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NEW YORK (AP) — Technology stocks pulled Wall Street to another record amid mixed trading. The S&P 500 rose 0.2% Monday after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared after saying an investigation found no evidence of misconduct by its management or the company’s board. Retailers were mixed coming off Black Friday and heading into what’s expected to be the best Cyber Monday on record. Treasury yields held relatively steady in the bond market. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — Technology stocks are pulling Wall Street toward another record amid mixed trading on Monday. The S&P 500 rose 0.2% in afternoon trading after closing its best month of the year at an all-time high . The Dow Jones Industrial Average was down 86 points, or 0.2%, with a little more than an hour remaining in trading, while the Nasdaq composite was 0.9% higher. Super Micro Computer, a stock that’s been on an AI-driven roller coaster, soared 31.1% to lead the market. Following accusations of misconduct and the resignation of its public auditor , the maker of servers used in artificial-intelligence technology said an investigation found no evidence of misconduct by its management or by the company's board. It also said it doesn’t expect to restate its past financials and that it will find a new chief financial officer, appoint a general counsel and make other moves to strengthen its governance. Big Tech stocks also helped prop up the market. Gains of 1.8% for Microsoft and 2.9% for Meta Platforms were the two strongest forces pushing upward on the S&P 500. Intel was another propellant during the morning, but it lost an early gain to fall 1.1% after the chip company said CEO Pat Gelsinger has retired and stepped down from the board. Intel is looking for Gelsinger’s replacement, and its chair said it’s “committed to restoring investor confidence.” Intel recently lost its spot in the Dow Jones Industrial Average to Nvidia, which has skyrocketed in Wall Street's frenzy around AI. Stellantis, meanwhile, skidded following the announcement of its CEO’s departure . Carlos Tavares steps down after nearly four years in the top spot of the automaker, which owns car brands like Jeep, Citroën and Ram, amid an ongoing struggle with slumping sales and an inventory backlog at dealerships. The world’s fourth-largest automaker’s stock fell 6.3% in Milan. The majority of stocks in the S&P 500 likewise fell, including California utility PG&E. It dropped 3.7% after saying it would sell $2.4 billion of stock and preferred shares to raise cash. Retailers were mixed amid what’s expected to be the best Cyber Monday on record and coming off Black Friday . Target, which recently gave a forecast for the holiday season that left investors discouraged , fell 1.6%. Walmart , which gave a more optimistic forecast, rose 0.3%. Amazon, which looks to benefit from online sales from Cyber Monday, climbed 1.3%. The stock market largely took Donald Trump’s latest threat on tariffs in stride. The president-elect on Saturday threatened 100% tariffs against a group of developing economies if they act to undermine the U.S. dollar. Trump said he wants the group, headlined by Brazil, Russia, India and China, to promise it won’t create a new currency or otherwise try to undercut the U.S. dollar. The dollar has long been the currency of choice for global trade. Speculation has also been around a long time that other currencies could knock it off its mantle, but no contender has come close. The U.S. dollar’s value rose Monday against several other currencies, but one of its strongest moves likely had less to do with the tariff threats. The euro fell amid a political battle in Paris over the French government’s budget . The euro sank 0.7% against the U.S. dollar and broke below $1.05. In the bond market, Treasury yields gave up early gains to hold relatively steady. The yield on the 10-year Treasury climbed above 4.23% during the morning before falling back to 4.19%. That was just above its level of 4.18% late Friday. A report in the morning showed the U.S. manufacturing sector contracted again last month, but not by as much as economists expected. This upcoming week will bring several big updates on the job market, including the October job openings report, weekly unemployment benefits data and the all-important November jobs report. They could steer the next moves for Federal Reserve, which recently began pulling interest rates lower to give support to the economy. Economists expect Friday's headliner report to show U.S. employers accelerated their hiring in November, coming off October's lackluster growth that was hampered by damaging hurricanes and strikes. “We now find ourselves in the middle of this Goldilocks zone, where economic health supports earnings growth while remaining weak enough to justify potential Fed rate cuts,” according to Mark Hackett, chief of investment research at Nationwide. In financial markets abroad, Chinese stocks led gains worldwide as monthly surveys showed improving conditions for manufacturing, partly driven by a surge in orders ahead of Trump’s inauguration next month. Both official and private sector surveys of factory managers showed strong new orders and export orders, possibly partly linked to efforts by importers in the U.S. to beat potential tariff hikes by Trump once he takes office. Indexes rose 0.7% in Hong Kong and 1.1% in Shanghai. