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NEW YORK (AP) — U.S. stocks tiptoed to more records amid a mixed Tuesday of trading, tacking a touch more onto what’s already been a stellar year so far. The S&P 500 edged up by 2 points, or less than 0.1%, to set an all-time high for the 55th time this year. It’s climbed in 10 of the last 11 days and is on track for one of its best years since the turn of the millennium. The Dow Jones Industrial Average slipped 76 points, or 0.2%, while the Nasdaq composite added 0.4% to its own record set a day earlier. AT&T rose 4.6% after it boosted its profit forecast for the year. It also announced a $10 billion plan to send cash to its investors by buying back its own stock, while saying it expects to authorize another $10 billion of repurchases in 2027. On the losing end of Wall Street was U.S. Steel, which fell 8%. President-elect Donald Trump reiterated on social media that he would not let Japan’s Nippon Steel take over the iconic Pennsylvania steelmaker. Nippon Steel announced plans last December to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Earlier this year, President Joe Biden also came out against the acquisition. Tesla sank 1.6% after a judge in Delaware reaffirmed a previous ruling that the electric car maker must revoke Elon Musk’s multibillion-dollar pay package. The judge denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. All told, the S&P 500 rose 2.73 points to 6,049.88. The Dow fell 76.47 to 44,705.53, and the Nasdaq composite gained 76.96 to 19,480.91. In the bond market, Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. Continued strength there would raise optimism that the economy could remain out of a recession that many investors had earlier worried was inevitable. The yield on the 10-year Treasury rose to 4.23% from 4.20% from late Monday. Yields have seesawed since Election Day amid worries that Trump’s preferences for lower tax rates and bigger tariffs could spur higher inflation along with economic growth. But traders are still confident the Federal Reserve will cut its main interest rate again at its next meeting in two weeks. They’re betting on a nearly three-in-four chance of that, according to data from CME Group. Lower rates can give the economy more juice, but they can also give inflation more fuel. The key report this week that could guide the Fed’s next move will arrive on Friday. It’s the monthly jobs report , which will show how many workers U.S. employers hired and fired during November. It could be difficult to parse given how much storms and strikes distorted figures in October. Based on trading in the options market, Friday’s jobs report appears to be the biggest potential market mover until the Fed announces its next decision on interest rates Dec. 18, according to strategists at Barclays Capital. In financial markets abroad, the value of South Korea’s currency fell 1.1% against the U.S. dollar following a frenetic night where President Yoon Suk Yeol declared martial law and then later said he’d lift it after lawmakers voted to reject military rule. Stocks of Korean companies that trade in the United States also fell, including a 1.6% drop for SK Telecom. Japan’s Nikkei 225 jumped 1.9% to help lead global markets. Some analysts think Japanese stocks could end up benefiting from Trump’s threats to raise tariffs , including for goods coming from China . Trade relations between the U.S. and China took another step backward after China said it is banning exports to the U.S. of gallium, germanium, antimony and other key high-tech materials with potential military applications. The counterpunch came swiftly after the U.S. Commerce Department expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. In China, stock indexes rose 1% in Hong Kong and 0.4% in Shanghai amid unconfirmed reports that Chinese leaders would meet next week to discuss planning for the coming year. Investors are hoping it may bring fresh stimulus to help spur growth in the world’s second-largest economy. In France, the CAC 40 rose 0.3% amid continued worries about politics in Paris , where the government is battling over the budget. AP Business Writers Yuri Kageyama and Matt Ott contributed.
Special Counsel Moves to Dismiss Election Interference, Classified Documents Cases Against TrumpVariety’s ‘Actors on Actors’ Season 21 Makes Franchise History With Nearly 200 Million Social Video ViewsWHAT HAPPENED Good defense or bad offense? It might have been both on Saturday afternoon. Regardless, the scoring faucet remained off for Illinois and Oregon for large stretches of their Big Ten matchup with 4,914 fans on hand State Farm Center. What made the difference was the Illini's ability to at least get to the free-throw line on dribble drives. That Illinois made 14 more free throws than the Ducks did proved significant. An advantage that played a major role in the Illini's 64-59 home win against Oregon. WHAT IT MEANS Big Ten home wins are like gold. Illinois third-year coach Shauna Green 's words. Nothing about Saturday's resumption of conference play was straightforward for the Illini. But Illinois won with defense. Again. In a much more rugged 18-team Big Ten, the Illini evened up their league record. It's the kind of game Illinois largely didn't win last season. A victory made sweeter for the Illini by the fact they played without star point guard Makira Cook for a fourth straight game. WHAT'S NEXT Another home game against the second of the Big Ten's Pacific Northwest teams on New Year's Eve. Washington (10-4, 1-1 Big Ten) also got back to the .500 mark in league play on Saturday. A 90-71 win against Northwestern in Evanston that saw Huskies junior guard Elle Ladine pour in 40 points at Welsh-Ryan Arena, 26 of which came in the first half. It's the second time this season a Big Ten player has dropped a 40 piece after Southern Cal's JuJu Watkins had 40 points against California Baptist on Dec 3. WHAT WAS SAID "I thought our defense and how we played, we changed Oregon. I told (Oregon coach) Kelly ( Graves ) after the game in the handshake line, he's like, 'Small ball at its finest.' Never seen that. Not one possession all year in all the film we watched (did Oregon) go small. He's like, 'You guys made us. I had to.' I think we changed how they were playing because of our aggressiveness and our ability to do some things against their bigs and also get downhill." — Illinois coach Shauna Green
