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2025-01-12
Stocks closed higher on Wall Street, giving the market its fifth gain in a row and notching another record high for the Dow Jones Industrial Average. The S&P 500 rose 0.3% Friday. The Dow added 1%, and the Nasdaq composite tacked on 0.2%. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts’ estimates. EchoStar fell after DirecTV called off its purchase of that company’s Dish Network unit. European markets closed mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Stocks rose on Wall Street in afternoon trading Friday, keeping the market on track for its fifth straight gain. The S&P 500 was up 0.2% and was solidly on track for a weekly gain that will erase most of last week's loss. The Dow Jones Industrial Average climbed 333 points, or 0.8%, and the Nasdaq composite was essentially flat with a gain of less than 0.1% as of 3:07 p.m. Eastern. Markets have been volatile over the last few weeks, losing ground in the runup to elections in November, then surging following Donald Trump's victory, before falling again. The S&P 500 has been steadily rising throughout this week to within close range of its record. “Overall, market behavior has normalized following an intense few weeks,” said Mark Hackett, chief of investment research at Nationwide, in a statement. Several retailers jumped after giving Wall Street encouraging financial updates. Gap soared 10.8% after handily beating analysts' third-quarter earnings and revenue expectations, while raising its own revenue forecast for the year. Discount retailer Ross Stores rose 1.5% after raising its earnings forecast for the year. EchoStar fell 2.4% after DirecTV called off its purchase of that company's Dish Network unit. Smaller company stocks had some of the biggest gains. The Russell 2000 index rose 1.8%. A majority of stocks in the S&P 500 were gaining ground, but those gains were kept in check by slumps for several big technology companies. Nvidia fell 3.3%. Its pricey valuation makes it among the heaviest influences on whether the broader market gains or loses ground. The company has grown into a nearly $3.6 trillion behemoth because of demand for its chips used in artificial-intelligence technology. Intuit, which makes TurboTax and other accounting software, fell 5.6%. It gave investors a quarterly earnings forecast that fell short of analysts’ expectations. Facebook owner Meta Platforms fell 0.8% following a decision by the Supreme Court to allow a multibillion-dollar class action investors’ lawsuit to proceed against the company. It stems from the privacy scandal involving the Cambridge Analytica political consulting firm. European markets closed mostly higher and Asian markets ended mixed. Crude oil prices rose. Treasury yields held relatively steady in the bond market. The yield on the 10-year Treasury fell to 4.41% from 4.42% late Thursday. In the crypto market, Bitcoin hovered around $99,000, according to CoinDesk. It has more than doubled this year and first surpassed the $99,000 level on Thursday. Retailers remained a big focus for investors this week amid close scrutiny on consumer spending habits headed into the holiday shopping season. Walmart, the nation's largest retailer, reported a quarter of strong sales and gave investors an encouraging financial forecast. Target, though, reported weaker earnings than analysts' expected and its forecast disappointed Wall Street. Consumer spending has fueled economic growth, despite a persistent squeeze from inflation and high borrowing costs. Inflation has been easing and the Federal Reserve has started trimming its benchmark interest rates. That is likely to help relieve pressure on consumers, but any major shift in spending could prompt the Fed to reassess its path ahead on interest rates. Also, any big reversals on the rate of inflation could curtail spending. Consumer sentiment remains strong, according to the University of Michigan's consumer sentiment index. It revised its latest figure for November to 71.8 from an initial reading of 73 earlier this month, though economists expected a slight increase. It's still up from 70.5 in October. The survey also showed that consumers' inflation expectations for the year ahead fell slightly to 2.6%, which is the lowest reading since December of 2020. Wall Street will get another update on how consumers feel when the business group The Conference Board releases its monthly consumer confidence survey on Tuesday. A key inflation update will come on Wednesday when the U.S. releases its October personal consumption expenditures index. The PCE is the Fed's preferred measure of inflation and this will be the last PCE reading prior to the central bank's meeting in December. Damian J. Troise And Alex Veiga, The Associated PressSen. Mike Rounds Strikes Optimistic Tone on Pete Hegseth's Confirmation8k8 com login download free android



