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NoneNEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. The business news you need Get the latest local business news delivered FREE to your inbox weekly.

After Trump’s win, Black women are rethinking their role as America’s reliable political organizers

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Hutson scores 20 as Northern Iowa defeats Southern Illinois 78-67Fluence Energy, Inc. Reports Record Performance in 2024 and Initiates 2025 GuidanceIsrael and Lebanon's Hezbollah agree to a ceasefire to end nearly 14 months of fighting JERUSALEM (AP) — Israel has approved a United States-brokered ceasefire agreement with Lebanon’s Hezbollah, setting the stage for an end to nearly 14 months of fighting linked to the ongoing war in the Gaza Strip. Israeli warplanes meanwhile carried out the most intense wave of strikes in Beirut and its southern suburbs since the start of the conflict and issued a record number of evacuation warnings. At least 24 people were killed in strikes across the country, according to local authorities, as Israel signaled it aims to keep pummeling Hezbollah before the ceasefire is set to take hold at 4 a.m. local time on Wednesday. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. What both sides are saying about the ceasefire deal between Israel and Lebanon's Hezbollah A ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon’s Hezbollah militant group won backing from Israeli leaders. The truce that is set to take effect early Wednesday raised hopes and renewed difficult questions in a region gripped by conflict. Hezbollah leaders also signaled tentative backing for the U.S.-brokered deal, which offers both sides an off-ramp from hostilities But the deal does little directly to resolve the much deadlier war that has raged in Gaza since Hamas militants attacked southern Israel last October. Trump vows tariffs over immigration. What the numbers say about border crossings, drugs and crime. WASHINGTON (AP) — President-elect Donald Trump is threatening tariffs on Mexico and Canada as he seeks to portray them as responsible for illegal immigration and drug smuggling. Over its tenure, the Biden administration has struggled with growing numbers of migrants arriving at the southern border. But this year, the number of people crossing the border without documents has actually been falling. That's due in part to stricter enforcement by Mexican authorities as well as asylum restrictions announced earlier this year by the Biden administration. When it comes to fentanyl smuggling, much of the deadly supply comes from Mexico though statistics show more than 86% of those sentenced for fentanyl trafficking crimes in the 12 months ending September 2023 were U.S. citizens. AP finds that a Pentagon-funded study on extremism in the military relied on old data Early this year, Pete Hegseth told a Fox News audience a new, Pentagon-funded study proved that the number of military service members and veterans involved in the Jan. 6 insurrection did not indicate a wider problem in the armed forces. Hegseth, Donald Trump's pick to head the Department of Defense, wasn’t alone. The Wall Street Journal’s opinion page highlighted the same report as evidence that extremists in military communities were “phantoms” created by a “false media narrative.” The X account for Republicans on the House Armed Services Committee posted that the study showed the focus on extremism in the military was a “witch hunt.” But The Associated Press has found that the study relied on old data, misleading analyses and ignored evidence that pointed to the opposite conclusion. How Trump's bet on voters electing him managed to silence some of his legal woes WASHINGTON (AP) — Special counsel Jack Smith move to abandon two federal cases accusing Trump of endangering American democracy and national security does away with the most serious legal threats Trump was facing as he returns to the White House. It was the culmination of a monthslong defense effort to delay the proceedings at every step and use the criminal allegations to Trump's political advantage, putting the final word in the hands of voters instead of jurors. The move just weeks after Trump’s victory over Vice President Kamala Harris underscores the immense personal stake Trump had in the campaign in which he turned his legal woes into a political rallying cry. Walmart's DEI rollback signals a profound shift in the wake of Trump's election victory NEW YORK (AP) — Walmart’s sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are revaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups in business. The risk associated with some of programs crystalized with the election of former President Donald Trump, whose administration is certain to make dismantling diversity, equity and inclusion programs a priority. Brazil’s Bolsonaro planned and participated in a 2022 coup plot, unsealed police report says SAO PAULO (AP) — Brazil’s former far-right President Jair Bolsonaro was fully aware of and actively participated in a coup plot to remain in office after his defeat in the 2022 election, according to a Federal Police report that has been unsealed. Brazil’s Federal Police last Thursday formally accused Bolsonaro and 36 other people of attempting a coup. They sent their 884-page report to the Supreme Court, which lifted the seal. Bolsonaro called a meeting in December 2022, during which he presented a draft decree to the commanders of the three divisions of the armed forces, that would have declared the vote fraudulent, to justify a possible military intervention. Bolsonaro has repeatedly denied any wrongdoing. Biden proposes Medicare and Medicaid cover costly weight-loss drugs for millions of obese Americans WASHINGTON (AP) — Millions of obese Americans would be eligible to have popular weight-loss drugs like Wegovy or Zepbound covered by Medicare or Medicaid under a new rule the Biden administration proposed Tuesday morning. The proposal, which would not be finalized until after President-elect Donald Trump takes office, could cost taxpayers as much as $35 billion over the next decade. It would give millions of people access to weekly injectables that have helped people shed pounds so quickly that some people have labeled them miracle drugs. New rule allows HIV-positive organ transplants People with HIV who need a kidney or liver transplant will be able to receive an organ from a donor with HIV. That's according to a new rule announced Tuesday by U.S. health officials. Previously, such transplants could be done only as part of research studies. The new rule takes effect Wednesday. It's expected to shorten the wait for organs for all, regardless of HIV status, by increasing the pool of available organs. The practice is supported by a decade of research, during which 500 transplants of kidneys and livers from HIV-positive donors have been done in the U.S. Surveillance tech advances by Biden could aid in Trump's promised crackdown on immigration President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision.AP News Summary at 5:31 p.m. EST

NEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. The business news you need Get the latest local business news delivered FREE to your inbox weekly.

Long Island couple wants to ‘Make Christmas Great Again’ — with this giant 42-foot, $3K inflatable lawn SantaSofi technologies EVP Kelli Keough sells shares worth $139,593

Alarming new forecasts reveal how America's iconic coastal cities could soon be swallowed by the ocean READ MORE: US East Coast cities are SINKING : Millions are living in 'hotspots' By NIKKI MAIN SCIENCE REPORTER FOR DAILYMAIL.COM Published: 15:04 EST, 21 November 2024 | Updated: 15:04 EST, 21 November 2024 e-mail 36 View comments Millions of people living in US coastal cities could see their homes sink into the ocean in the coming decades, a study warns. Researchers at the US Geological Survey (USGS) forecast that by 2100, the East Coast will be devastated by rising sea levels, flooding and sinking land. They estimate that if the sea level rises 3.2 feet by 2100, as the United Nations has predicted, more than 14 million Americans would be affected in places like Norfolk, Virginia to Miami, Florida and New York City . They estimated that it would cost over $1 trillion of property damage and cause the region to lose up to 80 percent of it's beaches. Meanwhile, a separate study found that California's immense water demands are causing parts of the state to sink at record-breaking rates. Researchers at Stanford University found that the San Joaquin Valley is sinking at a rate of nearly one inch per year. The phenomenon, called subsidence , is often caused by removing water, natural gas or mineral resources from the ground. When water is continuously extracted from the Earth's surface and isn't replenished, it causes the sediments to compress, damaging aqueducts and permanently altering aquifers. 'There are two astonishing things about the subsidence in the valley,' said the study's co-author Rosemary Knight. 'First, is the magnitude of what occurred prior to 1970. And second, is that it is happening again today.' Rising sea levels, hurricanes and sinking land has caused parts of the east coast to flood. Pictured: Heavy rain hit Alexandria, Virginia in 2021 which caused some of the worst flooding and damages in decades Millions of people along the southeast Atlantic coast will be displaced by 2100 due to rising sea levels, subsidence and flooding USGS reported that 70 percent of the East Coast population will be exposed to shallow or emerging groundwater caused by rising sea levels by the end of the century, while coastal storms and hurricanes will increase flooding. The rising sea levels are primarily caused by global warming that causes the ocean to heat up and melt glaciers while the Gulf Stream current pushes more water toward the shoreline. Since 1920, sea levels have risen by between six and eight inches, but because of global warming and federal government agencies including the Department of Homeland Security and USGS predicts they'll rise by another 3.2 feet between 2020 and 2100. The rising sea levels will vary depending on the coast, with the East Coast seeing 10 to 14 inches between 2020 and 2050 while the West Coast will see an increase of four to eight inches in that timeframe. The government report also said that major flooding is expected to occur five times as often as it did in 2020 within the next 30 years. There are roughly 80 million people living on the southeast coast and experts found half will be impacted by flooding alone, according to the study published in Nature Climate Change . The team warned the rising water levels will lead to major infrastructure damage including roads, buildings and septic systems.. The study's co-author, Manoochehr Shirzaei from Virginia Tech's Department of Geosciences said: 'We need to rethink how we plan and build for the future, especially in highly vulnerable coastal regions. 