Liverpool boss Arne Slot talks up ‘special player’ Mohamed SalahRollins Inc. stock remains steady Wednesday, underperforms market
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Trump Picks Brooke Rollins, a Conservative Lawyer, to Lead Agriculture Dept.
NEW YORK (AP) — Stocks are closing lower as Wall Street ends a holiday-shortened week on a down note. The S&P 500 fell 1.1% Friday and the the Dow Jones Industrial Average lost 333 points, or 0.8%. The Nasdaq composite dropped 1.5%. The “Magnificent 7” stocks weighed on the market, led by declines in Nvidia, Tesla and Microsoft. Even with the loss, the S&P 500 had a modest gain for the week and is still headed for its second consecutive annual gain of more than 20%, the first time that has happened since 1997-1998. The yield on the 10-year Treasury rose to 4.62%. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Technology stocks are dragging down the market Friday as Wall Street closes out a holiday-shortened week. The S&P 500 fell 1.3%, with more than 90% of stocks in the benchmark index losing ground. The benchmark index was managing to hold onto a modest gain for the week. The Dow Jones Industrial Average fell 418 points, or 1%, to 42,878 as of 1:43 p.m. Eastern time. The Nasdaq composite fell 1.8%. Technology stocks were the biggest weight on the market Friday. Semiconductor giant Nvidia slumped 2.7%. Its enormous valuation gives it an outsize influence on indexes. Other Big Tech stocks losing ground included Microsoft, with a 2% decline. A wide range of retailers also fell. Amazon fell 1.9% and Best Buy slipped 1.8%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy stocks held up better than the rest of the market, with a loss of just 0.1% as crude oil prices rose 1.4%. The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline. “There's just some uncertainty over this relief rally we've witnessed since last week,” said Adam Turnquist, chief technical strategist for LPL Financial. Despite Friday's drop, the market is . The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. The stream of upbeat economic data and easing inflation this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though Inflation has come closer to the central bank's target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts. Inflation concerns have added to uncertainties heading into 2025, which include the labor market’s path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump’s preference for tariffs and other policies could lead to , a bigger U.S. government debt and difficulties for global trade. Amedisys rose 4.7% after the home health care and hospice services provider agreed to extend the deadline for its sale to UnitedHealth Group. The Justice Department had sued to block the $3.3 billion deal, citing concerns he combination would hinder access to home health and hospice services in the U.S. The move to extend the deadline comes ahead of an expected shift in regulatory policy under Trump. The incoming administration is expected to have a more permissive approach to dealmaking and is less likely to raise antitrust concerns. In Asia, Japan’s benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. Markets in Europe gained ground. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.61% from 4.59% late Thursday. The yield on the two-year Treasury slipped to 4.31% from 4.33% late Thursday. Wall Street will have more economic updates to look forward to next week, including reports on pending home sales and home prices. There will also be reports on U.S. construction spending and snapshots of manufacturing activity. Damian J. Troise, The Associated PressLSU outlasts UCF 109-102 in triple-OT affairSeyi Tinubu: Strong PDP chieftain reveals how party members sign secret deals with APC
Don’t expect to see Hollywood celebrities demonstrating in pussy hats on inauguration day like we did nearly eight years ago. Hollywood’s Trump resistance faction is still in a state of shock following President-elect Donald Trump’s resounding victory over Kamala Harris, according to a new report from The Hollywood Reporter . Their demoralized state means that they won’t be mounting a broad “resistance” against the incoming president as they did back in early 2017. “Leave your pussy hats at home,” THR advised. Instead, Hollywood elites are reportedly re-focusing their efforts on local and down-ballot candidates, with a special focus on abortion and climate change. “I do think that the approach will be much more micro than macro this time around,” Hannah Linkenhoker, the chief engagement officer at the industry law firm Johnson Shapiro Slewett & Kole, told the outlet. “We’ll see more of a focus on state and local levels. The fight to protect abortion is a good case study. You’re seeing states ratifying abortion at the state level. The abortion movement has