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NEW YORK (AP) — Stocks slipped in afternoon trading Friday as Wall Street closes out a rare bumpy week. The S&P 500 fell 0.2%, and is on track for a loss for the week after three straight weekly gains. The Dow Jones Industrial Average fell 81 points, or 0.2% to 43,833 as of 12:56 p.m. Eastern time. The Nasdaq fell 0.3% and is hovering around its record. Broadcom surged 20.2% after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 14.3% after raising its forecast for revenue growth for the year. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.39% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.
BREAKING: Israeli airstrikes shake Beirut moments after Biden says Israel and Hezbollah agreed to ceasefire deal. JERUSALEM (AP) — Israel approved a United States-brokered ceasefire agreement with Lebanon’s Hezbollah on Tuesday, setting the stage for an end to nearly 14 months of fighting linked to the ongoing war in the Gaza Strip. In the hours leading up to the Cabinet meeting, Israel carried out its most intense wave of strikes in Beirut and its southern suburbs and issued a record number of evacuation warnings. At least 24 people were killed in strikes across the country, according to local authorities, as Israel signaled it aims to keep pummeling Hezbollah in the final hours before any ceasefire takes hold. Israel’s security Cabinet approved the ceasefire agreement late Tuesday after it was presented by Prime Minister Benjamin Netanyahu, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. An Israel-Hezbollah ceasefire would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza. U.S. President-elect Donald Trump has vowed to bring peace to the Middle East, but neither he nor Netanyahu have proposed a postwar solution for the Palestinian territory, where Hamas is still holding dozens of hostages and the conflict is more intractable. Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed a series of accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran, which backs both groups. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” Netanyahu’s office later said Israel appreciated the U.S. efforts in securing the deal but “reserves the right to act against every threat to its security.” It was not immediately clear when the ceasefire would go into effect, and the exact terms of the deal were not released. The deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor all sides’ compliance. But implementation remains a major question mark. Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal “was designed to be a permanent cessation of hostilities.” Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday that it had not seen the agreement in its final form. “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 Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state.” of Lebanon, he said. “Any violation of sovereignty is refused.” Even as Israeli, U.S, Lebanese and international officials have expressed growing optimism over a ceasefire, Israel has continued its campaign in Lebanon, which it says aims to cripple Hezbollah’s military capabilities. An Israeli strike on Tuesday leveled a residential building in the central Beirut district of Basta — the second time in recent days warplanes have hit the crowded area near the city’s downtown. At least seven people were killed and 37 wounded, according to Lebanon’s Health Ministry. Strikes on Beirut’s southern suburbs killed at least one person and wounded 13, it said. Three people were killed in a separate strike in Beirut and three in a strike on a Palestinian refugee camp in southern Lebanon. Lebanese state media said another 10 people were killed in the eastern Baalbek province. Israel says it targets Hezbollah fighters and their infrastructure. Israel also struck a building in Beirut’s bustling commercial district of Hamra for the first time, hitting a site that is around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets in Beirut and other areas linked to Hezbollah’s financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously have not been targeted. The warnings, coupled with fear that Israel was ratcheting up attacks before a ceasefire, sent residents fleeing. Traffic was gridlocked, and some cars had mattresses tied to them. Dozens of people, some wearing their pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed loudly overhead. Hezbollah, meanwhile, kept up its rocket fire, triggering air raid sirens across northern Israel. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut’s southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti told The Associated Press that peacekeepers will not evacuate. The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few kilometers (miles) from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 30 kilometers (20 miles) north of the border. Hezbollah began firing into northern Israel, saying it was showing support for the Palestinians, a day after Hamas carried out its Oct. 7, 2023, attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have been exchanging barrages ever since. Israel escalated its campaign of bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut contributed.The state’s Department of Education will have a new secretary starting in early December. Khalid Mumin gave his two weeks' notice Friday afternoon. “It has been the honor of a lifetime to serve as Pennsylvania’s Secretary of Education,” Mumin said in a statement. “I began my career as a teacher in a classroom, and those early experiences watching students get excited about learning inspired me to become a principal, a superintendent, and ultimately Secretary of Education, so I could continue to fight for those students to get more support and more