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NEW YORK (AP) — Stocks wavered in afternoon trading on Wall Street Monday at the start of a holiday-shortened week. The S&P 500 rose 0.4%. A handful of technology companies helped support the gains. The Dow Jones Industrial Average slipped 63 points, or 0.2% as of 1:18 p.m. Eastern time. The tech-heavy Nasdaq composite rose 0.7%. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 3%. Broadcom jumped 5.2% to also help support the broader market. Japanese automakers Honda Motor and Nissan said they are talking about combining in a deal that might also include Mitsubishi Motors. Honda rose 3.8% and Nissan rose 1.6% in Tokyo. Eli Lilly rose 3% after announcing that regulators approved Zepbound as the first and only prescription medicine for adults with sleep apnea. Department store Nordstrom fell 1.7% after it agreed to be taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. The Conference Board said that consumer confidence slipped in December. Its consumer confidence index fell back to 104.7 from 112.8 in November. Wall Street was expecting a reading of 113.8. The unexpectedly weak consumer confidence update follows several generally strong economic reports last week. One report showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The latest report on unemployment benefit applications showed that the job market remains solid. A report on Friday said a measure of inflation the Federal Reserve likes to use was slightly lower last month than economists expected. Worries about inflation edging higher again had been weighing on Wall Street and the Fed. The central bank just delivered its third cut to interest rates this year, but inflation has been hovering stubbornly above its target of 2%. It has signaled that it could deliver fewer cuts to interest rates next year than it earlier anticipated because of concerns over inflation. Expectations for more interest rate cuts have helped drive a 24% gain for the S&P 500 in 2024. That drive included 57 all-time highs this year. Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under an incoming President Donald Trump. "Put simply, much of the strong market performance prior to last week was driven by expectations that a best-case scenario was the base case for 2025," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company Treasury yields edged higher in the bond market. The yield on the 10-year Treasury rose to 4.58% from 4.53% late Friday. European markets were mostly lower, while markets in Asia gained ground. Wall Street has several other economic reports to look forward to this week. On Tuesday, the U.S. will release its November report for sales of newly constructed homes. A weekly update on unemployment benefits is expected on Thursday. Markets in the U.S. will close early on Tuesday for Christmas Eve and will remain closed on Wednesday for Christmas.
By Molly Farrar Rachael Rollins, the former U.S. Attorney who resigned amid a federal investigation into ethical violations last year, weighed in on the public corruption charges against Boston City Councilor Tania Fernandes Anderson. Rollins appeared with At-Large City Councilor Julia Mejia online for “Woke Women Wednesdays,” hosted through WWOC Media . Mejia asked Rollins questions about the indictment against Fernandes Anderson, who represents District 7 consisting of Roxbury, Dorchester, Fenway, and part of the South End. Fernandes Anderson, who was arrested last week , is accused of orchestrating a kickback scheme involving a family member who she hired as part of her staff. She allegedly gave a large bonus to the staff member who agreed to give $7,000 back to the councilor. Rollins called into question the federal jurisdiction of the case. The bonus check involved in the scheme was made payable from a city account with Citizens Bank, a Rhode Island-based bank that processed the payment “via interstate wire communications,” federal prosecutors allege as part of their justification for a federal case. The City also received $10,000 in federal grants money in 2023, the indictment says. “Do you see what bullsh– this is? Excuse my language,” Rollins told Mejia. “This isn’t ‘Rachael Rollins was running drugs from Massachusetts to Rhode Island to New Hampshire, human trafficking people from Maine’... It seems petty.” Rollins hinted that prosecutors chose to target Fernandes Anderson with federal charges. The councilor is facing five counts of aiding and abetting wire fraud and one count of aiding and abetting theft concerning programs receiving federal funds. “I’m not saying she’s innocent, I’m not saying she’s guilty,” Rollins said, but “we can find a federal nexus for anything we want,” referring to the fine details of the allegations of Fernandes Anderson. Rollins also mentioned the 28 