Fruster scores 15, Eastern Illinois beats Blackburn 99-55WASHINGTON (AP) — Lawmakers, meet your latest lobbyists: online influencers from TikTok. The platform is once again bringing influencers to Washington, this time to lobby members of Congress to reject a fast-moving bill that would force TikTok's Beijing-based parent company to sell or be banned in the United States. On Tuesday, some influencers began a two-day advocacy event in support of TikTok, which arranged their trip ahead of a House floor vote on the legislation on Wednesday. But unlike a similar lobbying event the company put together last March when talks of a TikTok ban reached a fever pitch, this year’s effort appeared more rushed as the company scrambles to counter the legislation, which advanced rapidly on Capitol Hill. Summer Lucille, a TikTok content creator with 1.4 million followers who is visiting Washington this week, said if TikTok is banned, she “don’t know what it will do” to her business, a plus-sized boutique in Charlotte, North Carolina. “It will be devastating,” Lucille said in an interview arranged by the platform. In an unusual showing of bipartisanship, a House panel unanimously approved the measure last week. President Joe Biden has said he will sign the legislation if lawmakers pass it. But it’s unclear what will happen in the Senate, where several bills aimed at banning TikTok have stalled. The legislation faces other roadblocks. Former president and current presidential candidate Donald Trump, who holds sway over both House and Senate Republicans, has voiced opposition to the bill, saying it would empower Meta-owned Facebook, which he continues to lambast over his 2020 election loss. The bill also faces pushback from some progressive lawmakers in the House as well as civil liberties groups who argue it infringes on the First Amendment. TikTok could be banned if ByteDance, the parent company, doesn’t sell its stakes in the platform and other applications it owns within six months of the bill’s enactment. The fight over the platform takes place as U.S.-China relations have shifted to that of strategic rivalry, especially in areas such as advanced technologies and data security, seen as essential to each country’s economic prowess and national security. The shift, which started during the Trump years and has continued under Biden, has placed restrictions on export of advanced technologies and outflow of U.S. monies to China, as well as access to the U.S. market by certain Chinese businesses. The Biden administration also has cited human rights concerns in blacklisting a number of Chinese companies accused of assisting the state surveillance campaign against ethnic minorities. TikTok isn’t short on lobbyists. Its Beijing-based parent company ByteDance has a strong lobbying apparatus in Washington that includes dozens of lobbyists from well-known consulting and legal firms as well as influential insiders, such as former members of Congress and ex-aides to powerful lawmakers, according to the Foundation for Defense of Democracies. TikTok CEO Shou Zi Chew will also be in Washington this week and plans to meet with lawmakers, according to a company spokesperson who said Chew’s visit was previously scheduled. But influencers, who have big followings on social media and can share personal stories of how the platform boosted their businesses — or simply gave them a voice — are still perhaps one of the most powerful tools the company has in its arsenal. A TikTok spokesperson said dozens of influencers will attend the two-day event, including some who came last year. The spokesperson did not immediately respond to questions about how many new people would be attending this year’s lobbying blitz. The company is briefing them ahead of meetings with their representatives and media interviews. Lucille, who runs the boutique in North Carolina, says has seen a substantial surge in revenue because of her TikTok page. The 34-year-old began making TikTok content focusing on plus-sized fashion in March 2022, more than a decade after she started her business. She quickly amassed thousands of followers after posting a nine-second video about her boutique. Because of her popularity on the platform, her business has more online exposure and customers, some of whom have visited from as far as Europe. She says she also routinely hears from followers who are finding support through her content about fashion and confidence. JT Laybourne, an influencer who also came to Washington, said he joined TikTok in early 2019 after getting some negative comments on videos he posted on Instagram while singing in the car with his children. Laybourne, who lives in Salt Lake City, Utah, said he was attracted to the short-form video platform because it was easy to create videos that contained music. Like Lucille, he quickly gained traction on the app. He says he also received more support from TikTok users, who reacted positively to content he produced on love and positivity. Laybourne says the community he built on the platform rallied around his family when he had to undergo heart surgery in 2020. Following the surgery, he said he used the platform to help raise $1 million for the American Heart Association in less than two years. His family now run an apparel company that gets most of its traffic from TikTok. “I will fight tooth-and-nail for this app,” he said. But whether the opposition the company is mounting through lobbyists or influencers will be enough to derail the bill is yet to be seen. On Tuesday, House lawmakers received a briefing on national security concerns regarding TikTok from the FBI, Justice Department and intelligence officials. AP Journalist Didi Tang contributed to this report. This story was originally published on March 12, 2024. It was updated on December 23, 2024 to clarify a quote by TikTok content creator Summer Lucille.BURLINGTON, Vt. (AP) — TJ Hurley scored 23 points as Vermont beat Northeastern 68-64 on Saturday. Hurley shot 6 for 14 (3 for 6 from 3-point range) and 8 of 9 from the free-throw line for the Catamounts (5-4). Jace Roquemore scored 13 points and added five rebounds. Ileri Ayo-Faleye shot 3 of 5 from the field and 3 for 4 from the line to finish with 10 points. Rashad King led the way for the Huskies (5-3) with 27 points, seven rebounds and three steals. Northeastern also got nine points and 10 rebounds from Youri Fritz. Hurley put up 13 points in the first half for Vermont, who led 35-22 at halftime. Vermont used an 8-0 run in the second half to build a 16-point lead at 47-31 with 12:26 left. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .