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Stock market today: Wall Street subdued ahead of update on US consumer inflation

Published Fri, 07 Feb 2025 14:19:30 GMT

Wall Street pointed slightly lower early Wednesday ahead of a key report on U.S. inflation that could sway the Federal Reserve’s upcoming decision on interest rates. Futures for the Dow Jones Industrial Average edged 0.1% lower before the bell, while the S&P 500 are essentially unchanged.Economists expect Wednesday’s report from the Labor Department to show that consumer prices were broadly 3.6% higher last month than a year earlier. That’s up from July’s 3.2% and June’s 3%, which was the lowest in more than two years.Fed policymakers remain concerned about inflation, even though it has fallen considerably from highs above 9%. The Fed’s interest rate hiking campaign, which has raised borrowing rates to the highest level in 22 years, was supposed to cool the economy and job market. But the labor market remains tight and consumer spending fairly strong. The Fed’s next two-day meeting is scheduled to wrap up next Wednesday, when policy make...

Sharply higher gas prices pushed up inflation in August, yet underlying price measures cooled

Published Fri, 07 Feb 2025 14:19:30 GMT

WASHINGTON (AP) — A spike in gas prices pushed up inflation in August, yet most other costs rose at a more modest pace, evidence that consumer price increases overall are still cooling. In a set of conflicting data on Wednesday, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-called core prices rose 4.3%, down from 4.7% in July and the smallest increase in nearly two years. That remains far from the Federal Reserve’s 2% target.Despite the seemingly divergent figures, the decline in the core measure could add to optimism that inflation is coming under control. The Federal Reserve closely tracks core prices because they are seen as a better indicator of future inflation trends. Wednesday’s figures also make it more likely the Fed will skip an interest rate hike at its meeting next week. While more expensive gas could elevate inflation this month a...

Toll from devastating floods in Libyan city passes 5,100 dead, authorities struggle to get in aid

Published Fri, 07 Feb 2025 14:19:30 GMT

DERNA, Libya (AP) — The death toll from flooding that hit the eastern Libyan city of Derna reached more than 5,100 and was expected to rise further, a local health official said Wednesday, as authorities struggled to get aid to the coastal city where thousands remained missing and tens of thousands were homeless.Aid workers who managed to reach the city, which was cut off on Sunday night when flash floods washed away most of the access roads, described devastation in Derna’s center. Search and rescue teams combed shattered apartment buildings for bodies and retrieved the dead floating offshore in the Mediterranean Sea. “Bodies are everywhere, inside houses, in the streets, at sea. Wherever you go, you find dead men, women, and children,” Emad al-Falah, an aid worker from Benghazi, said over the phone from Derna. “Entire families were lost.”Mediterranean storm Daniel caused deadly flooding in many towns of eastern Libya, but the worst-hit was Derna. As the storm pounded the coa...

Police release image of motorcyclist involved in Regent Park hit-and-run

Published Fri, 07 Feb 2025 14:19:30 GMT

Toronto police have released the image of a motorcyclist involved in a hit-and-run in Regent Park last month.Officers were called to Dundas Street East at River Street just before midnight on Aug. 25 to reports of a collision between a motorcycle and a cyclist.It’s alleged that a black/silver motorcycle was driving eastbound in the bike lanes along Dundas St. when they struck a cyclist in the bike lane.The cyclist suffered serious injuries in the crash and the motorcyclist fled the scene eastbound on River.The investigation to identify the motorcyclist is still ongoing. 

What can the Conservative convention tell us about the future of the party?

Published Fri, 07 Feb 2025 14:19:30 GMT

In today’s Big Story Podcast, CPC leader Pierre Poilievre spent the weekend hammering a message of affordability and economic focus at his party’s convention in Quebec. Most of the delegates were right there with him—but not all of them.After a great summer that saw them surge past the federal Liberals in the polls, the Conservatives are aiming to stay on track, stay unified and form government the next time Canada goes to the polls. To do that they’ll have to avoid the kind of divisive, “culture-war” policies championed by some of their extremely conservative base. However, some motions on party policy from the convention do exactly that — like limiting healthcare to transgender youth.Stephanie Taylor is a Parliament Hill reporter for the Canadian Press. She said some conservative delegates want Poilievre to not just talk about conservative economic policies, but so-called “cultural” policies as well.“A goal like unity is pretty easy to get it is pretty easy to ac...

