Slowly, almost imperceptibly at first, a smile spreads across the little girl’s face. Blinking behind her glasses, she inches her wheelchair forward and gently reaches out to stroke the tiny gray horse. Soon, 9-year-old Josifina Topa Mazuch is beaming as she leads Ivi, a specially trained miniature horse that stands no taller than her pink wheelchair, through the school hallway. “I really want them to come again,” Josifina said of Ivi and a second miniature horse, Calypso, after a November morning visit to her primary school for children with special needs in Athens, Greece. “They made me feel really happy.” Ivi and Calypso are two of nine tiny equines from Gentle Carousel Greece, a Greek offshoot of Florida-based charity Gentle Carousel Miniature Therapy Horses that offers visits to hospitals, rehabilitation centers and care homes. Trained for more than two years to work comfortably in confined environments and with vulnerable children and adults, the horses, which are about 30 inches tall at the shoulders, provide a form of pet therapy that caregivers say offers valuable interactions and learning experiences, particularly for people confined to hospitals or care homes. However, the charity they are part of is struggling to make ends meet — run by one woman who funds the entire operation herself, with one assistant and no support team. Started in 2014 by Mina Karagianni, an interior architect and designer, the Athens operation is the only one affiliated with the Florida-based charity outside the United States. Karagianni came across Gentle Carousel while scouring the internet for information on caring for an abandoned Shetland pony she had rescued. When she saw photos of the charity’s work in pediatric oncology wards, “I was touched and I was moved, and I said: ‘OK, we have to bring this to Greece,’” she said. It took months to track down and persuade the U.S. charity to work with her, and even longer to obtain the requisite permits and arrange transport to bring the horses over. But after incessant efforts, six trained miniature horses stepped off a flight from Florida via Frankfurt in November 2013. Entirely self-funded through her day job, Karagianni now has a total of nine equines — the six American miniature horses, one that was later born in Greece, and two rescued ponies: Billy the Shetland pony and Giselle, who was rescued from the island of Santorini. Karagianni transformed her family land in Rafina, a seaside area east of Athens, into Magic Garden, complete with stables, a paddock for the horses to run free every day, a small café and an area to host children’s parties and baptisms. At the time, she was open for visits every weekend, charging a small entrance fee to help cover operational costs — specialized food for the horses, wood shavings for their bedding, grooming material, veterinarian visits and transportation to and from hospitals and care homes. She also began visiting schools and setting up an education program. From 2014 when Gentle Carousel Greece first opened until the first COVID-19 lockdowns in 2020, Karagianni said her little equine team saw about 12,000 children. s The lockdowns took their toll. Karagianni had to shut down the café and hasn’t been able to reopen it. With the small income from the café drying up, and Karagianni herself facing a health issue that took her out for 11⁄2 years, “we fell apart,” she said. Unable to pay utility bills, electricity and water companies cut off her supply, leaving her relying on neighbors for water for the horses. “I’m just starting to get myself back together again now,” she said. “With a lot of financial difficulties. But what can I do? I’m trying.” She’s got the utilities running again, but still owes thousands of euros. Approaches to companies and institutions for funding have been unsuccessful so far. “Maybe I just don’t know how to ask properly,” Karagianni said. Running Gentle Carousel single- handedly is taking its toll. “I’m making super-human efforts,” said Karagianni, who at 68 wonders how long she can continue and is searching for someone to ensure the program’s future. “I’m doing what I can. But I can’t do it alone,” she said. “I can’t do it without a team.” Despite her struggles, Karagianni said seeing the horses’ effect, particularly on children, makes her determined to continue for as long as she can. During a visit to the Athens special needs primary school, staff lined up children in wheelchairs so each could spend a few moments with the horses. Some reached out to stroke them; others bent their heads forward over the miniature horses for a kiss. “It’s incredible, the reactions. It’s like something awakens their senses,” special needs teacher Eleni Volikaki said. The state-run school, which shares facilities with a private charity for disabled children, ELEPAP, caters to those ages 6-14 with cognitive or mobility problems, or both. Anything that encourages the children to make even small hand gestures, such as reaching out to stroke a horse, “is very important for us. Especially when it’s spontaneous and comes directly from the child and isn’t instigated by us,” Volikaki said. “We saw things we didn’t expect. We saw children with autism, or