The S&P 500 rose 0.8% to break its first two-day losing streak in nearly a month and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average, meanwhile, lagged the market with a dip of 99 points, or 0.2%. Stocks got a boost as expectations built that Wednesday's inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. Traders are betting on a nearly 99% probability of that, according to data from CME Group, up from 89% a day before. If they're correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It's hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. "The data have given the Fed the 'all clear' for next week, and today's inflation data keep a January cut in active discussion," according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year, with the latest coming last week. The biggest boosts for the index on Wednesday came from Nvidia and other Big Tech stocks. Their massive growth has made them Wall Street's biggest stars for years , though other kinds of stocks have recently been catching up somewhat amid hopes for the broader U.S. economy . Tesla jumped 5.9% to finish above $420 at $424.77. It's a level that Elon Musk made famous in a 2018 tweet when he said he had secured funding to take Tesla private at $420 per share. Stitch Fix soared 44.3% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. GE Vernova rallied 5% for one of the biggest gains in the S&P 500. The energy company that spun out of General Electric said it would pay a 25 cent dividend every three months, and it approved a plan to send up to another $6 billion to its shareholders by buying back its own stock. On the losing end of Wall Street, Dave & Buster's Entertainment tumbled 20.1% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. Albertsons fell 1.5% after filing a lawsuit against Kroger, saying it didn't do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it's seeking billions of dollars in damages from Kroger, whose stock rose 1%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants' merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement with Kroger, Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Macy's slipped 0.8% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. All told, the S&P 500 rose 49.28 points to 6,084.19. The Dow dipped 99.27 to 44,148.56, and the Nasdaq composite rallied 347.65 to 20,034.89. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, edged up to 4.15% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong's Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. South Korea's Kospi rose 1%, up for a second straight day as it climbs back following last week's political turmoil where its president briefly declared martial law.No. 7 Tennessee dispatches UT Martin to remain undefeated
Have you seen claims that Brian Thompson, the UnitedHealthcare CEO who was shot on Dec. 4 in New York, was killed because he was about to testify against Rep. Nancy Pelosi for insider trading? It’s gone viral on several social media platforms over the past week. But it’s not true. The oldest example of this false claim that Gizmodo could find dates to the night of Dec. 6, two days after the shooting. The X account HustleBitch wrote “ BREAKING: Brian Thompson, the CEO of UnitedHealthcare, was set to testify against Nancy Pelosi for insider trading.” From that claim around 10:00 p.m. ET, other X accounts that went viral seem to have made their posts about it a couple of hours later. Politifact also found the claim being made on Threads and Instagram, though those posts were made on Dec. 7, the day after the earliest tweets spreading the false story, which were happening well before the arrest of Luigi Mangione , who’s been charged with the murder and is currently fighting extradition to New York from Pennsylvania. But the claim that Thompson was killed over this motive related to a sitting congresswoman isn’t true. There’s no evidence Thompson was going to testify against Pelosi for insider trading or anything else. But, oddly enough, Thompson was himself accused of insider trading before he was killed. The Hollywood Firefighters Pension Fund filed a lawsuit against Thompson and other executives at UnitedHealth back in May . The lawsuit alleges that the executives sold about $120 million worth of UnitedHealth shares when they learned the U.S. Department of Justice was investigating the company for anti-competitive practices. The stock went down only after it became publicly known the DOJ had opened an investigation. The suit states Thompson sold about $15 million worth of stock. Pelosi and other members of Congress have indeed received scrutiny over their activity trading stocks, and some Democrats have called for a ban, including Rep. Alexandria Ocasio-Cortez, who wrote back in 2021 , “There is no reason members of Congress should hold and trade individual stock when we write major policy and have access to sensitive information.” Some versions of the false claim on social media also use a video that purports to show Thompson talking about Nancy Pelosi providing help to UnitedHealth. The only problem, of course, is that the video doesn’t show the Thompson that was killed, as anyone with eyes can see. Matt Wallace , a conspiracy theorist who often spreads disinformation