2 men stabbed multiple times, 1 fatally, inside apartment on Northwest Side

Published Fri, 07 Feb 2025 14:19:30 GMT

CHICAGO — Two men were stabbed multiple times, one fatally, on the city's Northwest Side.The stabbing happened around 10:50 p.m. Tuesday in the 3000 block of North Elston Avenue. Police said officers responded to a person stabbed and found two men inside a second-floor apartment with stab wounds to the body.One man was transported to Advocate Illinois Masonic Medical Center with multiple stab wounds to the body and pronounced dead. A 28-year-old man was transported to the same hospital in critical condition with multiple stab wounds to the body. Police search for 2 men who allegedly burglarized Brighton Park restaurant According to police, the circumstances surrounding the incident are unknown at this time.Area Five Detectives are investigating.

Taylor Swift and her 'Anti-Hero' top MTV VMAs in a show dominated by hip-hop, K-pop and Latin jams

Published Fri, 07 Feb 2025 14:19:30 GMT

Taylor Swift took home the top prize at the 2023 MTV Video Music Awards for her “Anti-Hero” music video on a night full of surprises.“This is unbelievable. The fact that this is a fan-voted award means so much to me,” Swift said in her acceptance speech. “I can't believe it was a year ago that I announced the ‘Midnights’ album.”The show, held at the Prudential Center in Newark, New Jersey, was Swift's from nearly the beginning. The night's first presenters were none other than NSYNC, who reunited to hand the best pop video award to Swift.In coordinating suits, Justin Timberlake, Joey Fatone, Lance Bass, Chris Kirkpatrick and JC Chasez shared the stage with Swift. Bass handed her a friendship bracelet, just as fans do at the superstar’s shows. “You’re pop personified,” she told the group.The night’s top nominee later returned to the stage to pick up the song of the year trophy for “Anti-Hero” and also the best direction award.Swift took home nine of the 11 awards she was up for, incl...

Fallen CFD Lt. Kevin Ward to be laid to rest Wednesday

Published Fri, 07 Feb 2025 14:19:30 GMT

CHICAGO — A fallen Chicago firefighter will be laid to rest Wednesday.The funeral service for Lt. Kevin Ward will begin at 11 a.m. at the The Fourth Presbyterian Church of Chicago, located at 126 East Chestnut Street, just off Michigan Avenue.Ward was one of three firefighters injured in a blaze Aug. 11 in the 8300 block of West Balmoral in the city's Norwood Park neighborhood. He died days later.Ward, 59, joined the department in 1996 and worked out of Truck 9, located in the 5300 block of North Cumberland. CFD lieutenant dies following Northwest Side fire earlier this month The Chicago Fire Department will fly flags at half-staff until sunset Wednesday to honor his service.Ward’s death is the third line-of-duty death the department has dealt with in 2023. In the same week in April, CFD lost Jermaine Pelt, 49, and Jan Tchoryk, 55, in separate fires.

Escaped murderer Danelo Cavalcante captured

Published Fri, 07 Feb 2025 14:19:30 GMT

POTTSTOWN, Pa. (AP) — An escaped Pennsylvania murderer was captured Wednesday after eluding hundreds of searchers for two weeks by hiding out in wooded areas, breaking into suburban homes for food, fleeing under gunfire with a rifle pilfered from a garage, stealing a vehicle and changing his appearance, authorities said.State police announced Danelo Souza Cavalcante’s capture on social media on Wednesday, as the search entered its 14th day, and planned a news conference announcing details for 9:30 a.m. Cavalcante's condition wasn't released.The end to the search for Cavalcante, 34, unfolded just beyond Philadelphia’s heavily populated suburbs, in an area of woods, rolling farmland and a county park. The search forced schools to close right at the start of the academic year, led to warnings for homeowners to lock their doors, and blocked roads over the busy Labor Day weekend.Overnight into Wednesday, heavily armed law enforcement officers searched for the fugitive...

Can I get the updated COVID vaccine for free?

Published Fri, 07 Feb 2025 14:19:30 GMT

(WJW) – A newly formulated COVID-19 vaccine should be available at pharmacies and doctor offices this week, but how much will it cost?The list price of a dose of each shot is $120 to $130, according to the manufacturers, but you may not end up paying that.For most Americans with private insurance, Medicare or Medicaid, the vaccine will be free. The Centers for Disease Control and Prevention also has a program that provides free vaccines to uninsured and underinsured Americans. The so-called Bridge Access Program collaborates with pharmacies, local health centers and local healthcare providers to provide free access to the vaccine. The program is temporary, however, and is currently slated to stop giving out free vaccines at the end of December 2024.What is this new vaccine?The latest formulation is designed to target the highly infectious XBB.1.5, which spread rapidly earlier this year and earned the unofficial nickname "The Kraken." Unlike previous vaccines, this one is monovalent ...