children who are generally afraid of animals, coming very close, letting the (horses) get close to them,” Volikaki said. “And we saw ... spontaneous contact that under other circumstances we wouldn’t see.” The tiny horses don’t just enchant children. In the seaside area of Nea Makri northeast of Athens, residents of an adult psychiatric care home gather to greet Omiros – Homer in Greek – a 12-year-old miniature gray and white stallion with a flowing mane and blue eyes. Some show their excitement at the long-anticipated visit. Others are more shy at first, but nearly all eventually approach Omiros, leading him around the home’s recreation room or simply whispering to him. The interaction is invaluable, said social worker Alex Krokidas, who heads the staff at the Iasis home. “It offers, even if only briefly, the chance to create a bond that isn’t threatening, that has tenderness, quietness,” Krokidas said. “Let’s not forget, these people have faced many difficulties in their lives.” Meeting Omiros and having a few moments each with him “gives them the opportunity to be a bit calmer, to not feel threatened, to stroke the animal,” Krokidas said. “All of that is very therapeutic, it is deeply therapeutic.” Giorgos, one of the residents, initially kept his distance before letting Omiros come close. He leaned his head near the flowing mane. “He gave me a beautiful feeling when he was here,” he said after Omiros headed back into the recreation room. “Now that it’s gone, I feel an absence.” Get local news delivered to your inbox!WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Saturday he intends to nominate real estate developer Charles Kushner , father of Trump’s son-in-law Jared Kushner, to serve as ambassador to France. Trump made the announcement in a Truth Social post, calling Charles Kushner “a tremendous business leader, philanthropist, & dealmaker."
Trump wants pardoned real estate developer Charles Kushner to become US ambassador to FranceIrv Wilson Dies; Prolific Producer In Golden Era Of TV Movies Was 93
Mr Bayrou, 73, a crucial partner in Macron’s centrist alliance, has been a well-known figure in French politics for decades. His political experience is seen as key in efforts to restore stability as no single party holds a majority at the National Assembly. Mr Macron’s office said in a statement that Mr Bayrou “has been charged with forming a new government”. During the handover ceremony, Mr Bayrou said that “no one knows the difficulty of the situation better” than he does. “I’ve taken reckless risks all along my political life to raise the issue of debt and deficits in the most important elections,” he said. France is under pressure from the European Union’s executive body and financial markets to reduce its colossal debt, estimated to reach 6% of its gross domestic product this year. “I know that the risks of difficulties are much greater than the chances of success,” Mr Bayrou said, adding that he hopes to lead the country towards a “needed reconciliation”. “I think this is the only possible path to success,” he said. The new prime minister is expected to hold talks with political leaders from various parties in the coming days in order to choose new ministers. Former prime minister Michel Barnier resigned last week following a no-confidence vote prompted by budget disputes in the National Assembly, leaving France without a functioning government. Mr Macron in an address to the nation vowed to remain in office until his term ends in 2027. Mr Macron’s centrist alliance does not have a majority in parliament and Mr Bayrou’s Cabinet will need to rely on moderate lawmakers from the left and the right to be able to stay in power. Some conservatives are expected to be part of the new government. Mr Macron’s strategy aims at preventing far-right leader Marine Le Pen from holding “make or break” power over the government. Ms Le Pen helped oust Mr Barnier by joining her National Rally party’s forces to the left to pass the no-confidence motion last week. Mr Bayrou’s appointment is also in line with Mr Macron’s efforts to build a non-aggression pact with the Socialists so that they commit not to vote against the government in any future confidence motion. Mr Bayrou leads the centrist Democratic Movement, known as MoDem, which he founded in 2007. In 2017, he supported Mr Macron’s first presidential bid and became a weighty partner in the French president’s centrist alliance. At the time, he was appointed justice minister, but he quickly resigned from the government amid an investigation into the MoDem’s alleged embezzlement of European Parliament funds. Mr Bayrou this year was cleared in the case by a Paris court, which found eight other party officials guilty and sentenced the party to pay a fine. Mr Bayrou became well known to the French public when he was education minister from 1993 to 1997 in a conservative government. He was three times a candidate for president: in 2002, 2007 and 2012.DALLAS — The Winnipeg Jets have finally hit the end of the long road here in Dallas. Now the question is whether the hockey club has any fuel left in the tank? Read this article for free: Already have an account? To continue reading, please