Irish Government doubted UK campaign to ‘save David’ Trimble
AP Trending SummaryBrief at 5:39 p.m. ESTNew Channel 4 documentary shows how mobile phones are putting children in danger
NEW YORK (AP) — U.S. stock indexes got back to climbing on Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve . 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. AP Writers Matt Ott and Zimo Zhong contributed.
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No. 9 Oregon led for all but the first minute of the game, shooting 55 percent from the field in an 89-49 victory over Weber State in the final nonconference game for both teams Sunday in Eugene, Ore. The Ducks (12-1) have won three consecutive games since losing at home to UCLA in a Big Ten game three weeks ago. Weber State (6-8) heads into Big Sky play having lost four of its last six games. Oregon had five scorers in double figures, led by Jackson Shelstad, who had 16 points on 7-of-10 shooting from the field. Brandon Angel made all five of his field-goal attempts, including a 3-pointer, and all three of his free-throw tries for 14 points. He also had seven rebounds. Jadrian Tracey made four of five of his shots from beyond the arc and finished with 14 points for the Ducks. TJ Bamba had 10 points and seven rebounds and Kwame Evans Jr. finished with 10 points. Blaise Threatt was Weber State's lone scorer in double figures with 15 points. Weber State shot 33.3 percent from the field and a paltry 13.6 percent from 3-point range. Oregon made 40.9 percent of its shots from beyond the arc. The Wildcats had 18 turnovers that led to 27 points for Oregon. The only time Oregon trailed was 2-0 before Shelstad made a 3-pointer with 18:49 left in the first half that ignited a 14-2 run. Oregon later outscored Weber State 21-6 in a nearly 10-minute stretch to take a 35-15 lead with 2:35 left in the half. The Ducks led 40-23 at halftime. Shelstad led the hosts with nine points. The Ducks opened the second half scoring the first 10 points, seven by Angel. After missing its first five shots from the field in the second half, Weber State scored on a Dyson Koehler layup with 16:56 remaining, cutting the lead to 50-25. The Wildcats went on a 10-1 run to get within 60-40 with 10:09 left. Oregon then pulled away with a 9-2 run, with Bamba scoring four of the points. --Field Level MediaBaltimore Rep. Kweisi Mfume won’t attend Trump inauguration, citing MLK DayJan Suraj chief Prashant Kishore joined the aspirants of the Bihar Public Service Commission (BPSC) in their protest in Gandhi Maidan on Sunday. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for The BPSC aspirants continue their protest demanding a re-exam to be held for the 70th BPSC prelims. Meanwhile, accusing the Bihar government of turning democracy into " lathi-tantra ," Kishore emphasised the right to protest of the students in public spaces. Speaking to the media, Kishore said, "We are not going for a protest. Students are sitting there, we are going to meet them. Gandhi Maidan is a public place, people go there every day. If the students do not have any place, they will go to a public place. I don't know why the government has made it a question of its prestige, somewhere they are harming themselves." Kishore further added, "Bihar is the mother of democracy and if the students here do not have the right to speak their minds, then this is becoming a 'lathi-tantra'... that's why we are with the students." 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On Saturday, Delhi Police detained members of the Students' Federation of India (SFI) who were protesting outside Bihar Bhawan in Delhi against the police lathi charge on BPSC aspirants in Patna. The protesting students in Patna are demanding the cancellation of the Integrated Combined (Preliminary) Competitive Examination (CCE) 2024 conducted by the Bihar Public Service Commission (BPSC) on December 13. (ANI) (You can now subscribe to our Economic Times WhatsApp channel )Weekly Market Wrap: Nigerian stock market gains 0.99% as insurance stocks shine, IKEJA HOTEL tops gainers
All three major US indices scored records, with the Dow Jones Industrial Average finishing above 45,000 for the first time. "The market at this point is looking for excuses to go up, and there's not really anything that might work against that narrative," said Steve Sosnick of Interactive Brokers. "Over the last couple of days, it's managed to ignore all sorts of inconvenient things and decided that the situation in France doesn't matter for them," Sosnick said of the stock market. "The situation in Korea doesn't matter." South Korea's stock market fell less than feared and the won rebounded from earlier losses after President Yoon Suk Yeol swiftly reversed a decision to impose martial law. In Europe, Paris stocks managed to advance as France's government faced looming no-confidence votes. Late Wednesday in Paris, French lawmakers voted to oust the government of Prime Minister Michel Barnier after just three