NEW YORK (AP) — The huge rally for U.S. stocks lost momentum on Thursday as Wall Street counted down to a big jobs report that’s coming on Friday. The crypto market had more action, and bitcoin briefly burst to a record above $103,000 before pulling back. The S&P 500 slipped 0.2% from the all-time high it had set the day before, its 56th of the year so far, to shave a bit off what’s set to be one of its best years of the millennium . The Dow Jones Industrial Average fell 248 points, or 0.6%, while the Nasdaq composite slipped 0.2% from its own record set the day before. Bitcoin powered above $100,000 for the first time the night before, after President-elect Donald Trump chose Paul Atkins, who's seen as a crypto advocate, as his nominee to head the Securities and Exchange Commission. The cryptocurrency has climbed dramatically from less than $70,000 on Election Day, but it fell back as Thursday progressed toward $99,000, according to CoinDesk. Sharp swings for bitcoin are nothing new, and they took stocks of companies enmeshed in the crypto world on a similar ride. After rising as much as 9% in early trading, MicroStrategy, a company that’s been raising cash just to buy bitcoin, swung to a loss of 4.8%. Crypto exchange Coinbase Global fell 3.1% after likewise erasing a big early gain. Elsewhere on Wall Street, stocks of airlines helped lead the way following the latest bumps up to financial forecasts from carriers. American Airlines Group soared 16.8% after saying it’s making more in revenue during the last three months of 2024 than it expected, and it will likely make a bigger profit than it had earlier forecast. The airline also chose Citi to be its exclusive partner for credit cards that give miles in its loyalty program. That should help its cash coming in from co-branded credit card and other partners grow by about 10% annually. Southwest Airlines climbed 2% after saying it’s seeing stronger demand from leisure travelers than it expected. It also raised its forecast for revenue for the holiday traveling season. On the losing end of Wall Street was Synposys, which tumbled 12.4%. The supplier for the semiconductor industry reported better profit for the latest quarter than analysts expected, but it also warned of “continued macro uncertainties” and gave a forecast for revenue in the current quarter that fell short of some analysts’ estimates. American Eagle Outfitters fell even more, 14.3%, after the retailer said it’s preparing for “potential choppiness” outside of peak selling periods. It was reminiscent of a warning from Foot Locker earlier in the week and raised more concerns about how resilient U.S. shoppers can remain. Solid spending by U.S. consumers has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A report on Thursday said the number of U.S. workers applying for unemployment benefits rose last week but remains at historically healthy levels. Expectations are high that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. In the bond market, the yield on the 10-year Treasury edged down to 4.17% from 4.18% late Wednesday. The S&P 500 fell 11.38 points to 6,075.11. The Dow sank 248.33 to 44,765.71, and the Nasdaq composite lost 34.86 to 19,700.26. In stock markets abroad, indexes were mostly calm in Europe after far-right and left-wing lawmakers in France joined together to vote on a no-confidence motion that will force Prime Minister Michel Barnier and his Cabinet to resign. The CAC 40 index in Paris added 0.4%. In South Korea, the Kospi fell 0.9% to compound its 1.4% decline from the day before. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night. He revoked the martial law declaration six hours later. Crude oil prices slipped after eight members of the OPEC+ alliance of oil exporting countries decided to put off increasing oil production. AP Business Writers Yuri Kageyama and Matt Ott contributed.Is the WiseTech share price heading for $200?
