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Wall Street dips, snaps win streak after weak economic data

Published Wed, 25 Dec 2024 06:11:14 GMT

NEW YORK (AP) — Stocks fell on Wall Street Tuesday after reports on the economy came in weaker than expected. The S&P 500 dropped 23.91 points, or 0.6%, to 4,100.60 to break a four-day winning streak. The Dow Jones Industrial Average fell 198.77, or 0.6%, to 33,402.38, and the Nasdaq composite sank 63.13, or 0.5%, to 12,126.33. Investors are still split on whether the U.S. economy will fall into a recession and how badly corporate profits are set to drop. The biggest question remains what the Federal Reserve will do next with interest rates after hiking them furiously over the last year to get high inflation under control. The reports on job openings and factory orders released Tuesday may have heightened recession fears. But they may also give the Fed reason to hold rates steady at its next meeting, for the first time in more than a year, offering a possible upside for markets.One report showed employers advertised 9.9 million job openings in February, a sharper fall-off than e...

S&P/TSX composite largely unchanged Tuesday, U.S. markets move lower

Published Wed, 25 Dec 2024 06:11:14 GMT

TORONTO — Canada’s main stock index was largely unchanged Tuesday as strength in telecom, technology, utilities and battery metals helped offset weakness in other sectors, while U.S. markets moved lower. The S&P/TSX composite index was down 2.52 points at 20,275.76.In New York, the Dow Jones industrial average was down 198.77 points at 33,402.38.The S&P 500 index was down 23.91 points at 4,100.60, while the Nasdaq composite was down 63.12 points at 12,126.33.Tuesday’s market was driven by recession worries, said Jules Boudreau, senior economist at Mackenzie Investments. “Bond yields are down and defensive stocks are outperforming, especially in the U.S. but also in Canada,” he said. JP Morgan Chase CEO Jamie Dimon said Tuesday in a letter to shareholders that the banking crisis isn’t over, and its repercussions will last for years. He also said the odds of a recession have increased. Meanwhile, U.S. job openings decreased in February, though Boudreau noted that q...

Pet dog dies from bird flu after chewing on infected goose in GTA

Published Wed, 25 Dec 2024 06:11:14 GMT

A pet dog that contracted avian influenza after chewing on an infected goose in the Greater Toronto Area (GTA) has died.In a joint statement, the Public Health Agency of Canada and the Canadian Food Inspection Agency (CFIA) said that the dog tested positive for the highly pathogenic avian influenza, known as bird flu, on April 1.Both agencies confirmed that the dog contracted the virus after chewing on an infected goose in Oshawa and later died after showing clinical signs of avian influenza.“The necropsy was completed on April 3, 2023, and showed respiratory system involvement. Further testing is underway. It is the only case of its kind in Canada,” the joint statement read.RELATED: Hundreds of birds reported dead across GTHA, carcasses being tested for avian influenzaThe number of reported cases of avian influenza in non-avian species, such as cats and dogs, remains low despite the virus causing large global outbreaks over the last few years. No domestically acquired h...

Burlington shooting sends 1 to hospital with leg wound

Published Wed, 25 Dec 2024 06:11:14 GMT

One person has serious injuries after being shot in the leg in Burlington on Tuesday afternoon. Halton regional police say it happened in the Guelph Line and New Street area at around 1:50 p.m.Investigators have not revealed the gender of age of the victim and no suspect description is currently available. Police stress there is no ongoing risk to the public safety, but say nearby residents can expect to see a significant police presence in the area as the investigation unfolds.

Mexico asks China’s help in curbing production of fentanyl

Published Wed, 25 Dec 2024 06:11:14 GMT

MEXICO CITY (AP) — Mexico’s president asked his Chinese counterpart for help Tuesday in halting chemicals from China used by Mexican drug dealers to illegally produce fentanyl, while also complaining of “rude” U.S. pressure to curb the drug trade.President Andrés Manuel López Obrador has previously said that fentanyl is America’s problem and is caused by “a lack of hugs” in U.S. families. On Tuesday he doubled down on those themes, but went further, venting in a letter to Chinese President Xi Jinping about “rude threats” from U.S. legislators over the drug trade.López Obrador complained about calls in the United States to designate Mexican drug gangs as terrorist organizations. Some Republicans have said they favor using the U.S. military to crack down on the Mexican cartels.“Unjustly, they are blaming us for problems that in large measure have to do with their loss of values, their welfare crisis,” López Obrador wrote to Xi in the letter published Tuesday. “These positions are in t...