months in office, pushing the country further into political uncertainty. For the first time in over sixty years, the National Assembly lower house toppled the incumbent government, approving a no-confidence motion that had been proposed by the hard left but which crucially was backed by the far-right headed by Marine Le Pen. "Political turmoil in both France and South Korea provide a uncertain backdrop for global markets, with the likely removal of both Barnier and Yoon bringing the potential for both countries to find a fresh direction," said Joshua Mahony, chief market analyst at Scope Markets. Thomas Mathews, head of Asia-Pacific markets at Capital Economics, said the losses in Seoul could have been "much worse" had the president not aborted his plan. "Rarely does a combined sell-off in a country's stocks, bonds and currency feel like a relief rally," he said. Oil prices turned lower after surging around 2.5 percent Tuesday, mainly after the United States sanctioned 35 companies and ships it accused of involvement with Iran's "shadow fleet" illicitly selling Iranian oil to foreign markets. Major producers at the OPEC+ grouping led by Saudi Arabia and Russia were set to meet Thursday to discuss extending output limits. Back in New York, major indices were led by the Nasdaq, which piled on 1.3 percent to finish at a third straight record. Wednesday's gains came after payroll firm ADP said US private-sector hiring in November came in at a lower-than-expected 146,000 jobs, while a survey from the Institute for Supply Management showed weaker sentiment than expected in the services sector. But the lackluster data boosts expectations that the Federal Reserve will cut interest rates later this month. At a New York conference, Federal Reserve Chair Jerome Powell refrained from tipping his hand, but he "didn't say anything that would scare the market," said Briefing.com analyst Patrick O'Hare. O'Hare noted that Wednesday's gains were led by large tech names such as Nvidia and Microsoft, which are major AI players. The boost followed strong results from Salesforce, which was the biggest gainer in the Dow with an 11 percent jump. New York - Dow: UP 0.7 percent at 45,014.04 (close) New York - S&P 500: UP 0.6 percent at 6,086.49 (close) New York - Nasdaq Composite: UP 1.3 percent at 19,735.12 (close) London - FTSE 100: DOWN 0.3 percent at 8,335.81 (close) Paris - CAC 40: UP 0.7 percent at 7,303.28 (close) Frankfurt - DAX: UP 1.1 percent at 20,232.14 (close) Seoul - Kospi Index: DOWN 1.4 percent at 2,464.00 (close) Tokyo - Nikkei 225: UP 0.1 percent at 39,276.39 (close) Hong Kong - Hang Seng Index: FLAT at 19,742.46 (close) Shanghai - Composite: DOWN 0.4 percent at 3,364.65 (close) Euro/dollar: UP at $1.0510 from $1.0509 on Tuesday Pound/dollar: UP at $1.2702 from $1.2673 Dollar/yen: UP at 150.56 yen from 149.60 yen Euro/pound: DOWN at 82.71 from 82.92 pence Brent North Sea Crude: DOWN 1.8 percent at $72.31 per barrel West Texas Intermediate: DOWN 2.0 percent at $68.54 per barrel burs-jmb/jgcAP Business SummaryBrief at 4:20 p.m. EST
Donald Trump will ring the New York Stock Exchange bell as he's named Time's Person of the YearNeedham analyst Gerald Pascarelli initiated coverage on Celsius Holdings, Inc. (NASDAQ: CELH ) with a Buy rating and a price target of $38 . The analyst says that as the third-largest player in energy drinks, CELH is positioned to benefit from a healthier category rebound and growing demand for zero-sugar products, creating a favorable environment for revenue acceleration alongside easier year-over-year comparisons. The analyst writes that while the company recently saw its first year-over-year share loss, they are encouraged by the category’s return to a high single-digit growth rate. If this trend continues, CELH stands to benefit from a healthier market backdrop, easier comps, and upcoming innovations planned for 2025, adds the analyst. Additionally, inventory optimization challenges appear to be resolving, which should improve alignment between sell-through and reported results. The analyst estimates full year 2024 revenue and EPS of $1.365 billion and $0.68 and $1.548 billion and $0.93 in fiscal year 2025, respectively. Last month, the company reported third-quarter earnings per share of $0.00, missing the street view of $0.04. Quarterly sales of $265.70 million (down 31%) missed the analyst consensus of $267.11 million . Is Celsius Holdings A Good Stock To Buy? An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages – like Celsius Holdings ‘s page for example – there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter. These are known as capital allocation programs. Celsius Holdings does not pay a dividend, but obviously has a few ways it can return value to shareholders. Feel free to search Benzinga's dividend calendar for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company. For example, if you're looking to earn an annualized return of 14.2%, you'll need to buy a share of Ellington Residential by the Dec. 31, 2024. Once done, you can expect to receive a nominal payout of $0.08 on Jan. 27, 2025. Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on Celsius Holdings will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand. Price Action : CELH shares are up 0.17% at $27.94 at the last check on Friday. Read Next : Chevron Eyes $15.5 Billion Capex for 2025, Anticipates Upto $1.5 Billion Charges In Q4 Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? CELSIUS HOLDINGS (CELH): Free Stock Analysis Report This article Energy Drink Firm Celsius Set to Energize Market Growth, Analyst Sees Significant Upside originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.MongoDB Announces Expansion of the MongoDB AI Applications Program
Apple's latest iPhones get the gift of more AI as holiday shopping season heats upNehemiah Benson scores 28 and Binghamton defeats LIU 75-70 in OT
Parcion Private Wealth LLC reduced its holdings in shares of Amazon.com, Inc. ( NASDAQ:AMZN ) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 63,528 shares of the e-commerce giant’s stock after selling 331 shares during the period. Amazon.com makes up 1.0% of Parcion Private Wealth LLC’s holdings, making the stock its 21st biggest holding. Parcion Private Wealth LLC’s holdings in Amazon.com were worth $11,837,000 as of its most recent filing with the Securities & Exchange Commission. Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. Capital Research Global Investors increased its holdings in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Legal & General Group Plc increased its holdings in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Finally, Capital International Investors increased its holdings in Amazon.com by 7.4% in the 1st quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock worth $7,642,732,000 after purchasing an additional 2,932,192 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors. Analysts Set New Price Targets A number of brokerages have issued reports on AMZN. Scotiabank upped their target price on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a research note on Monday, October 7th. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Robert W. Baird increased their price target on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Susquehanna increased their price target on Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $236.20. Insiders Place Their Bets In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link . Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders sold 6,026,683 shares of company stock valued at $1,252,148,795 over the last ninety days. 10.80% of the stock is currently owned by insiders. Amazon.com Stock Performance Shares of Amazon.com stock opened at $207.89 on Friday. The business’s fifty day simple moving average is $194.78 and its 200 day simple moving average is $186.94. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 12 month low of $142.81 and a 12 month high of $215.90. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com ( NASDAQ:AMZN – Get Free Report ) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. As a group, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year. About Amazon.com ( Free Report ) Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content. Featured Articles Want to see what other hedge funds are holding AMZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amazon.com, Inc. ( NASDAQ:AMZN – Free Report ). 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The Latest: Former President Jimmy Carter is dead at age 100Scott Gillingham. Wab Kinew. A battle on the ice for hockey supremacy. The Manitoba premier is set to face off against Winnipeg's mayor on Nov. 30 to mark Winnipeg's 150th anniversary. Gillingham, councillors, and members of Winnipeg's Public Service will hit the ice against Kinew, MLAs, and provincial staff in a friendly competition. "I can't promise the hockey will be pretty, but municipal government is about being scrappy and digging hard in the corners. We're going to give it 110 per cent and stick to the game plan," Gillingham said in a news release. This matchup is meant to recreate a game from 50 years ago when then-mayor Stephen Juba and his City Fathers team battled former premier Edward Schreyer and his Golden Boys. An old poster for a hockey game between former mayor Stephen Juba and his City Fathers team and former premier Edward Schreyer and his Golden Boys. Uploaded Nov. 21, 2024. (Winnipeg Archives) "I'm excited to face off with the mayor and his team to celebrate Winnipeg's 150th anniversary in front of a packed barn full of the best fans in the NHL – Manitobans," said Kinew in a news release. The two teams will clash at the Gateway Recreation Centre at 1717 Gateway Rd. Puck drop is at 11:15 a.m., admission is free, and the first 250 people to show up will get free hotdogs and drinks. The city is also encouraging people to bring non-perishable food items to donate to Manitoba Harvest.
