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Stocks slip as rate worries overshadow big bank profits

Published Wed, 12 Feb 2025 14:49:35 GMT

NEW YORK (AP) — Stocks are slipping Friday as a swirl of competing forces spins Wall Street, from strong profits for financial giants to worries about interest rates and the economy’s strength. The S&P 500 was 0.5% lower in midday trading after giving up an early morning gain. The Dow Jones Industrial Average was down 208 points, or 0.6%, at 33,821, as of 11:45 a.m. Eastern time, while the Nasdaq composite was 0.7% lower.Stocks are still on track for a weekly gain, built in part on hopes the Federal Reserve may soon end its barrage of rate hikes as inflation cools. High interest rates can stifle inflation but only by hurting the economy, raising the risk of a recession and dragging on prices for investments. A top Fed official dampened those hopes Friday after saying inflation remains far too high and more hikes to interest rates may be needed. Christopher Waller, a member of the Fed’s governing board, also said that even after hikes end, rates will likely need to stay hig...

El Departamento de Justicia acusa a los líderes del cártel mexicano de Sinaloa en una amplia investigación sobre el tráfico de fentanilo

Published Wed, 12 Feb 2025 14:49:35 GMT

(CNN) — El Departamento de Justicia de Estados Unidos anunció este viernes cargos contra más de dos docenas de acusados, entre ellos tres hijos del famoso narcotraficante Joaquín “El Chapo” Guzmán, en el marco de una amplia investigación sobre el tráfico de fentanilo.El Fiscal General Merrick Garland anunció los cargos en una conferencia de prensa en Washington, en la que también participaron la administradora de la DEA, Anne Milgram, y otros altos cargos de la fiscalía federal.Las acusaciones contra los líderes del poderoso cártel mexicano de Sinaloa se hicieron públicas, incluso contra los hijos de Guzmán, conocidos como los Chapitos.¿Cuál es la estrategia de la Casa Blanca para controlar el fentanilo?Los cargos de tráfico de fentanilo, armas y blanqueo de dinero en tres acusaciones implicaban a un total de 28 acusados, de los cuales 23 residían en México, cuatro en China y uno en Guatemala.Se presentaron cargos contra presuntos proveedores de sustancias químicas...

Grains mixed, Livestock lower.

Published Wed, 12 Feb 2025 14:49:35 GMT

CHICAGO (AP) — Grain futures mixed Friday in early trading on the Chicago Board of Trade. Wheat for May was down 1 cent at $6.7150 a bushel; May corn gained .50 cent at $6.58 a bushel; May oats lost 2.75 cents at $3.35 a bushel; while May soybeans was down 1.95 cents at $14.9425 a bushel.Beef and pork lower on the Chicago Mercantile Exchange.Apr. live cattle lost 1.25 cents at $1.75 a pound; Apr. feeder cattle decreased .40 cent at $2.0272 a pound; Apr. lean hogs was off .08 cent at $.7182 a pound.Source

Florida floods: FLL airport reopens as residents clean up mess

Published Wed, 12 Feb 2025 14:49:35 GMT

FORT LAUDERDALE, Fla. (AP) — Fort Lauderdale’s airport reopened Friday morning, two days after an unprecedented deluge left planes and travelers stranded, as residents in the city’s hardest hit neighborhoods began the slow process of cleaning up the mess left behind.Officials at Fort Lauderdale-Hollywood International Airport completed final inspections after sunrise Friday and resumed operations at 9 a.m.In a tweet Friday morning, airport officials advised travelers to check with their airlines on updated flight schedules before going to the airport.The airport shut down Wednesday evening as a storm dumped more than 2 feet (60 centimeters) of rain.“Nature has been unkind to us,” Broward County Mayor Lamar Fisher said during a news conference Thursday afternoon at the airport.While it started raining on Monday in South Florida, much of the water fell Wednesday, and the Fort Lauderdale area saw record rainfall amounts in a matter of hours, ranging from 15 inches (38 centi...

Suspect in Cash App founder killing makes court appearance

Published Wed, 12 Feb 2025 14:49:35 GMT

SAN FRANCISCO (AP) — The 38-year-old tech consultant charged in the stabbing death of Cash App founder Bob Lee made his first appearance in a San Francisco courtroom Friday but did not enter a plea.Nima Momeni, a tech consultant who police say knew Lee, is now scheduled to be arraigned April 25.The judge ordered Momeni held in jail without bail, as requested by San Francisco District Attorney Brooke Jenkins.Momeni appeared in court in an orange sweatshirt and pants. He did not speak except to say “yes, your honor” when the judge asked if he agreed to decline his right to a speedy trial.He is represented by Burlingame attorney Paula Canny, who is on vacation and whose brother Robert Canny, also an attorney, appeared in her place Friday. “The facts of what occurred, or didn’t occur, will come out over time,” he told reporters after the hearing.In the courtroom were Momeni’s sister Khazar Elyassnia and her husband.On Thursday, San Francisco Police Chief Bill Scott announced Momeni̵...

