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Stock market today: Wall Street holds a bit steadier as it closes out an ugly week

Published Mon, 16 Dec 2024 20:58:11 GMT

NEW YORK (AP) — Wall Street’s ugly week is getting a bit of a reprieve, and stocks are holding steadier on Friday, but it’s still heading for its worst week in six months.The S&P 500 was 0.2% higher in early trading, coming off an ugly slide caused by the stock market’s growing understanding that interest rates likely won’t come down much anytime soon. The Dow Jones Industrial Average was down 3 points, or less than 0.1%, at 34,066, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% higher.Pressure has built on Wall Street as yields in the bond market climb to their highest levels in more than a decade. They’ve been rising for months and accelerated this week after the Federal Reserve indicated it’s unlikely to cut its main interest rate by as much in 2024 as investors had hoped. The federal funds rate is at its highest level since 2001, which grinds down on investment prices as it undercuts high inflation.Yields were easing a bit Friday, which reduced the pressure ...

Netanyahu tells UN that Israel is ‘at the cusp’ of an historic agreement with Saudi Arabia

Published Mon, 16 Dec 2024 20:58:11 GMT

UNITED NATIONS (AP) — Israeli Prime Minister Benjamin Netanyahu says Israel is “at the cusp” of a historic breakthrough leading to a peace agreement with Saudi Arabia.In an address to the U.N. General Assembly on Friday, Netanyahu said “peace between Israel and Saudi Arabia will truly create a new Middle East.”The U.S. has been seeking to broker an agreement in which Saudi Arabia would normalize relations with Israel in exchange for a U.S. defense pact, aid in developing a civilian nuclear program and progress toward creating a Palestinian state.Saudi Arabia’s Crown Prince Mohammed bin Salman said in an interview with Fox News this week that the two sides are getting closer to an agreement. But any such deal would face significant obstacles. The Saudis are believed to be pushing for a major step toward peace with the Palestinians, a hard sell for Netanyahu’s government, which is the most hawkish in Israel’s history.The Associated Press

New Jersey Sen. Menendez and his wife are indicted on bribery charges

Published Mon, 16 Dec 2024 20:58:11 GMT

WASHINGTON (AP) — U.S. Sen. Bob Menendez of New Jersey and his wife have been indicted on charges of bribery.Federal prosecutors on Friday announced the charges against the 69-year-old Democrat nearly six years after an earlier criminal case against him ended with a deadlocked jury. The latest indictment is unrelated to the earlier charges that alleged Menendez accepted lavish gifts to pressure government officials on behalf of a Florida doctor.The Senate Historical Office says Menendez appears to be the first sitting senator in U.S. history to have been indicted on two unrelated criminal allegations. Menendez faces reelection next year in a bid to extend his three-decade career in Washington, and as Democrats hold a narrow majority in the Senate.A lawyer for Menendez’s wife hasn’t responded to a message seeking comment. Messages were left for Menendez’s Senate spokesperson and his political consultant.The first time Menendez was indicted, he had been accused of using hi...

California bishop acquitted in first United Methodist court trial of its kind in nearly a century

Published Mon, 16 Dec 2024 20:58:11 GMT

A United Methodist Church court acquitted a California bishop Friday of all charges in the first trial of one of the church’s bishops in nearly a century.Bishop Minerva Carcaño, the first Latina bishop in the denomination and a prominent voice on behalf of immigrants, faced four charges of violating church law. They were for alleged harassment, fiscal malfeasance, disobedience to the order and discipline of the UMC and the undermining of another pastor’s ministry. The jury reached its verdict after a few hours of deliberation Thursday evening. It was announced Friday morning.Among other particulars, the prosecution alleged Carcaño retaliated against clergy and staff who challenged her decisions and that she took actions or allowed them to be taken while sidestepping committees and other staff that should have been consulted about decisions.The prosecution also said she benefited from her use of a San Francisco parsonage, which was renovated through a church-development fund, as a se...

Parents who want Youngkin’s transgender policies enacted sue the Virginia Beach school board

Published Mon, 16 Dec 2024 20:58:11 GMT

Two Virginia Beach parents have filed a lawsuit seeking to force their local school system to adopt Republican Virginia Gov. Glenn Youngkin’s new model policies for the treatment of transgender students. The lawsuit, filed on the parents’ behalf by the conservative-leaning Cooper and Kirk law firm, alleges that local school boards must adopt the policies adopted earlier this year by the Youngkin administration. Those policies roll back many accommodations for transgender students urged by the previous Democratic administration. Last month, the Virginia Beach School Board narrowly voted down a proposal that would have adopted the Youngkin administration’s policies.School boards across the state have taken varied approaches to the issue. Some school boards with conservative majorities have adopted the policies. More liberal jurisdictions, especially in northern Virginia, have balked.Youngkin and Republican Attorney General Jason Miyares have said school boards must adopt t...