Saudi Gazette report RIYADH — Freelancing is rapidly growing in Saudi Arabia, becoming a significant contributor to the national economy and assisting individuals. As of September 2024, over 2.25 million individuals were registered on the freelance platform, reflecting the increased demand for this flexible work option. The Ministry of Human Resources and Social Development established the "Future Work" company in 2019 with an objective of boosting the freelancing sector. It focuses on promoting modern work styles, like remote work, flexible hours, and freelancing. Its goal is to expand job opportunities, empower Saudi talent, and create a new labor market that complements the traditional system while keeping pace with global developments. A recent report by Future Work highlights the sector's impressive growth and its alignment with Vision 2030. The report also reveals a diverse range of freelance activities. Trade and retail lead this sector with 38 percent, followed by industry 13 percent and business services 11 percent. This highlights the dynamism of the freelance market, capable of meeting the needs of various sectors. In terms of education, the sector offers flexibility for different qualifications. Bachelor degrees are the most common with 62 percent, followed by high school graduates or less, with 31percent and holders of higher degrees with 7 percent. Technology plays a crucial role, with digital platforms becoming essential tools for freelancers, especially in tech, information, and finance. These platforms enhance efficiency and communication, leading to greater sustainability and success. Geographically, Riyadh has the highest concentration of freelancers with 27 percent, followed by Makkah 22 percent and the Eastern Province 14percent. The 25-34 age group is the most active, reflecting young people's growing interest in freelancing. The report also highlights a promising trend: 3.2 million women expressed interest in entering the freelance market. This reflects the success of initiatives launched to help women participate in the economy, while balancing professional and personal lives. According to the report, freelancers’ contribution to the GDP is significant. In 2023, it reached SR72.5 billion, representing two percent of the Kingdom's GDP. This underlines the sector's contribution to the national economy and to diversifying sources of income. Government initiatives like the Reef program, the Social Development Bank, and the Human Resources Development Fund further support this growth by providing a supportive environment for freelancers. < Previous Page Next Page >
NASHVILLE, Tenn. (AP) — Coach Brian Callahan is sticking with Mason Rudolph at quarterback for a second straight game to see if the Tennessee Titans can build on the veteran who's played in four of their highest scoring games this season. Callahan said Tuesday that he thinks Rudolph earned another chance to play despite a 38-30 loss to Indianapolis. “Obviously the one interception was probably his only really poor moment," Callahan said. "The rest of it was pretty well executed on his part and operated in a drop-back passing game and had to fight his way back through it. And it was good to see, so we’ll let him take another crack at it.” Rudolph is 2-4 in the six games he's played in this season. That includes coming in for an injured Will Levis on Sept. 30 in a 31-12 win at Miami , and he tried to rally the Titans in a turnover-plagued 37-27 loss to Cincinnati before being selected as the starter last week. Rudolph, who is in Tennessee on a one-year deal, was 23 of 34 for 252 yards with two touchdown passes and three interceptions. One went off running back Tony Pollard's hands with the final pick coming on the last play of the game after Rudolph led a rally from a 38-7 deficit in the final 18 minutes. Rudolph's ability to avoid sacks is a key piece of sticking with him over Levis, the 33rd pick overall in the 2023 draft. The quarterbacks' stats are similar with Rudolph having eight TD passes and eight interceptions, completing 63.8% of his passes with a 78.8 passer rating. That’s similar to Levis completing 63.7% of his passes with 12 TD passes and 12 interceptions. But Levis has been sacked 40 times compared to just seven for Rudolph. “He’s got the ability to avoid the negative play when it comes to sacks," Callahan said of Rudolph. “He gets the ball out. He knows where to go with it quickly.” That means Rudolph gets a chance Sunday when the Titans (3-12) visit the Jacksonville Jaguars (3-12) to see if he can guide the offense to more than the six points Levis managed against their AFC South rival in a 10-6 loss on Dec. 8 in Nashville. Rudolph said he knows he put the Titans defense in a bad spot with some turnovers. "I’m ready to prove that I can take care of the ball better and keep scoring points,” Rudolph said. Holiday adjustment The Titans held a walk-through Tuesday with Callahan giving the team Wednesday off for Christmas. An injury report won't be released until Wednesday, and Callahan said it'll likely be lengthy. RG Dillon Radunz, who was knocked out of last week's game with an injury, will be on that report. Lineman Jaelyn Duncan, who hurt a hamstring badly enough early in his first start at right tackle Oct. 20 that he wound up on injured reserve , will be available. Callahan said he is excited to see Duncan play. ___ AP NFL: https://apnews.com/hub/nfl Teresa M. Walker, The Associated PressDecember's full cold moon: What to know
Police say suspect in UnitedHealthcare CEO killing wasn't a client of the insurer