Symbotic Announces Acquisition of OhmniLabs
NEW YORK (AP) — U.S. stock indexes drifted lower in the runup to the highlight of the week for the market, the latest update on inflation. The S&P 500 slipped 0.3% Tuesday and marked its first back-to-back losses in three weeks. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite also fell 0.3%. Oracle dragged on the market after reporting weaker growth than analysts expected. Treasury yields rose in the bond market ahead of Wednesday’s inflation report, which will be among the final big pieces of data before the Federal Reserve’s meeting on interest rates next week. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are drifting lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped by 0.2% in late trading, a day after pulling back from its latest all-time high . The index is on track for its first back-to-back losses in more than three weeks, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average was down by 7 points, or less than 0.1%, with roughly an hour remaining in trading, and the Nasdaq composite fell 0.3%. Tech titan Oracle dragged on the market and sank 7.8% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped nearly 81% for the year coming into Tuesday, which raised the bar of expectations for its profit report. C3.ai fell 2.1% despite reporting a smaller loss for the latest quarter than analysts expected. The AI software company increased its forecast for how big a loss it expects to take this fiscal year from its operations. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show roughly similar increases as the month before. That and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to lift the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 5.2% even though it beat analysts’ expectations for profit and revenue in the latest quarter. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January Elsewhere on Wall Street, Alaska Air Group soared 13.6% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 5.2% after saying it's resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.7% after the ski resort operator reported a narrower first-quarter loss than expected in what is traditionally its worst quarter. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. ___ AP Business Writers Matt Ott and Elaine Kurtenbach contributed. Stan Choe, The Associated Press
PITTSBURGH (AP) — The yard lines weren't the only things lost in the early winter squall that swept off Lake Erie and turned Huntington Bank Stadium into a snow globe on Thursday night. The “good vibes only" mindset that carried the Pittsburgh Steelers through two-plus months of solid if not always spectacular football disappeared in a 24-19 loss to last-place Cleveland . Over three eventful hours, all the ingredients of a classic “trap game” the Steelers (8-3) were hoping to avoid created a recipe with an all-too-familiar aftertaste of regret and missed opportunities,. A bit of immaturity from wide receiver George Pickens, who got into an MMA-style exchange with an opposing defensive back ... again. A pinch of frustration from normally stoic defensive tackle Cam Heyward, who vented afterward about being held on a decisive snap. An ounce — OK, several ounces — of confusion from a coaching staff that couldn't seem to decide whether to accept a late Browns penalty and then compounded it by taking a valuable timeout immediately afterward when the defense couldn't get lined up right. A dash of curious game planning, one that included inserting backup quarterback Justin Fields in high-leverage situations, most notably on third-and-6 with less than 5 minutes to go with the game still in the balance. The gambit that worked beautifully in an emotional victory over Baltimore last Sunday was a decidedly more mixed bag this time around. Add it all up and the result was Pittsburgh's fifth loss in its last seven trips to Cleveland, squandering a chance to move closer to its first AFC North title in four years. “We have a lot of football left,” quarterback Russell Wilson said. “We have a lot of opportunities to respond in the highest way, (the) highest level. I think everything that we want is still in front of us.” Yet a team that's been one of the league's bigger surprises failed to avoid a misstep and provided a reminder that for all the good things it has done of late, the Steelers remain a work in progress. “It is very deflating,” outside linebacker T.J. Watt said. "We need to close out games and we were not able to do that tonight. It sucks that we could not hold on, but a loss is a loss.” What's working Wilson's moonball. Even amid the snowflakes and quick deteriorating conditions, Wilson was unafraid to let the ball fly. Wilson averaged a healthy 12.9 yards per completion, including deep shots to Pickens, Van Jefferson and Calvin Austin III, the last a 23-yard flip to the end zone that Austin cradled to give the Steelers a late lead. If there's one thing that Wilson has shown during his first five starts, it's the situation — be it the score, the down, the time left on the clock or the weather — is immaterial. He will throw it where he wants when he wants, regardless of the circumstance. What needs help The final numbers for the offense — namely 368 yards and 35 minutes of possession — were good. The eye test, however, was another matter. The line had trouble protecting Wilson, giving up four sacks, and generating push when it mattered. Take out a 30-yard sprint by Fields and Pittsburgh averaged less than 3 yards per carry on the ground. The Steelers had the ball with under 5 minutes to go knowing two or three first downs would win in it. So middling runs and one ill-advised pass down the sideline by Fields later, Pittsburgh punted and momentum swung one last time. Stock up Outside linebacker Nick Herbig shows a more than passable T.J. Watt impression when healthy. Herbig's strip-sack of Jameis Winston midway through the fourth quarter set up Austin's go-ahead touchdown. Herbig now had 3 1/2 sacks and three forced fumbles despite missing four games with a hamstring injury. Stock down Pickens displays anger issues, particularly when things don't go his way. The third-year wideout had his third very public, strikingly violent outburst in two months when he got into it with Browns cornerback Greg Newsome III after a last-gasp Hail Mary fell incomplete. The NFL fined Pickens more than $10,000 after he grabbed Dallas defensive back Jourdan Lewis by the facemask at the end of a loss in October. Two weeks ago Pickens and Washington's Mike Sainristil exchanged punches following an interception. The volatile Pickens is by far Pittsburgh's best playmaker. Yet with the stakes likely raised in the coming weeks, he needs to keep his emotions in check if he wants to make sure he stays on the field. Injuries Pittsburgh could have starting outside linebacker Alex Highsmith (ankle) back when they visit Cincinnati on Dec. 1. Highsmith has missed the last two games and five overall this season. Key number 0-8 — head coach Mike Tomlin's career record on the road in Thursday night games against AFC North opponents. Next steps Rest up and prepare for a finishing stretch that starts with a visit to the underperforming but still dangerous Bengals. Pittsburgh swept the season series from Cincinnati last year. AP NFL: https://apnews.com/hub/nfl
Published 4:39 pm Sunday, November 24, 2024 By Data Skrive Top 25 teams will take the court in eight games on Monday’s college basketball schedule. That includes the Duke Blue Devils squaring off against the Kansas State Wildcats at Lee’s Family Forum. Watch women’s college basketball, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up for a free trial. Catch tons of live women’s college basketball , plus original programming, with ESPN+ or the Disney Bundle.