alleged customers of the brothel network in Boston that prosecutors have said included “wealthy and well-connected clientele” like politicians, military officers, lawyers, and tech and pharmaceutical executives. The alleged customers are facing charges in district court. “They don’t want to find a federal nexuses for people who look and live like them,” Rollins said. Rollins did not return a request for comment about her statements. Molly Farrar Molly Farrar is a general assignment reporter for Boston.com, focusing on education, politics, crime, and more. Boston.com Today Sign up to receive the latest headlines in your inbox each morning. Be civil. Be kind.The Morphology Of Anatase Rutile And Brookite And Their Industrial Significance
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Open Text Corporation ( NASDAQ: OTEX ) Barclays 22nd Annual Global Technology Conference December 12, 2024 4:20 PM ET Company Participants Greg Secord - Vice President, Investor Relations Madhu Ranganathan - President and CFO Conference Call Participants Raimo Lenschow - Barclays Raimo Lenschow Welcome to our next session. I know as a speaker we have like Madhu, and Madhu will join us in a minute, but Greg is -- because she's stuck on traffic. So, Greg is going to start with me. So, we can ask all the questions you always wanted to ask. But Greg, thanks for joining us for a start. First thing I wanted to go, and it's also good to have you here, like you just had your big customer conference their kind of Analyst Day. Can you talk a little bit about what were the highlights? What was the message you wanted to convey and what were the highlights from there? Greg Secord So, I think the -- it was a product conference, and we did have some investors there, but it really was about the upgrade to Titanium X, which is a product cycle that we have. It's a 2-year product cycle. Very focused on the SaaS functionality coming into some of the traditional OpenText Cloud products and overall cloud functionality coming into the Micro Focus products that we acquired. So, it's that April is comes to the -- kind of that high water point as far as delivering on the Titanium X. So, we were outlining what some of those enhanced functionalities would be. In the cloud we were highlighting some more of the AI-oriented integration pieces and what we were coming to market with and just a broader discussion there with customers. So, we were quite excited by the feedback and customers got engaged as far as their structure and their needs were.Why Is Victoria's Secret (VSCO) Stock Soaring Today
Houston Texans wide receiver Nico Collins scored a touchdown against the Tennessee Titans in his most recent home game and tossed the ball to a child in the stands pleading for it. On Thursday, Collins told reporters the NFL did not approve and assessed him a fine of about $5,000. "It's for the kids," Collins said. "I seen he was screaming and was thinking, ‘Here you go, big dog. Here's the ball.'" Collins said he was not penalized last season on the handful of occasions he threw a ball into the stands, so he wasn't expecting a fine. But making a child's day was "definitely worth it." The 25-year-old said he plans to appeal the fine, but if it isn't overturned, he'll pay up. "The only thing that matters was making that kid happy," he said. "He ain't never going to forget that moment. So that's all that matters to me." Collins followed up a 92-yard, one-touchdown performance that day against Tennessee with eight receptions for 119 yards last week at Jacksonville. The fourth-year wideout is Houston's leading receiver despite missing five games due to a hamstring injury. He has caught 49 passes for 832 yards and four touchdowns in just eight appearances. --Field Level MediaRoll Mobility Partners with MakeGood to Transform Accessibility in the French Quarter
You can learn something about a city by just walking through it. Most of New York City’s Manhattan core feels bustling, whereas a San Francisco block can seem dormant. In Rome, it is common to see groups of men standing around, chatting or arguing. We are all familiar with such casual generalizations, but what might the data show more explicitly? Fortunately, there is new research. We have entered the age where innovative methods of measurement, such as computer vision and deep learning, can reveal how American life has changed. Researchers at the National Bureau of Economic Research compiled footage of four urban public spaces, two in New York and one each in Philadelphia and Boston, from 1979-1980 and again in 2008-2010. These snapshots of American life, roughly 30 years apart, reveal how changes in work and culture might have shaped the way people move and interact on the street. The videos capture people circulating in two busy Manhattan locations, in