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Stock market today: Wall Street hits records despite tariff talk
Commanders place kicker Austin Seibert on injured reserveA third Victorian Liberal has put their hand up for the party’s leadership just hours before Friday morning’s showdown. Mornington MP Chris Crewther emailed his colleagues at 12.47am to announce his candidacy for Liberal leader in the event of a successful spill motion against Opposition Leader John Pesutto. Mornington MP Chris Crewther. Credit: Eamon Gallagher “We have an opportunity to unite to defeat Labor, who’ve been in government for 21 out of the last 25 years,” Crewther wrote. “We must bring together all our talents – and the strengths of every single MP – to do so. And we must have each other’s backs at all times. We must care for each other, as we’d care for Victorians in government. “Thank you for your consideration of my candidacy as we look to a better future for Victoria.” Crewther is the former federal MP for Dunkley in Melbourne’s outer southeast, which he lost at the 2019 election after just one term. The development comes after former police officer and bakery owner Brad Battin phoned Pesutto on Thursday to confirm he would challenge his leadership at Friday’s party room meeting, where a vote on readmitting exiled MP Moira Deeming is also expected to be held. Finance spokeswoman Jess Wilson, who is also a former executive director with the Business Council of Australia, threw her hat into the ring on Thursday afternoon, saying she wanted to offer her colleagues a choice should Pesutto be toppled. Wilson is from the party’s moderate wing, while Battin has allied himself with key conservatives. Crewther is also considered an ally of conservative MPs.
NoneFormer New York City Mayor Rudy Giuliani unleashed a long-winded rant against a New York judge on Tuesday, telling reporters that the jurist, appointed by then-President Donald Trump , is an "activist Democrat." "Have you figured out what side he's on?" Giuliani told reporters Tuesday, referring to U.S. District Judge Lewis Liman. "Are you too dumb to see what side he's on?" "I've been a lawyer for 55 years," Giuliani added, according to Politico. "I can figure out what side he's on." Trump nominated Liman to serve on the U.S. District Court for the Southern District of New York in May 2018. He was confirmed by the Senate in December 2019 by a vote of 64-29. Giuliani, also a former Trump attorney, added that Liman "doesn't give a damn about the truth. He just gives a damn about being popular." His rant against Liman arrived after the two men were embroiled in a heated back and forth at a pretrial hearing in New York related to a $148 million defamation lawsuit that two former Georgia election workers filed against Giuliani. Liman asked Giuliani in court why he hadn't handed over the title to his Mercedes-Benz convertible to the two election workers, Ruby Freeman and Shaye Moss, as ordered by the court. Giuliani said he had requested a duplicate title for the car but that it hadn't been issued yet. "The implication I have not been diligent about it is totally incorrect," he said. "The implication you make is against me and every implication against me is wrong." "I don't have a car," Giuliani said, according to Politico. "I don't have a credit card. They have put a stop order on, for example, my Social Security account," he added, referring to Freeman and Moss. But Liman cut Giuliani off, telling him, "I permitted Mr. Giuliani to speak. Next time, I will not permit him to speak and the court will have to take action." Giuliani has been consumed by legal troubles since the 2020 election. In July, he was disbarred in New York over efforts to overthrow the election results that year and deliver Trump the White House. The former mayor made "demonstrably false and misleading statements to courts, lawmakers, and the public at large in his capacity as lawyer for former President Donald J. Trump and the Trump campaign in connection with Trump's failed effort at reelection in 2020," the New York appeals court wrote in its ruling. Two months later, Giuliani was disbarred in Washington, D.C. Giuliani also faces criminal cases in Georgia and Arizona over election subversion efforts, and he was also hit with defamation lawsuits from voting technology companies Dominion Voting Systems and Smartmatic. Newsweek reached out to a Giuliani spokesperson for comment on Tuesday.Woke Fail: HBO Touts Continued Partnership with J.K. Rowling for Upcoming 'Harry Potter' Series
NEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.None
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Stock indexes drifted to a mixed finish on Wall Street Thursday, as some heavyweight technology and communications sector stocks offset gains elsewhere in the market. The S&P 500 fell less than 0.1% after spending the day wavering between small gains and losses. The tiny loss ended the benchmark index’s three-day winning streak. The Dow Jones Industrial Average added 0.1%, and the Nasdaq composite fell 0.1%. Trading volume was lighter than usual as U.S. markets reopened following the Christmas holiday. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.2%. Meta Platforms fell 0.7%, and Amazon and Netflix each fell 0.9%. Tesla was among the biggest decliners in the S&P 500, finishing 1.8% lower. Some tech companies fared better. Chip company Broadcom rose 2.4%, Micron Technology added 0.6% and Adobe gained 0.5%. Health care stocks were a bright spot. CVS Health rose 1.5% and Walgreens Boots Alliance added 5.3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 3%, Ross Stores added 2.3%, Best Buy rose 2.9% and Dollar Tree gained 3.8%. Traders are watching to see whether retailers have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. U.S.-listed shares in Honda and Nissan rose 4.1% and 16.4%, respectively. The Japanese automakers announced earlier last week that the two companies are in talks to combine. All told, the S&P 500 fell 2.45 points to 6,037.59. The Dow added 28.77 points to 43,325.80. The Nasdaq fell 10.77 points to close at 20,020.36. Wall Street 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 mostly fell in the bond market. The yield on the 10-year Treasury slipped to 4.58% 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 last 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 26.6% 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.
Stock market today: Wall Street hits records despite tariff talk
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Liberty Locksmith of Phoenix Provides Expert Commercial Locksmith Services in Phoenix, AZCARLSBAD, Calif. , Dec. 12, 2024 /PRNewswire/ -- Ourself, a leader in the next generation of skincare, today announced that clinical data evaluating Ourself's patented delivery technology, Tiered-Release VesiclesTM (TRVs), was published in Dermatologic Surgery , the official journal of the American Society for Dermatologic Surgery. The publication highlights that TRVs have the potential to revolutionize skincare by enabling the delivery of large, bioactive molecules directly into the epidermis and dermis. The Ourself delivery method promises to reshape the way we care for our skin and opens new possibilities for enhancing cosmetic outcomes topically. "Publication of this data reinforces that Ourself is setting a new standard in topical delivery," said Jim Hartman , Ourself's Chief Executive Officer. "We are excited to lead these advancements and look forward to the growth and innovation this breakthrough will inspire for our brand and the industry as a whole." "Tiered-Release Vesicles represent a revolutionary advancement in dermal delivery technology, addressing a stagnation in the industry that has persisted for over four decades," said Ashish C. Bhatia , MD, FAAD, author and board-certified dermatologist and Mohs surgeon at Oak Dermatology. For decades, the skin's outermost layer, the stratum corneum, has long been a barrier that limits the effectiveness of skincare products, blocking essential ingredients from reaching deeper layers. Traditional delivery systems like liposomes have failed to penetrate deeply enough to achieve substantial results—TRVs change this paradigm. "It's not just about the ingredients but also how the ingredients get to where they need to go. Ourself is revolutionary and a game changer in our industry because we've had the same delivery systems for 40 years. Now we have something better," said Amy B. Lewis , MD, board-certified dermatologist at Lewis Dermatology and Associates. "The Tiered-Release Vesicle delivery system is a major step forward for skincare. These developments redefine what is now achievable in topical delivery, unlocking limitless potential for the future of skincare," said Amir Moradi , MD, MBA lead author and double board-certified facial plastic and otolaryngology-head and neck surgeon at Moradi MD. ABOUT OURSELF Leveraging decades of biotech and skincare expertise, Ourself developed a new, scientifically advanced delivery technology to broaden the capabilities of cosmetic skincare forever. Utilizing patented Tiered-Release VesiclesTM, Ourself "hero" products ensure deep ingredient delivery, sending larger molecules, powerful peptides and all-in-one formulations directly to the layer of the skin where they're needed most to improve loss of volume, lines & wrinkles, and uneven pigmentation. Ourself developed the first non-injectable Lip Filler clinically proven to restore volume by delivering two sizes of hyaluronic acid into the lips, topically. Ourself is based in Carlsbad, CA. For more information, visit Ourself.com . REFERENCE: Moradi A, et al. In Vivo and Ex Vivo Evaluation of a Novel Method for Topical Delivery of Macromolecules Through the Stratum Corneum for Cosmetic Applications. Dermatol Surg. 2024 SOURCE Ourself
Mexico shares higher at close of trade; S&P/BMV IPC up 0.52%The Argentine government has accused a former ambassador to Venezuela of treason after he arranged for the delivery of a letter to an Argentine military police officer detained on espionage charges. Officer Nahuel Agustín Gallo was arrested on espionage charges when he entered the Caribbean country on December 8. His family says he was going to visit his Venezuelan partner, who had returned to care for her mother, and their son. Oscar Laborde, Argentina’s representative in Caracas between 2022 and 2023 during Alberto Fernández’s administration, negotiated with the Venezuelan government to send a letter to Gallo from his family. “Far from defending the human rights of the ‘disappeared’ officer, what he did was to unduly superimpose himself on the international diplomatic efforts of the Argentine Republic in order to justify the openly criminal conduct of the Venezuelan authorities,” the security ministry wrote in a 16-page complaint filed Thursday. Officials added that Laborde had initiated negotiations with the Venezuelan government without formal authorization from Argentina. The case is now in the hands of Federal Judge Daniel Rafecas. Fernando Soto, the Security Ministry’s National Director of Regulation and Judicial Liaison, told the Herald that Laborde had cast doubts about Gallo’s presence in Venezuela in multiple interviews, fueling Caracas’ theory that the officer was a spy. “He clearly has the decision to favor Maduro’s dictatorship,” Soto said. Soto added that Laborde’s interview comments that Gallo is faring well “cover up a forced disappearance.” “Why is he saying that? He doesn’t know and he says it to cover up for Venezuela. If he does have information, then that’s worse.” He said that there are no official reports on Gallo’s whereabouts, and that confidential investigations are being carried out by the Ministry of Security and the Ministry of Foreign Affairs. “I am sorry that this humanitarian action has been interpreted as trying to humanize the regime,” Laborde said in an interview about the letter with the AM 750 radio station on Thursday. Laborde explained that he contacted Venezuela’s Attorney General, whom he knew from his tenure as ambassador, with the permission of Gallo’s mother. “The Argentine government had not done anything about the issue,” he said, adding that the administration had not named a lawyer in the case. Gallo’s family requested his help through social leader and former presidential candidate Juan Grabois. “The letter was sent at the request of the family, who trusted me — a lawyer specialized in international public law — to ensure it reached him. We fulfilled our objective,” he wrote on X . He asked Argentina’s Security Minister Patricia Bullrich to include him in the complaint. “It is perhaps the only issue in which I am willing to collaborate with our authorities for a national objective: the protection of the rights of the military police officer Nahuel Gallo,” he added. Soto said that, while Laborde’s collaboration with the Venezuelan regime is a matter of public record, when it comes to Grabois there is proof only that he is close to Gallo’s family. However, he did not rule out the possibility of amplifying the complaint if new evidence arises. The Venezuelan government admitted on December 16 to having arrested Gallo , with Interior Minister Diosdado Cabello accusing him of being “on a mission” in the country. Last week, Bullrich claimed that the allegations that he is a spy are “stupid and unserious.”