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Stock market today: Wall Street rises, and Dow leaps on hopes for no more rate hikes

Published Wed, 26 Feb 2025 18:18:58 GMT

By STAN CHOE (AP Business Writer)NEW YORK (AP) — Stocks are gaining ground Tuesday after an encouraging report on U.S. inflation sent waves of relief through Wall Street.The S&P 500 was 1.9% higher and near its best level in two months. The Dow Jones Industrial Average was up 476 points, or 1.4%, as of 1:12 p.m. Eastern time, and the Nasdaq composite was 2.3% higher.The highly anticipated report showed not only that overall inflation slowed last month from September, but so did a key underlying figure that economists see as a better indicator of future trends. The slowdown bolstered bets on Wall Street that inflation is cooling enough for the Federal Reserve to finally be done with its market-crunching hikes to interest rates.Such hopes lifted all kinds of investments, and more than 90% of the stocks in the S&P 500 climbed in a widespread rally. Technology and other high-growth stocks tend to get some of the biggest boosts from easier rates, and a 2.6% jump for Amazo...

Padres owner Peter Seidler dies at 63

Published Wed, 26 Feb 2025 18:18:58 GMT

SAN DIEGO -- Peter Seidler, chairman and owner of the San Diego Padres, died Tuesday at age 63, the team confirmed.“The Padres organization mourns the passing of our beloved Chairman and owner, Peter Seidler,” Padres CEO Erik Greupner is quoted saying in a news release. "Today, our love and prayers encircle Peter’s family as they grieve the loss of an extraordinary husband, father, son, brother, uncle, and friend. Peter was a kind and generous man who was devoted to his wife, children, and extended family. He also consistently exhibited heartfelt compassion for others, especially those less fortunate. His impact on the city of San Diego and the baseball world will be felt for generations. His generous spirit is now firmly embedded in the fabric of the Padres. Although he was our Chairman and owner, Peter was at his core a Padres fan. He will be dearly missed.”Home Plate Gate at Petco Park will open Tuesday afternoon for fans to pay their respects, the Padres said. Parking at Tailgat...

Barring ‘thin blue line’ flag on Pennsylvania township property is unconstitutional, US court rules

Published Wed, 26 Feb 2025 18:18:58 GMT

A federal court has ruled that a Pennsylvania community’s resolution prohibiting the display of an American flag with a thin blue line on all township property is unconstitutional. The ruling about the flag that’s also used as part of the police union’s logo came down Monday. The dispute in Springfield Township, about 15 miles (24 kilometers) from Philadelphia, arose over the use of the black-and-white American flag, with one horizontal blue stripe. The township argued the use of the flag was creating “discontent and distrust” in the community against the police.Prohibiting the use of the thin blue line flag restricts the free speech of public employees under the First Amendment, U.S. District Judge Karen Marston decided.“The Township repeatedly suggests that the Thin Blue Line American Flag is of limited, if any, public value or concern because it is ‘offensive’ and ‘racist,’” Marston wrote in the court opinion. “But as this Court previously told the Township, ‘the Firs...

Several charged after Scotiabank Giller Prize gala interrupted during televised bash

Published Wed, 26 Feb 2025 18:18:58 GMT

Toronto police have charged three people accused of interrupting last night’s glitzy Scotiabank Giller Prize ceremony with an anti-Israel protest.Investigators allege the three people, who range in age from 23 to 25, used forged documents to gain access to the invitation-only literary event at the Four Seasons Hotel.All three face charges of obstructing property and using forged documents, and are due back in court in January.Over the course of the evening, two waves of protesters hopped on stage — the first carrying signs that read “Scotiabank Funds Genocide.”Pro-Palestinian groups have taken issue with Scotiabank’s investment in an Israeli arms firm.The second set of protesters disrupted the ceremony as Sarah Bernstein was named the winner of the $100,000 award, shouting anti-Israel slogans before being escorted out and arrested.Elana Rabinovitch, executive director of the Giller Prize, issued a statement saying the protesters showed “disrespect to Ca...

New Jersey man who posted threat to synagogues gets 15 months in prison

Published Wed, 26 Feb 2025 18:18:58 GMT

CAMDEN, N.J. (AP) — A New Jersey man who admitted posting a broad online threat aimed at synagogues and Jewish schools in the state last year was sentenced to 15 months in prison Tuesday. U.S. District Judge Christine O’Hearn in Camden imposed the sentence on Omar Alkattoul, 19, of Sayreville who earlier pleaded guilty to transmitting a threat in interstate and foreign commerce. He had faced up to five years in prison. Federal prosecutors have said Alkattoul expressed hatred of Jews and admitted posting online that “God cursed the Jewish people and God should burn gay people.” He also told investigators he had researched how to obtain a gun, shooting ranges and mass shootings but in the days before posting his threat was “about ‘50/50’” on whether he would actually carry out an attack.“No one should be targeted for violence or with acts of hate because of how they worship,” U.S. Attorney Philip Sellinger said in a statement. A message seeking comment was left with the pu...

