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NEW YORK (AP) — U.S. stock indexes drifted lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show similar increases as the month before. Wednesday’s update and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January. Elsewhere on Wall Street, Alaska Air Group soared 13.2% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 4.5% after saying it’s resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. Indexes fell across much of Europe ahead of a meeting this week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.Tinubu arrives France, commences state visitWhat to know about suspect’s arrest
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LAS VEGAS — With a restructuring at Andretti Global that pushed Michael Andretti into a smaller role, the chances of his organization landing a Formula 1 team have substantially increased. So much so that F1 and Formula One Management could have a decision to grant the General Motors-backed entry a spot as the 11th team on the grid in the coming weeks. Dan Towriss, now the majority owner of the Andretti organization, was at the Las Vegas Grand Prix on Thursday scoping his chances of entering the top motorsports series in the world. So was the FBI, allegedly, as part of a Department of Justice investigation into why F1 denied the Andretti organization expansion into the series. F1 currently has 10 teams that field 20 cars and only one — the organization owned by California businessman Gene Haas — is an American team. Las Vegas marks the third race this season in the United States, more than any other country, as F1 has exploded in American popularity over the last five years. Even so, Andretti could not get approval from F1 to enter the series. But, the situation changed in September when Andretti scaled back his role with his namesake organization. Now with Towriss in charge, talks have amplified, even though it is not clear what the name of an Andretti-less F1 team would even be. Cadillac would do the engines — but says it won't be ready until 2028 — which means a 2026 Towriss-led F1 team would be GM branded but with a partner engine supplier. Most of the existing teams have been largely opposed to an 11th team entering F1, citing a dilution in prize money and the massive expenses they've already committed to the series. But, Andretti among others believed the teams' position was personal in that they simply didn't like Andretti, who ran 13 races in the 1993 season. His father, Mario, is the 1978 F1 world champion. The Andretti application had already been approved by the FIA, which is F1's ruling body, but later denied by F1 itself. F1 promised to revisit the issue once General Motors had an engine ready to compete. The existing 10 F1 teams have no actual vote or say in if the grid is expanded, which Mercedes boss Toto Wolff reiterated Thursday when The Associated Press asked why the sudden chance of acceptance in a potential 11th team. "We have an obligation, a statutory obligation as directors, to present the standpoint that is the best for our company and for our employees, and we've done that," Wolff said. "I think if a team can add to the championship, particularly if GM decides to come in as a team owner, that is a different story. "And as long as it is creative, that means we're growing the popularity of the sport, we're growing the revenue of the sport, then no team will be ever against it. So I'm putting my hope in there." Wolff has been eager to hear from Towriss directly on what the plans for the organization are now that Andretti has a smaller role. "No one from Andretti or Andretti Global or whatever the name will be has ever spoken to me a single sentence in presentation of what the creative part is," he said. "But they don't need to because the teams don't decide. It is the commercial rights holder, with the FIA, we have no say. If I want to be invited to a party and go to the party, I'm sitting down at the table and telling who I am and why I'm really good fun and sitting here and everybody will enjoy my presence. "That hasn't happened, but you know, that's now my personal point of view, not a professional, because there's nothing we can do, nothing we can say," Wolff continued. "And I don't know the people. I've obviously spoken to Mario. I didn't speak to his son. I didn't speak to any other people that are behind that. I don't know who they are. So I know GM, GM is great." Fred Vasseur, team principal at Ferrari, said he's not opposed to another team if it adds value to F1. "The discussion is between FIA, the team, and FOM. It's not our choice," he said. "For sure, as Toto said, that if it's good for the sport, good for the show, good for the business, and adds value on the sporting side, that we are all OK." Get local news delivered to your inbox!Limited again, 49ers QB Brock Purdy still fighting sore shoulder
Louisville scores 52 second-half points to race past No. 14 Indiana 89-61 in the Battle 4 AtlantisSANTA CLARA — The early portion of Wednesday’s practice produced no encouraging signs for . Brandon Allen, Joshua Dobbs and practice-squad quarterback Tanner Mordecai took turns making throws during the warmup periods of 49ers practice, while Purdy was limited largely to a couple of handoffs. in the 49ers’ Week 11 loss to the Seattle Seahawks and does not appear to be making noticeable improvements even after sitting out the team’s game Sunday against the Green Bay Packers. Purdy threw a little bit on Monday, 49ers coach Kyle Shanahan said. But it does not appear as if the quarterback's physical condition is allowing him to ramp up his throwing regimen. at the beginning of practice, would start on Sunday night against the Buffalo Bills if Purdy is unable to play, Shanahan said this week. Allen started and played every snap in the 49ers’ 38-10 loss to the Packers. He completed 17 of 29 pass attempts for 199 yards and one touchdown with one interception. Purdy stood to the back on Wednesday as the 49ers’ quarterbacks went through some footwork drills with short passes. He threw one short toss before the quarterbacks worked on some handoff drills. Purdy underwent an MRI examination last Monday that did not reveal any structural damage, Shanahan said. He had another MRI later in the week after his shoulder condition did not improve. “We always get more than one when you get one and it seems all right, then you have some pain later in the week,” Shanahan said. “So you get another one to make sure you didn't miss anything. And so, that's what he did after the Thursday practice.” The 49ers will have practices Thursday and Friday before departing for Buffalo. The before leaving for Green Bay last week.
