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Stock market today: Wall Street yo-yos to a mixed close as oil and bond markets raise the pressure

Published Fri, 07 Feb 2025 14:44:13 GMT

NEW YORK (AP) — Wall Street yo-yoed to a mixed finish Wednesday after rising oil prices and bond yields cranked up the pressure even higher on the stock market. After taking several U-turns through the day, the S&P 500 inched up by 0.98, or less than 0.1%, to 4,274.51 and remains near its lowest level since June. The Dow Jones Industrial Average slipped 68.61 points, or 0.2%, to 33,550.27 after earlier bouncing between a gain of 112 points and a loss of 312. The Nasdaq composite rose 29.24, or 0.2%, to 13,092.85.September is on track to be the S&P 500’s worst month of the year as the stock market tries to absorb a leap by Treasury yields to heights unseen in more than a decade. High yields mean bonds are paying more in interest, which makes investors less willing to pay high prices for stocks and other riskier investments.The yield on the 10-year Treasury rose further Wednesday, to 4.61% from 4.55%. That’s up from about 3.50% in May and from just 0.50% early in t...

Reno casino expansion plan includes new arena that could be University of Nevada basketball home

Published Fri, 07 Feb 2025 14:44:13 GMT

RENO, Nev. (AP) — The University of Nevada’s basketball team could have a new off-campus home by 2026 under an ambitious 10-year expansion plan that Reno’s largest hotel-casino announced Wednesday. The nearly $1 billion private capital investment will be the biggest in the city’s history, according to officials of the Grand Sierra Resort.In addition to the new 10,000-seat sports, concert and special events arena, the expansion plans for the 140-acre (57-hectare) property include a new 800-room hotel tower, 300 riverfront residential units to help address workforce housing shortages and Las Vegas-like water shows, the company said. “The vision is to transform GSR into a destination where community, sports and entertainment come together,” resort owner Alex Mereulo said in a statement ahead of a news conference in Reno.Mereulo and University of Nevada President Brian Sandoval said in the statement that they intend to announce “the exploration of a partnership with the Nevada men...

Disney Plus starts password sharing crackdown ahead of November price increase

Published Fri, 07 Feb 2025 14:44:13 GMT

TORONTO — Disney Plus is joining the crackdown on password sharing.The Walt Disney Company started emailing its subscribers this week to signal changes to its streaming platform’s user agreement, which include “restrictions on account sharing.”The terms say account holders may not share their subscription outside their household, which it defines as “the collection of devices associated with your primary personal residence and the individuals who reside therein.”The changes come as Disney Plus introduces a new, cheaper ad-supported tier on Nov. 1 for $7.99 per month.In August, the company outlined plans to split its existing $11.99 commercial-free package into two options: $11.99 for the high-definition version on two devices and $14.99 for the 4K version on four devices.The 4K option is the same as the current Disney Plus subscription but costs $3 more per month.Disney’s password crackdown follows a move by Netflix to introduce similar rules in C...

Nearly a billion in wildfire costs helps to push B.C.’s projected deficit to $6.7B

Published Fri, 07 Feb 2025 14:44:13 GMT

VICTORIA — A record-high $966 million in wildfire spending and lower natural gas prices have added $2.5 billion to British Columbia’s projected deficit for this fiscal year. The new projection of $6.7 billion comes as Finance Minister Katrine Conroy releases the province’s first-quarterly report for 2023-2024.The report says updated wildfire expenses are $762 million more than planned for in Budget 2023, while revenue from natural gas royalties fell by $1.2 billion as prices declined.Conroy says the province had already taken into account a possible drop in natural gas revenue in this year’s budget projections, but didn’t anticipate prices dropping as much as they did.The provincial economy preformed better than expected this year with economic growth forecast at 1.2 per cent, but the government says that is likely to slow to about 0.8 per cent, just over half of what was expected for 2024. Conroy says B.C.’s diverse economy and strong financial plannin...

S&P/TSX composite down even as energy stocks climb with price of oil

Published Fri, 07 Feb 2025 14:44:13 GMT

TORONTO — Canada’s main stock index declined by more than 100 points on Wednesday despite strength in energy stocks as the price of oil climbed higher, which wasn’t enough to offset broad-based losses.The S&P/TSX composite index was down 120.17 points at 19,435.98.“What we’ve seen is that September is living up to its reputation for being a challenging month for the markets, said Edward Jones senior investment strategist Angelo Kourkafas.“The markets are trying to find some short-term support after three to four weeks of declines. The root, really, why we are seeing valuations get pressured, is that markets are trying to digest the higher-for-longer rate story as central banks are trying to push back against expectations for rate cuts.”September is on track to be Wall Street’s worst month of 2023 as it tries to absorb a recent leap by Treasury yields which have reached heights unseen in more than a decade. In New York, the Dow Jones industrial average was down ...

