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The South Nanjing office, strategically located in the heart of the city's central business district, will serve as a key base for Amazon Global Store operations in the region. With a focus on expanding cross-border e-commerce and improving supply chain logistics, the office is expected to play a crucial role in enhancing Amazon's presence in Nanjing and neighboring provinces.
Moreover, the club's strategic vision and long-term planning have been called into question by critics who believe that Manchester United is failing to adapt to the modern football landscape. The lack of a clear footballing philosophy and identity has resulted in a disjointed and inconsistent performance on the pitch. This has led to a decline in the team's competitiveness in both domestic and international competitions.
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U.S. ahead in AI innovation, easily surpassing China in Stanford's new rankingThe marketing strategy behind this collaboration is also worth considering. By partnering with a well-known cola brand and choosing to release the product on a popular e-commerce platform like JD.com, the creators of "Black Myth" are able to reach a wide audience of consumers and fans. The limited availability of only 12 bottles adds a sense of urgency and exclusivity, driving up interest and demand for the product.
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India’s fourteenth Prime Minister Dr Manmohan Singh passed away on Thursday at the age of 92. He was admitted to the AIIMS Delhi’s emergency unit after his health deteriorated. Singh, born on September 26, 1932, in Gah, Punjab (now in Pakistan), was one of the most prominent economic experts and political figures of the country. Before becoming the prime minister in 2004, Singh worked as an economic advisor, deputy chairman of the erstwhile planning commission, deputy governor in the Reserve Bank of India, chief economic adviser to the Government of India and more. Most notable of his work was his tenure as the Finance Minister under Prime Minister P.V. Narasimha Rao’s government in 1991 and was most famous for the liberalization privatization and globalization (LPG) reforms in 1991. Below is a detailed timeline of his life and career from his birth to his death: Birth And Early Life On September 26, 1932, Dr. Manmohan Singh was born in Gah, a village in present-day Pakistan, to a Sikh family. After the partition of India in 1947, Singh and his family migrated to India, settling in Amritsar, Punjab. He completed his schooling in Amritsar and later moved to Delhi for higher education. In 1952, he pursued a Bachelor's degree in Economics from Panjab University in Chandigarh later completed his Master's degree in Economics from the prestigious University of Cambridge in the UK from 1954 to 1957. Post that, he earned a Doctor of Philosophy in Economics from the University of Oxford. Career From 1957 to 1965, Singh worked as a lecturer in Economics at Panjab University, Chandigarh. From 1969 to 1971, Singh worked as the professor of International Trade at Delhi School of Economics, Delhi University. From 1971 to 1972, he was the economic adviser with the Ministry of Foreign Trade. With his master over the craft, in 1976 he was appointed as the Chief Economic Adviser to the Government of India, contributing to the economic policy-making process. In 1982, Singh returned to RBI as a Deputy Governor Three years later, he was appointed as the Secretary in the Ministry of Finance and in 1987 he became the Secretary of the Department of Economic Affairs in the Ministry of Finance. As The Finance Minister The 1990s were a pivotal time for the Indian economy and Singh was the finance minister under Prime Minister P.V. Narasimha Rao’s government. He was the architect of India's landmark economic reforms, which turned the economic landscape of India. One of the most notable contributions of Dr Singh was the the liberalization privatization and globalization or the LPG policy which opened the economic doors of India to the foreign world. Under his leadership as the FM, India witnessed substantial economic growth, moving from a closed, highly regulated economy to a market-driven one. He also worked to control India's fiscal deficit and stabilised the economy by adopting sound macroeconomic policies. As The PM Singh became the 14th Prime Minister of India after the Congress Party’s victory in the general elections. His tenure marks a shift towards further liberalization and modernization of the Indian economy. During his tenure, India