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Stock market today: Wall Street heads for gains, but not enough to salvage a big September slide

Published Fri, 07 Feb 2025 01:21:28 GMT

BANGKOK — Wall Street pointed higher early Friday as markets try to claw back some of the losses in what will most likely be the second straight month of declines and the worst month of 2024.Futures for the Dow Jones industrials and the S&P 500 rose about 0.5% before the opening bell.Entering the last day of September trading, the S&P is down 4.6% for the month, while the Dow has seen a 3% decline. That follows August’s declines of 2.4% for the Dow and 1.8% for the S&P 500.Most of the market’s recent anxiety has been centered on the Federal Reserve that has signaled interest rates will likely remain elevated for longer than most economists expected as the fight against inflation proves difficult. While prices increases have slowed significantly in the past year, they remain above the Fed’s 2% target.The Fed has stoked its main interest rate to the highest level since 2001 in hopes of extinguishing high inflation, and it indicated last week it may cut ra...

Clock is ticking as United Autoworkers threaten to expand strikes against Detroit automakers Friday

Published Fri, 07 Feb 2025 01:21:28 GMT

DETROIT (AP) — The United Auto Workers strikes against Detroit’s three automakers that spread to dozens of parts distribution centers one week ago could deepen Friday. The union has vowed to hit automakers harder if it does not receive what it calls substantially improved contract offers as part of an unprecedented, simultaneous labor campaign against Ford, General Motors and Jeep maker Stellantis. UAW President Shawn Fain is scheduled to make an announcement at 10 a.m. Eastern time in a video appearance addressing union members. Additional walkouts could begin at noon Friday, the union said.But progress was reported in talks Thursday night, and in a statement Friday morning, the union left itself room to delay expansion of the strikes. The statement said Fain would announce “whether more workers will stand up and join the ongoing strike” against the automakers.The automakers’ last known wage offers were around 20% over the life of a four-year contract, a little more than half...

Biden calls for up to three oil and gas lease sales in the Gulf of Mexico, disappointing all sides

Published Fri, 07 Feb 2025 01:21:28 GMT

WASHINGTON (AP) — President Joe Biden’s administration on Friday proposed up to three oil and gas lease sales in the Gulf of Mexico but none in Alaska as it tries to navigate between energy companies seeking greater oil and gas production and environmental activists who want Biden to shut down new offshore drilling in the fight against climate change.The five-year plan includes proposed sales in the Gulf of Mexico, the nation’s primary offshore source of oil and gas, in 2025, 2027 and 2029. The three lease sales are the minimum number the Democratic administration could legally offer if it wants to continue expanding offshore wind development. Under the terms of a 2022 climate law, the government must offer at least 60 million acres of offshore oil and gas leases in any one-year period before it can offer offshore wind leases. The provision tying offshore wind to oil and gas production was added by Democratic Sen. Joe Manchin of West Virginia, a top recipient of oil and gas do...

More than 70% of Nagorno-Karabakh’s population has fled as separatist government plans to dissolve

Published Fri, 07 Feb 2025 01:21:28 GMT

YEREVAN, Armenia (AP) — More than 70% of Nagorno-Karabakh’s original population has fled to Armenia, authorities said, as the region’s separatist government said it would dissolve itself, and the unrecognized republic inside Azerbaijan would cease to exist by year’s end after a three-decade bid for independence.Armenian officials said that 84,770 people had left Nagorno-Karabakh by Friday morning, continuing a mass exodus from the region of ethnic Armenians that began Sunday. The region’s population was around 120,000 before the exodus began.The moves came after Azerbaijan carried out a lightning offensive last week to reclaim full control over the breakaway region and demanded that Armenian troops in Nagorno-Karabakh disarm and the separatist government disband.A decree signed by the region’s separatist president, Samvel Shakhramanyan, cited a Sept. 20 agreement to end the fighting under which Azerbaijan will allow the “free, voluntary and unhindered movement” of ...

Higher gas prices lift Fed’s preferred inflation gauge but underlying price pressures remain mild

Published Fri, 07 Feb 2025 01:21:28 GMT

WASHINGTON (AP) — An inflation gauge closely tracked by the Federal Reserve accelerated in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating.Friday’s report from the Commerce Department showed that prices rose 0.4% from July to August, up from just 0.2% the previous month.Compared with a year earlier, prices rose 3.5% in August, up from 3.4% year-over-year increase in July. It was the second straight rise in the year-over-year figure, which has tumbled from its 7% peak in June 2022 but still exceeds the Fed’s 2% inflation target. A sharp increase in gas costs drove the August price increase, just as it did in the more widely followed consumer price inflation figures that the government issued earlier this month. But excluding the volatile food and gas categories, “core” inflation remained comparatively tame in August, evidence that it’s continuing to cool, though m...