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.ISLAMABAD: Prime Minister Shehbaz Sharif has vowed to take decisive action against “future instances of violent protests and disruptive sit-ins.” He underscored that the government would no longer tolerate activities that jeopardise the nation’s economy and stability. Addressing the federal cabinet on Wednesday, the prime minister emphasised a zero-tolerance policy toward those inciting violence. While refraining from explicitly naming Pakistan Tehreek-e-Insaf (PTI), he implicitly criticised the party for orchestrating recent demonstrations in the federal capital, which caused widespread disruption. He insisted that such incidents necessitate a more stringent approach to prevent their recurrence. Sharif drew attention to the economic fallout as the protests took place. He spoke about how life in Islamabad and Rawalpindi was paralysed, leaving businesses shuttered and daily wage earners unable to make ends meet. “The turmoil disrupted supply chains, forced factory closures, and left patients in urgent need of medical care stranded due to blocked roads.” The prime minister also highlighted the broader economic ramifications, noting a sharp decline in the Pakistan Stock Exchange (PSE), which plummeted by 4,000 points in a single day after reaching a record high of 99,000 points. “These agitators have become adversaries of Pakistan’s progress,” he stated. “Their actions repeatedly derail our economy. Stability fosters business growth and investment, and we must safeguard these principles at all costs.” Sharif also condemned the PTI for disruptive tactics, which he described as a harmful precedent in Pakistan’s political history, citing the 2014 sit-in; a 126-day-long protest that delayed the visit of Chinese President Xi Jinping, stalling major projects under the China-Pakistan Economic Corridor (CPEC). He also referenced protests during key diplomatic events, such as the Shanghai Cooperation Organization (SCO) summit in Islamabad, which alarmed foreign dignitaries and tarnished Pakistan’s global image. Even Saudi officials, the prime minister noted, expressed concerns about the instability stemming from political agitation. “This culture of chaos and anarchy is unacceptable,” Sharif said. “No responsible political party in our history has ever stooped to such levels. The PTI’s actions have damaged our international relationships and economic stability, for the sake of personal interests.” The prime minister extended gratitude to law enforcement agencies, including the Islamabad, Punjab, and Sindh police, as well as the Rangers, for their effective handling of recent protests. He singled out the Chief of Army Staff for his crucial support in maintaining order. While affirming the constitutional right to peaceful protest, Shehbaz Sharif stressed that no one has the right to disrupt public life or destroy national assets. He lauded the coordinated efforts of law enforcement agencies in dispersing violent demonstrators, restoring calm, and safeguarding citizens. However, he criticised the provincial government in Khyber Pakhtunkhwa (KP) for neglecting its responsibilities. He accused the KP government of focusing on instigating violence in the federal capital rather than addressing rising insurgency and lawlessness in the province. “While the people of KP suffered from increasing insecurity, their government was busy orchestrating provocations against the federation,” he remarked. Sharif reiterated the need for exemplary punishment for individuals involved in violent incidents, including the May 9 riots. He argued that a lack of accountability emboldened perpetrators, leading to repeated disruptions. “If the culprits of the May 9 riots had faced appropriate punishment, we wouldn’t be witnessing this chaos today,” he said. “The cycle of unrest must end for Pakistan’s future.” Highlighting his government’s efforts to stabilise the economy, which he described as being on a path to recovery despite numerous challenges, Sharif credited the coalition government’s difficult yet necessary decisions for averting a potential default. “Inflation is easing, and we are seeing the fruits of bold, collaborative actions,” he noted, praising coalition partners for prioritising national interests over political considerations. “In the last eight months, we have made significant strides toward economic stabilisation. These achievements are the result of teamwork and determination, not miracles.” “It pains them to see the country stabilising and moving forward,” he added, alleging that the opposition was disheartened by Pakistan’s economic recovery. “It hurts them that Pakistan is stabilising and moving forward,” he said. The prime minister also criticised what he described as PTI’s self-serving political strategies, accusing its leadership of prioritising personal ambitions over national welfare. He claimed that the party’s actions had strained relations with friendly nations and tarnished Pakistan’s reputation. “This is not politics; it is chaos of the worst kind,” Sharif stated. “There is no place for such behavior in a civilised democracy.” He added that PTI’s leadership blatantly disregarded directives from the Islamabad High Court, undermining constitutional norms in their quest for power. In his concluding remarks, the prime minister declared his government’s commitment to ensuring such disruptions do not recur. He emphasised that the administration would take all necessary steps to uphold peace and stability, which are essential for Pakistan’s progress. “We will not allow the country’s stability to be jeopardised, not on our watch or anyone else’s,” he said. “The government’s priority is to focus on building a stronger, more resilient Pakistan, and we will take every step to safeguard this mission.” The prime minister assured the nation that his administration remains dedicated to fostering economic growth, strengthening international relations, and ensuring law and order. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );
A turn away from the EU plunges Georgia into crisis T HE ECHOES seem obvious. A Kremlin-backed oligarch grabs power and breaks off the country’s relationship with the European Union, eliciting huge protests. Masked police beat up peaceful demonstrators, bringing more people onto the street. Such were the scenes during Kyiv’s Maidan revolution in 2013-14, which overthrew that country’s president and ultimately led to a Russian invasion. Discover more France’s government faces the imminent loss of a vote of confidence Michel Barnier, the prime minister, has failed to get his budget through parliament How Ukraine uses cheap AI-guided drones to deadly effect against Russia Ukraine is making tens of thousands of them Emmanuel Macron shows off the gloriously restored Notre Dame Five years after it was gutted by fire, the cathedral is more beautiful than ever Ursula von der Leyen has a new doctrine for handling the hard right The boss of the European Commission embarks on a second term Marine Le Pen spooks the bond markets She threatens to bring down the French government, but also faces a possible ban from politics The maths of Europe’s military black hole It needs to spend to defend, but voters may balkAP Trending SummaryBrief at 5:06 p.m. EST
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City blew a three-goal lead to draw with Feyenoord in the Champions League. Manchester City defender Nathan Ake said his side must “show character” if they are to end their winless streak after Feyenoord scored three times in the final 15 minutes to claim a 3-3 draw in the Champions League at the Etihad Stadium. City are now six games without a victory but appeared to be cruising towards three points before being stunned by the Eredivisie side, who hit them with goals from Anis Hadj Moussa, Santiago Gimenez and David Hancko to fight back from 3-0 down. Two goals from Erling Haaland, one of them a penalty, and one from Ilkay Gundogan had the 2023 European champions three up after 53 minutes as they sought the win that would help to get their ailing season back on track. After the team collapsed in the closing stages, Ake called on his team-mates to show their mettle if their campaign is not to wither away. Speaking to Amazon Prime, he was asked whether he believed the the team’s problem is a mental one. “Maybe it is,” he said. “It is difficult to say. Obviously we have not been in this situation many times but this is where we have to show our character. “When everything seems to go against us and everyone is writing us off, we have to stay strong mentally, believe in ourselves and stick together. “Every season there is a period when they write us off. We have to make sure we stay strong as a team and staff and make sure we get out of it.” The draw leaves City with work to do if they are to secure one of the eight automatic spots in the last 16 of this season’s Champions League. They are currently 15th in the table, two points outside of the top eight, and will need positive results in their next two games against Juventus and Paris St Germain to keep their hopes alive. They then face Club Brugge in their final league match on January 29. The result at least ended a run of five straight defeats in all competitions ahead of Sunday’s Premier League showdown with leaders Liverpool at Anfield. “When you are three goals up it feels like a defeat when you give up three goals at home,” said Ake. “It is tough now, a tough night, but the only thing we can do is look forward to the next one. Liverpool is a big game and it is another challenge to overcome. “(We were) 3-0 up and we played quite well and were under control, but then it all changed. “You just have to stay strong mentally. At 3-1 they then push on but I think we need to go for it a bit earlier so we could keep the pressure on them, but we stayed playing at the back and maybe invited more pressure on us. “Then when you concede the second one there is even more pressure and then we have to stay stronger mentally.”Gaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the Senate WASHINGTON (AP) — Matt Gaetz has withdrawn as Donald Trump’s pick for attorney general following scrutiny over a federal sex trafficking investigation. The Florida Republican made the announcement Thursday. Gaetz’s withdrawal is a blow to Trump’s push to install steadfast loyalists in his incoming administration and the first sign that Trump could face resistance from members of his own party. Trump said in a social media post that Gaetz “did not want to be a distraction for the Administration.” Gaetz said “it is clear that my confirmation was unfairly becoming a distraction to the critical work" of the transition team. He added, “There is no time to waste on a needlessly protracted Washington scuffle.”