NASSAU, Bahamas (AP) — Chucky Hepburn had 16 points, 10 assists and seven steals, Noah Waterman also had 16 points and Louisville beat No. 14 Indiana 89-61 on Wednesday in the opening game of the Battle 4 Atlantis. Louisville (4-1) beat a ranked team for the first time since topping Virginia Tech 73-71 on Jan. 6, 2021. Kasean Pryor scored 10 of his 14 points in the second half and Reyne Smith added 12 points for Louisville. Malik Reneau scored 21 points and Oumar Ballo added 11 for Indiana (4-1). Reneau reached 20-plus points for the eighth time in his career. The Cardinals led 37-29 at the break after making 7 of 17 from 3-point range and shooting 57% overall. Indiana missed six straight shots on two occasions in the first half, sandwiched around a string of seven missed field goals, as the Cardinals shot 9 of 29 (31%). Louisville exploded for 52 second-half points by shooting 66.7% from the field. Pryor missed only one of his six shots in the second half. Louisville quickly built a commanding lead in the second half after starting on an 11-2 run, highlighted by Pryor's fast-break dunk . The lead reached 30 on freshman Khani Rooths' alley-oop dunk that came during the Cardinals’ 16-0 run for a 78-40 lead. Louisville entered the week ranked sixth in the country in 3-point attempts per game at 34. The Cardinals attempted 27 against Indiana and made 10 of them — with four apiece from Waterman and Smith. Louisville also came into the game averaging 19 forced turnovers per game. The Cardinals scored 30 points off 23 Indiana turnovers. Louisville, which played its first road game of the season, faces West Virginia on Thursday. Indiana plays No. 3 Gonzaga in the consolation bracket. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college basketball: https://apnews.com/hub/ap-top-25-college-basketball-poll and https://apnews.com/hub/college-basketball
Planned Parenthood is reporting a post-election surge of interest in Minnesota and neighboring states among women seeking long-acting birth control and men seeking vasectomies. Concerns about potential threats to access under President-elect Donald Trump’s administration has prompted some young adults to take action before he takes office in January, said Ruth Richardson, chief executive of Planned Parenthood North Central States. The St. Paul-based provider of reproductive health services has filled all appointments through January for men seeking a vasectomy. “People want to ensure they can get access to these things while they know that they can,” Richardson said. The response is based on uncertainty as much as facts. Trump was noncommittal during his campaign on reproductive health topics, hinting that he might let states continue to set their own abortion policies rather than pursue a federal ban or limit. He suggested at one point that he might pursue a federal policy limiting access to birth control, before pledging later on the same day on social media to “never advocate imposing restrictions on birth control.” Calls to Planned Parenthood for appointments regarding long-acting birth control such as intrauterine devices (IUDs) nonetheless jumped 150% in Minnesota and the rest of the region after the Nov. 5 election. Google similarly reported a surge Nov. 6 in online searches for “birth control” and “is birth control going to be banned,” particularly in historically conservative states such as Indiana, Mississippi and West Virginia. Richardson wasn’t surprised. Calls to Planned Parenthood for long-acting birth control reached peak levels in early 2017 after Trump began his first term as president. They gradually declined during the pandemic until a new surge in July 2022, when the Supreme Court overturned the Roe v. Wade decision that had preserved abortion access nationwide. Reactions to the election results also weren’t surprising given the high amount of stress among voters. Seven in 10 Americans cited the election in one recent survey as a significant source of stress in their lives. “The landscape that we have right now is ever-shifting in terms of what people have access to” for birth control, said Richardson, noting that changes are just as likely to come from court rulings as they are from Congress or the president. No candidate discussed limiting access to vasectomies. About one in 10 U.S. men seek these common sterility procedures, most of them younger men who don’t want to be a parent or married middle-age men who don’t want more children. Michigan researchers documented a surge in vasectomy consults and procedures after the overturn of Roe v. Wade in 2022, more so among men who were single or had no children. Planned Parenthood isn’t alone in seeing patients taking action when they think political changes could threaten access. Allina Health midwife Kathrine Simon said her clinic in the past has received more requests from women for new or extended forms of long-acting birth control after significant court rulings or changes in federal or state leadership. Allina did not provide information for this report on appointments or requests after the most recent election. Get local news delivered to your inbox!