EASTON, Pa. (AP) — Nehemiah Benson's 28 points helped Binghamton defeat LIU 75-70 in overtime on Saturday. Benson had seven rebounds for the Bearcats (3-6). Tymu Chenery shot 7 for 12, including 3 for 5 from beyond the arc to add 18 points. Wes Peterson had 10 points and shot 3 of 4 from the field and 4 for 6 from the line. Gavin Walsh's layup with 2 seconds remaining in regulation tied it for Binghamton. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekCHAMBERS COUNTY, Texas (KTRK) -- Another TikTok challenge is going viral, but authorities are warning that the prank isn't so innocent. The Chambers County Sheriff's Office said deputies are investigating reports of the "door-kicking challenge." The idea is that videos will gain traction online if users participate in kicking strangers' doors as a prank while recording for social media. Authorities said the trend is disruptive and can lead to serious consequences. The sheriff's office worries that homeowners may mistake the prank as an attempted burglary, leading to defensive actions that put lives at risk. Parents are encouraged to talk to their children about the dangers of reckless trends on social media. Deputies urge residents to "be vigilant and report suspicious behavior to law enforcement." "This is not a harmless prank. It's reckless, unlawful, and could have life-altering consequences. Let's work together to keep Chambers County safe," the sheriff's office said. SEE MORE: Teens involved in alleged assault of 2 men for TikTok 'prank' chargedNEW YORK (AP) — Donald Trump used his image as a successful New York businessman to become a celebrity, a reality television star and eventually the president. Now he will get to revel in one of the most visible symbols of success in the city when he rings the opening bell of the New York Stock Exchange on Thursday as he's also named Time Magazine's Person of the Year. Trump is expected to be on Wall Street to mark the ceremonial start of the day's trading, according to four people with knowledge of his plans. He will also be announced Thursday as Time's 2024 Person of the Year , according to a person familiar with the selection. The people who confirmed the stock exchange appearance and Time award were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity. It will be a notable moment of twin recognitions for Trump, a born-and-bred New Yorker who at times has treated the stock market as a measure of public approval and has long-prized signifiers of his success in New York's business world and his appearances on the covers of magazines — especially Time. Trump was named the magazine's Person of the Year in 2016, when he was first elected to the White House. He had already been listed as a finalist for this year's award alongside Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, the Princess of Wales. Time declined to confirm the selection ahead of Thursday morning's announcement. “Time does not comment on its annual choice for Person of the Year prior to publication,” a spokesperson for the magazine said Wednesday. The ringing of the bell is a powerful symbol of U.S. capitalism — and a good New York photo opportunity at that. Despite his decades as a New York businessman, Trump has never done it before. It was unclear whether Trump, a Republican, would meet with New York's embattled mayor, Democrat Eric Adams , who has warmed to Trump and has not ruled out changing his political party. Adams has been charged with federal corruption crimes and accused of selling influence to foreign nationals; he has denied wrongdoing. Trump himself was once a symbol of New York, but he gave up living full-time in his namesake Trump Tower in Manhattan and moved to Florida after leaving the White House. CNN first reported Wednesday Trump’s visit to the stock exchange and Politico reported that Trump was expected to be unveiled as Time's Person of the Year. The stock exchange regularly invites celebrities and business leaders to participate in the ceremonial opening and closing of trading. During Trump’s first term, his wife, Melania Trump, rang the bell to promote her “Be Best” initiative on children’s well-being. Last year, Time CEO Jessica Sibley rang the opening bell to unveil the magazine's 2023 Person of the Year: Taylor Swift . After the Nov. 5 election, the S&P 500 rallied 2.5% for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes topped records they had set in recent weeks. The U.S. stock market has historically tended to rise regardless of which party wins the White House, with Democrats scoring bigger average gains since 1945. But Republican control could mean big shifts in the winning and losing industries underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favors will mean. Trump has long courted the business community based on his own status as a wealthy real estate developer who gained additional fame as the star of the TV show “The Apprentice” in which competitors tried to impress him with their business skills. He won the election in part by tapping into Americans' deep anxieties about an economy that seemed unable to meet the needs of the middle class. The larger business community has applauded his promises to reduce corporate taxes and cut regulations. But there are also concerns about his stated plans to impose broad tariffs and possibly target companies that he sees as not aligning with his own political interests. Trump spends the bulk of his time at his Florida home but was in New York for weeks this spring during his hush money trial there. He was convicted, but his lawyers are pushing for the case to be thrown out in light of his election. While he spent hours in a Manhattan courthouse every day during his criminal trial, Trump took his presidential campaign to the streets of the heavily Democratic city, holding a rally in the Bronx and popping up at settings for working-class New Yorkers: a bodega, a construction site and a firehouse. Trump returned to the city in September to meet with Ukrainian President Volodymyr Zelenskyy at his Manhattan tower and again in the final stretch of the presidential campaign when he held a rally at Madison Square Garden that drew immediate blowback as speakers made rude and racist insults and incendiary remarks . At the stock exchange, the ringing of the bell has been a tradition since the 1800s. The first guest to do it was a 10-year-old boy named Leonard Ross, in 1956, who won a quiz show answering questions about the stock market. Many times, companies listing on the exchange would ring the bell at 9:30 a.m. to commemorate their initial offerings as trading began. But the appearances have become an important marker of culture and politics -- something that Trump hopes to seize as he’s promised historic levels of economic growth. The anti-apartheid advocate and South African President Nelson Mandela rang the bell, as has Hollywood star Sylvester Stallone with his castmates from the film “The Expendables.” So, too, have the actors Robert Downey Jr. and Jeremy Renner for an “Avengers” movie and the Olympians Michael Phelps and Natalie Coughlin. In 1985, Ronald Reagan became the first sitting U.S. president to ring the bell. “With tax reform and budget control, our economy will be free to expand to its full potential, driving the bears back into permanent hibernation,” Reagan said at the time. “We’re going to turn the bull loose.” The crowd of traders on the floor chanted, “Ronnie! Ronnie! Ronnie!” The Dow Jones Industrial Average climbed in 1985 and 1986, but it suffered a decline in October 1987 in an event known as “Black Monday.” Long reported from Washington. Associated Press writer Josh Boak in Washington contributed to this report.
