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Stock market today: Wall Street rises ahead of updates on U.S. shoppers

Published Wed, 26 Feb 2025 08:45:22 GMT

NEW YORK (AP) — Wall Street is edging higher Monday ahead of reports that will show how much a slowing economy is hurting what’s prevented a recession so far: solid spending by U.S. households.The S&P 500 rose 0.4% in its first trading after closing out a second straight down week. The Dow Jones Industrial Average was up 85 points, or 0.3%, to 33,385, as of 1:12 p.m. Eastern time, while the Nasdaq composite was 0.7% higher.Some of the sharper moves came from companies announcing takeovers of rivals, including an 8.1% drop for energy company Oneok after it said it’s buying Magellan Midstream Partners. Magellan jumped 14.2%. But the larger market was relatively quiet as several concerns continue to drag on Wall Street.Chief among them is the fear of a recession hitting later this year, in large part because of high interest rates meant to knock down inflation. But concerns are also rising about cracks in the U.S. banking system and the U.S. government’s inching toward a possible d...

Green Party deputy leader to run in upcoming Montreal byelection

Published Wed, 26 Feb 2025 08:45:22 GMT

OTTAWA — Green Party deputy leader Jonathan Pedneault is planning to run for a seat in the House of Commons in an upcoming byelection in Montreal’s Notre-Dame-de-Grâce—Westmount riding.The 32-year-old ran on a joint ticket to share the party leadership in November with longtime member of Parliament Elizabeth May. The party’s constitution has not yet been changed to make the pair co-leaders so Pedneault is the deputy leader.The Notre-Dame-de-Grâce—Westmount seat was created in 2015 and the area has long been considered a Liberal stronghold.It was last held by Liberal MP Marc Garneau, who announced his retirement earlier this year.A victory for Pedneault in the June 19 vote would see him join May and Mike Morrice as Green Party MPs in Ottawa.This report by The Canadian Press was first published May 15, 2023. The Canadian Press

Biden chooses cancer expert to lead National Institutes of Health

Published Wed, 26 Feb 2025 08:45:22 GMT

WASHINGTON (AP) — President Joe Biden announced Monday that he plans to nominate cancer specialist Dr. Monica Bertagnolli to become director of the National Institutes of Health.Bertagnolli is a cancer surgeon and researcher who last fall became the first female head of the NIH’s National Cancer Institute. If confirmed by the Senate, she would become the second woman named permanent director of the NIH, one of the world’s leading biomedical research agencies.“Dr. Bertagnolli has spent her career pioneering scientific discovery and pushing the boundaries of what is possible to improve cancer prevention and treatment,” Biden said in a statement. She “will ensure NIH continues to be an engine of innovation to improve the health of the American people.”Bertagnolli also would bring a patient’s perspective to the job. Shortly after becoming NCI director, she was diagnosed with early-stage breast cancer.“It’s one thing to know about cancer as a physician but it is another to experience it ...

Brandon Johnson sworn in as Chicago's 57th mayor

Published Wed, 26 Feb 2025 08:45:22 GMT

CHICAGO — Chicago will get a new mayor Monday when Mayor-elect Brandon Johnson is sworn in.Johnson will arguably be the most progressive mayor Chicagoans have elected. He will become the 57th mayor and the leader of America's third-largest city. WATCH: Chicago Mayor Lori Lightfoot leaves city hall for last time His administration will face several challenges on day one, including choosing a new police superintendent and coming up with a plan to fight violence, which normally spikes during the upcoming Memorial Day weekend and summer. On Saturday, Brandon Johnson resigned as a Cook County Commissioner. His full resignation letter is below. “Today, I announced my resignation from the Cook County Board of Commissioners. As excited as I am about my future as mayor of Chicago, I am also sobered and humbled to be leaving my constituents and colleagues on the Board, because together, we have done so much important work to transform Cook County government.“...

Police search for man in connection to Gresham home invasion

Published Wed, 26 Feb 2025 08:45:22 GMT

CHICAGO — Police are searching for a man in connection to home invasion that took place in Auburn Gresham Sunday. Police reported of a home invasion in the 8300 block of South Peoria Avenue. Chicago police released a video of the suspect. If any information is recovered, contact detectives at (312)- 747- 8273.

