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Stocks dip after inflation data, Fed economists’ warning

Published Sat, 22 Feb 2025 10:39:47 GMT

By STAN CHOE (AP Business Writer)NEW YORK (AP) — Stocks dipped to close an up-and-down Wednesday on Wall Street following the latest update on inflation and the latest warning of a possible recession.The S&P 500 fell 16.99, or 0.4%, to 4,091.95 after drifting between small gains and losses through the day. The Dow Jones Industrial Average slipped 38.29, or 0.1%, to 33,646.50, and the Nasdaq composite lost 102.54, or 0.9%, to 11,929.34.The main focus for more than a year on Wall Street has been high inflation and how much painful medicine the Federal Reserve will have to dole out to contain it. Wednesday’s update on inflation was a mixed one, showing prices at the consumer level were 5% higher last month than a year earlier. That’s still well above the Federal Reserve’s comfort level, and some underlying trends within the data were also concerning. That weighed on financial markets. But on the upside for investors, the overall inflation number was still b...

Brittney Griner to release memoir about ‘unfathomable’ Russian detainment

Published Sat, 22 Feb 2025 10:39:47 GMT

Peter Sblendorio | New York Daily NewsBrittney Griner hopes to enlighten people about her detainment in Russia and spread awareness about others being held there through a memoir that’s now in the works.The WNBA star plans to release a book in the spring of 2024 to detail her nearly 10-month imprisonment following a drug possession arrest, publisher Alfred A. Knopf announced Tuesday.“Readers will hear my story and understand why I’m so thankful for the outpouring of support from people across the world,” Griner said in a statement Tuesday. “By writing this book, I also hope to raise awareness surrounding other Americans wrongfully detained abroad.”Griner was arrested in February 2022 after Russian officials said they found vape canisters with cannabis oil in her luggage at Moscow’s Sheremetyevo Airport.The Phoenix Mercury center said packing the substance was an “honest mistake” and pleaded guilty to drug charges last July. She was sentenced to nine years in prison but returned to t...

Aaron Boone ejected early over rules debate; Yankees rally secure series win over Guardians

Published Sat, 22 Feb 2025 10:39:47 GMT

CLEVELAND — Back on April 2, when baseball’s new rules were still a daily topic of conversation, Aaron Boone was asked about the indirect impact the new 15-second time limit could have on teams’ abilities to challenge replays, an area of strength for the Yankees in recent years.“That time is definitely going to have a little bit of an effect,” Boone said. He added that managers like himself need to be more “reactionary” now when it comes to replays.But Terry Francona and the Guardians appeared to take their time challenging a first-inning play involving Yankees center fielder Aaron Hicks on Monday.Initially, umpires ruled that Hicks caught a ball before throwing to second base for an inning-ending double play. While replay showed that he clearly dropped it, a sizeable chunk of time went by before the Guardians initiated a review after the umpires convened to discuss the call.The amount of elapsed time angered Boone, and he was ejected during...

Mets take series from Padres behind Tylor Megill’s strong outing

Published Sat, 22 Feb 2025 10:39:47 GMT

Tylor Megill was in Syracuse two weeks ago preparing to start the season in Triple-A. After three appearances this season, he’s gone from a depth starter to one of the Mets’ more reliable arms.It’s a small sample size, but Megill is 3-0 with a 2.25 ERA after the Mets’ 5-2 win over the San Diego Padres on Wednesday afternoon at Citi Field. Megill went five innings in the win, allowing a two-run homer to Juan Soto in the first inning before going four strong afterwards.Left-hander Blake Snell didn’t give up much either, but the Mets (7-6) got two big bangs from Francisco Lindor and Pete Alonso and strung together a few more runs to take the series 2-1 from San Diego (7-6).Lindor homered off Snell (0-2) to lead off the third inning to tie the game at 2-2. Alonso launched the go-ahead bomb in the fifth with two out. It was his sixth of the season and he sits atop the league for the lead. The rest of the Mets only have six combined home runs.Soto’s hom...

A Connecticut man says it was hard to ‘come out’ about his cancer. Here’s why he wants to tell everyone now

Published Sat, 22 Feb 2025 10:39:47 GMT

Iran Brugueras, the owner of Hip Stop clothing and shoe store in Hartford, Conn., is going on a journey. Actually, Brugueras is on three different journeys.Right now, Brugueras and his wife, Nora, are on a 40-day vacation, with stops in Australia, Bali, Thailand, Maldives, Egypt and someplace in Europe they haven’t decided on yet. Iran and Nora named their vacation “You Only Live Once.”They’re on that YOLO trip as a result of a journey Brugueras started in the fall of 2021, when he was diagnosed with stage-four gastric cancer. The diagnosis led Brugueras to retire, to enjoy his life, family and however many years he has left.Brugueras also is on a mission to help people speak openly about their physical and mental health. He “came out” as a cancer patient to open up to his community and give friends and customers the chance to talk about their own anxieties.“I want to be transparent talking about cancer. I want to talk about the stigma of it. The stigma is why it took me a year and ...