subscribe: * DALLAS — The Winnipeg Jets have finally hit the end of the long road here in Dallas. Now the question is whether the hockey club has any fuel left in the tank? Read unlimited articles for free today: Already have an account? DALLAS — The Winnipeg Jets have finally hit the end of the long road here in Dallas. Now the question is whether the hockey club has any fuel left in the tank? Stops in Pittsburgh, Nashville, St. Paul, Los Angeles and Las Vegas have produced a 2-3-0 record so far. If the Jets are to finish this 10-day trek at .500, they’ll need to find a way to beat a tough Stars team on Sunday afternoon. “This has been a grind. It really has,” said head coach Scott Arniel. “We’ve got one more to go here. We’d all love to go home 3-3.” Ryan Sun / The Associated Press The Winnipeg Jets will play the Dallas Stars on Sunday to cap off a six-game road trip that’s seen them travel from Pittsburgh to Los Angeles – with a few stops in between – and earn a record of 2-3-0 in their last five games. One potentially good bit of news emerged during Saturday’s optional practice at American Airlines Center — forward Nikolaj Ehlers, who left Friday’s 4-3 loss to the Golden Knights with a lower-body injury, has not entirely been ruled out. “We’ll see how he is tomorrow, see if he’s any better. Get some treatment, get some rest today. And then look at it tomorrow and see where we’re at,” said Arniel. “He’s the type of guy that wants to play. It doesn’t help that it’s a 3:30 game (with no morning skate).” “He has a skill-set that opposition coaches kind of circle. His skill and his speed and his ability to create.” Ehlers was one of a handful of players who didn’t hit the ice, along with Mark Scheifele (who is also battling an undisclosed ailment), Vlad Namestnikov (he also missed Thursday’s skate in Vegas for maintenance) and defenceman Dylan DeMelo. Winnipeg still has the best record in the NHL at 18-6-0, although they are just 3-5-0 in the last eight games overall as tough travel, tough opponents and some tough breaks on the injury front all take a toll. Shutdown defenceman Dylan Samberg suffered a broken foot a week ago against the Predators and is sidelined indefinitely, and the Jets certainly missed Ehlers’ presence for the second half of their game against the Golden Knights, especially late as they pushed for the equalizer with a 6-on-4 advantage in the final minute. “He has a skill-set that opposition coaches kind of circle. His skill and his speed and his ability to create,” Arniel said of Ehlers, who is third on the team in scoring with 25 points (9G, 16A) in 24 games. “It’s a hole when he’s not there.” Alex Iafallo jumped up from the fourth line to take Ehlers’ spot beside Namestnikov and Cole Perfetti, who snapped an 11-game scoring slump with two goals. That trio would likely remain intact if Ehlers can’t go, and David Gustafsson — a healthy scratch for 23 of 24 games — would come into the lineup to fill Iafallo’s role. Ian Maule / The Associated Press Winnipeg Jets’ Cole Perfetti scores on Vegas Golden Knights goaltender Adin Hill in the first period of their game Friday in Las Vegas. The Golden Knights won 4-3. “I was real proud of Cole last night. He’s been struggling,” said Arniel. “The biggest thing is where he went and scored that first goal. It was to the net-front against a team that’s real hard. Vegas doesn’t let you get inside, and he went right in there and got that first one. I liked the way he competed on pucks. That line has to do that. If Al’s in there tomorrow, we’ll see how it goes without Fly (Ehlers).” Iafallo had a great net-front drive on Perfetti’s second goal and will look to do more of the same if required. “It’s tough when a guy goes down like Fly in the second, obviously we had to just pick up from there and try to get as many chances as we could,” he said. “It was great for him to get those two goals. Now he’s just got to remember to not grip his stick too hard. Just play the right way and it will eventually go in.” “It was great for him to get those two goals. Now he’s just got to remember to not grip his stick too hard. Just play the right way and it will eventually go in, and that’s what he did yesterday. He had a great game.” Hellebuyck will start in goal for the Jets after getting a rest against the Golden Knights. Arniel wasn’t about to tip his hand as to other potential lineup decisions. He opted to scratch third-pairing defencemen Ville Heinola and Colin Miller against Vegas in favour of Dylan Coghlan (making his Jets debut after 23 straight scratches) and Logan Stanley (coming off the injured list). “I felt good. First couple shifts I got into it early with a little turnover and then getting my stick on a puck that probably was going to go into the net,” said Coghlan, who still has several friends on the Golden Knights after playing his first two NHL seasons (2020-21, 2021-22) there. The undrafted 26-year-old says he prides himself on being a good teammate and understood why it was tough to crack an otherwise healthy Jets lineup that was flying so high. “I feel like I’ve done a pretty good job trying to stay mentally prepared and ready. Through video and stuff, just making sure those little things I’m not losing sight of,” said Coghlan. “It is hard, but I’ve done it in the past so it’s not something I’m new to. Obviously everybody wants to play, but happy for all the guys and I don’t think anybody expected us to start 15-1. I’m not one to complain when guys are playing well and the team’s doing so well. That’s kind of my mindset.” Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Although they suffered a second straight loss, Arniel was much more pleased with the effort against Vegas than the one on Wednesday night in Los Angeles, where the Jets mustered just 14 shots in a lacklustre 4-1 setback. “I liked a lot of what we did. There were a lot of good things. We stayed in it,” said Arniel. “Now Dallas, a different team, a different look.” This is the second meeting of the year between the Jets and Stars, with Winnipeg taking the first by a 4-1 score back on Nov. 9 at Canada Life Centre. “To me this is the second-best team in the Western Conference,” Arniel said of Dallas, which is coming off a 5-3 victory over Colorado on Friday. “These guys are real good and they’re probably going to be real angry after our game that we had in Winnipeg. We’re going to have make sure we have all our energy, all our right mindset.” Iafallo doesn’t believe that will be a problem, even if fatigue is a real factor during a schedule such as this. “We definitely have to have a good game and try to get a win out of this,” he said. “Our expectations are high, so we’ve got to keep pushing to get to that next level. Obviously we had a good start to the season but this long road trip, we’ve got to come together and finish it with a good end. The boys are going to be ready to do whatever it takes.” mike.mcintyre@freepress.mb.ca X and Bluesky: @mikemcintyrewpg Mike McIntyre is a sports reporter whose primary role is covering the Winnipeg Jets. After graduating from the Creative Communications program at Red River College in 1995, he spent two years gaining experience at the before joining the in 1997, where he served on the crime and justice beat until 2016. . Every piece of reporting Mike produces is reviewed by an editing team before it is posted online or published in print — part of the ‘s tradition, since 1872, of producing reliable independent journalism. Read more about , and . Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider . Our newsroom depends on its audience of readers to power our journalism. Thank you for your support. Mike McIntyre is a sports reporter whose primary role is covering the Winnipeg Jets. After graduating from the Creative Communications program at Red River College in 1995, he spent two years gaining experience at the before joining the in 1997, where he served on the crime and justice beat until 2016. . Every piece of reporting Mike produces is reviewed by an editing team before it is posted online or published in print — part of the ‘s tradition, since 1872, of producing reliable independent journalism. Read more about , and . Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider . Our newsroom depends on its audience of readers to power our journalism. Thank you for your support. Advertisement Advertisement
None... Populism can degrade democracy but is on the rise − here’s what causes this political movement and how it can be weakened. There’s a widespread view that populism is on the rise, from the United States and Turkey to India and Hungary. What is fueling this movement? Populism is a political ideology that positions “the people” as a morally just, good group in society, in contrast with other people who are elitist and out of touch with society. Politicians such as former President Donald Trump have used this general approach to help propel their rise to power – and maintain their popularity among their supporters. Trump, for example, described his political campaign in June 2024 as an “epic struggle to liberate our nations from all of the sinister forces who want to destroy them.” These “sinister forces” typically include everything from the media and international organizations to mainstream science and immigrants. And Viktor Orbán, the populist prime minister of Hungary since 2010, often blames international groups such as foreign nonprofits for interfering in Hungarian politics and acting against the country’s interests. The European Parliament determined in 2022 that Hungary could no longer be considered a democracy. In its most radical, authoritarian form, populism poses a threat to democracy. It polarizes societies and erodes trust in experts. But populist leaders still hold appeal, as they promise to return power to the people. Yet they often deliver something very different from what they promise. They tend to worsen problems such as gender and ethnic inequality, without addressing the gap between the rich and the poor. I have dedicated much of my career to analyzing populist movements, both as a politician serving in the Hungarian Parliament in opposition to Orbán’s regime and now as a scholar. This unique experience has taught me one thing: Protecting democracy from populism requires first understanding its root causes. What’s behind populism Many journalists and political