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Stock market today: Wall Street rallies as it heads for a winning week, month and first half of year

Published Fri, 07 Feb 2025 13:18:52 GMT

By STAN CHOE (AP Business Writer)NEW YORK (AP) — Wall Street is rallying again Friday after reports suggested pressure on inflation may be easing. The stock market is rolling toward the close of a winning week, month and first half of the year.The S&P 500 was 0.9% higher in early trading. The Dow Jones Industrial Average was up 193 points, or 0.6%, at 34,316, as of 9:45 a.m. Eastern time, while the Nasdaq composite was 1.3% higher.The market has rallied through 2023 in part because the economy has been able to avoid a long-predicted recession. The job market in particular has remained resilient despite high interest rates that slow the economy in hopes of dragging down inflation. Not only that, Wall Street hopes inflation is cooling enough for the Federal Reserve to soon halt its hikes to rates.A report on Friday showed the measure of inflation that the Fed prefers to use eased in May. It also said growth in spending by consumers slowed by more than expected. If fewer dol...

Protesters check out all LGBTQ+ books at Rancho Penasquitos library

Published Fri, 07 Feb 2025 13:18:52 GMT

SAN DIEGO -- A protest over a San Diego library’s pride display resulted in the branch having to replace over a dozen LGBTQ+ books.  The two protestors claim the library should not have references to gender identity or sexual attraction.  However, the San Diego Public Library is standing its ground. The library says they are all about diversity, inclusion and empathy, saying everyone is welcome.  VIDEO: A ‘wave’ of pride ripples across Snapdragon Stadium “This is the first time I’ve had someone completely decimate a pride display in protest. It’s concerning and upsetting,” said Misty Jones, City of San Diego head librarian.  A pride backlash at the Rancho Penasquitos branch library took a new turn. It started when two people in the Penasquitos area checked out all 20 books at the pride display, but not to read them. One of them emailed the head librarian, Misty Jones, to express their disagreement. Jones said, “(They) said they felt having those types of b...

San Diego Padres ranked 9th 'most hated' MLB team: Twitter data

Published Fri, 07 Feb 2025 13:18:52 GMT

SAN DIEGO -- Warning: The context of this article may trigger the Friar faithful. Most sports fans would agree, there's nothing wrong with a little rivalry. For the San Diego Padres team, however, there may be more booing and heckling heard at away games compared to that of other MLB teams.That assumption is based on a new study by BetOnline, a sports betting platform, that analyzed two months worth of Twitter data to determine which MLB teams are the "most hated" in the league. Padres fans set new record for sellout games at Petco Park When compiling the data, the platform tracked negative sentiment tweets, hashtags, and direct keyword phrases about each team for a total of 60 days. Some examples of these negative comments included things like "Padres are overrated" and "I hate the Padres," among other phrases.BetOnline says over 100,000 tweets were tracked during the duration of the study.According to the Twitter data, the San Diego Padres are the 9th "most hated" team in the ML...

Tropical Storm Beatriz strengthens off Mexico’s Pacific coast

Published Fri, 07 Feb 2025 13:18:52 GMT

MEXICO CITY (AP) — Tropical Storm Beatriz strengthened off Mexico’s southern Pacific coast on Friday and was forecast to become a hurricane later in the day as it moves closer to the coast.Beatriz was about 70 miles (115 kilometers) south-southwest of Zihuatanejo on Friday morning and was moving northwest at 13 mph (20 kph) with sustained winds of 65 mph (100 kph), according to the United States National Hurricane Center.Forecasters said Beatriz could move near or over part of Mexico’s coast on Friday night and Saturday.A hurricane warning was in effect from Zihuatanejo to Cabo Corrientes. The storm was expected to slow its forward movement over the weekend and dump heavy rain as it scrapes along several southern Mexican states.Meanwhile, Hurricane Adrian continued to move deeper into the Pacific on Friday. The storm had 100 mph (155 kph) sustained winds and was about 445 miles (715 kilometers) south-southwest of the southern tip of Baja California on Friday morning. It was moving w...

Was your flight canceled due to bad weather? What you need to know about rebooking, refunds and more

Published Fri, 07 Feb 2025 13:18:52 GMT

WASHINGTON (AP) — Hundreds of thousands of air travelers are facing potential flight cancellations and delays this weekend, the peak of summer travel, as thunderstorms threaten the East Coast, West Coast and points in between.Nearly 270 U.S. flights were canceled early Friday, according to flight tracking service FlightAware, and more than 1,100 U.S. flights were delayed. It’s been a terrible week for United Airlines and it is leading all major domestic carriers again Friday both canceled and delayed flights. Staying calm — and knowing your rights — can go a long way if your flight is canceled, experts say. Here’s some of their advice for dealing with a flight cancellation:MY FLIGHT WAS CANCELED. WHAT NEXT?If you still want to get to your destination, most airlines will rebook you for free on the next available flight as long as it has seats, according to the U.S. Department of Transportation.If you want to cancel the trip, you are entitled to a full refund, even if you bought...