McDermott, AFC East-leading Bills refreshed coming out of bye week, and looking ahead to host 49ersAn NYPD drone helped police locate and arrest two teens caught subway surfing atop a Queens No. 7 train, police said Wednesday. A drone flying over the No. 7 line in Corona spotted two boys, ages 14 and 15, atop a train near the 103rd St.-Corona Plaza station about 7:30 a.m. on Tuesday, cops said. Officers were dispatched to the station, where the teens were removed from the train and taken into custody. The younger teen, police said, had a set of MTA keys that allowed him into the conductor’s cabin. Both youths were charged with reckless endangerment. The teen with the keys was additionally charged with possession of burglar’s tools. Mayor Adams last month hailed the NYPD drone initiative, claiming it has been an important tool in the fight against subway surfing and has saved hundreds of lives. “We will see the lives that are lost, but rarely do you get the medal for the lives that are saved,” the mayor said at a press conference outside a Queens school near the aboveground No. 7 train. “And these officers and this team and this technology is saving lives.” The aerial drone program started last year as a pilot initiative and was made permanent this June, NYPD officials said. Typically, the NYPD flies two drones to target subway surfing during the after-school hours from 2 p.m. to 5 p.m. These drones fly above the elevated J, M, Z and 7 subway lines in Queens — a favorite borough for the dangerous stunt — to alert officers below if a subway surfer is spotted. The officers then apprehend the daredevils at a subway station and take them into custody. The department has recently shaken up the schedule and is now flying drones in the morning, as well, officials said. Since the program started a year ago, 114 people have been brought in after being flagged subway surfing by the drones. Around 40 of those people had been arrested more than once for subway surfing, NYPD officials said. Six people have died from subway surfing this year , including two teens who perished while subway surfing within a few days of each other last month .ORCHARD PARK, N.Y. (AP) — Gratifying as it was for Sean McDermott to catch up with his family and get some rest during Buffalo’s bye week, the Bills coach on Wednesday found comfort returning to his weekly routine and familiar wardrobe — a gray T-shirt and sweatpants. “When I’m not wearing those, I go to my closet and I don’t know what to wear. I’m kind of like not myself,” he said before pulling up his hoodie for emphasis to reveal the gray shirt he had on underneath. “So I was telling some of the guys this morning, ‘It’s good to be back.’” Though there remain challenges ahead, these are upbeat times in Buffalo . The Bills (9-2) are off to their best start since 1992. They remain in contention for the AFC’s top seed by entering their break following a 30-21 win over Kansas City (10-1). And Buffalo is in position to clinch its fifth straight AFC East title as early as Sunday. To do so, the Bills would need Miami to lose to Green Bay on Thursday night, and Buffalo to win its game over San Francisco (5-6) on Sunday night. Buffalo has won six straight since back-to-back losses at Baltimore and Houston, and scored 30 or more points in each of its past five outings. Refreshed as McDermott sounded and appeared, it didn’t take long for him to revert to his game-at-a-time script when assessing what’s on the line this weekend. “We’re mostly focused on our level of play this week against a good football team,” he said. McDermott shed little light on the status of Buffalo’s lengthy list of injured players. There’s no timetable yet on Matt Milano being activated off injured reserve, even though the starting linebacker practiced fully for the first time since tearing his left biceps during a training camp practice in mid-August. Milano has actually missed nearly 14 months since sustaining a season-ending injury to his right leg in Week 5 last season. Milano revealed little during a brief interview following practice. “I feel all right. Getting back into it with the team,” said Milano, who no longer wore a red non-contact jersey in practice. Meantime, rookie receiver Keon Coleman, who has missed two games with a right wrist injury, and starting right tackle Spencer Brown, who missed one game with an ankle injury, were limited in practice. Tight end Dalton Kincaid (knee) was Buffalo's only player not practicing. The Bills also opened the three-week window for backup rookie defensive tackle DeWayne Carter (wrist) and backup offensive lineman Tylan Grable (groin) to return. McDermott has another positive going for him revolving around the bye week. The Bills are 8-0 coming out of their break since McDermott took over as coach in 2017. “I don’t really have the, hey, this is exactly what we do formula,” McDermott said on whether he’s changed his bye week approach. “It’s more of us really just getting back to what we do, getting back to basics.” AP NFL: https://apnews.com/hub/nfl