pivoted there,” Natalie Tran, the executive director of the CAA Foundation, reportedly said. Back in early 2017, Hollywood elites literally poured onto the mean streets of Beverly Hills to voice their resistance toward President Trump’s first term. United Talent Agency — one of the big three Hollywood talent agencies — organized a mass rally on Wilshire Boulevard in February 2017 featuring Jodie Foster, Michael J. Fox, and not-yet- Wicked star Cynthia Erivo. UTA’s CEO Jeremy Zimmer, who is a major Democrat fundraiser, also participated in the protest as did then-California Lt. Gov. and current Gov. Gavin Newsom. The previous month, the Women’s March in Washington, D.C. featured numerous celebrities donning pussy hats and protesting Trump. Madonna infamously addressed marchers by saying she fantasized about “blowing up” The White House. This time around, celebrities are opting for fewer theatrics. Jane Fonda’s climate change PAC is reportedly planning to focus on supporting candidates in down-ballot races. “We see these local and state and county-level electeds as a fire wall against what might be coming from the Trump administration,” executive director Sarah Lane told THR . Follow David Ng on Twitter @HeyItsDavidNg . Have a tip? Contact me at dng@breitbart.comIsrael raids north Gaza hospital, air strikes kill 25
Millions to swelter on hottest day of the yearLiverpool boss Arne Slot talks up ‘special player’ Mohamed Salah
Trump asks US Supreme Court to pause law threatening TikTok banThe blame game has begun as Labor struggles to clear a logjam of legislation before the federal election. or signup to continue reading With 30 or so bills still before parliament and just one sitting week left in 2024, the Albanese government has taken aim at the Greens for stalling legislation. The minor party's objection to the Help to Buy shared equity scheme and incentives for build-to-rent have ignited Labor's ire as the government prepares to bring the bills for a final vote in the Senate in the upcoming days. "The Greens are going to the next election either as an effective party of protest, that has blocked and delayed action on things they say are important to them, or as a party that lets the government get on with addressing the housing needs of Australia," Housing Minister Clare O'Neil told ABC Radio on Monday. The two housing bills have struggled to attract the support of the opposition or the Greens, with Labor knocking back fresh demands from the minor party. Central to the Greens' updated position is funding for 25,000 "shovel-ready" homes not given the go-ahead under the first round of the Housing Australia Future Fund. Greens housing spokesman Max Chandler-Mather said his party had designed "a compromise offer that is popular, achievable and easy to accept, it requires no new legislation and sits broadly within government policy". Labor insists the demand is unlawful and would result in the construction of million-dollar homes that are not value for money and could try push through the bill without support from the Greens. "The time for this negotiation and conversation was six months ago," Ms O'Neil said. The federal government's attack on the Greens follows the Queensland state election. The minor party lost a seat in the October contest, bolstering hopes for a Labor resurgence in the state at the upcoming federal election. Meanwhile, the federal government will try court the opposition's support for its migration bill, which could result in the deportation of more than 80,000 people. A friendless crackdown on misinformation and disinformation has been shelved and gambling reforms have been pushed into 2025. Other proposals to establish an environment protection agency and cap the number of foreign student arrivals have reached a stalemate and cabinet minister have continued to point fingers. "You have populist, vote-grabbing parties like the Greens and the coalition," Resources Minister Madeleine King told ABC Radio. "We're trying to do the right thing for the Australian community, whereas they want to block this to be able to put out another TikTok. "It's absolutely disgraceful." To Labor's relief, the government is expecting wins on its aged care reforms and its social media age limit, with the former expected to attract opposition support. Under world-first legislation, Australians younger than 16 will be banned from social media platforms including Facebook, Instagram, Snapchat, Reddit and X. Labor will also be spruiking its Future Made in Australia plan, with its hydrogen and critical minerals production tax incentives to be introduced to parliament on Monday. The federal election is due to be held by May 17. Advertisement Sign up for our newsletter to stay up to date. We care about the protection of your data. Read our . Advertisement
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