Company executives urge Europe to rethink its world-leading AI rules

Published Fri, 07 Feb 2025 13:18:52 GMT

LONDON (AP) — More than 150 executives are urging the European Union to rethink the world’s most comprehensive rules for artificial intelligence, saying Friday that upcoming regulations will make it harder for companies in Europe to compete with rivals overseas, especially when it comes to the technology behind systems like ChatGPT.Officials at companies from French planemaker Airbus and carmaker Renault to Dutch beer giant Heineken signed an open letter to EU leaders saying the 27-nation bloc’s groundbreaking legislation may put shackles on the development of generative AI. That technology gives popular AI chatbots like ChatGPT the power to generate text, images, video and audio that resemble human work.“Such regulation could lead to highly innovative companies moving their activities abroad ” and investors withdrawing their money from AI development in Europe, the letter said. “The result would be a critical productivity gap between the two sides of the Atlantic....

Stock market today: Wall Street opens higher after inflation shows signs of easing

Published Fri, 07 Feb 2025 13:18:52 GMT

NEW YORK (AP) — Wall Street is rising again after reports suggested pressure on inflation may be easing across the country. The stock market is heading for the close of a winning week, month and first half of the year. The S&P 500 was 0.8% higher in early trading Friday. The Dow Jones Industrial Average was up 214 points, or 0.6%, while the Nasdaq composite was up 1.1%. The market has rallied through 2023 in part because the economy has been able to avoid a long-predicted recession. Wall Street hopes inflation is easing enough for the Federal Reserve to soon halt its hikes to rates. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.Wall Street pointed toward gains Friday ahead of closely-watched inflation data that could impact the Federal Reserve’s next interest rate decision.Futures for the Dow Jones Industrial Average rose 0.3% before the bell and the S&P 500 gained 0.4%. The government’s consumer spending report that will be released before the...

Pakistan gets a lifeline from the IMF with a new $3 billion bailout to help avoid default

Published Fri, 07 Feb 2025 13:18:52 GMT

ISLAMABAD (AP) — The International Monetary Fund has agreed to provide $3 billion to Pakistan in badly needed relief to help bail out the impoverished country’s ailing economy. The nine-month agreement must be approved by the IMF’s Executive Board, which is expected to make a final decision in mid-July, a top IMF official, Nathan Porter, said in a statement late Thursday.The announcement followed talks earlier this week between Pakistani Prime Minister Shahbaz Sharif and Kristalina Georgieva, the managing director of the IMF, who both suggested that the sides were close to reaching an agreement.Porter, the IMF’s mission chief to Islamabad, said Pakistan’s economy has faced several heavy blows recently, such as the devastating floods last summer that killed 1,739 people, caused $30 billion in damage and impacted millions of Pakistanis. The country was also hit by an international commodity price spike in the wake of Russia’s war in Ukraine. Porter said despite the authorities’ ...

Parents of transgender youth are suing to block Georgia’s gender-affirming care ban

Published Fri, 07 Feb 2025 13:18:52 GMT

ATLANTA (AP) — Parents of four transgender children have filed a lawsuit challenging a Georgia law set to take effect Saturday that bans most gender-affirming surgeries and hormone replacement therapies for transgender people under 18, their lawyers said.The lawsuit, which the lawyers said was filed Thursday night, asks a judge to immediately prevent enforcement of the law while the legal challenge plays out.The law passed along party lines this year by the Republican-majority General Assembly and signed by Republican Gov. Brian Kemp was hotly contested, with Democrats, parents and medical providers making impassioned arguments against it. Georgia is one of at least 20 states that have enacted laws that restrict or ban gender-affirming medical care for transgender minors, with most currently facing lawsuits.The Georgia law, Senate Bill 140, does allow doctors to prescribe puberty-blocking medications, and it allows minors who are already receiving hormone therapy to continue.Support...

The key players in last weekend’s armed rebellion in Russia

Published Fri, 07 Feb 2025 13:18:52 GMT

The key players in last weekend’s armed rebellion by Russian mercenary chief Yevgeny Prigozhin:YEVGENY PRIGOZHINPrigozhin, 62, owed his position and his fortune to links with President Vladimir Putin. The former convict who became a St. Petersburg restaurateur was dubbed “Putin’s chef” for lucrative Kremlin catering contracts. He expanded into other areas and founded the Wagner Group — a private military contractor that was active in Syria and several African countries. The Kremlin relied on Wagner to help shore up its forces in Ukraine after the regular military suffered humiliating setbacks there. Wagner spearheaded attacks on the eastern Ukrainian city of Bakhmut and captured it after a long and bloody battle, during which Prigozhin complained of not enough Defense Ministry support.Prigozhin launched his rebellion after the Defense Ministry demanded that all private contractors come under its authority by July 1, a move that would make him lose control over Wagner. He...