Police charge man with murder in woman’s stabbing at Etobicoke condo

Published Wed, 26 Feb 2025 18:18:58 GMT

Toronto police have announced a charge after a woman was fatally stabbed at a condo complex in Etobicoke last week.Officers were called to the building in The Queensway and Kipling Avenue area on Friday, Nov. 10, at around 6:05 p.m.A female was found at the scene with a stab wound. She was later pronounced dead and a suspect was taken into custody.Police have not named the victim.On Tuesday, police said Felice Passarelli, 68, of no fixed address, has been charged with second-degree murder in the case.Investigators earlier said that the victim and suspect were known to each other.

Commission says North Carolina sports betting likely won’t begin in January

Published Wed, 26 Feb 2025 18:18:58 GMT

RALEIGH, N.C. (AP) — With licensing applications yet to be received and rules yet to be approved, legalized sports betting in North Carolina isn’t expected to begin in early January as the state’s new gambling laws permitted.Legislation approved by the General Assembly this year said the North Carolina State Lottery Commission, which is tasked with regulating the new mobile and in-person sports gambling, has until next June 15 to launch the betting options. But the law said gambling could begin as soon as Jan. 8 — which is the date of the College Football Playoff National Championship.Commission members and staff said at its sports betting committee on Tuesday that meeting the January date was unworkable given all the activities that have yet to occur, WRAL-TV reported. No start date was identified.Sterl Carpenter, who was hired by the commission to lead its new sports betting division, described for committee members the work that’s yet to be completed.Once applic...

‘No indication’ that NYC mayor is a target of FBI investigation, City Hall lawyer says

Published Wed, 26 Feb 2025 18:18:58 GMT

NEW YORK (AP) — New York City Mayor Eric Adams deflected more questions Tuesday about an FBI investigation into his 2021 campaign, saying revealing too much would “interfere” with law enforcement, but defended his ethics and laughed off a question about whether he expected to be indicted.“There has been no indication that I’ve seen that the mayor is a target,” added his chief legal counsel at City Hall, Lisa Zornberg.The federal investigation burst into public view on Nov. 2 when agents searched the home of Adams’ chief fundraiser during his 2021 mayoral campaign, Briana Suggs. Four days later, FBI agents stopped Adams as he was leaving a public event, asked his police security detail to step away and took his electronic devices.Speaking to reporters for about 45 minutes, Adams wouldn’t answer questions about whether phones or computers were seized from any other members of his administration or campaign, or explain a cryptic statement from one of his lawyers last ...

Coast Guard helicopter crashes on southeast Alaska island, injuring crew members on board

Published Wed, 26 Feb 2025 18:18:58 GMT

JUNEAU, Alaska (AP) — A U.S. Coast Guard helicopter on a search and rescue mission crashed in southeast Alaska, injuring crew members on board.The Coast Guard has released little additional information about the crash Monday night, which it says occurred on Read Island, about 80 miles (129 kilometers) east of Sitka. It was not clear how many crew members were on board or what the extent of their injuries were. The Associated Press left phone messages seeking comment from Coast Guard spokespersons.In a social media post Tuesday, the Coast Guard said responders from the community of Petersburg and another Coast Guard crew responded to the crash site to provide medical care.The Associated Press

Quebec to improve forest fire adaptation after record-beating wildfire season

Published Wed, 26 Feb 2025 18:18:58 GMT

Quebec’s forest fire prevention agency says the area burned by wildfires this year was greater than the previous 20 years combined. SOPFEU director general Éric Rousseau told reporters today that some 4.5 million hectares of land burned during this year’s record-breaking fire season, including more than 1.1 million in the bottom half of the province, where most people live.Rousseau says that while the province’s resources were strained, there were no deaths, primary residences lost or critical infrastructure destroyed. Forest Minister Maïté Blanchette Vézina says the province’s recent economic update included an additional $16 million for the fire prevention agency.She says the money will go toward the purchase of new equipment, fire prevention initiatives and ways to make communities more resilient to extreme weather events.Rousseau says about 20 of the agency’s employees needed to take leave because of the strain from this year’s historic wildfi...