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Stock market today: As earnings season kicks off, global markets retreat on weak China growth

Published Fri, 07 Feb 2025 10:54:24 GMT

BANGKOK — With earnings season ready to kick into high gear this week, Wall Street ticked lower early Monday after China reported weaker growth than forecast in the last quarter. Future for the S&P 500 inched down 0.2%, while the Dow Jones Industrial Average fell 0.3%. Wall Street’s expectations are low yet again heading into earnings season. Analysts are forecasting the worst drop in earnings per share for S&P 500 companies since the spring of 2020. That would mark a third straight quarter where profits sank.Such expectations are key for financial markets, because one of the biggest factors behind a stock’s price is how much profit the company earns. Wall Street nevertheless rallied hard this week thanks to rising optimism about the other major lever that sets stock prices: how much investors are willing to pay for each $1 of corporate profits.Coming up this week are results from Bank of America, Netflix, Tesla and airlines United and American. A retail sales report from th...

Freight train derails in southeast Pennsylvania, but no known injuries or hazards

Published Fri, 07 Feb 2025 10:54:24 GMT

WHITEMARSH TOWNSHIP, Pa. (AP) — A freight train derailment in southeast Pennsylvania early Monday spurred precautionary evacuations, but officials said no injuries were reported and there was no known hazard to the public.The 40-car CSX train, which was operating on tracks owned by Norfolk Southern, derailed around 4:50 a.m. in Whitemarsh Township. More than a dozen cars appeared to be off the tracks.Silicone pellets were leaking from at least one train car, Whitemarsh police said, but they posed no risk to the public. It wasn’t immediately known what was inside the other derailed cars, and hazmat teams were at the site.The cause of the derailment was under investigation.Norfolk Southern — and the entire rail industry — has been under intense scrutiny since one of its trains derailed and caught fire in February in Ohio, creating towering black smoke, forcing evacuations and raising environmental worries.The Associated Press

Northeast starts to dry out after flash flooding claims at least 5 lives in Pennsylvania

Published Fri, 07 Feb 2025 10:54:24 GMT

WASHINGTON CROSSING, Pa. (AP) — An already saturated Northeast began drying out Monday after a second round of heavy rain in a week, including a flash flood in Pennsylvania that claimed at least five lives over the weekend. A 9-month-old boy and his 2-year-old sister remained missing in Upper Makefield Township in Bucks County, Pennsylvania, which is along the Delaware River, after they were swept away late Saturday afternoon while traveling in a vehicle. Fire Chief Tim Brewer said the area got about 6 1/2 to 7 inches of rain (about 18 centimeters) in 45 minutes.The children are part of a Charleston, South Carolina, family visiting family and friends. They were on their way to a barbecue when their vehicle got stuck in the flash flood, Brewer said.“As they tried to escape the fierce floodwaters, Dad took his 4-year-old son while the mother and the grandmother grabbed the two additional children,” he said. The father and son were “miraculously” able to get to safety. “However the gra...

Key Russian bridge to Crimea is attacked again, with Moscow blaming Ukraine for blast that kills 2

Published Fri, 07 Feb 2025 10:54:24 GMT

TALLINN, Estonia — An attack before dawn Monday damaged part of a bridge linking Russia to Moscow-annexed Crimea that is a key supply route for Kremlin forces in the war with Ukraine, forcing the span’s temporary closure for a second time in less than a year. Two people were killed and their daughter was injured. Vehicle traffic on the Kerch Bridge came to a standstill, while rail traffic across the 19-kilometer (12-mile) span also was halted for about six hours.The strike was carried out by two Ukrainian maritime drones, Russia’s National Anti-Terrorist Committee said.Ukrainian officials were coy about taking responsibility, as they have been in past strikes. But in what appeared to be a tacit acknowledgment, Ukrainian Security Service spokesman Artem Degtyarenko said in a statement that his agency would reveal details of how the “bang” was organized after Kyiv has won the war.The bridge previously was attacked in October, when a truck bomb blew up two of its sections and required ...

The bridge that links Russia to Crimea is key to supplying the Ukraine war and for asserting control

Published Fri, 07 Feb 2025 10:54:24 GMT

The bridge connecting Russia-annexed Crimea and Russia carries heavy significance for Moscow both logistically and psychologically, as a key artery for Russian military and civilian supplies bound for Crimea and as an assertion of Russia’s control of the peninsula.An explosion that hit the bridge before dawn on Monday, killing a couple and seriously injuring their daughter, left a span of the roadway hanging perilously. The damage initially appeared to be less severe than that caused by a blast in October, but highlighted the bridge’s vulnerability. Russia blamed Ukraine for both Monday’s blast and the October explosion. A spokesman for the Ukrainian Security Service on Monday did not directly acknowledge responsibility but said the service would reveal details about organizing the blast once Ukraine achieves victory in the war.A CRITICAL CONNECTIONThe Crimean peninsula extends south from Ukraine’s mainland, with road connections on two isthmuses, one of which is less that two kilom...

