The 10 best albums from the last 25 yearsSeneca rolls back to Class 3 state title gameNEW YORK (AP) — U.S. stock indexes drifted 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 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, 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 fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% 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 more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. 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 similar increases as the month before. Wednesday’s update 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 take pressure off 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. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. 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 to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. 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 13.2% 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 4.5% 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 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. 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. Indexes fell across much of Europe ahead of a meeting this week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
ODU_Henicle 92 run (Sanchez kick), 11:37. ODU_Young 1 run (Sanchez kick), 5:43. ARST_Rucker 36 pass from Raynor (Van Andel kick), :58. ODU_Young 24 run (Sanchez kick), 5:58. ARST_M.Stevenson 15 pass from Raynor (Van Andel kick), 1:54. ODU_Conroy 8 pass from Henicle (kick failed), 11:40. ARST_C.Jackson 35 pass from Raynor (Van Andel kick), 8:58. ODU_Conroy 75 pass from Henicle (kick failed), 8:46. ODU_Henicle 1 run (Sanchez kick), 4:48. ARST_Z.Wallace 10 run (Rucker pass from Raynor), :23. ARST_FG Van Andel 26, 6:03. RUSHING_Old Dominion, Henicle 19-206, Young 23-119, Roche 7-85, T.Sims 1-1, (Team) 2-(minus 5). Arkansas St., Z.Wallace 15-89, Cross 9-52, Raynor 15-8. PASSING_Old Dominion, Henicle 9-12-0-143. Arkansas St., Raynor 22-36-1-261. RECEIVING_Old Dominion, Conroy 4-90, Young 2-39, Paige 1-12, Alston 1-5, Roche 1-(minus 3). Arkansas St., Rucker 8-115, Stevenson 4-49, A.Jones 4-40, C.Jackson 2-35, Cross 2-8, McCrumby 1-9, Ealy 1-5. MISSED FIELD GOALS_None.
NEW YORK (AP) — New York City Mayor Eric Adams appears open to switching parties to become a Republican, as he declined to rule out a future change in political allegiances during a pair of interviews Friday that came as he has increasing warmed to President-elect Donald Trump. The comments from Adams, the top Democrat in one of the country's most liberal cities, riled critics who have grown concerned over the mayor's increasing willingness to throw his support behind Trump and his hardline immigration policies. Adams, who faces federal corruption charges , was a registered Republican in the 1990s and early 2000s but has spent his political career as a Democrat. In a Friday morning interview with the local cable news station NY1, Adams was asked if he would consider a return to the GOP. The Democrat appeared to leave open the possibility of a switch. “The party that’s the most important for me is the American party,” he said. “I’m a part of the American party. I love this country. This is the home of the free, the land of the brave.” In another interview about a half-hour later on PIX11, Adams said he would run for reelection as a Democrat but still appeared to leave some wiggle room for his future. “So no matter what party I’m on or vote on, I’m going to push for the American values," he said. "And I think America has told us, stop the squabbling, leaders, and start leading us out of the crisis that we’re facing.” Adams won office on a centrist platform and has spent significant time as mayor quarreling with the progressive wing of his party. But his rhetoric has taken a noticeable rightward turn in the weeks since Trump's election victory, particularly on immigration, with Adams boosting the president-elect's platform and appearing enthusiastic about the incoming administration. Rather than restricting cooperation with Immigration and Customs Enforcement, as he once promised, Adams recently expressed a willingness to roll back the city’s so-called sanctuary policies, and he plans to meet with Trump’s top border official over concerns about what the mayor said was the “rising illegal alien crime rate in New York City.” He has also praised those in Trump’s orbit, including Elon Musk, who has claimed falsely that Democrats are illegally “importing” migrants to garner votes. “This is a racehorse that wanted to run its right pace and we’ve been holding back that racehorse out of fear of being canceled,” Adams said of the country Tuesday. “And now you have a bunch of people who are not afraid of being canceled.” The shift comes as Adams is trying to fight off an indictment on federal corruption charges while governing the city and gearing up to run for a second term. Adams has pleaded not guilty in his criminal case, in which he has been accused of accepting free or discounted overseas trips and illegal campaign contributions from people looking to gain his influence, including people connected to Turkey or the Turkish government. Adams’ critics have seized on his recent comments about the Trump administration as a move toward self-preservation, accusing the mayor of cozying up to the next president in an effort to secure a pardon in his corruption case. “Eric Adams continues to sound more like he is auditioning for a job in right-wing media than running for reelection in a Democratic primary,” said Zohran Mamdani, a state assembly member who is challenging against Adams in the mayoral primary. “Eric Adams is in City Hall because Democratic voters sent him there. To serve his own narrow self-interests, he is clearly prepared to betray them.” Zellnor Myrie, a state senator who is also challenging Adams in the primary, said “at a time when the Republican Party has never been more out of line with New York values, we need a mayor who isn’t scared to call himself a Democrat.” “Instead of playing footsie with the next president, we need a mayor with the courage to stand up for our city,” Myrie wrote on X. Adams on Friday did distance himself from the Trump administration's potential plans to carry out mass deportations, saying, “You know, I’m not for mass deportation, but I’m not for mass saturation.” Still, the mayor's recent remarks are a major departure from his stance before he took office. In June of 2021, a few weeks before winning the Democratic mayoral primary, Adams spoke to a room full of immigrant New Yorkers about the challenges facing city residents who are in the country illegally. “Too many of our neighbors live in the shadows,” he said at the time, “scarred by the abusive rhetoric and tactics of the Trump era and fearing a denial of their rights.” Izaguirre reported from Albany. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!