Pakistan's missile program is 'emerging threat', top US official saysGREENSBORO, N.C. (AP) — Matthew Downing threw for two touchdowns and ran for another to lead Elon to a 31-21 season-ending win over North Carolina A&T on Saturday. The game was tied at 7 in the second quarter when the Phoenix turned a fumble recovery into a field goal. That started a string of four-straight scoring possessions. Downing was 16 of 21 for 203 yards. Chandler Brayboy had 12 receptions for 118 yards with a score. Rushawn Baker ran for 106 yards for the Phoenix (6-6, 5-3 Coastal Athletic Association). Julian Bumper also had a 10-yard rushing touchdown on his only carry and Jamarien Dalton had a 30-yard receiving touchdown on his only catch. Freshman Cortez Lane returned a kickoff 97 yards for a touchdown for the Aggies (1-11, 0-8), who lost their 11th straight. Justin Fomby threw for 190 yards and a touchdown pass to Daniel Cole and Shimique Blizzard ran for 87 yards and a TD. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football . Sign up for the AP’s college football newsletter: https://apnews.com/cfbtop25

My children are going through a "Mary Poppins" phase — the 1964 version starring Julie Andrews and Dick Van Dyke. Especially during these rainy days, we've found ourselves inside on weekend afternoons, singing along to the musical's Sherman Brothers-penned classics. I've been indulging my kids, as our oldest dog just passed away, and the movie serves as a perfectly wholesome distraction. This is how I found myself on a recent afternoon, setting down the newspaper and tablet, so I could belt out "I Love to Laugh" with them, one of the least popular songs from "Mary Poppins," but one that now feels more poignant than ever. "The more I laugh, the more I fill with glee," beloved character actor Ed Wynn sings while floating in the air in a fit of giggle-induced levitation. "And the more the glee, the more I'm a merrier me." To laugh, his number argues, is to be filled with lightness, so much so that we become unbound by the rules of physics — to laugh is to transcend gravity, to go beyond the highest high, even as the world tries to tether us to the ground. Laughter has always been political. From the old Margaret Atwood refrain ("men are afraid that women will laugh at them") to the fact that some of the best insight on current events comes from comedians, humor and politics have always been awkward bedfellows. And in this political moment, as many feel the doom and gloom (or smug elation) of the election results, laughter has never felt more important. In "Mary Poppins," the light and unencumbered Uncle Albert serves as a foil to the very serious banker, Mr. Dawes, Sr. There is a hum of political commentary occurring in the musical, one that urges parents to be present in their children's lives, to let go of their politics and ambitions in the name of family. It's telling that when the elder Mr. Dawes finally laughs, he too begins to float. The bank, it turns out, was only keeping him down. In this time of uncertainty, it's important to find our sense of humor. But I don't think it will be too difficult to find fodder. The president-elect has already given the whole world much to laugh about — and he's not even president yet. "Anti-swamp" candidate immediately appointing deeply swamp-tastic politicos as members of his cabinet? Amazingly uproarious. Two people to head the newly created Department of Government Efficiency (never mind the pre-existing Office of Management and Budget)? Hilariously inefficient. Man investigated for sexual relationship with a minor now in charge of the Department of Justice? Jaw-droppingly incongruous. You gotta laugh, right? Buckle in, because the next four years are going to be ripe for parody. The reign of dramatic irony has already begun. Infowars pundit Alex Jones lost a $1.4 billion defamation suit two years ago against the families of the victims of the shooting at Sandy Hook Elementary, after he incorrectly claimed that the massacre of young children was fake, staged by advocates to motivate stricter gun laws. After Jones declared bankruptcy, in September, a Texas judge ruled that assets owned by Jones' companies could be auctioned off to the highest bidder to cover his legal obligations. And on Thursday it was announced that in the case of Infowars, the highest bidder was The Onion, a satirical online newspaper unafraid to punch hard. "We thought this would be a hilarious joke," Ben Collins, CEO of The Onion's parent company, told the New York Times. "This is going to be our answer to this no-guardrails world where there are no gatekeepers and everything's kind of insane." The Onion plans to relaunch their version of Infowars soon, and the families of Sandy Hook victims are on board. "They're all human beings with senses of humor who want fun things to happen and want good things to take place in their lives," Collins said. "They want to be part of something good and positive too." There is goodness to be had from laughter. And the cleverest humor can reveal bigger, and more uncomfortable, truths. Consider how Hannibal Buress' standup helped the effort to hold Bill Cosby accountable for sexual assault. Or the theory that Trump decided to run for president after being mocked by Obama at a dinner. Jokes can change history. When I speak to my Trump-supporting friends, they often cite the president-elect's sense of humor as part of his appeal. "He's funny," my friend Alex wrote on social media. "And let's be honest, Dems have no sense of humor." It's not that the left isn't funny, but its best comics require audiences to overcome subscriptions and paywalls, vocabulary lessons and literary references. Maybe jokes, and the news, should be more accessible, less condescending. Still, it's clear who is losing the humor wars. And there have been consequences that will affect us all. "There's nothing like a good joke," says Bert in "Mary Poppins." "And that was nothing like a good joke," Uncle Albert quickly replies. We could all use a hearty chuckle right now. Or as Abe Lincoln put it: "I laugh because I must not cry, that is all, that is all."

