Nasdaq CFO Sarah Youngwood to Present at the Goldman Sachs U.S. Financial Services Conference
NEW YORK (AP) — U.S. stock indexes drifted lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show similar increases as the month before. Wednesday’s update and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January. Elsewhere on Wall Street, Alaska Air Group soared 13.2% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 4.5% after saying it’s resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. Indexes fell across much of Europe ahead of a meeting this week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.A phase one clinical trial exploring a novel cell-based immunotherapy for breast cancer has been published in JAMA Oncology . The technology tested in the trial was co-developed by Gary Koski, Ph.D., professor in Kent State University's Department of Biological Sciences, and Brian J. Czerniecki, M.D., Ph.D., chair and senior member in the Moffitt Cancer Center's Department of Breast Oncology. The study focuses on a new treatment approach that aims to harness the body's immune system to enhance patient responses and reduce the need for conventional chemotherapy and its associated toxicities. The trial involved 12 patients with locally advanced stage I-III HER2 breast cancer. This research builds upon insights gained from previous studies. "We are hopeful that we will be able to use this new immunotherapy instead of chemotherapy, or at least dramatically reduce the need for chemotherapy, for all types of breast cancer ," Czerniecki said. The immunotherapy leverages dendritic cells, critical components of the immune system that normally identify infection and mobilize other elements of immunity to repel a microbial attack. By removing some of these dendritic cells from the body, biochemically reprogramming them for anti-cancer activity and injecting them directly into breast tumors, the researchers could trigger a powerful, organized immune system attack on the cancer. This led to the significant shrinkage of tumors before standard chemotherapy was administered. Eight out of the 12 patients demonstrated at least a 50% reduction in tumor volume after just six weeks of immunotherapy. This treatment produced only minimal side effects, primarily mild flu-like symptoms, compared with the severe side effects often associated with traditional chemotherapy. "These exciting results are the culmination of nearly 30 years of collaborative research between my laboratory and Dr. Czerniecki's," Koski said. The researchers have already begun a larger phase two trial to test higher doses of the immunotherapy, further exploring the potential effectiveness of this new technology. More information: Hyo S. Han et al, Alteration of the Tumor Microenvironment With Intratumoral Dendritic Cells Before Chemotherapy in ERBB2 Breast Cancer, JAMA Oncology (2024). DOI: 10.1001/jamaoncol.2024.5371DECEMBER Through-May 25 “Ribbit the Exhibit II,” featuring 18 large whimsical frog sculptures by Andy Cobb. Each frog is 5 to 7 feet tall, crafted from hand-painted copper, and has a name and a story. Mounts Botanical Garden, 531 N. Military Trail, West Palm Beach. Times and ticket prices vary. mounts.org . 8 Paul Shewchuk’s Swing All Stars, kicking off the sixth annual Jazz in the Gardens Concert Series – Celebrating the Greats. 1-3 p.m. at Ann Norton Sculpture Gardens, 253 Barcelona Road, West Palm Beach. $35 adults, $25 ANSG members and seniors, $12 children. ansg.org/event/palm-sunday-paul-schewchuk . 12 Whiskies of the World, a tasting tour featuring a curated pour list with a variety of whiskies from bourbons and scotches to rye and small-batch varieties. Entry is 6 p.m. for VIP, 6:45 p.m. general admission until 9 p.m. at Loews Miami Beach, 1601 Collins Ave., Miami Beach. $150 VIP, $99 general admission includes unlimited whiskey pours, light gourmet bites and a souvenir nosing glass. Masterclass sessions with brand ambassadors and distillery representatives available for an additional $10. whiskiesoftheworld.com/tour/miami. 13 Trans-Siberian Orchestra The Lost Christmas Eve Winter Tour, celebrating 20 years of the rock opera. 7:30 p.m. at Amerant Bank Arena, 1 Panther Parkway, Sunrise. Ticket prices vary. seatgeek.com . 13-15 Arts Ballet Theatre of Florida: The Nutcracker , choreographed by Vladimir Issaev. Aventura Arts & Cultural Center, 3385 NE 188th St., Aventura. Times vary. $60. aventuracenter.org . 14 The Seminole Hard Rock Winterfest Boat Parade, decorated boats of all sizes travel along the New River, east to the Intracoastal Waterway in Fort Lauderdale and north to Lake Santa Barbara in Pompano Beach. This year’s theme is “From Sawgrass to Seagrass: Waves of Holiday Cheer.” Parade starts at 6:30 p.m. Tickets available for purchase for the Parade Viewing Area with seating, Las Olas Intracoastal Promenade Park, 80 Las Olas Circle, Fort Lauderdale. Other viewing areas include bridges and The Riverside Hotel, 620 E. Las Olas Blvd. winterfestparade.com . 26 Kwanzaa Celebration, highlights the seven principles of Kwanzaa with contributions from families and youth. Gifts, music, art and storytelling. 2-5 p.m. at The Spady Cultural Heritage Museum, 170 NW Fifth Ave., Delray Beach. $10. spadymuseum.com . 29 Swan Lake , performed by the State Ballet Theatre of Ukraine. 7 p.m. at Coral Springs Center For The Arts, 2855 Coral Springs Drive. $42.45-$85.25. thecentercs.com . 31 New Year’s Eve 2025 Count Down Extravaganza, music, food stations, open bar, and best-dressed and best dancer contests. 8 p.m. to midnight at the Riverside Hotel, 620 E. Las Olas Blvd., Fort Lauderdale. Age 21 and up. $140. riversidehotel.com . JANUARY 4-5 37th annual Las Olas Art Fair (Part I), more than 250 artists from around the nation selling handmade sculptures, art deco wall pieces, master craft glassworks, woven and hand-painted wearable art and paintings. 10 a.m.-5 p.m. both days at the west end of Las Olas Boulevard in downtown Fort Lauderdale. artfestival.com . 13-19 Sixth annual Visit Lauderdale Food & Wine Festival, sponsored by City & Shore magazine. Signature events, culinary classes and exclusive dinner series showcasing Greater Fort Lauderdale’s culinary scene. Headline celebrity personalities and chefs include Fabio Viviani, Nancy Fuller, Jason Smith, Alex Belew and social media personality Alexa Santos. Times, dates, locations and ticket prices vary. vlfoodwine.com . 4-Feb. 23 “A Disappearing Landscape: Art of the Highwaymen,” a limited engagement exhibit showcasing the works of the Florida Highwaymen artists. Flamingo Gardens, 3750 S. Flamingo Road, Davie. Included with general admission ($24 age 12 and up; $17 ages 3-11; members and under 3 free). flamingogardens.org . 17-19 Artisans of Wine & Food, a multi-day experience with more than 75 winemakers, chefs such as Todd English and Mario Carbone, immersive programming and a dinner curated by an all-female lineup of top chefs matched with female-owned wineries/winemakers. Gala to benefit Boys & Girls Clubs of Palm Beach County and Napa Valley. The Boca Raton, 501 E. Camino Real, Boca Raton. Times and ticket prices vary. arttisansofwineandfood.com . Editor’s note: Please call or click to confirm events before attending.