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Stock market today: Wall Street stays mixed, bond yields rise after Fed

Published Wed, 26 Feb 2025 05:17:34 GMT

NEW YORK (AP) — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it.The S&P 500 was 0.1% higher in afternoon trading after briefly turning lower shortly after the announcement. The Dow Jones Industrial Average was up 216 points, or 0.6%, at 34,734, as of 2:36 p.m. Eastern time, and the Nasdaq composite was 0.1% lower.The Fed held its main interest rate steady, as was widely expected. Officials also indicated they may raise the federal funds rate one more time this year, as the Fed tries to get inflation back down to its target of 2%.Perhaps more importantly for the market, Fed officials also suggested they may cut rates next year by only half a percentage point. Three months ago, they were penciling in a full percentage point of cuts in 2024. Treasury yields in the bond market immediately turned higher after the Fed released its projections. They had a...

Gates Foundation commits $200 million to pay for medical supplies and contraception

Published Wed, 26 Feb 2025 05:17:34 GMT

NEW YORK (AP) — The Bill & Melinda Gates Foundation pledged $200 million to help save the lives of mothers and children during child birth, as the largest American philanthropic donor throws its weight behind the issue during the nonprofit’s annual Goalkeepers conference on the sidelines of the U.N. General Assembly. Melinda French Gates, who says the issue is personal to her, smiled broadly as she introduced herself not just as the co-founder and co-chair of the foundation but as “Nona,” or grandmother, gesturing to her oldest daughter, Jennifer, who was seated in the audience in New York on Wednesday. The foundation pledged $100 million each to health products manufacturer Unitaid, and UNFPA, the U.N. agency for reproductive health, to fund access to health care and contraceptive supplies and information in low- and middle-income countries. The Gates Foundation has been a major supporter of Unitaid, donating $50 million in each 2012 and 2017, according to the foundation&...

Woman rescued from outhouse toilet after climbing in to retrieve Apple Watch, Michigan police say

Published Wed, 26 Feb 2025 05:17:34 GMT

BAGLEY TOWNSHIP, Mich. (AP) — A woman was rescued Tuesday from an outhouse toilet in northern Michigan after she climbed in to retrieve her Apple Watch and became trapped.The woman, whose name was not released, lowered herself inside the toilet after dropping the watch at the Department of Natural Resources boat launch at Dixon Lake in Otsego County’s Bagley Township, state police said Wednesday in a release.First responders were called when the woman was heard yelling for help. The toilet was removed and a strap was used to haul the woman out.“If you lose an item in an outhouse toilet, do not attempt to venture inside the containment area. Serious injury may occur,” state police said in the release.The state police did not say Wednesday if the woman was injured or if the watch was recovered.Bagley Township is about 240 miles (386 kilometers) northwest of Detroit.The Associated Press

Ohio’s political mapmakers are going back to work after Republican infighting caused a week’s delay

Published Wed, 26 Feb 2025 05:17:34 GMT

COLUMBUS, Ohio (AP) — The Ohio Redistricting Commission was set to get back to business Wednesday after two Republican legislative leaders who may be rivals for the House speakership next year settled a political dispute that delayed the time-crunched panel’s work by a week.Republican Ohio Gov. Mike DeWine had reconvened the commission Sept. 13, but he was unable to do anything more than swear in its members — himself, two other statewide officeholders and four state lawmakers — because Republicans were without a co-chair. Indecision persisted, so the governor also canceled a second attempted meeting he had set for that Friday.DeWine set the next meeting for Wednesday afternoon, then he came down with COVID-19 — precluding him from pinch-hitting as chair while Senate President Matt Huffman and House Speaker Jason Stephens came to some agreement.Hours before the meeting was set to begin, Huffman and Stephens announced their decision. They designated a seemingly neutral third pa...

Biden and Brazil’s Lula focus on workers’ rights, while publicly playing down differences

Published Wed, 26 Feb 2025 05:17:34 GMT

NEW YORK (AP) — President Joe Biden and his Brazilian counterpart, Luiz Inácio Lula da Silva, focused on workers’ rights as the leaders of the Western Hemisphere’s largest democracies met Wednesday in New York.But a new partnership committed to labor rights comes amid differences between the presidents over Russia’s war in Ukraine, the U.S. embargo of Cuba and other issues. Still, Biden and Lula, in remarks to reporters, were eager to display their common goals at the start of their meeting on the sidelines of the U.N. General Assembly.Biden sought to tie the meeting to domestic matters. Long a champion of labor unions, Biden is navigating strikes in the U.S. by autoworkers, screenwriters and actors who are seeking better pay and protections in a changing global economy. He has declined the request by the United Auto Workers leader to join the picket line.“When the middle does well, everybody does well,” Biden told Lula. “Working-class folks have a chance to move up. And...