2 in South Carolina facing charges after drugs found hidden in rubber pregnancy belly

Published Wed, 26 Feb 2025 08:45:22 GMT

ANDERSON COUNTY, S.C. (WSPA) - The Anderson County Sheriff's Office said two people are facing drug charges following a traffic stop.According to the sheriff's office, deputies initiated the traffic stop along I-85 while conducting proactive patrol.Deputies pulled over Anthony Miller and Cemeka Mitchem.Deputies said the first red flag began when the two gave conflicting information about her "due date."Officials say as Mitchem realized deputies were becoming more suspicious of the conflicting story, she took off running and drugs fell from the fake rubber stomach.Deputies collected more than 1500 grams of cocaine.Miller and Mitchem are facing trafficking cocaine charges.

Mayor Johnson's progressive strategy to be tested amid public safety, growth concerns

Published Wed, 26 Feb 2025 08:45:22 GMT

CHICAGO (AP) — Brandon Johnson was officially sworn into Chicago's mayoral office on Monday, facing an influx of migrants in desperate need of shelter, pressure to build support among skeptical business leaders, and summer months that historically bring a spike in violent crime.Progressives viewed Johnson’s election as evidence that bold stances lead to victory at the ballot box. Now, his first term leading the nation’s third-largest city will test the former union organizer’s ability to turn those proposals into solutions for stubborn problems worsened by the coronavirus pandemic, including public safety, economic growth and housing affordability.“There’s no honeymoon in mayoral politics or city governments,” said Dan Gibbons, CEO of the City Club of Chicago and a former staffer for the city’s longest-serving mayor, Richard M. Daley. “Everyone has your phone number, you get the blame and you don’t get the credit.” A decade before his election, Brandon Johnson foreshadowed his own...

A lunchtime tradition returns to Chicago's Daley Plaza in 2023

Published Wed, 26 Feb 2025 08:45:22 GMT

CHICAGO — A recent tradition that sets up shop in the heart of The Loop is making its return this week. The Chicago Food Truck Festival gets underway this Friday as a variety of vendors will gather at Daley Plaza, 50 West Washington Street, to sell their culinary offerings to those downtown. They It will run from 11 a.m. to 3 p.m. on Fridays starting on May 19 and running through October 6. Entering its eighth year, a group of rotating food trucks will be featured weekly near the Picasso statue as a way to showcase the many different cuisines that the city has to offer. It features everything from BBQ to tacos with the hopes that many will make their way to Daley Plaza for lunch to end their week.“The seasonal Chicago Food Truck Fest has become a Friday staple in Chicago’s downtown neighborhood,” said Chicago Department of Business Affairs and Consumer Protection Kenneth J. Meyer in a statement. “The purpose of the fest is to support small businesses, our food truck industry, while ...

New company giving away free TVs. Here's how to get one

Published Wed, 26 Feb 2025 08:45:22 GMT

(WXIN) -- It sounds too good to be true, but a startup company wants to give you a free television.Is there a catch?Of course, there is. The television is ad-supported. The bet is that the ads will subsidize a sustainable business.Telly is the brainchild of Ilya Pozin, the co-founder of Pluto TV, a free ad-supported streaming television service.Telly plans to give away free 55-inch TVs as part of a unique dual-screen setup with an integrated soundbar. The 4K HDR main set includes HDMI and USB inputs, along with a tuner for over-the-air channels. The “smart screen” at the bottom can display ads, news, sports scores, weather, stocks and more.The first 500,000 sets will ship to customers this summer. The signup for those interested includes a survey asking you about your interests, income level, housing situation, shopping habits and more. Pop acts sing for glory at Eurovision Song Contest in Liverpool, with Ukraine in spotlight The TV includes microphones for voice commands and an...

78-year-old US citizen sentenced to life on spying charges in China

Published Wed, 26 Feb 2025 08:45:22 GMT

(The Hill) -- China sentenced a 78-year-old U.S. citizen to life in prison on spying charges Monday after the man was detained more than two years ago.John Shing-Wan Leung, who also holds a permanent residence in Hong Kong, was detained by China’s counterintelligence agency in Suzhou, a city in the east of China, on April 15, 2021, according to a post on the city’s website. The details of the charges against him were not released.Authorities also confiscated around $70,000 of Leung’s personal property, according to the city.The sentencing of Leung comes as tensions between China and the U.S. continue to flare. President Joe Biden is set to visit Japan later this week, also making stops in Papua New Guinea, an island in the Pacific Ocean that China has targeted in increasing its influence. Supreme Court to take up Trump DC hotel dispute The U.S. Embassy in Beijing said it was aware of the sentencing but could not comment further, according to The Associated Press.“The Department ...