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Trump warns of 'hell to pay' if Hamas doesn't release hostagesA ceasefire deal that could end more than a year of cross-border fighting between Israel and Lebanon's Hezbollah militant group won backing from Israeli leaders Tuesday, raising hopes and renewing difficult questions in a region gripped by conflict. Hezbollah leaders also signaled tentative backing for the U.S.-brokered deal, which offers both sides an off-ramp from hostilities that have driven more than 1.2 million Lebanese and 50,000 Israelis from their homes. An intense bombing campaign by Israel has killed more than 3,700 people, many of them civilians, Lebanese officials say. But while the deal, set to take effect early Wednesday, could significantly calm the tensions that have inflamed the region, it does little directly to resolve the much deadlier war that has raged in Gaza since the Hamas attack on southern Israel in October 2023 that killed 1,200 people. Hezbollah, which began firing scores of rockets into Israel the following day in support of Hamas, has previously said it would keep fighting until there was a stop to the fighting in Gaza. Here’s what to know about the tentative ceasefire agreement and its potential implications: The agreement reportedly calls for a 60-day halt in fighting that would see Israeli troops retreat to their side of the border while requiring Hezbollah to end its armed presence in a broad swath of southern Lebanon. President Joe Biden said Tuesday that the deal is set to take effect at 4 a.m. local time on Wednesday (9 p.m. EST Tuesday). Under the deal, thousands of Lebanese troops and U.N. peacekeepers are to deploy to the region south of the Litani River. An international panel lead by the U.S. would monitor compliance by all sides. Biden said the deal “was designed to be a permanent cessation of hostilities.” Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Israel’s Defense Minister Israel Katz insisted Tuesday that the military would strike Hezbollah if the U.N. peacekeeping force, known as UNIFIL , does not provide “effective enforcement” of the deal. A Hezbollah leader said the group's support for the deal hinged on clarity that Israel would not renew its attacks. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Qatari satellite news network Al Jazeera. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state” of Lebanon, he said. The European Union’s top diplomat, Josep Borrell, said Tuesday that Israel’s security concerns had been addressed in the deal also brokered by France. After months of cross-border bombings, Israel can claim major victories, including the killing of Hezbollah’s top leader, Hassan Nasrallah, most of his senior commanders and the destruction of extensive militant infrastructure. A complex attack in September involving the explosion of hundreds of walkie-talkies and pagers used by Hezbollah was widely attributed to Israel, signaling a remarkable penetration of the militant group. The damage inflicted on Hezbollah has come not only in its ranks, but to the reputation it built by fighting Israel to a stalemate in the 2006 war. Still, its fighters managed to put up heavy resistance on the ground, slowing Israel’s advance while continuing to fire scores of rockets, missiles and drones across the border each day. The ceasefire offers relief to both sides, giving Israel’s overstretched army a break and allowing Hezbollah leaders to tout the group’s effectiveness in holding their ground despite Israel’s massive advantage in weaponry. But the group is likely to face a reckoning, with many Lebanese accusing it of tying their country’s fate to Gaza’s at the service of key ally Iran, inflicting great damage on a Lebanese economy that was already in grave condition. Until now, Hezbollah has insisted that it would only halt its attacks on Israel when it agreed to stop fighting in Gaza. Some in the region are likely to view a deal between the Lebanon-based group and Israel as a capitulation. In Gaza, where officials say the war has killed more than 44,000 Palestinians, Israel’s attacks have inflicted a heavy toll on Hamas, including the killing of the group’s top leaders. But Hamas fighters continue to hold scores of Israeli hostages, giving the militant group a bargaining chip if indirect ceasefire negotiations resume. Hamas is likely to continue to demand a lasting truce and a full Israeli withdrawal from Gaza in any such deal. Palestinian Authority President Mahmoud Abbas offered a pointed reminder Tuesday of the intractability of the war, demanding urgent international intervention. “The only way to halt the dangerous escalation we are witnessing in the region, and maintain regional and international stability, security and peace, is to resolve the question of Palestine,” he said in a speech to the U.N. read by his ambassador.
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