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Stock market today: Worries about a possible U.S. default and inflation weigh on Wall Street

Published Fri, 27 Dec 2024 11:34:16 GMT

NEW YORK (AP) — Stocks kept falling on Wall Street Wednesday under the weight of concerns about the U.S. creeping closer to a default on its debt while inflation keeps squeezing the economy.The S&P 500 was 0.8% lower in afternoon trading. The White House and Congress are continuing negotiations on avoiding a disastrous default on U.S. debt. The Dow Jones Industrial Average was down 252 points, or 0.8%, at 32,8033, as of 2:17 p.m. Eastern time, while the Nasdaq composite was 0.8% lower.Other markets around the world were hit even harder as discouraging figures piled up on the economy. Stock indexes tumbled 1.7% in London, 1.9% in Frankfurt and 1.6% in Hong Kong.Inflation in the United Kingdom remains worse than expected, raising worries that the Bank of England may keep hiking interest rates and squeezing its economy. In Germany, business confidence fell in Europe’s largest economy. And in China, worries remain about a weaker-than-hoped reopening from COVID restrictions as tensio...

Tina Turner, Queen of Rock ‘n’ Roll, dead at 83

Published Fri, 27 Dec 2024 11:34:16 GMT

Tina Turner has died at the age of 83, according to multiple reports.“Tina Turner, the ‘Queen of Rock ‘n Roll,’ has died peacefully today at the age of 83 after a long illness in her home in Küsnacht near Zurich, Switzerland,” read a statement from her representatives.Turner disclosed in her 2018 memoir My Love Story that she had suffered from life-threatening illnesses.Turner is one of the best-selling recording artists of all time, winning 12 Grammys, including What’s Love Got to Do with It, which won the Grammy Award for Record of the Year in 1984.She was recognized for her electric on-stage presence and persona, with several other hits, including The Best, Proud Mary and Private Dancer.The music legend started her career alongside ex-husband Ike Turner with the classic song River Deep and Mountain High, among others.Turner previously held a Guinness World Record for the largest paying audience (180,000 in 1988) for a solo performer.This is a d...

Student arrested in shooting death of schoolmate outside Pittsburgh school

Published Fri, 27 Dec 2024 11:34:16 GMT

PITTSBURGH (AP) — A student was taken into custody in the shooting death of another student early Wednesday just outside a school in Pittsburgh shortly before classes were due to start, police said. The shooting happened just before 7:30 a.m. by the front steps of Oliver Citywide Academy, police said. Officers found the victim with gunshot wounds in front of the school and gave first aid, Major Crimes Commander Richard Ford told reporters at the scene.An officer saw another student running from the school with a gun. The student was arrested and police recovered a gun, Ford said. The victim was taken to a hospital in critical condition and later died, he said. No other injuries were reported.Ford said the students were minors, but didn’t specify their ages or release their names. Oliver Citywide Academy is a full-time special education center serving grades 3-12, according to the city school district’s website. It wasn’t immediately clear what prompted the shooting.Most studen...

Who is the head of the Russian mercenary group bashing the military’s role in Ukraine?

Published Fri, 27 Dec 2024 11:34:16 GMT

The head of the Russian private military contractor Wagner returned to a familiar theme this week — bashing the country’s military leadership for failures in the war in Ukraine. That ‘s something only a select few can do publicly without drawing retribution from the Kremlin.The comments by Yevgeny Prigozhin underscored his long-running feud with the Defense Ministry.This time, however, they came as Moscow could boast of a rare, badly needed victory in the 15-month war in Ukraine, when Prigozhin and his fighters raised a Russian flag in the eastern city of Bakhmut after a long and bloody battle.He turned that moment of triumph into an opportunity just days later to moan about Russian failures in Ukraine.A look at the 61-year-old Prigozhin and Wagner’s role in the war: WHAT DID PRIGOZHIN SAY?Using blunt and coarse language in an almost 80-minute video interview Tuesday to a pro-Kremlin political strategist, Prigozhin said that “somehow nothing is working out for us” in Ukr...

A June pause in rate hikes would be a close call for Fed officials, minutes of last meeting show

Published Fri, 27 Dec 2024 11:34:16 GMT

WASHINGTON (AP) — Federal Reserve officials were divided earlier this month on whether to pause their interest rate hikes at their upcoming meeting in June, according to the minutes of their May 2-3 meeting released Wednesday.“Several (policymakers) noted if the economy evolved along the lines of their current outlooks, then further policy firming after this meeting may not be necessary” — Fed parlance for a pause — the minutes said. At the same time, “some” officials said that the persistence of high inflation meant that “additional (rate hikes) would likely be warranted at future meetings.”Yet in the language used in the minutes, “several” is considered to be more than “some,” suggesting that those favoring a pause may have the upper hand. In addition, Chair Jerome Powell and the officials closest to him have signaled in speeches over the past week that they’re likely to support a pause in rate hikes at their next meeting in mid-June.The Fed raises its key rate to lift the c...

