic code . Scientists don't know exactly when or how the two groups entangled. But ancient bone fragments and genes are helping scientists figure that out. “Genetic data from these samples really helps us paint a picture in more and more detail,” said study co-author Priya Moorjani at the University of California Berkeley. The research published Thursday in the journals Science and Nature. To pin down the timeline, researchers peeked at some of the oldest human genes from the skull of a woman, called Zlatý kůň or Golden horse for a hill in the Czech Republic where it was found. They also examined bone fragments from an early human population in Ranis, Germany, about 140 miles (230 kilometers) away. They found snippets of Neanderthal DNA that placed the mating at around 45,000 years ago. In a separate study, researchers tracked signs of Neanderthal in our genetic code over 50,000 years. They found Neanderthal genes related to immunity and metabolism that may have helped early humans survive and thrive outside of Africa. We still carry Neanderthals' legacy in our DNA. Modern-day genetic quirks linked to skin color, hair color and even nose shape can be traced back to our extinct former neighbors. And our genetic code also contains echoes from another group of extinct human cousins called Denisovans. Future genetic studies can help scientists detangle exactly what — and who — we're made of, said Rick Potts, director of the Smithsonian’s Human Origins program who was not involved with the new research. “Out of many really compelling areas of scientific investigation, one of them is: well, who are we?” Potts said. —- The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.WASHINGTON -- Trump says he will nominate former Florida AG Pam Bondi to be US Attorney General after first pick, Matt Gaetz, withdrew.
NEW DELHI: The Nifty Pharma index traded around 10:25AM(IST)on Tuesday in a weak market. Granules India Ltd.(up 1.28 per cent), Glenmark Pharmaceuticals Ltd.(up 0.87 per cent), Biocon Ltd.(up 0.76 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 0.51 per cent) and Alkem Laboratories Ltd.(up 0.11 per cent) were among the top gainers. Ipca Laboratories Ltd.(down 2.35 per cent), Lupin Ltd.(down 1.77 per cent), Divi's Laboratories Ltd.(down 1.65 per cent), Aurobindo Pharma Ltd.(down 1.33 per cent) and Sanofi India Ltd.(down 1.32 per cent) were the top losers on the index. The Nifty Pharma index was 0.67 per cent at 22028.25 at the time of writing this report. Benchmark NSE Nifty50 index was down 52.11 points at 24169.8, while the BSE Sensex was 188.23 points at 79921.62. Stock Trading Macroeconomics Made Easy: Online Certification Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Options Trading Made Easy: Options Trading Course By - Anirudh Saraf, Founder- Saraf A & Associates, Chartered Accountant View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Options Scalping Made Easy By - Sivakumar Jayachandran, Ace Scalper View Program Stock Trading Cryptocurrency Made Easy: Cryptocurrency Course By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading RSI Trading Techniques: Mastering the RSI Indicator By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading Introduction to Technical Analysis & Candlestick Theory By - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology Expert View Program Stock Trading RSI Made Easy: RSI Trading Course By - Souradeep Dey, Equity and Commodity Trader, Trainer View Program Stock Trading Point & Figure Chart Mastery: A Comprehensive Trading Guide By - Mukta Dhamankar, Full Time Trader, 15 Years Experience, Instructor View Program Stock Trading Market 103: Mastering Trends with RMI and Techno-Funda Insights By - Rohit Srivastava, Founder- Indiacharts.com View Program Among the 50 stocks in the Nifty index, 18 were trading in the green, while 32 were in the red. Shares of Vodafone Idea, YES Bank, Sagility India, Tata Teleservices and Zomato were among the most traded shares on the NSE. Shares of 3P Land Holdings, Pix Trans, Aries Agro, Marksans Pharma and Shree Rama Multi hit their fresh 52-week highs in today's trade, while Adani Green, Digjam, Adani Transmission, Tree House Edu and Dhanvarsha Finvest hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel )
Biden opens final White House holiday season with turkey pardons and first lady gets Christmas tree WASHINGTON (AP) — President Joe Biden has kicked off his final holiday season at the White House, issuing the traditional reprieve to two turkeys who will bypass the Thanksgiving table to live out their days in Minnesota. The president welcomed 2,500 guests under sunny skies as he cracked jokes about the fates of “Peach” and “Blossom.” He also sounded wistful tones about the last weeks of his presidency. Separately, first lady Jill Biden received the delivery of the official White House Christmas tree. And the Bidens are traveling to New York later Monday for an early holiday celebration with members of the Coast Guard. Couple charged in ring suspected of stealing $1 million in Lululemon clothes MINNEAPOLIS (AP) — A Connecticut couple has been charged in Minnesota with being part of a shoplifting ring suspected of stealing around $1 million in goods across the country from upscale athletic wear retailer Lululemon.Jadion Anthony Richards and Akwele Nickeisha Lawes-Richards, both of Danbury, Connecticut, were charged