'By including a wider range of climate hazards in resilience strategies, we can better protect our communities from the compounded effects of sea level rise and extreme weather.' However, the researchers did not state what strategies should be implemented to prevent the East Coast from further sinking. The USGS also reported that subsidence is causing much of the southeast Atlantic coast's land to sink, which will only worsen the rising sea levels. Cities most exposed to notable sinking land include Miami, Savannah, Charleston, Myrtle Beach, Virginia Beach and Norfolk. This map shows how much the shoreline will be impacted by coastal flooding, sinking land and rising sea levels Groundwater in California has been significantly reduced due to redistributing across the US in the wake of severe droughts. Pictured: A newly dug canal (left) was built next to the Friant-Kern Canal (right) after subsidence diminished it by 60 percent According to the study, 1.3 million people currently live in these areas where subsidence is exceeding two millimeters per year. Likewise, researchers found that this has already begun to occur at drastic levels across the San Joaquin Valley in California, damaging local wells and irrigation systems. San Joaquin Valley's arid climate and a series of droughts has made it necessary to pump out groundwater to support major agricultural land across the US, which have caused permanent changes to the valley's topography. Stanford researchers estimated that about 220 billion gallons of water are needed annually to prevent further subsidence. When water is extracted from natural reservoirs called aquifers it causes the land to lose it's shape and sink. This is because aquifers contain sediments which have pores, much like a sponge, and when the water isn't replenished, those spaces will compress and permanently alter it's ability to carry water. This is seven billion gallons less than the amount of surface water that's left over in the San Joaquin Valley after all other environmental needs have been met each year. However, Knight said she is hopeful that steps can be taken to prevent the land from continuing to sink. 'My group and others have been studying this problem for some time, and this study is a key piece in figuring out how to sustainably address it,' she said. The researchers tracked elevation changes in San Joaquin Valley using satellite technology called interferometric synthetic aperture radar (InSAR). The system noted the changes by transmitting radar signals from Earth's orbit and analyzing the reflections to measure how much the ground had shifted from 2006 through 2022. Maps show the period of subsidence in the San Joaquin Valley. The left image shows areas where it sunk from 2006 to 2010 and the right shows subsidence from 2015 through 2022 Over the last two decades, researchers have known that the valley was sinking, but this is the first time they used satellite radar systems to confirm it. Although there was a gap in data from 2011 through 2015, the team was able to estimate how much the land sank before and after that timeframe. From 2006 through 2010, they reported that the San Joaquin Valley sank by 4.2 cubic feet and sank another 2.8 cubic feet between 2015 and 2022. 'How much was last year's flooding worsened by? How much are farmers spending to re-level their land? A lot of the costs of subsidence aren't well known,' highlights Matthew Lees, the study's lead author. Their findings mirror a similar event that occurred between 1925 and 1970, when groundwater pumping caused more than 4,000 square miles to dramatically sink by up to 30 feet. Read More One in every 50 residents in nearly 25 coastal cities at risk of excessive flooding, study finds According to the study published in the journal Communications Earth and Environment , the researchers recommend implementing a flood-managed aquifer recharge (flood-MAR). This would strategically divert excess water from rain and snowfall to replenish the groundwater in areas that are sinking. 'We should be targeting the places where subsidence will cause the greatest social and economic costs,' Knight explained. 'So, we look at places where subsidence is going to damage an aqueduct or domestic wells in small communities, for instance. 'By taking this Valley-scale perspective,' added Knight, 'we can start to get our head around viable solutions.' Earth Florida California Share or comment on this article: Alarming new forecasts reveal how America's iconic coastal cities could soon be swallowed by the ocean e-mail Add commentJudge rejects request to sideline SJSU volleyball player