Trump in court reckoning: What happened and what’s ahead

Published Wed, 25 Dec 2024 06:11:14 GMT

Donald Trump sat solemnly in a New York City courtroom Tuesday as prosecutors charged him with 34 felony counts of falsifying business records in a hush money investigation. The first former president to be charged with crimes pleaded not guilty on all counts.Trump has denied any wrongdoing, repeatedly assailed the investigation, called the indictment “political persecution” and predicted it would damage Democrats in 2024. Trump’s lawyers have said the former Republican president “did not commit any crime” and they will “vigorously fight this political prosecution in court.”A look at what happened Tuesday:WHAT HAPPENED AFTER THE SURRENDER? Trump was booked. Before computers, information on every criminal suspect would be written down in a big book kept by court officials. Now, it’s all computerized, but the process is largely the same.Court officers take down the accused’s full name, age, birthdate, height and weight. They check for any outstanding warrants. ...

Thunderstorms blow into Chicago area

Published Wed, 25 Dec 2024 06:11:14 GMT

CHICAGO — Severe weather blew through the Chicago area and parts of Illinois Tuesday.Strong winds, hail and rain were reported throughout the area. Interactive Radar: Track showers and storm here A powerhouse northbound warm front is going to sweep into the Chicago area Tuesday evening introducing warm and humid air. Temps will be surging into the low 70s across our southern suburbs Tuesday while holding in the 40s as east winds blow into areas along Lake Michigan Tuesday from Chicago north. By and during tonight (Tuesday night), the warm humid air is to win out--taking control of the weather scene here. At times it's not raining, we'll actually be able to throw open the windows and bask in the warm air.Latest warnings and watches from the National Weather Service.It's the warm, humid air mass which threatens active and possible severe thunderstorms.A second severe weather potential comes together Wednesday as a cold front ploughs into the warm, humid air in place. Storms may occ...

Ex-Oklahoma jailers sentenced to probation in 'Baby Shark' torture case

Published Wed, 25 Dec 2024 06:11:14 GMT

OKLAHOMA CITY (KFOR) - The former Oklahoma County jail guards accused of torturing inmates with the children's song, "Baby Shark" have been sentenced to probation and fines after pleading no contest to several of the charges.In 2020, former detention officers Christian Miles and Gregory Butler, and their supervisor, Christopher Hendershott, were charged with four counts of cruelty to prisoners, four counts of corporal punishment to an inmate, and four counts of conspiracy.Prosecutors said that in 2019, Miles and Butler pulled at least five inmates out of their cells one at a time late at night to be handcuffed, forced them into a "standing stress position," and played "Baby Shark" on repeat at a loud volume for hours on end. Drag queen Heklina found dead in London Court documents state Miles and Butler used the booth to discipline inmates “and teach them a lesson because they felt that disciplinary action within the Detention Center was not working in correcting the behavior of th...

New autonomous vehicle company en route for testing in Austin

Published Wed, 25 Dec 2024 06:11:14 GMT

AUSTIN (KXAN) -- As autonomous vehicle technology advances, a new company will soon begin piloting its latest prototype here in Austin.Autonomous vehicle company Waymo will begin testing its fifth generation driver, called the Jaguar I-Pace, throughout central and east Austin. Pilot testing locations include downtown, along Rainey Street, within the Market District, near the State Capitol and in the Clarksville, Bouldin Creek and Holly neighborhoods, per a company news release.Currently, the company operates ride-hailing services in San Francisco and Phoenix. While there aren't "immediate plans" to launch in Austin, Waymo officials said "testing in the city will help us improve our underlying technology everywhere we drive." AV NEWS: General Motors' Cruise to roll out autonomous robotaxis in Austin this spring "A lot of the experiences you encounter on Austin's roads will help us improve the Waymo Driver everywhere we operate, both today and in the ...

Texas House Committee considers teacher pay raises

Published Wed, 25 Dec 2024 06:11:14 GMT

AUSTIN (Nexstar) — The Public Education Committee is considering two different bills on Tuesday that aim to increase retention in Texas public schools, as the state struggles with teachers leaving the profession in droves. IN-DEPTH: Why are Texas teachers quitting and what are the solutions? Two of the bills being considered are part of Speaker Dade Phelan's education priority bills this session.House Bill 11 — authored by Rep Harold Dutton (D-Houston) — attempts to codify many of the recommendations made by the Teacher Vacancy Task Force. The group consisted of more than 40 public school teachers and administrators, who spent more than a year looking at why teachers are quitting and retiring in order to identify possible solutions. One of the task force's recommendations that Dutton included in his bill is an increase in the state’s per-pupil funding – or basic allotment – from $6,160 to $6,210. MORE: 6 key bills on school safety and funding The state would also adopt a new t...