Officials give overview of re-entry plan for Hay River, N.W.T., as wildfire burns

Published Fri, 27 Dec 2024 11:34:16 GMT

HAY RIVER, N.W.T. — Officials from the town of Hay River revealed their plan to eventually reopen the Northwest Territories community Tuesday night as a wildfire continues to burn on the nearby K’atl’odeeche First Nation reserve.Around 3,500 residents from the town and reserve were forced to leave their homes on May 14. Glenn Smith, Hay River’s senior administrative officer, said getting the fire under control is a key condition for allowing people to return. He said the fire will be active throughout the summer and weather will affect its severity and the risk it poses.“We know that everyone wants to come home. We know that this has been extremely stressful on so many levels and we are doing everything we can to get you back home as soon as it is safe,” Mayor Kandis Jameson said. “We had a safe evacuation and we are not going to risk bringing people back too soon.”Smith said re-entry will begin with the restoration of essential services. Th...

Police: Man who said he was headed to CIA arrested at nearby preschool with AK-47 rifle in car

Published Fri, 27 Dec 2024 11:34:16 GMT

McLEAN, Va. (AP) — A Florida man who police say had an AK-47 rifle in his car was arrested outside a northern Virginia preschool after he told officers he was headed to CIA headquarters, police said Wednesday.Fairfax County Police said the man was charged with possessing a firearm at a school, a felony, after his arrest on Tuesday.Police say officers were called to Dolley Madison Preschool in McLean, which is less than a mile (kilometer) from CIA headquarters, where they took the man into custody.According to the preschool, the man asked to use the bathroom around 11 a.m. Tuesday but was denied access to the building.The man was unarmed when police responded, but officers searched his vehicle and found the AK-47 as well as a handgun and extensive ammunition, police said.He was arraigned Wednesday at Fairfax County General District Court and is being held pending a preliminary hearing scheduled for July. Online court records do not list an attorney.The Associated Press

Real Madrid players wear Vinícius Júnior’s jersey before Spanish league game

Published Fri, 27 Dec 2024 11:34:16 GMT

MADRID (AP) — Vinícius Júnior was not on the field but his Real Madrid teammates all came out wearing his No. 20 jersey in support of the Brazil forward ahead of the game against Rayo Vallecano in the Spanish league on Wednesday.Vinícius came out briefly to salute the fans as Madrid players, including those not in the squad for the game, lined up with their backs to the stands showing Vinícius’ jersey. Vinícius watched the match alongside club president Florentino Pérez.In the 20th minute, fans applauded and chanted his name, many standing. The Brazilian stood up and saluted back from the VIP section.Outside the Santiago Bernabeu Stadium, many fans arrived displaying messages condemning racism and praising Vinícius. Inside, a huge banner was displayed behind one of the goals with the words “We are all Vinicius. Enough.”As part of a new anti-racism campaign by the Spanish league, the Spanish soccer federation and the government, a banner with the words “racists out ...

Fueled by loss, Chicago nonprofit partners with law firm to combat youth bullying

Published Fri, 27 Dec 2024 11:34:16 GMT

CHICAGO — A Chicago nonprofit and area law firm are teaming up to help parents of bullying victims. A heartbreaking press conference was held Wednesday in the Loop, in which one family shared their ordeal regarding cyberbullying and how things said on social media led to the loss of an intelligent, confident and funny 15-year-old.  Illinois clergy sex abuse survivor speaks out after AG report: ‘I was scared to do anything’ "It takes a while for society to catch on to how determinantal something is. An example is tobacco and fentanyl. Social media belongs in that category," said Rob Bronstein, who, alongside his wife, Rose, spoke about their son Nate, who died by suicide in January last year. The grieving parents say classmates and other students at the Latin School of Chicago viciously bullied their son. Nate BronsteinNate BronsteinNate BronsteinNate BronsteinNate BronsteinOne of those messages sent via Snapchat reportedly read, "Go kill yourself." Bronstein told WGN News that he ...

Circle K offering 40 cents off fuel. Here's when and for how long

Published Fri, 27 Dec 2024 11:34:16 GMT

INDIANAPOLIS (WXIN) – Circle K is celebrating the unofficial holiday of "Fuel Day" by offering customers 40 cents off per gallon — if you time it right.The 40-cent discount is only available between 4 p.m. and 7 p.m. on Thursday at Circle K-branded locations. The discount will apply at over 5,000 Circle K and Holiday Stationstore locations across the U.S., the company says. What’s the cheapest day of the week to buy gas? Here’s when to fill up In addition to the 40-cent discount, most Circle K locations will also be handing out a limited number of fuel discount cards. Those will be redeemable for 10 cents off, per gallon, outside of the 3-hour window on Thursday.“After an overwhelming response from customers, we are thrilled to bring back Circle K Fuel Day in a bigger way,” said Louise Warner Sr., vice president of global fuels for Circle K. “With summer right around the corner, we want to thank our customers for their loyalty by providing them an opportunity to fuel their adventu...