scientists view populism as a “cultural backlash” of conservative white men who fear the loss of their privilege in a diversifying world. Immigration, race and religion are three issues that are often central to many populists’ politics. There are also economic factors such as a poor economy, international trade, industrial robots and artificial intelligence that some experts think also contribute to the rise of populism. This is because the growth of artificial intelligence, for example, has led to the reduction of stable jobs in sectors such as manufacturing, which once gave working-class people a pathway to social mobility. Many pundits and scholars still question whether the economy plays a significant role in populism. This argument takes various forms, but it typically boils down to statements like this one, made by a prominent political scientist about the 2016 U.S. presidential election: “Status threat, not economic hardship, explains the 2016 presidential vote.” In other words, the 2016 presidential vote was influenced by white voters’ fears about losing their dominant status in society rather than because of their financial struggles – at least according to this argument. It’s the economy My recent research shows a different source of anxiety behind growing support for populism: people’s concerns about economic insecurity are a crucial factor driving populism in Europe, North America and Latin America. For example, Americans who lost their jobs in the manufacturing industry in the 2010s were especially likely to abandon the Democratic Party and vote for Trumpin 2016. There is evidence that people’s anti-immigration attitudes are also fueled by their anxiety about their own jobs. Research also shows that Europeans who lost their jobs or whose earnings were reduced because of competition with low-wage immigrant workers, for example, were more likely to feel threatened by globalization. They were also especially likely to embrace nationalism and vote for populist right-wing candidates throughout Western Europe. Populist voters in the US Still, research shows that not all populist voters can be lumped under the same umbrella. Populist voters are a diverse group with various motivations and concerns. For example, artificial intelligence threatens jobs more in the U.S. and in Western Europe than in Eastern Europe, making Americans and Western Europeans more concerned about this issue than Eastern Europeans. Race is another factor. Some white voters facing financial hardship may feel as if immigrants and people of color are responsible for taking the available jobs – and are to blame for their economic woes. Populism is not just about conservative white men, however, despite the popular support Trump holds among many in this group. For example, Democratic politicians in the U.S. have increasingly struggled to win the support of working-class voters without a college degree, including a growing number of Black voters. Black voters still generally vote for Democrats. But the Democratic Party has seen about a 28 percentage point decrease in Black voters between 2020 and 2024. Most of them switched to become Republicans. This voter realignment has been occurring since 2008. When Trump was elected in 2016, he not only increased his party’s support among the white working class by four percentage points from GOP presidential nominee Mitt Romney’s 2012 defeat, he also increased support among Black working-class voters by the same amount. This shift suggests that the Democrats have a working-class problem and not a white working-class problem. Economic factors, rather than just racial identity, are a major factor driving voters away from the Democratic Party. Not all populist voters are extremists Many media outlets tend to focus on core populist voters, who are masters of causing outrage with what one populism scholar calls “bad manners.” In this context, that means using inflammatory language or making politically incorrect statements, among other tactics, to draw attention to their cause. The most successful populist political movements in places such as Italy and Poland, however, have grown by appealing to voters concerned with bread-and-butter issues. They combine the core group of populist voters, who are motivated by culture and racism, and an outer group of voters who are not primarily motivated by these issues. Finally, voters’ support for populist leaders also depends on how nonpopulist, mainstream politicians appeal to them. Inclusive socioeconomic policies, such as expanding unemployment insurance, for example, can help stave off a populist surge. The way ahead There is no one-size-fits-all answer to the challenge of populism. For example, job guarantee programs help provide stable work, reducing the economic insecurity that often fuels populist sentiment. In an economy characterized by gig work and people frequently moving from one job to another, portable benefits that workers carry from job to job – giving them continuous access to health care, retirement savings and other benefits – may help alleviate the anxieties that drive people to populism. Boosting affordable housing and controlling rents can also promote more stable living conditions. I think countering right-wing populism demands a concerted effort to tackle the economic insecurity that fuels this global phenomenon. The path forward may be challenging, but the alternative, a world where democracy is eroded and societies are polarized, is even more frightening. Gábor Scheiring is Professor of comparative Politics, Georgetown University. Source: THE CONVERSATION (https://theconversation.com) June 26, 2024.Spending Christmas alone this year? How to make the most of it | CNN