on X, helped spread the misidentified video along with several others. Wallace also made a video on Rumble claiming that Nancy Pelosi brainwashed the shooter with techniques from MKUltra, the mind control experiments of the CIA from the 1960s. There were also claims that the man who took a shot at Donald Trump over the summer in Butler, Pennsylvania. The CIA told Gizmodo after those claims went viral that any claims about MKUltra being involved in the assassination attempt were, “utterly false, absurd, and damaging.” Why are people online spreading this false story about Pelosi? We can only assume they’re either actively or unintentionally spreading false information that helps Trump. Many of the accounts that were sharing the false claim in its earliest iteration appear to have bios and images promoting the former and incoming president. HustleBitch, the account that appears to have shared the claim very early (if not possibly the first), has a history of sharing lies on the internet. That account was also one of the first to share a claim that a body double was actually used for Trump’s visit to watch a SpaceX launch with Elon Musk last month . But it’s not clear who’s actually behind the account. All we know for certain is that there’s no evidence that Thompson was killed because he was going to testify. And while Mangione’s lawyer has said his client intends to plead not guilty, all the available evidence seems to suggest that he may have been killed because his company makes billions of dollars in profits while denying life-saving medical coverage to Americans who are fed up with a broken healthcare system.Google needs ‘right conditions’ to build more AI infrastructure in UK
Officials examine housing study as boom continues in OswegoPLYMOUTH — A 76-yard rushing score from Foxboro High’s Ben Angelini with 36 seconds to go in the game lifted the Warriors over Hanover High to punch No. 3 Foxboro’s ticket for the Division 5 Super Bowl with a 14-7 victory last Friday. The play, which was a draw to Angelini, was one that brought Foxboro head coach Jack Martinelli a jubilant outlook on the sideline. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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11 holiday films on Prime Video available with your Prime membershipWarriors may acquire rough-edged $46 million Hawks center via trade | Sporting NewsAfter Trump's win, Black women are rethinking their role as America's reliable political organizers
Raw milk nearly killed her son. Now avian flu is bringing more attention to its risk
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NoneDortmund's Nico Schlotterbeck taken off on stretcher with ankle injury in loss to BarcelonaOregon RB Jordan James Had the Perfect Reaction to Achieving This Career Milestone
GTA 6 Moon Theory Debunked, Fans Devastated - IGN Daily Fix In today's Daily Fix:Leave it to Grand Theft Auto fans to come up with the craziest theories. The popular "moon theory" was recently debunked, however, as no new GTA 6 trailer has dropped. The theory suggests that Rockstar Games has been leaving hints as to when new trailers will drop via lunar clues in screenshots. One image released last year featured the moon in a particular lunar phase, and (likely coincidentally) the GTA 6 trailer dropped the day the real life moon was in the same phase. Didn't work this time, however. In other news, Black Ops 6 was a huge seller...on PlayStation. PS5 sales made up a whopping 82% of the game's sales, but it did move the needle on Game Pass subscriptions on Xbox and PC. And finally, Black Myth: Wukong developer Game Science is teasing something for the end of the year.Melania, Ivanka, and Tiffany Trump celebrate Donald Trump's TIME Person of the Year cover
Exciting Developments in Robotics Chinese automaker BYD is making waves as it ventures into the world of humanoid robots, according to recent reports. The company has strategically divided its technology arm, creating a unit dedicated to artificial intelligence. This division aims to propel BYD to the forefront of robotics innovation. A Bold Move Within this new framework, BYD has launched an AI laboratory, fittingly named the “future lab.” Initially, this lab concentrated on developing industrial robots for automated guided vehicles, as well as exploring innovative robotic technologies. The initiative marks a significant step for BYD as it navigates the promising field of robotics. Opportunities for Aspiring Technologists On December 13, a WeChat post revealed that BYD is on the lookout for fresh graduate talent with advanced degrees to join its AI division. The company is offering enticing opportunities in cutting-edge research areas including humanoid and bipedal robots, and even quadrupedal mechanical dogs. A Look at Industry Trends BYD is not alone in its pursuit; Chinese automotive giants like Nio and Xpeng are also integrating humanoid robots into their assembly processes. Meanwhile, Tesla is testing its advanced Optimus humanoid robot in various production facilities. With these groundbreaking efforts, BYD is positioning itself at the heart of the robotics revolution, heralding a new era for automated manufacturing processes and beyond. Revolutionizing Robotics: BYD’s