Rolling Stones reveal special-edition vinyls honouring Blue Jays, MLB teams

Published Fri, 07 Feb 2025 14:44:13 GMT

The Rolling Stones revealed special-edition vinyls that pay tribute to all 30 Major League Baseball (MLB) teams, including the Toronto Blue Jays, ahead of the legendary rock band’s anticipated new album next month.The Stones and MLB teamed up on the limited-edition release of Hackney Diamonds, which will be released on Oct. 20. It features custom art for each of the 30 MLB clubs in pocket jackets housing single disc baseball white vinyl.In 1989, The Rolling Stones’ “Steel Wheels Tour” came through North America, playing half of the dates at homes, or previous homes, to MLB teams, including at Toronto’s CNE Stadium and the SkyDome, now the Rogers Centre.They also appeared at Olympic Stadium in Montreal, the previous home of the Expos.Blue Jays limited edition Hackney Diamonds vinyl Photo: The Rolling Stones.Earlier this month, The Rolling Stones launched the new album at a globally live-streamed event from Hackney Empire in East London.Late drummer Charl...

Movie Review: Humans take a back seat in the stunning AI, sci-fi epic ‘The Creator’

Published Fri, 07 Feb 2025 14:44:13 GMT

The artificial intelligence in Gareth Edwards’ “ The Creator,” a visually magnificent if by-the-books epic, is not the AI making headlines at the moment. This is AI in the classic sci-fi mold — the Roy Battys of “Blade Runner,” the Avas of “Ex Machina,” the ones whose sentience we question and debate endlessly. Will the machines kill us? Take our jobs? Or do something that the movies haven’t dreamed possible yet? As the retired special forces guy cleaning up nuclear debris, Joshua (John David Washington), flatly tells a fellow worker when she posits that the AIs were indeed after their jobs: “They can have this one.”Regardless, for now, artificial intelligence is more allegory for the other than aspiring screenwriters, filmmakers or trash collectors. And, for Edwards and his co-writer Chris Weitz, they might even have more capacity for humanity and goodness than humans, which is not exactly part of the ChatGPT conversation either, though that would be an interesting twist.In the wor...

What would a government shutdown mean for me? SNAP, student loans and travel impacts, explained

Published Fri, 07 Feb 2025 14:44:13 GMT

NEW YORK (AP) — With gridlock persisting in Washington, a government shutdown is looking more and more likely ahead of Saturday night’s deadline.As the Senate marches ahead with a bipartisan approach aimed at keeping the government open, spending measures are still struggling to pass the Republican-controlled House. If a shutdown arrives, millions of federal employees will be furloughed and many others — including those working in the military and the Transportation Security Administration — will be forced to work without pay until it ends. A handful of federal programs that people nationwide rely on everyday could also be disrupted — from dwindling funds for food assistance to potential delays in customer service for recipients of Medicare and Social Security. The ripple effects would come down to how long a shutdown lasts and the varying contingency plans in place at impacted agencies.“Collectively, hundreds of millions of Americans, a majority of the population, are receivi...

The second GOP debate will kick off much like the first: Without Trump. Follow live updates

Published Fri, 07 Feb 2025 14:44:13 GMT

Follow along for live updates on the second 2024 Republican presidential debate, which begins at 9 p.m. ET in California. The field’s early front-runner, Donald Trump, is skipping the event, just as he did the first. He’ll be 2,000 miles away trying to woo union workers in Michigan amid a labor strike.The candidates on stage will be Florida Gov. Ron DeSantis, former Vice President Mike Pence, entrepreneur Vivek Ramaswamy, Sen. Tim Scott of South Carolina, former United Nations Ambassador Nikki Haley, former New Jersey Gov. Chris Christie and North Dakota Gov. Doug Burgum.What to know— 7 candidates qualified for the second debate. Here’s who missed the cut — Here’s how to watch tonight’s debate — Republicans face growing urgency to stop Trump ahead of debate — Trump heads to Michigan to compete with Biden for union votes — Who’s running for president? See a rundown of the 2024 candidatesAI Asa aims to take part in debate night conversationHe won’t be on the Si...

Secretary of State recommends mandatory driving test age remain at 79 in Illinois

Published Fri, 07 Feb 2025 14:44:13 GMT

ILLINOIS — Some senior citizens in Illinois may be able to wait a little longer before taking the mandatory driving test.Secretary of State Alexi Giannoulias is pushing to keep the age requirement at 79 on a permanent basis.A temporary law that boosted the age from 75 is set to expire on Sunday, September 30. The modification was approved in Springfield during the Covid-19 pandemic.“Statistics show that seniors are among the safest drivers of any age category,” Giannoulias said in a statement Wednesday.  “This change would make Illinois driving standards for senior drivers more consistent compared to other states while keeping Illinois as one of the strictest states for license renewals.” ‘Skip-the-Line’ program now in place at Illinois DMVs The statement from Secretary of State’s office stated there are more than 9.1 million licensed drivers in Illinois. Of those, approximately 280,000 individuals are between the ages of 75 and 78, or 3% of the driving population – who would be i...