Bulgaria to purchase US Stryker combat vehicles and related equipment

Published Mon, 16 Dec 2024 20:58:11 GMT

SOFIA, Bulgaria (AP) — Bulgaria’s government has approved the purchase of U.S.-made Stryker combat vehicles to modernize the country’s land forces and bring them in line with NATO standards.The decision, announced Friday by the government’s press office, followed the approval by the U.S. State Department of the sale of 183 Stryker vehicles and related gear to Bulgaria for an estimated cost of $1.5 billion.“The aim of the project is for Bulgaria to achieve interoperability with the NATO allies, and also to acquire and maintain capabilities for the country’s defense independently, in a joint operation and in the collective defense system, as well as to participate in allied operations outside the country’s territory,” the government statement said.Bulgaria, which is located on NATO’s eastern flank, has intensified its military modernization by replacing its outdated Soviet-built weapons systems.In the aftermath of Russia’s full-scale invasion of Ukraine, Bulgarian Defense ...

Shimano recalls 760,000 bike cranksets over crash hazard following several injury reports

Published Mon, 16 Dec 2024 20:58:11 GMT

NEW YORK (AP) — Cycling company Shimano is recalling some 760,000 bike cranksets in the U.S. and Canada due to a crash hazard that has resulted in several reported injuries.According to a Thursday notice from the U.S. Consumer Product Safety Commission, the now-recalled crank parts can separate and break, risking crashes. More than 4,500 incidents of the cranksets separating and six injuries have been reported to date — including bone fractures, joint displacement and lacerations.The recall impacts Shimano Ultegra FC-6800, Dura-Ace FC-9000, Ultegra FC-R8000, Dura-Ace FC-R9100 and FC-R9100P 11-Speed Bonded Hollowtech Road Cranksets that were manufactured in Japan prior to July 2019. The cranksets were sold both individually and on bicycles sold by other companies, including Trek and Specialized, regulators said.Consumers can identify the recalled crank parts by their production date and two-letter codes. In the U.S., where about 680,000 cranksets are under recall, the products were s...

Leaders of Syria and China announce strategic partnership as part of Asian Games diplomacy

Published Mon, 16 Dec 2024 20:58:11 GMT

BEIJING (AP) — China and Syria announced the formation of a strategic partnership on Friday as Chinese leader Xi Jinping kicked off a series of diplomatic meetings ahead of the upcoming Asian Games.Xi met Syrian President Bashar Assad in the southern Chinese city of Hangzhou, which is hosting the 15-day sports competition. “In the face of the unstable and uncertain international situation, China is willing to work with Syria to firmly support each other … and jointly safeguard international fairness and justice,” Xi said in a video clip posted online by state broadcaster CCTV.Assad’s visit parallels in some ways that of Russian President Vladimir Putin last year for the opening ceremony of the Beijing Winter Olympics. Both leaders are virtual pariahs in the West but welcomed by China as it tries to expand its global influence and promote an alternative to the U.S.-led international order.The Syrian leader will attend the Asian Games opening ceremony on Saturday night alo...

Authorities search for suspect wanted in killing who was mistakenly released from Indianapolis jail

Published Mon, 16 Dec 2024 20:58:11 GMT

INDIANAPOLIS (AP) — A man wanted for a 2021 killing in Minnesota was mistakenly released from jail in Indianapolis last week and authorities are now offering a reward of up to $10,000 as they continue searching for him.Kevin Mason, 28, was arrested in Indianapolis on Sept. 11 but a preliminary review found he was released Sept. 13 due to a faulty records review by clerks with the Marion County Sheriff’s Office, officials said.On Thursday, the sheriff’s office announced that the U.S. Marshals Office was offering a reward of up to $10,000 for information leading to Mason’s arrest.“We will not stop and we will not sleep until he is back in custody,” Col. James Martin with the sheriff’s office said during Thursday’s news conference.Officials said more than 300 officers from local departments and the U.S. Marshals Service took part in manhunt overnight Wednesday in Indianapolis and other jurisdictions for Mason, The Indianapolis Star reported.Officials waited six days b...

Heads-up GO riders: No train service on Lakeshore East line Friday night into weekend

Published Mon, 16 Dec 2024 20:58:11 GMT

For those planning to head into the city this weekend, keep in mind that GO train service on the Lakeshore East line won’t be available due to “important maintenance work.”An update posted on the GO website says trains won’t be running starting at 10 p.m. on Friday until end of service on Sunday.“These temporary service changes are critical for track maintenance near Durham College Oshawa GO, key infrastructure updates for East Harbour Transit Hub, Eglinton GO and further progress on adding a fourth track along the Lakeshore East Line,” Metrolinx says.The provincial agency says most of the train service will be replaced with shuttle bus service but that riders may experience longer than normal travel times due to capacity issues.From Friday night and over the weekend, some of the buses will only stop at Durham College Oshawa, Whitby, Ajax, and Pickering GO stations and then continue express to Union Station.GO riders travelling to and from Union S...