Toronto Blue Jays on cusp of locking down playoff berth

Published Fri, 07 Feb 2025 01:21:28 GMT

It’s time to put the champagne on ice at Rogers Centre. The Toronto Blue Jays are on the cusp of locking up a playoff berth.The Blue Jays can clinch a playoff berth if they beat the visiting Tampa Bay Rays tonight and the Seattle Mariners lose to the Texas Rangers.Toronto shut out the New York Yankees 6-0 on Thursday to remain in sole possession of the second American League wild-card spot.Toronto is one game ahead of the Houston Astros, who hold the third wild-card spot. The Blue Jays are two games ahead of the Mariners.Will Blue Jays fans be floating tonight like these balloons and celebrating a post-season berth or will their dreams be popped once again? Jays magic number is 2:Win 2 this wknd & they’re in playoffs. Or win 1 and Houston or Seattle lose 1 and they’re still likely in.GO JAYS GO! pic.twitter.com/95c483lXcz— carl hanstke (@carlCityNews) September 29, 2023The Rays have secured the first wild-card spot.After their three-game series in Toronto, they will...

The leader of Spain’s conservatives fails in his second attempt in parliament to become premier

Published Fri, 07 Feb 2025 01:21:28 GMT

MADRID (AP) — The leader of Spain’s conservatives on Friday failed for the second time in three days to get parliamentary support for his bid to become prime minister following his party’s victory in a national election.In a vote in the Congress of Deputies in Madrid, the Spanish parliament’s lower chamber, Popular Party leader Alberto Núñez Feijóo collected again 173 lawmakers’ votes in his favor to 177 against him — roughly the same that he received two days earlier. The Popular Party holds 137 seats in the Congress of Deputies, the most of any party, following the July election. But even with backing from the far-right Vox party’s 33 lawmakers and two from small conservative rivals, it was not enough for Feijóo.His defeat opened a door for center-left Socialist leader Pedro Sánchez, whose Socialists placed second in the election, to possibly return to power if he can persuade smaller parties to back him. Sánchez has been Spain’s prime minister for the past five years...

A bus carrying dozens of schoolchildren overturns in northwest England, seriously injuring 1 person

Published Fri, 07 Feb 2025 01:21:28 GMT

LONDON (AP) — A bus carrying dozens of schoolchildren overturned on a highway near Liverpool on Friday, seriously injuring one person and causing a local hospital to declare a major incident as doctors treated dozens of passengers.The bus was transporting students from Calday Grange Grammar School and West Kirby Grammar School for girls on the Wirral Peninsula, across the River Mersey from Liverpool. Traffic on the M53 motorway was blocked as police and other emergency services responded to the incident, which was reported shortly after 8 a.m. local time.The North West Ambulance Service said it dispatched ambulances, advanced paramedics, a hazardous area response team and a helicopter emergency medical service doctor to the scene.“So far, one female patient has been taken to the hospital, suffering major trauma-related injuries,” the ambulance service said. “There are also nearly 50 other patients being assessed at the scene.”Alder Hey Children’s Hospital dec...

Why we’re all paying different prices online

Published Fri, 07 Feb 2025 01:21:28 GMT

In today’s Big Story Podcast, you and a friend might be given two different prices by the same website for the same item. You might be given two different prices yourself depending on where you are when you’re browsing the site. It’s a phenomenon that began as dynamic pricing — a computer balancing supply and demand to ensure everything was sold at a price the market was prepared to pay — but it’s now gone well beyond that.Colin Horgan wrote about personalized pricing in The Walrus. He says the concern here is the opacity of the pricing systems and the data they use.“There’s very little transparency about what information they’re gathering about you, that is the real crux of this issue,” he says.As algorithms become smarter and more advanced, and as we voluntarily offer our devices and the companies we do business with more of our information, the prices you see may take into account everything a machine could possibly deduce about you and your shopping habits.Is t...

Thursday Forecast: Patchy fog with temps in mid 70s

Published Fri, 07 Feb 2025 01:21:28 GMT

CHICAGO — Patchy dense fog with mostly sunny conditions Friday and cooler lakeside. Winds: E 5-10. High: 75/72. Interactive Radar: Track showers and storms here Dense Fog Advisory until 9 a.m. for: McHenry, Kane, DuPage, DeKalb, LaSalle, Kendall, Grundy, Will, Kankakee, Jasper counties.Mostly clear tonight with calm conditions. Winds: E 0-5. Low: 59.Saturday Forecast: Mostly sunny, cooler lakeside, SSE 0-5. High: 82/77.Full forecast details and more at the WGN Weather Center blog