STEPHENVILLE, Texas (AP) — Victor Gabalis and Kayvon Britten each accounted for two touchdowns, Darius Cooper had 190 yards receiving with a score and No. 13 seed Tarleton State won its inaugural FCS playoff game with a 43-29 victory over unseeded Drake on Saturday in a first-round matchup. Tarleton State (10-3) will travel to No. 4 seed South Dakota (9-2) in a second-round game on Dec. 7. Drake jumped out to a 14-3 lead late in the first quarter behind Blake Ellingson’s 2-yard touchdown run and Luke Bailey’s 9-yard touchdown pass to Taj Hughes. Britten answered with a 6-yard touchdown run early in the second quarter and his 1-yard TD run stretched the Texans’ lead to 29-14 late in the third. Gabalis’ 49-yard touchdown pass to Cooper made it 36-21 with 10:49 remaining. Gabalis was 26-of-36 passing for 337 yards with two touchdowns. Cooper finished with 11 catches and Britten added 146 yards rushing on 29 carries. Kyle Weber also scored on a pair of short-yardage touchdown runs for the Texans. Bailey and Hailey connected again with a 10-yard score late in the third quarter that pulled the Bulldogs to 29-21. Bailey completed 31 of 49 passes with three touchdown passes and two interceptions. Hughes made 11 catches for 63 yards for Drake (8-3). __ Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP collegebasketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball
COLUMBUS, Ohio (AP) — A fight broke out at midfield after Michigan stunned No. 2 Ohio State 13-10 on Saturday as Wolverines players attempted to plant their flag and were met by Buckeyes who confronted them. Related Articles College Sports | Michigan shocks No. 2 Ohio State, 13-10, wins fourth straight in heated rivalry College Sports | Michigan State holds off No. 12 North Carolina 94-91 in overtime for 3rd at Maui Invitational College Sports | Danny Wolf scores 20 and Michigan knocks off No. 22 Xavier 78-53. College Sports | SEC losses are big gains for SMU and Indiana in latest College Football Playoff rankings College Sports | Hunter, Haggerty again lead way for Memphis in 71-63 win over Michigan State to reach Maui finale Police had to use pepper spray to break up the players, who threw punches and shoves in the melee that overshadowed the rivalry game. Ohio State police said in a statement “multiple officers representing Ohio and Michigan deployed pepper spray.” Ohio State police will investigate the fight, according to the statement. After the Ohio State players confronted their bitter rivals at midfield, defensive end Jack Sawyer grabbed the top of the Wolverines’ flag and ripped it off the pole as the brawl moved toward the Michigan bench. Eventually, police officers rushed into the ugly scene. Ohio State coach Ryan Day said he understood the actions of his players. “There are some prideful guys on our team who weren’t going to sit back and let that happen,” Day said. The two Ohio State players made available after the game brushed off questions about it. Michigan running back Kalel Mullings, who rushed for 116 yards and a touchdown, didn’t like how the Buckeyes players involved themselves in the Wolverines’ postgame celebration. He called it “classless.” “For such a great game, you hate to see stuff like that after the game,” he said in an on-field interview with Fox Sports. “It’s just bad for the sport, bad for college football. But at the end of the day, you know some people got to — they got to learn how to lose, man. ... We had 60 minutes, we had four quarters, to do all that fighting.” Michigan coach Sherrone Moore said everybody needs to do better. “So much emotions on both sides,” he said. “Rivalry games get heated, especially this one. It’s the biggest one in the country, so we got to handle that better.” — By MITCH STACY, Associated Press
NEW YORK (AP) — Stocks fell broadly on Friday as Wall Street closed out a holiday-shortened week on a down note. The losses were made worse by sharp declines for the Big Tech stocks known as the “Magnificent 7”, which can heavily influence the direction of the market because of their large size. The S&P 500 fell 66.75 points, or 1.1%, to 5,970.84. Roughly 90% of stocks in the benchmark index lost ground, but it managed to hold onto a modest gain of 0.7% for the week. The Dow Jones Industrial Average fell 333.59 points, or 0.8%, to 42,992.21. The tech-heavy Nasdaq composite fell 298.33 points, or 1.5%, to 19,722.03. Semiconductor giant Nvidia slumped 2.1%. Microsoft declined 1.7%. Each has a market value above $3 trillion, giving the companies outsized sway on the S&P 500 and the Nasdaq. A wide range of retailers also fell. Amazon fell 1.5% and Best Buy slipped 1.5%. The sector is being closely watched