Trump taps forceful ally of hard-line immigration policies to head Customs and Border ProtectionAfter another close loss, No. 14 Gonzaga opens WCC play at PepperdinePresident-elect Donald Trump reiterated his support for his pick to lead the Department of Defense, saying "Pete Hegseth is doing very well." He will be a fantastic, high energy, Secretary of Defense...Pete is a WINNER, and there is nothing that can be done to change that!!!" Trump wrote in a post on his Truth Social media platform on Friday. Hegseth's Nomination Hegseth, a former Fox News host, Army National Guard major and combat veteran, spent the week on Capitol Hill working to secure his Cabinet nomination. Behind closed doors, he sought to reassure Republican senators of his qualifications to lead Trump's Pentagon . Hegseth's confirmation by the Senate remains uncertain amid scrutiny over allegations of excessive drinking, sexual assault and his controversial views on women serving in combat roles. The contentious nomination of Hegseth has become more than a debate over who should lead the Pentagon, and it underscores a conservative push for a more traditionally masculine military while targeting diversity, equity and inclusion initiatives. Trump's allies have mounted a vigorous defense of Hegseth, including the Heritage Foundation's political arm, which has pledged $1 million to bolster his embattled nomination. Meanwhile, Hegseth has vowed to remain in the fight as long as the president-elect supports him. "We're going to earn those votes," Hegseth said in Washington D.C. this week. "As long as Donald Trump wants me in this fight, I'm going to be standing right here." The fight over Hegseth's nomination has also been seen by some observers as a test of Trump's influence and the limits of loyalty among Republican senators grappling with concerns over his picks. Two of Trump's earlier nominees have already withdrawn under intense scrutiny: former Congressman Matt Gaetz , his initial choice for attorney general, and Florida Sheriff Chad Chronister, who was tapped to head the Drug Enforcement Administration. Views of Hegseth Donald Trump Jr., the president-elect's son, voiced support for Hegseth this week, saying on social media that "if you're a GOP Senator who voted for [current Defense Secretary] Lloyd Austin , but criticize @PeteHegseth, then maybe you're in the wrong political party!" Hegseth has assured lawmakers he would abstain from drinking while in office and denied any allegations of sexual misconduct. However, his professional stance on female service members has faced mounting criticism, particularly after he stated last month that women "straight up" should not serve in combat roles. Hegseth secured a key endorsement from Republican Senator Katie Britt of Alabama, whose backing is viewed as a significant counterbalance to the lukewarm reception he received from Republican Senator Joni Ernst of Iowa, a former Army National Guard lieutenant colonel. Ernst, a sexual assault survivor, declined to endorse Hegseth following their meeting this week. While acknowledging his military service, Ernst stated that they "had a frank and thorough conversation." Trump's incoming Vice President J.D. Vance also issued support for Hegseth on Friday, saying: "I fully support Pete. I think Pete's gonna get confirmed, and we are completely behind him." The New York Times Report The New York Times recently published a 2018 email from Hegseth's mother, Penelope, in which she accused him of mistreating women after he fathered a child with his current wife while still married to his second. This week, she appeared on Fox & Friends to defend her son. As Hegseth continued his battle for Senate confirmation, he appeared to make some headway with Republican lawmakers who had previously voiced concerns, particularly regarding reports about his drinking. "I'm not going to make any decision regarding Pete Hegseth's nomination based on anonymous sources," Republican Senator Lindsey Graham of South Carolina said. This article includes reporting from The Associated Press.