A man shot by police while firing a rifle to celebrate a new gun law has been arrested, police say

Published Wed, 26 Feb 2025 05:17:34 GMT

MIAMI (AP) — A South Florida man who was shot by police as he fired a rifle into the air to celebrate the state’s new open-carry gun law has been booked into jail after spending more than two months in the hospital, authorities said.The 37-year-old old man was booked into the Miami-Dade County jail on Friday on 53 total charges, including felony counts of assault with a deadly weapon, resisting an officer with violence and possession of a short-barrel rifle, and 48 misdemeanor counts of discharging a weapon in public, according to court records. Officers responded to an apartment complex on July 7 where they found a man in body armor firing a gun into the air, according to a Miami police arrest report. Witnesses later told officers that the man claimed he was celebrating the new law that went into effect on July 1.An officer ordered the man to stop shooting and show his hands, but the man tried to run away, police said. The man turned his body toward the officer while trying t...

Nearly 100 migrants rescued from a yacht off southwestern Greece

Published Wed, 26 Feb 2025 05:17:34 GMT

ATHENS, Greece (AP) — Nearly 100 migrants were safely evacuated Wednesday from a yacht reported to be in difficulty off the southwestern coast of Greece, authorities said.The coast guard said in a statement that the yacht carrying 93 people was located about 40 nautical miles (46 miles, 74 kilometers) west of the small town of Pylos. There were no reports of missing passengers.Six of the people on board were picked up by another yacht in the area and taken to Pylos, where one woman was transferred to a hospital in the southern city of Kalamata.Another 87 people were picked up by two passing tanker ships and transported to Kalamata escorted by coast guard patrol vessels, the statement said.The area is near where a deadly migrant shipwreck in June left hundreds of people dead and missing and led to allegations that Greek authorities failed to respond appropriately to rescue the passengers. The overcrowded trawler had set sail from Libya with an estimated 500-700 people on board. Only ...

Ukraine, Russia and the tense U.N. encounter that almost happened – but didn’t

Published Wed, 26 Feb 2025 05:17:34 GMT

UNITED NATIONS (AP) — It was a moment the diplomatic world was watching for — but didn’t get. In the end, Ukrainian President Volodymyr Zelenskyy and Russian Foreign Minister Sergey Lavrov avoided staring each other down Wednesday across the U.N. Security Council’s famous horseshoe-shaped table. Zelenskyy left before Lavrov arrived.The near-miss was somewhat to be expected. Yet the moment still spoke to the U.N.’s role as a venue where warring nations can unleash their ire through words instead of weapons. The choreography also underscored the world body’s reputation as a place where adversaries sometimes literally talk past each other. Zelenskyy denounced Russia as “a terrorist state” while Russian Ambassador Vassily Nebenzia sat facing him near the other end of the table’s arc. As Zelenskyy launched into his remarks, the Russian briefly looked at his phone, then tucked the device away. Zelenskyy left before Lavrov’s arrival, which came as U.S. S...

Woman found dead in South Side garage was strangled; death ruled a homicide: autopsy

Published Wed, 26 Feb 2025 05:17:34 GMT

CHICAGO — The death of a woman found unresponsive in the city's Grand Crossing neighborhood has been ruled a homicide.The 30-year-old woman, identified as Sierra Jamison, was found in a garage on the the 7800 block of South Indiana around 6:30 p.m. Monday. She was pronounced dead on the scene.An autopsy revealed Jamison died of strangulation and her death was ruled a homicide. Police: Romeoville murders of 4 family members was not random No further details have been provided at this time.

Police: Man holding knife to woman in suburban basement shot by officers

Published Wed, 26 Feb 2025 05:17:34 GMT

ROUND LAKE, Ill. — A man holding a knife to a woman inside a Round Lake basement was shot by officers Tuesday night during a hostage situation, according to police.At around 6:35 p.m., Round Lake officers were dispatched to a home in the 700 block North Park Road. A 911 caller told police they were needed but hung up before additional questions were asked.Officers at the scene were told a woman in the basement of the home needed help.Round Lake officers approached a basement door, where a 33-year-old man and a 30-year-old woman lived in a garden unit, and could hear what sounded like people, according to police.As officers attempted to make contact, a cop outside saw the man holding a knife to the woman's neck from a basement window. Police said they tried to de-escalate the situation, but the man continued holding the knife to the woman and refused to let her go.A regional SWAT team was dispatched to the scene. Members of the SWAT team also attempted to de-escalate the situation. A...