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The Australian share market is expected to edge lower on opening after US stocks stabilised following one of their worst days of the year. Futures markets are pointing to a soft start for trading on the ASX after it plunged to a two-year low on Thursday. The local bourse had followed the trajectory of rattled global markets, which fell sharply after the US Federal Reserve predicted it would deliver fewer rate cuts in 2025 than expected. However, a day after tumbling 2.9 per cent following the Federal Reserve’s prediction, the S&P 500 rose 0.2 per cent in afternoon trading (US time). The Dow Jones Industrial Average was up 96 points, or 0.2 per cent, as of 1:03 p.m. Eastern time in the US, following Wednesday’s drop of more than 1100 points. The Nasdaq composite rose 0.2 per cent. Wall Street loves lower interest rates because they give the economy a boost and goose prices for investments, but they can also provide fuel for inflation. Credit: Bloomberg Indexes are still near their records, and the S&P 500 is still on track for one of its best years of the millennium. Wednesday’s drop just took some of the enthusiasm out of the market, which critics had already been warning was overly buoyant and would need everything to go correctly for it to justify its high prices. Traders are now expecting the Federal Reserve to deliver just one or maybe two cuts to interest rates next year, according to data from CME Group. Some are even betting on none. A month ago, the majority saw at least two cuts in 2025 as a safe bet. Wall Street loves lower interest rates because they give the economy a boost and goose prices for investments, but they can also provide fuel for inflation. Darden Restaurants, the company behind Olive Garden and other chains, helped lift the market after leaping 14.9 per cent. It delivered profit for the latest quarter that edged past analysts’ expectations. The operator of LongHorn Steakhouses also gave a forecast for revenue for this fiscal year that topped analysts’. Accenture rose 6.4 per cent after the professional services company topped expectations for profit in the latest quarter. CEO Julie Sweet said it saw growth around the world, and the company raised its forecast for revenue this fiscal year. Amazon shares added 1.6 per cent, even as workers at seven of its facilities went on strike Thursday in the middle of the online retail giant’s busiest time of the year. Amazon says it doesn’t expect an impact on its operations during what the workers’ union calls the largest strike against the company in US history. Loading They helped offset a tumble for Micron Technology, which fell 16.8 per cent despite reporting stronger profit than expected. The computer memory company’s revenue fell short of Wall Street’s forecasts, and CEO Sanjay Mehrotra said it expects demand from consumers to remain weaker in the near term. It gave a forecast for revenue in the current quarter that was well short of what analysts were thinking. In the bond market, yields were mixed a day after shooting higher on expectations that the Fed would deliver fewer cuts to rates in 2025. Reports on the US economy came in mixed. One showed the overall economy grew at a 3.1 per cent annualised rate during the summer, faster than earlier thought. The economy has remained remarkably resilient even though the Fed held its main interest rate at a two-decade high for a while before beginning to cut them in September. A separate report showed fewer US workers applied for unemployment benefits last week, an indication that the job market also remains solid. But a third report said manufacturing in the mid-Atlantic region is unexpectedly contracting again despite economists’ expectations for growth. The yield on the 10-year Treasury rose to 4.59 per cent from 4.52 per cent late Wednesday and from less than 4.20 per cent earlier this month. But the two-year yield, which more closely tracks expectations for action by the Fed in the near term, eased back to 4.32 per cent from 4.35 per cent. The rise in longer-term yields has put pressure on the housing market by keeping mortgage rates higher. A report on Thursday may have offered some encouragement for the housing industry. It showed a pickup in sales of previously occupied homes. In stock markets abroad, London’s FTSE 100 fell 1.1 per cent and Tokyo’s Nikkei 225 fell 0.7 per cent. Indexes likewise sank across much of the rest of Asia and Europe. The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon . Save Log in , register or subscribe to save articles for later. Shares Investing Wall Street Bonds Most Viewed in Business Loading