Child star Mia Armstrong is working on a picture book about her experiences with Down syndrome

Published Fri, 07 Feb 2025 10:54:24 GMT

NEW YORK (AP) — Child star and activist Mia Armstrong has a picture book coming out next year about her experiences with Down syndrome, what her publisher calls “all the joys and challenges.”Random House Children’s Books announced Monday that Armstrong’s “I Am a Masterpiece!” will be released next January. Illustrated by Alexandra Thompson and co-written by Armstrong and author Marissa Moss, the book is Armstrong’s way of helping kids see the world as she sees it.Armstrong has spoken often about Down syndrome, and has called it her “superpower.” “I wrote this story because I want to inspire other people to love their own stories and be proud of who they are,” the 12-year-old Armstrong said in a statement. “Down syndrome does not define me and is just one small part of who I am. I’m also an actress, a model, a voiceover artist, a rock climber, a thrill seeker, a daughter, a sister, and a friend. My dream is for ‘I Am a Masterpiece!” to help kids everywhere re...

2 teens injured after shooting in South Chicago

Published Fri, 07 Feb 2025 10:54:24 GMT

CHICAGO -- Two 17-year-old boys are injured after a shooting in South Chicago Monday morning.According to police, the boys were near the 8100 South South Shore Drive around 4:58 a.m. when individuals approached the boys on foot and opened fire. Police said one boy sustained a gunshot wound to the head and was transported to University of Chicago Medical Center in critical condition. The other boy sustained a gunshot wound to the ankle and was transported to Trinity Hospital in fair condition. Child thrown from carnival ride in Antioch, airlifted to hospital There were no other injuries reported and the individuals fled in an unknown direction. There is currently no one in custody and police are investigating the incident.

Your property tax relief questions answered: How much, when you could benefit

Published Fri, 07 Feb 2025 10:54:24 GMT

AUSTIN (KXAN) — The Texas House passed Senate Bill 2 Thursday evening, advancing the property tax relief bill to Gov. Greg Abbott for his approval. $18 billion deal reached: Texans to get biggest property tax cut in state’s history KXAN received several questions about the bill from viewers on social media and by email, and tracked down answers to some of your frequently asked questions. What is in Texas' property tax proposal?The bill provides for $12.7 billion in tax relief for property owners through four main avenues:Reducing school district property tax rates by subsidizing public education with an additional $12 billion;Raising the homestead exemption from $40,000 to $100,000;Limiting appraisal value increases to 20% per year for non-homesteaded properties under $5 million, as part of a 3-year pilot program; and,Exempting businesses with annual revenue of less than $2.47 million from the franchise tax, up from a $1.23 million exemption threshold.In addition, it requires coun...

Runway closed at Taylor airport after plane lands with gear up

Published Fri, 07 Feb 2025 10:54:24 GMT

TAYLOR, Texas (KXAN) – The City of Taylor said Sunday the runaway at the Taylor Municipal Airport was closed until further notice after a single-engine airplane landed with the gear up on the runway. According to a city release, officials said the plane landed at 5 p.m. The city said no one was hurt. The plane was reported disabled on the runway, and the Taylor Fire Department was on the scene, according to the city announcement. The city said it was working with the Federal Aviation Administration to determine next steps.

Campaign Context: Sen. Cruz's claims about Biden inflation don't hold up

Published Fri, 07 Feb 2025 10:54:24 GMT

As campaign season nears, politicians are turning up the volume on campaign rhetoric. To cut through the noise, we’re launching Campaign Context, a weekly series providing clarity on the messages you’re hearing from candidates on the campaign trail. We’re digging past the politics and into the facts to provide you with the transparent, spin-free information you need to make informed decisions this election season.AUSTIN (KXAN) — On his recent podcast, Republican Sen. Ted Cruz went after President Joe Biden when it comes to inflation and the economy.The U.S. senator, seeking reelection in 2024, said "'Bidenomics' is worse than 'Jimmy Carternomics,'" referring to the high inflation seen during President Jimmy Carter's administration from 1977 to 1981.So has inflation been worse during the Biden administration? We pulled up the numbers from the Bureau of Labor Statistics' consumer price index, the go-to indicator of inflation, and Cruz's statement doesn't hold up to the data.When Biden...