NEW YORK (AP) — U.S. stock indexes fell Thursday following some potentially discouraging data on the economy . The S&P 500 slipped 0.5% for its fourth loss in the last six days. It’s a pause for the index, which has been rallying toward one of its best years of the millennium . The Dow Jones Industrial Average lost 234 points, or 0.5%, and the Nasdaq composite sank 0.7% from its record set the day before. A report early in the morning said more U.S. workers applied for unemployment benefits last week than expected. A separate update, meanwhile, showed that inflation at the wholesale level, before it reaches U.S. consumers, was hotter last month than economists expected. Neither report points to imminent disaster, but they dilute one of the hopes that’s driven the S&P 500 to 57 all-time highs so far this year : Inflation is slowing enough to convince the Federal Reserve to keep cutting interest rates, while the economy is remaining solid enough to stay out of a recession. Of the two reports, the weaker update on the job market may be the bigger deal for the market, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley. A surge in egg prices may have been behind the worse-than-expected inflation numbers. “One week doesn’t negate what has been a relatively steady stream of solid labor market data, but the Fed is primed to be sensitive to any signs of a softening jobs picture,” he said. Traders are widely expecting the Fed will ease its main interest rate at its meeting next week. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy and to prices for investments, but they could also provide more fuel for inflation. A cut next week would have the Fed following other central banks, which lowered rates on Thursday. The European Central Bank cut rates by a quarter of a percentage point, as many investors expected, and the Swiss National Bank cut its policy rate by a steeper half of a percentage point. Following its decision, Switzerland’s central bank pointed to uncertainty about how U.S. President-elect Donald Trump’s victory will affect economic policies, as well as about where politics in Europe is heading. Trump has talked up tariffs and other policies that could upend global trade. He rang the bell marking the start of trading at the New York Stock Exchange on Thursday to chants of “USA.” On Wall Street, Adobe fell 13.7% and was one of the heaviest weights on the market despite reporting stronger profit for the latest quarter than analysts expected. The company gave forecasts for profit and revenue in its upcoming fiscal year that fell a bit shy of analysts’. Warner Bros. Discovery soared 15.4% after unveiling a new corporate structure that separates its streaming business and film studios from its traditional television business. CEO David Zaslav said the move “enhances our flexibility with potential future strategic opportunities,” raising speculation about a spinoff or sale. Kroger rose 3.2% after saying it would get back to buying back its own stock now that its attempt to merge with Albertsons is off . Kroger’s board approved a program to repurchase up to $7.5 billion of its stock, replacing an existing $1 billion authorization. All told, the S&P 500 fell 32.94 points to 6,051.25. The Dow Jones Industrial Average dropped 234.55 to 43,914.12, and the Nasdaq composite sank 132.05 to 19,902.84. In stock markets abroad, European indexes held relatively steady following the European Central Bank’s cut to rates. Asian markets were stronger. Indexes rose 1.2% in Hong Kong and 0.8% in Shanghai as leaders met in Beijing to set economic plans and targets for the coming year. South Korea’s Kospi rose 1.6% for its third straight gain of at least 1%, as it pulls back following last week’s political turmoil where its president briefly declared martial law. In the bond market, the 10-year U.S. Treasury yield rose to 4.33% from 4.27% late Wednesday. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
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The Huawei ICT Competition is a global programme aimed at inspiring young talent to excel in ICT through structured training, industry-level exposure, and competitions, all while driving digital transformation. ALSO READ: Rwandan students scoop second place in global ICT competition With the theme “Connection, Glory, Future” and the slogan “I. C. The Future,” this year’s competition brings together governments, higher education institutions, training organisations, and industry enterprises to foster a thriving ICT talent ecosystem. The roadshow covered universities across Rwanda, engaging students and lecturers with insights about the competition and encouraging participation. Beyond fostering participation, the Huawei ICT Competition also offers many benefits. They include: Promoting ICT skills The competition motivates students to pursue ICT education and provides them with a platform to showcase their skills on a global stage. Through hands-on challenges in advanced technologies like AI, cloud computing, and 5G, participants gain essential skills for the future workforce. By tackling real-world problems, the competition fosters innovation and creativity while exposing participants to cutting-edge trends and demands in the tech industry. Building a global ICT community The program connects students, educators, and industry professionals worldwide, building a collaborative ICT community that shares knowledge and ideas. By showcasing young talent, the competition inspires more students to explore technology-related careers, advancing STEM education globally. ALSO READ: Rwandan students take part in Huawei digital talent camp in China Career opportunities and industry exposure For high achievers, Huawei offers internships, career opportunities, and exposure to leading tech companies. This helps participants gain meaningful connections and boosts their professional development. The initiative also strengthens the ICT workforce by identifying and nurturing top talent critical for future technological progress. Benefits for participants Participants in the competition receive fully sponsored training in advanced fields, including Artificial Intelligence (AI), Cloud Computing, Big Data, 5G, Cybersecurity, and the Internet of Things (IoT). They also earn globally recognised Huawei certifications, enhancing their employability locally and internationally. The program emphasises hands-on experience, allowing participants to engage with real-world ICT scenarios and industry leaders. These interactions pave the way for valuable career collaborations and future opportunities. The competition further strengthens partnerships between Huawei and local universities, promoting collaboration in research, innovation, and ICT infrastructure development. ALSO READ: 20 students selected for Huawei ICT competition Registration and competition tracks Students can register for one of three competition tracks:The Network Track, covering Data Communication Networks, WLAN, Routing & Switching, and Network Security, the Cloud Track, focusing on Cloud Computing, Big Data, and AI and the Computing Track, which includes Cloud and Server Operating Systems, Database Management Systems, and Kunpeng architecture. Winners from the national preliminaries and final exams will advance to the regional phase of the competition. Top performers receive prizes, certifications, and potential job or internship opportunities with Huawei and its ICT partners. Seeds for the Future programme Complementing the competition is Huawei’s flagship corporate social responsibility (CSR) initiative, Seeds for the Future. This initiative fosters talent, innovation, and sustainable development in the ICT sector by providing university students with unique learning opportunities. Participants enhance their knowledge through training and hands-on experience with cutting-edge technologies, preparing them for careers in telecommunications and ICT. The programme also boosts local ICT ecosystems by empowering young people to drive innovation in their communities. Through collaboration and cultural exchange, Seeds for the Future connects participants globally, encouraging teamwork and knowledge sharing. The programme further supports sustainable economic growth by creating skilled professionals ready to shape the future of ICT.", "author": { "@type": "Person", "name": "Alice Umutesi" }, "publisher": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/", "sameAs": ["https://www.facebook.com/TheNewTimesRwanda/","https://twitter.com/NewTimesRwanda","https://www.youtube.com/channel/UCuZbZj6DF9zWXpdZVceDZkg"], "logo": { "@type": "ImageObject", "url": "/theme_newtimes/images/logo.png", "width": 270, "height": 57 } }, "copyrightHolder": { "@type": "Organization", "name": "The New Times", "url": "https://www.newtimes.co.rw/" } }