F&O Talk| Markets lack follow-through, cautious optimism amid uncertain momentum: Sahaj Agrawal of Kotak Securities

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GEORGE TOWN, Cayman Islands , Dec. 19, 2024 /PRNewswire/ -- On October 29th, 2024 , a Judge in the Financial Services Division of the Grand Court has ruled on a timetable to decide whether the company Position Mobile Ltd SEZC ('Position Mobile'), a joint venture between a subsidiary company of Genimous Technology Co., Ltd. and Genimous Investment ( Hong Kong ) (collectively 'Genimous'), and Technology Investment Consortium LLC ('TIC'), should be wound up and, if so, on which grounds, or whether an alternative form of relief is more appropriate. One alternative relief at the court's discretion is to order the Genimous entities to buy TIC's shares at a valuation to be determined at trial. These matters regarding Position Mobile are set to be decided over a 12-day trial, in Q4 of 2025. Sources include judicial.ky and technologyinvestmentconsortium.com . About TIC and Position Mobile: Position Mobile is a Cayman Islands company created to develop and market mobile apps. Technology Investment Consortium LLC is co-founder of and largest single shareholder in Position Mobile. About Genimous Technology Co., Ltd.: Genimous Technology Co., Ltd is a listed company on the Shenzhen stock exchange in the PRC. It is chaired by Hongda Lu , a former member of the IPO committee of the CSRC who also chairs GuoGuang Electric Co., Ltd. Genimous, as well as its US and Cayman subsidiaries, count Yahoo and other advertising networks as key partners to monetize its portfolio of apps, including multiple apps from Position Mobile. View original content: https://www.prnewswire.com/news-releases/position-mobiles-fate-remains-uncertain-winding-up-court-ordered-buy-out-both-options-in-next-years-trial-302336496.html SOURCE Technology Investment Consortium, LLC

The President of the Trade Union Congress, Festus Osifo, has urged Nigerians not to politicise the controversial tax reform bills. Osifo also appealed to Nigerians not to introduce tribal or religious sentiments into debates surrounding the provisions of the bills, noting that the bills were good but had to undergo some tweaking to benefit the larger section of the citizenry. The TUC President made the statement when he appeared on a Channels Television programme, Politics Today, on Thursday evening. “Those undertones are clearly there. It started from the Northern Governors Forum, metamorphosed into the Nigerian Governors’ Forum and it went into the National Economic Council. “At this stage of our development, we should be wary. We shouldn’t politicise everything. Bringing in tribal talks or ethnicity, I don’t think this is right,” he said. Related News Senate didn't suspend nor withdrew tax reform bills – Bamidele Senate halts action on tax reform bills, stops public hearing 10 ways tax reform bills will enrich states -- Tinubu's aide Osifo also addressed the debate on the deductions of Value Added Tax, adding that such concerns should instead be compiled and sent to the National Assembly. He urged the NASS to listen to the concerns of Nigerians on the bills and invite experts to debate its provisions and make recommendations “When a reform is being made, we are used to certain things. For example, I’ve listened to the debate on the VAT. Before now, there was a means of collecting the VAT, whereby where the headquarters of a company is stationed is where they collect it from. But as of today, they want to collect it from source”. “So the first question is that, hope we have the requisite skills and the requisite knowledge and the requisite tools to be able to determine that source so that nobody will be shortchanged? When we are used to a particular system and change is coming, there is always some level of resentment, and there’s always some level of debate. So that is actually what is happening. “At the end of the day, what I think is that these points should be articulated and it should be taken to the National Assembly. But we fear that the National Assembly should listen to Nigerians. The National Assembly should bring in other experts, and not just depend on the experts that the Executive have put in place. They should bring in experts both locally and internationally that would be able to dissect this and come up with what will stand the test of time”, he said.

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