Bonita plastic surgeon charged with murder in connection to patient's death

Published Sat, 22 Feb 2025 10:39:47 GMT

CHULA VISTA, Calif. — A South Bay plastic surgeon appeared in court Monday in connection to a patient's 2018 death.Dr. Carlos Chacon, 48, was originally charged with involuntary manslaughter after he allegedly performed a breast augmentation surgery on a woman who died during the procedure. He was is now being charged for murder following Monday's arraignment.His defense is arguing nothing has changed, following the amended criminal complaint by the San Diego County District Attorney's Office"The new evidence is that he walked into a different room and checked on patients. That’s new evidence? It’s a murder charge, not malpractice charges. It requires more than that," said Chacon's defense attorney Marc Carlos.On December 2018, 36-year-old Megan Espinoza had a breast augmentation surgery.Prosecutors say the mother of two went into cardiac arrest during the operation at Divino Plastic Surgery in Bonita. Chacon is accused of delaying emergency services for Espinoza for about three hou...

Canadian parliamentarians visit Taiwan in united show of support against China

Published Sat, 22 Feb 2025 10:39:47 GMT

OTTAWA — A delegation of senior parliamentarians from all four of Canada’s main federal parties is in Taiwan this week to show support for the island as it faces the threat of a Chinese invasion.Led by Liberal MP John McKay in his role as chair of the House of Commons defence committee, the delegation includes members of Parliament from the Conservatives, Bloc Québécois and NDP.In an interview, McKay said Taiwanese President Tsai Ing-Wen expressed gratitude for the visit, which is meant to demonstrate Canada’s continued commitment to the island in the face of Chinese aggression.“Ultimately, the objective is to support Taiwan,” said McKay, who described the island as being on the front lines of a geopolitical battle between democracy and authoritarianism.  “Ukraine has forced people to choose sides, to see who your friends are,” he said. “In some respects, Taiwan’s bullying by China is forcing everyone to choose sides.”China has v...

S&P/TSX composite ekes out gain, U.S. stock markets down after inflation data

Published Sat, 22 Feb 2025 10:39:47 GMT

TORONTO — Canada’s main stock index eked out a gain Wednesday, while U.S. markets slumped later in the day to post small losses on the heels of fresh inflation data. The S&P/TSX composite index was up 32.47 points at 20,454.32.In New York, the Dow Jones industrial average was down 38.29 points at 33,646.50.The S&P 500 index was down 16.99 points at 4,091.95,while the Nasdaq composite was down 102.54 points at 11,929.34.The Canadian dollar traded for 74.40 cents US, according to XE.com,compared with 74.17 cents US on Tuesday.The May crude contract was up US$1.73 at US$83.26 per barreland the May natural gas contract was down nine cents at US$2.09 per mmBTU.The June gold contract was up US$5.90 at US$2,024.90 an ounceand the May copper contract was up six cents at US$4.08 a pound.This report by The Canadian Press was first published April 12, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)The Canadian Press

Extended power outages raise questions about resilience of Quebec’s power grid

Published Sat, 22 Feb 2025 10:39:47 GMT

MONTREAL — As some Quebecers remained in the dark Wednesday a week after an ice storm struck the province, energy experts said the lengthy outages reopen questions about the resilience of the province’s electrical grid.As of Wednesday afternoon, Hydro-Québec said fewer than 1,700 customers were without power across the province, down from more than 3,000 earlier in the day. The number has been steadily dropping since the April 5 storm knocked out power to more than 1.1 million homes and businesses — almost a quarter of all customers.François Bouffard, an electrical engineering professor at McGill University, said that as Quebec becomes increasingly reliant on electricity, the province’s utility and its municipalities need to think seriously about how to strengthen the grid — and who will pay for those measures.“Resilience, in terms of energy, is becoming a real problem that as a society we need to sit down and think about very strategically,” he said in an interview Wedn...

US stocks slip after Fed warns on ‘mild’ recession

Published Sat, 22 Feb 2025 10:39:47 GMT

NEW YORK (AP) — Stocks closed lower following the latest update on inflation and the latest warning of a possible recession. The S&P 500 lost 0.4% Wednesday after bouncing between small gains and losses earlier. The Nasdaq composite slid 0.9% and the Dow also fell. Minutes from the Fed’s last meeting revealed Wednesday that its staff economists have forecast that a pullback in lending resulting from the banking turmoil will cause a “mild recession” starting later this year. A report Wednesday morning showed that prices at the consumer level were 5% higher last month than a year earlier. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story appears below. Stocks are wavering in mixed trading Wednesday following the latest update to show inflation continues to cool.The S&P 500 was 0.1% lower in afternoon trading after bouncing between small gains and losses earlier. The Dow Jones Industrial Average rose 48 points, or 0.1%, at 33,732, as of 2:38 p.m. Eastern time, whil...