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With Thanksgiving quickly approaching , the last thing you want is to run to the store for a last-minute menu item only to find that the ingredient you needed to bring that dish together is no longer available. While substitutions might work on any other day, hours before Thanksgiving simply is not the time for improvisating or experimenting. This is the time to stick with tried-and-true classics. Your guests are counting on staples like turkey , ham, sweet potatoes , mac and cheese and pecan pie . If you’re running low on ingredients and your menu is looking a little shaky, one of the queens of the kitchen has a simple recipe for a classic dish that will put you back in the game. Martha Stewart’s Classic Stuffing calls for a loose list of ingredients that promise to come together in no time. Intrigued, I headed to the kitchen to get cooking. Here's what happened. Get the recipe: Martha Stewart's Classic Stuffing 😋😋 SIGN UP to get delicious recipes, handy kitchen hacks & more in our daily Pop Kitchen newsletter 🍳 🍔 Courtesy of Dante Parker Ingredients for Martha Stewart’s Classic Stuffing The list of ingredients isn’t elaborate at all, and Martha Stewart goes so far as to break them down into categories so you can use what you have. For the “ bread ,” you’ll want two loaves of stale bread cut into one-inch pieces. For the “aromatics,” you’ll need celery and onions. For the “herbs,” we went with a classic combination of sage and parsley. And lastly for the “stock,” you’ll want chicken stock or broth, preferably low-sodium broth. Now depending on how fancy you want your stuffing, there is the option to add some “mix-ins.” In this case, Ms. Stewart calls for dried tart cherries and chopped pecans. Related: The Martha Stewart-Approved Method to Getting the Juiciest Turkey Ever Courtesy of Dante Parker How to Make Martha Stewart’s Classic Stuffing Butter a large baking dish and preheat the oven to 400°. In a skillet, melt butter over medium heat, then cook onions and celery for 10 minutes until translucent. Stir in parsley and sage, cooking for another 3 to 4 minutes. Add 1⁄2 cup of stock, simmer for 5 minutes until reduced, then transfer the veggie mixture to a large bowl. Mix in the bread plus the optional pecans and dried cherries ensuring the bread is just moistened. Transfer the mixture to the baking dish, cover with foil, and bake for 20 minutes. Uncover and bake until golden brown, 25 to 30 minutes. Let the stuffing rest for 10 minutes before serving. Related: Martha Stewart's Super-Simple Tip Will Give You the Fluffiest Baked Potato Ever Courtesy of Dante Parker What I Thought of Martha Stewart’s Classic Stuffing My family is a dressing family, so the idea of eating stuffing is foreign to me. What's more, whether it was a stuffing or a dressing , I'm not one to add cherries, nuts, or apricots to either stuffing or dressing. And lastly, why are there so many onions!? You can say I was skeptical—that is until I gave Martha's stuffing a taste. This stuffing was stellar, even with a tiny error I made (more on that later). It was buttery and full of flavor . Martha nailed it with the parsley and sage combo, which provided a big, bold one-two punch of savory aromatics. I'm definitely willing to give this stuffing another shot and might even go so far as introducing it to my family on Thanksgiving. Related: The Store-Bought Item Martha Stewart Admits to Using for Her Thanksgiving Menu Tips for Making Martha Stewart’s Classic Stuffing. • If you fail to plan, you plan to fail. Prep your bread a day or two before cooking to allow it to get stale naturally . Take it from me, I chose to bake my bread because I forgot to leave the bread out for a few days. And while my stuffing was good, it could have been even better with dry bread. Toasting your bread before making the stuffing also means you run the risk of over-baking the bread and drying out the dish. • Rip, don't cut, the bread . For a more rustic look and those nice craggy edges that get crispy in the oven, you can rip the bread instead of cutting it into pieces. Related: Martha Stewart’s Secret Ingredient For Making Pumpkin Pie 10x Better Up Next: Related: The Secret Ingredient for the Best-Ever Stuffing, According to Regis PhilbinCoding Education With AI: Can English Teachers Show The Way?