for clues on how it performed during the holiday shopping season. Energy stocks held up better than the rest of the market, with a loss of less than 0.1% as crude oil prices rose. “There’s just some uncertainty over this relief rally we’ve witnessed since last week,” said Adam Turnquist, chief technical strategist for LPL Financial. The S&P 500 gained nearly 3% over a 3-day stretch before breaking for the Christmas holiday. On Thursday, the index posted a small decline. Despite Friday's drop, the market is moving closer to another standout annual finish . The S&P 500 is on track for a gain of around 25% in 2024. That would mark a second consecutive yearly gain of more than 20%, the first time that has happened since 1997-1998. The gains have been driven partly by upbeat economic data showing that consumers continued spending and the labor market remained strong. Inflation, while still high, has also been steadily easing. A report on Friday showed that sales and inventory estimates for the wholesales trade industry fell 0.2% in November, following a slight gain in October. That weaker-than-expected report follows an update on the labor market Thursday that showed unemployment benefits held steady last week. The stream of upbeat economic data and easing inflation helped prompt a reversal in the Federal Reserve's interest rate policy this year. Expectations for interest rate cuts also helped drive market gains. The central bank recently delivered its third cut to interest rates in 2024. Even though inflation has come closer to the central bank's target of 2%, it remains stubbornly above that mark and worries about it heating up again have tempered the forecast for more interest rate cuts. Inflation concerns have added to uncertainties heading into 2025, which include the labor market’s path ahead and shifting economic policies under incoming President Donald Trump. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation , a bigger U.S. government debt and difficulties for global trade. Amedisys rose 4.7% after the home health care and hospice services provider agreed to extend the deadline for its sale to UnitedHealth Group. The Justice Department had sued to block the $3.3 billion deal, citing concerns the combination would hinder access to home health and hospice services in the U.S. The move to extend the deadline comes ahead of an expected shift in regulatory policy under Trump. The incoming administration is expected to have a more permissive approach to dealmaking and is less likely to raise antitrust concerns. In Asia, Japan’s benchmark index surged as the yen remained weak against the dollar. Stocks in South Korea fell after the main opposition party voted to impeach the country’s acting leader. Markets in Europe gained ground. Bond yields held relatively steady. The yield on the 10-year Treasury rose to 4.62% from 4.59% late Thursday. The yield on the two-year Treasury remained at 4.33% from late Thursday. Wall Street will have more economic updates to look forward to next week, including reports on pending home sales and home prices. There will also be reports on U.S. construction spending and snapshots of manufacturing activity.
Nonebaileystock In August this year, I voiced a negative opinion on Tesla, Inc. ( NASDAQ: TSLA ) stock, arguing that I see a “weak AI promise on top of a struggling EV business.” Since the publication of the article, Tesla shares have Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Not financial advice Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Christopher Nolan is following his Oscar-winning “Oppenheimer” with a true epic: Homer’s “The Odyssey.” It will open in theaters on July 17, 2026, Universal Pictures said Monday. Details remain scarce, but the studio teased that it will be a “mythic action epic shot across the world using brand new IMAX technology.” It will also be the first time that an adaptation of Homer’s saga will play on IMAX film screens. Nolan has been an IMAX enthusiast for years, going back to “The Dark Knight,” and has made his last three films exclusively using large format film and the highest resolution film cameras. For “Oppenheimer,” the first black-and-white IMAX film stock was developed. Nolan hasn’t said specifically what the new technology for “The Odyssey” will be, but earlier this month he told The Associated Press that they’re in an intensive testing phase with IMAX to prepare for the new production. “They have an incredible engineering staff, really brilliant minds doing extraordinary work,” Nolan said. “It’s wonderful to see innovation in the celluloid film arena still happening and happening at the highest level possible.” “The Odyssey” will be Nolan’s second collaboration with Universal Pictures following “Oppenheimer,” which earned nearly $1 billion at the box office and won the filmmaker his first Oscars, including for best director and best picture . Rumors about his next project have been swirling ever since, with near-daily speculations about plot — none of which turned out to be true — and casting. While there are many reports about actors joining the ensemble, none has been officially confirmed by the studio. Lindsey Bahr, The Associated Press