Fort Lauderdale residents seek shelter at Holiday Park; mayor provides update after historic floods impact community

Published Wed, 12 Feb 2025 14:49:35 GMT

After historic flooding impacted people’s homes, residents arrived at Holiday Park Gymnasium to seek shelter. About 40 people and their pets took shelter at the gymnasium, at 1200 G. Harold Martin Drive, Friday. 7News spoke to the shelter’s manager and she said that they are working around the clock to provide people resources. Inside the shelter are families and people with disabilities. One blind man at the shelter was rescued from his home Wednesday night by Fort Lauderdale Rescue with a boat after his home was flooded with 3 feet of water.Several people at the shelter are frustrated with local officials due to a lack of communication and a lack of resources. On Friday afternoon, Fort Lauderdale mayor Dean Trantalis thanked the state delegation and Gov. Ron DeSantis for declaring a state of emergency because now they can tap into funds to help people. Trantalis also said that FEMA is on the ground to assist. Residents at Holiday Park said that they’ve had n...

Russian court fines Wikipedia owner for article related to Ukraine invasion

Published Wed, 12 Feb 2025 14:49:35 GMT

(CNN) — A Moscow court has fined the Wikimedia Foundation for refusing to remove an article on Russian-language Wikipedia called “The Russian occupation of the Zaporizhzhia region,” according to state media.The foundation — which owns Wikipedia, a site with pages in around 300 languages, including Russian — has been fined 2 million rubles ($24,500), Russian state-owned news agency TASS reported Thursday.The court documents allege that Wikimedia refused to remove “material” about the hostilities “within the framework of the special military operation” in Ukraine and about the country’s Zaporizhzhia region becoming part of Russia, TASS said.Leighanna Mixter, senior legal manager at Wikimedia, confirmed the fine to CNN and said that, over recent months, the foundation had received “a steady stream of takedown orders that target well-sourced content on Wikipedia and Wikimedia projects.”“The information at issue on Wikiped...

Justice Department charges leaders of Mexico’s Sinaloa cartel in sprawling fentanyl-trafficking probe

Published Wed, 12 Feb 2025 14:49:35 GMT

(CNN) — The Justice Department on Friday announced charges against more than two dozen defendants, including three sons of the notorious drug lord Joaquin “El Chapo” Guzman, in a sprawling fentanyl-trafficking investigation.Attorney General Merrick Garland announced the charges at a news conference in Washington, alongside Drug Enforcement Administration Administrator Anne Milgram and other top federal prosecutors.The indictments against the leaders of Mexico’s powerful Sinaloa cartel were unsealed, including against Guzman’s sons, who are known as the Chapitos, or little Chapos.The fentanyl trafficking, weapons and money laundering charges in three indictments involved a total of 28 defendants: 23 of whom are based in Mexico, four in China and one in Guatemala.Charges were filed against alleged chemical suppliers, lab managers, fentanyl traffickers, financiers and weapons traffickers. Among those charged are Chinese citizens accused of supplying precur...

Knicks vs. Cavs: A position-by-position breakdown of NBA first-round playoff series

Published Wed, 12 Feb 2025 14:49:35 GMT

It’s not the best way to look at a matchup in basketball these days. There’s so much switching and mismatch hunting in the NBA that head-to-heads are rarely sustained. But the Tale of the Tape, as documented below, provides a window into the talent level.And as we know, a playoff series can easily be won or lost on talent.So here are judgments on seven individual matchups concerning No. 4 Cavs vs. No. 5 Knicks, which tips off Saturday night in Cleveland. Plus, you’ll get a bonus prediction at the end.POINT GUARDJalen Brunson (24 ppg, 6.2 apg, 49% shooting, 41.6% on 3s) vs. Darius Garland (21.6 ppg, 7.8 apg, 46.2% shooting, 41% on 3s).Great offense from the position on both sides, although Brunson adds intangibles such as leadership, clutch reliability and an eagerness to take a charge. He is New York’s glue. Clearly, he was also Dallas’s glue. Garland was an All-Star last year and is capable of dropping 50-plus points, which he did near the beginning of...

Celtics’ Jaylen Brown discusses recovery from finger injury, excitement to face hometown Hawks

Published Wed, 12 Feb 2025 14:49:35 GMT

Jaylen Brown said he got the stitches out of his injured right finger on Thursday and will be ready to go on Saturday when the Celtics host the Hawks in Game 1 of the playoffs.“Feeling a lot better,” Brown said after Friday’s practice. “I’ll tell you that. Just working to get some reps in, be ready for (Saturday).”Brown missed the final two games of the regular season after suffering a right finger laceration last Thursday at home. He said he cut the finger when he was picking up a piece of glass in his house from a vase he knocked over and broke while watering plants in his home. It required five stitches.Brown returned to practice on Thursday and said Friday it’s been healing well.Brown said he’ll wear something to protect the finger.“I got like a bunch of different things I guess,” Brown said. “Try different methods that I’ve been trying over the last two days, but the one I tried today I think works the best, so I think I’m going to go with that. There’s like some protective stu...