opportunities.” Mumin visited Pittsburgh this spring to announce that Penn Hills School District had navigated its way out of financial hardship. And in September, Mumin’s department awarded Allegheny County schools just shy of $11 million for environmental repairs . A Philadelphia native, Mumin has led the Education Department since June 2023. He'd previously been a superintendent of two southeastern Pennsylvania districts — Reading and Lower Merion. In a statement, Gov. Josh Shapiro thanked Mumin for delivering on the universal free breakfast program for more than 1 million students and investing in career and technical education. He led the department with “passion and integrity,” Shapiro added. The governor did not say where Mumin would work next. The Department of Education would also not share further details Friday. In Mumin’s place will be department Secretary Angela Fitterer, a former deputy chief of staff for Gov. Tom Wolf and policy advisor for the state House. Mumin’s final day as Secretary will be Dec. 6. Democratic Senate Education Committee leader Lindsey Williams of Allegheny County said she’s grateful Mumin increased support for student mental health. Williams added Mumin’s successor “must be prepared to defend Pennsylvania students’ constitutional right to a high-quality inclusive public education” given the incoming administration of Donald Trump. “It's hard to last an entire term in a cabinet position that's as high-impact as secretary of education,” said Republican House Education Committee leader Rep. Jesse Topper of Bedford County. “Overall I think he gave a good effort.” Topper, who Republican House members recently named as their next leader , said he worked alongside interim Secretary Fitterer on the bipartisan Basic Education Funding Commission: “She’s very capable to fill in this spot right now.” Pittsburgh state Rep. Aerion Abney, member of the state House education committee and Allegheny County chair , said his time in Harrisburg intersected with Mumin’s over the past two years: “I’ve come to know the secretary well.” “[Mumin’s] commitment to connecting future generations with the tools and resources needed to apply themselves to their fullest potential inside and outside of the classroom is second to none,” Abney said in a statement to WESA. “Good luck to him in all his future endeavors.” Abney said he’s confident Fitterer will “[continue] the mission to keep the playing field level for young Pennsylvanians and help prepare them for the next stage of their lives.”Adorable Peanuts Décor for a Holly Jolly Holiday DALLAS , Nov. 26, 2024 /PRNewswire/ -- Spread cheer with Gemmy's charming Peanuts ® Christmas decorations, available at Lowe's. Life-Size Animated Snoopy For tons of festive fun, include the Life-Size Animated Snoopy in your setup. 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Dane Mizutani: These Vikings are a lot better than Version 2022It seems a bit unfair to label a regular American this way and not explain why. Here’s the hit piece CNN did on me. How is registering voters “controversial”? I must be doing something right. pic.twitter.com/GC4Pc4WlFn Shouldn't CNN give some reason for tagging Presler with this pejorative? CNN labels Presler "controversial" in chyron but doesn't explain why at any point during this segment. They have the Vice News voiceover but never explain this label throughout the entire segment. https://t.co/2XtE50jOFG Look at @ScottPresler ! Getting cnn's knockers twisted! This is just another way to verify that Scott is doing good things and making a positive difference in the world. Well done, sir! https://t.co/kn4SstqlcP Basically, he's 'controversial' because he is helping the GOP win. Honestly, it's surprising they haven't tried to have him arrested yet. You know, Stacey Abrams not only refused to concede to Brian Kemp, but she then started a get out the vote organization that ended in financial scandal. Not once do I remember CNN describing her as “controversial.” Weird. https://t.co/EGFJCJ2Zhd Say it together now, 'That is (D) Different'! I've been saying it for years: Play the Democrat's game. Organize, influence, bring people into the right, and worm our way back into every institution just like the left. The @GOP could learn a lot from studying their tactics. https://t.co/qdzUTmijos CNN doesn't like that Scott is beating them at their own game. It's not a hit piece it's just... a piece. I appreciated you talking to us and think we had a good conversation https://t.co/9wVlwvoWRc A CNN employee tried to claim the story was neutral. Labeling someone just doing election work a 'provocateur' is hardly being neutral. Sorry, not sorry. You will be in the history books one day. Your story is far from complete! 🇺🇸🫡 @ScottPresler https://t.co/QnVDilN4x8 He helped save the country from the commies. This is actually awesome @ScottPresler !! It’s a “hit” piece, as in you’re certified platinum!! 🙌🏾❤️ https://t.co/3c9BEXwsEr CNN: Scott Pressler registering voters: "controversial", "provocateur" CNN: Bucks County Dem saying they would ignore election law and flout courts: "frustrated" See how they use language to poison the well? Erin Burnett can flap her gums for an entire hour, but her real opinions reside in the chyron. It's not just her opinion. It's the opinion of all of CNN. Any effective modern conservative voice is automatically deemed "controversial". Also, be very aware ... CNN knows Presler is often alone or with just a few people. They are intentionally trying to stir up their Leftist rage machine against him. Scott Pressler is the least controversial figure in politics. God CNN are desperate liars. They won't stop until they make him 'controversial'. It's what they do.
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