this month with one felony count of organized retail theft. Both went free last week after posting bail bonds of $100,000 for him and $30,000 for her. They're also suspected in thefts from Lululemon stores in Colorado, Utah, New York and Connecticut. They're due back in court next month. Formula 1 expands grid to add General Motors' Cadillac brand and new American team for 2026 season LAS VEGAS (AP) — Formula 1 will expand the grid in 2026 to make room for an American team that is partnered with General Motors. The approval ends years of wrangling that launched a federal investigation into why Colorado-based Liberty Media, would not approve the team initially started by Michael Andretti, who has since stepped aside. The 11th team will be called Cadillac F1 and be run by new Andretti Global majority owners Dan Towriss and Mark Walter. The team will use Ferrari engines its first two years until GM has a Cadillac engine built for competition in time for the 2028 season. US goalkeeper Alyssa Naeher is retiring from international soccer U.S. women’s national team goalkeeper Alyssa Naeher is retiring from international soccer. Naeher is on the team’s roster for a pair of upcoming matches in Europe but those will be her last after a full 11 years playing for the United States. Naeher was on the U.S. team that won the Women’s World Cup in 2019 and the gold medal at this year's Olympics in France. She’s the only U.S. goalkeeper to earn a shutout in both a World Cup and an Olympic final. Bah, humbug! Vandal smashes Ebenezer Scrooge's tombstone used in 'A Christmas Carol' movie LONDON (AP) — If life imitates art, a vandal in the English countryside may be haunted by The Ghost of Christmas Yet to Come. Police in the town of Shrewsbury are investigating how a tombstone at the fictional grave of Ebenezer Scrooge was destroyed. The movie prop used in the 1984 adaption of Charles Dickens' “A Christmas Carol” had become a tourist attraction. The film starred George C. Scott as the cold-hearted curmudgeon who is visited by three ghosts on Christmas Eve who show him what will become of his life if he doesn’t become a better person. West Mercia Police say the stone was vandalized in the past week. Megachurch founder T.D. Jakes suffers health incident during sermon at Dallas church DALLAS (AP) — The founder of Dallas-based megachurch The Potter's House, Bishop T.D. Jakes, was hospitalized after suffering what the church called a “slight health incident.” Jakes was speaking to churchgoers after he sat down and began trembling as several people gathered around him Sunday at the church. Jakes' daughter Sarah Jakes Roberts and her husband Touré Roberts said in a statement on social media late Sunday that Jakes was improving. The 67-year-old Jakes founded the non-denominational The Potter's House in 1996 and his website says it now has more than 30,000 members with campuses in Fort Worth and Frisco, Texas; and in Denver. At the crossroads of news and opinion, 'Morning Joe' hosts grapple with aftermath of Trump meeting The reaction of those who defended “Morning Joe” hosts Joe Scarborough and Mika Brzezinski for meeting with President-elect Trump sounds almost quaint in the days of opinionated journalism. Doesn't it makes sense, they said, for hosts of a political news show to meet with such an important figure? But given how “Morning Joe” has attacked Trump, its viewers felt insulted. Many reacted quickly by staying away. It all reflects the broader trend of opinion crowding out traditional journalist in today's marketplace, and the expectations that creates among consumers. By mid-week, the show's audience was less than two-thirds what it has typically been this year. Pilot dies in plane crash in remote woods of New York, puppy found alive WINDHAM, N.Y. (AP) — Authorities say a pilot and at least one dog he was transporting died when a small plane crashed in the snowy woods of the Catskill Mountains, though a puppy on the flight was found alive with two broken legs. The Greene County sheriff’s office says Seuk Kim of Springfield, Virginia, was flying from Maryland to Albany, New York, when the plane crashed at about 6:10 p.m. Sunday in a remote area. Officials believe the pilot died from the impact. The surviving dog was hospitalized, while a third dog was not located. The flight was connected with a not-for-profit group that transports rescue animals. Warren Buffett gives away another $1.1B and plans for distributing his $147B fortune after his death OMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it’s possible that Buffett’s children could die before giving it all away. Buffett said he has no regrets about his decision to start giving away his fortune in 2006. Pop star Ed Sheeran apologizes to Man United boss Ruben Amorim for crashing interview MANCHESTER, England (AP) — British pop star Ed Sheeran has apologized to Ruben Amorim after inadvertently interrupting the new Manchester United head coach during a live television interview. Amorim was talking on Sky Sports after United’s 1-1 draw with Ipswich on Sunday when Sheeran walked up to embrace analyst Jamie Redknapp. The interview was paused before Redknapp told the pop star to “come and say hello in a minute.” Sheeran is a lifelong Ipswich fan and holds a minority stake in the club. He was pictured celebrating after Omari Hutchinson’s equalizing goal in the game at Portman Road.