Bold Leap into AI and Humanoids Overview of BYD’s Robotics Initiative BYD, a major Chinese automaker best known for its work in the electric vehicle sector, is now setting its sights on the robotics industry. In a strategic move to stay at the forefront of technological innovation, BYD has launched a dedicated division within its technology arm focused on artificial intelligence and robotics. This bold venture is marked by the establishment of an “AI laboratory,” also called the “future lab,” which aims to revolutionize industrial robotics and shape the future of automated manufacturing. Innovations and Features The “future lab” primarily aims at developing industrial robots used for automated guided vehicles. However, its ambitions do not end there. BYD is exploring advanced robotic technologies, including humanoid and bipedal robots, as well as quadrupedal mechanical dogs. These efforts signify a broader trend towards more integrated and intelligent robotics solutions in the assembly line, a crucial step towards optimizing manufacturing processes. Industry Trends and Comparisons BYD’s foray into humanoid robotics places it among the ranks of other automotive giants like Nio and Xpeng. These companies are similarly integrating humanoid robots within their production lines, an indicator of the growing importance of robotics in automotive manufacturing. Tesla is another key player in this space, currently testing its Optimus humanoid robot across various production facilities, focusing on enhancing operational efficiency and flexibility. Opportunities and Talent Acquisition In a recent WeChat announcement, BYD expressed its commitment to attracting and nurturing talent in the field of AI and robotics. The company is seeking fresh graduates with advanced degrees to join its AI division, offering a unique opportunity to work on cutting-edge projects related to humanoid and quadrupedal robots. BYD’s focus on talent acquisition underscores the importance of human resources in driving innovation and maintaining competitive advantage. Predictions and Future Impact The advancements in robotics being pursued by BYD and its peers have the potential to redefine the landscape of automated manufacturing. The integration of advanced robotics not only promises increased efficiency but also greater flexibility in production lines. As more companies follow suit, we can expect a significant shift in manufacturing paradigms, characterized by reduced labor costs and improved precision. Sustainability and Challenges While robotics provides exciting prospects for the future of manufacturing, it also introduces challenges related to sustainability and job displacement. Companies like BYD will need to consider the environmental impact of their robotic technologies and strive for sustainable practices in production. Furthermore, the automation of jobs raises questions about the future workforce, necessitating a careful balance between technological advancement and job creation. For more information about BYD’s innovative projects and industry solutions, visit their official site at BYD .Stocks drifted higher on Wall Street in midday trading Thursday, as gains in tech companies and retailers helped boost the market. The S&P 500 rose less than 0.1%. The benchmark index is coming off a three-day winning streak. The Dow Jones Industrial Average was up 19 points, or 0.1%, as of 12:32 p.m. Eastern time. The Nasdaq composite was up less than 0.1%. Trading volume was lighter than usual as U.S. markets reopened after the Christmas holiday. Chip company Broadcom rose 2.9%, Intel was up 0.7% and Apple gained 0.4%. While tech stocks overall were in the green, some heavyweights were a drag on the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.2%. Meta Platforms fell 0.9%, Amazon was down 0.5%, and Netflix gave up 1.4%. Health care stocks also helped lift the market. CVS Health rose 1.9% and Walgreens Boots Alliance rose 3.3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 2.9%, Best Buy was up 2.1% and Dollar Tree gained 2.2%. U.S.-listed shares in Honda and Nissan rose 4.1% and 15.8%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to combine. Traders got a labor market update. U.S. applications for unemployment benefits held steady last week , though continuing claims rose to the highest level in three years, the Labor Department reported. Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.61% from 4.59% late Tuesday. Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia. Trading was expected to be subdued this week with a thin slate of economic data on the calendar. Still, U.S. markets have historically gotten a boost at year’s end despite lower trading volumes. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Even so, the U.S. market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up roughly 26% so far this year and remains near its most recent all-time high it set earlier this month — its latest of 57 record highs this year. Wall Street has several economic reports to look forward to next week, including updates on pending home sales and home prices, a report on U.S. construction spending and snapshots of manufacturing activity. AP Business Writers Elaine Kurtenbach and Matt Ott contributed.