Bryant Park in midtown and outside the Metropolitan Museum of Art on the Upper East Side; around Boston’s Downtown Crossing shopping district; and on Chestnut Street in downtown Philadelphia. One piece of good news is that at least when it comes to our street behavior, we don’t seem to have become more solitary. From 1980 to 2010 there was hardly any change in the share of pedestrians walking alone, rising from 67% to 68%. A bigger change is that average walking speed rose by 15%. So the pace of American life has accelerated, at least in public spaces in the Northeast. Most economists would predict such a result, since the growth in wages has increased the opportunity cost of just walking around. Better to have a quick stroll and get back to your work desk. The biggest change in behavior was that lingering fell dramatically. The amount of time spent just hanging out dropped by about half across the measured locations. Note that this was seen in places where crime rates have fallen, so this trend was unlikely to have resulted from fear of being mugged. Instead, Americans just don’t use public spaces as they used to. These places now tend to be for moving through, to get somewhere, rather than for enjoying life or hoping to meet other people. There was especially a shift at Boston’s Downtown Crossing. In 1980, 54% of the people there were lingering, whereas by 2010 that had fallen to 14%. Consistent with this observation, the number of public encounters also fell. You might be no less likely to set off with another person in tow, but you won’t meet up with others as often while you are underway. The notion of downtown as a “public square,” rife with spontaneous or planned encounters, is not what it used to be. The internet and mobile phones are likely driving this change in behavior. If there is someone you want to meet up with, it is today much easier to arrange that in advance, rather than hoping for chance encounters. Anecdotally, I have noticed that the notion of a “hangout” is less central to daily life than when I was growing up, though people will talk about “hanging out” on social media such as X or Bluesky. Another driver of change could be the aging of America. In the 1980s, when I was in my 20s, I sometimes would hang out at the Downtown Crossing area in Boston, but it is unlikely, if I still lived nearby, that I would do so today. As an older person, I am busier and have more pre-established social networks, including in other cities and online. I also find that more people in public spaces are on their cell phones, so what’s the point? American cities have devoted considerable attention to developing public spaces as a place to meet up and socialize. Some pedestrian-oriented spaces, such as New York City’s Times Square and downtown areas in Cleveland and Philadelphia, among others, are far more animated than they were three decades ago. But perhaps the emphasis on the public square is less appropriate than it used to be, and traffic management, in the broad sense of that term, should be the new priority. Should we prefer this new world to the old? There is probably no going back, but in the meantime I will be observing public spaces in a new and different way. I am more likely to see the velocity of movement and take stock of the social thinness of what is before me, and thus be all the more in a hurry to get to my next destination. _____ This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners. Tyler Cowen is a Bloomberg Opinion columnist, a professor of economics at George Mason University and host of the Marginal Revolution blog. _____ ©2024 Bloomberg L.P. Visit bloomberg.com/opinion . Distributed by Tribune Content Agency, LLC.EDMONTON — Alberta's Technology Minister Nate Glubish says he's hoping to see $100 billion worth of artificial intelligence data centres under construction within the next five years. Such centres are filled with computer servers used by companies like Meta to develop and train large-scale artificial intelligence models. Glubish says Meta, as well as other major companies including Google and Amazon, are on the hunt for space to build more facilities, and he wants Alberta to be an option. He says landing some data centres would create jobs and bring in much needed new tax revenue for the province. Glubish also says that since Alberta's electricity grid regulations allows for off-grid power generation, he thinks the province is an ideal location. He says allowing for off-grid power connections where power generators supply data centres directly also means there's less risk for Albertans, as there wouldn't be major drains on the electrical grid. This report by The Canadian Press was first published Dec. 4, 2024. Jack Farrell, The Canadian Press
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