experienced robust economic growth, averaging 8–9 per cent GDP growth per year. In 2005, Singh was instrumental in the landmark civil nuclear deal with the United States, which allowed India to access nuclear technology despite not being a signatory to the Non-Proliferation Treaty (NPT). Singh’s government emphasised rural development, social security programs, and the implementation of the National Rural Employment Guarantee Act (NREGA), which guarantees employment for rural workers. In 2009, he was re-elected as Prime Minister after the Congress Party won the general elections again. His second term continues the focused on inclusive economic growth and managing the global financial crisis of 2008. While remaining a Member of Parliament (MP) from 2014 to 2019, he largely stayed out of the public spotlight, occasionally commenting on key national issues such as economic reforms, the state of the Indian economy, and global affairs. Throughout his career, Dr Singh earned numerous accolades, including India’s second-highest civilian honor, the Padma Vibhushan (1987), the Asia Money Award for Finance Minister of the Year (1993, 1994), and the Euro Money Award for Finance Minister of the Year (1993). He was also the recipient of honorary degrees from several prestigious universities, including Cambridge and Oxford.Lions rush for 3 scores and use stingy defense to beat Colts 24-6 for 9th straight win
Xiao Huawei's Final Hairstyle for Xiang Zuo Revealed, Live Stream Attracts 67 Million ViewersBills rookie Cole Bishop beginning to get comfortable after consecutive startsSEVERAL increases in wealth tax rates proposed by the Department of Finance (DOF) are seen to raise P300 billion in revenues over the next five years. Finance Secretary Ralph G. Recto told reporters that the proposed “Government Revenues Optimization through Wealth Tax Harmonization” (Growth) bill, formerly the “Passive Income and Financial Intermediary Taxation Act” (Pifita), will generate about P300 billion from 2025 up to 2030. “We are raising new revenues. We’ve tweaked already the revenue measures,” Recto said, adding that the Pifita and the Capital Market Efficiency Promotion Act (CMEPA) spell revenue losses. As such, the DOF has harmonized the current 6-percent tax rates for capital gains, donor’s and estate taxes to a unified 10 percent. Capital gains tax is a tax applied to the profit earned from the sale of real property and stocks acquired in the Philippines. A donor’s tax is a levy on the donor transferring property to a person or institution as a gift, while an estate tax is imposed on inherited assets. The revised tax measures include a sunset provision until 2030, after which the rates will return to 6 percent unless extended by Congress, according to Recto. Moreover, interest on residents’ deposits under the foreign currency deposit system accounts will be taxed at 20 percent, up from 15 percent, to remove arbitrage opportunities. “Why should I favor the dollar over the peso? Why should the dollar have lower interest rates than the peso? Let’s equalize it to 20 percent with no exemptions,” Recto said. The DOF will also remove the exemptions in the gross receipts and withholding taxes but will keep the rates at 5 percent and 20 percent, respectively. “We do have a deficit and we still want to plug it so that we don’t have to borrow more,” the Finance chief said. Recto added that the public will not be affected by the proposed tax reforms since these are financial taxes, not consumption-based taxes. The proposed “Growth” bill is part of Package 4 of the Comprehensive Tax Reform Package (CTRP). That package aims to harmonize the taxation of passive income and financial intermediaries by reducing and simplifying the complex tax system of financial transactions. The House of Representatives approved Pifita and CMEPA on final reading, while the Senate’s versions of the legislations are still in committee stages.
Happy holidays from Bad Bunny , who announced Thursday he will release a new album Jan. 5. “Debí Tirar Más Fotos,” which translates to “I should have taken more photos,” is his sixth studio album and follows in his tradition of releasing new music on unexpected dates. His debut album, 2018’s “X 100PRE," arrived around Christmas and 2020's “El Último Tour del Mundo” near Thanksgiving. The January release date is just before “Día de Reyes,” or Three Kings Day, and is a Sunday — unlike the industry's standard Friday release date. The Puerto Rican musician announced the news on Instagram in a short video featuring filmmaker Jacobo Morales. He also released a new single, “PIToRRO DE COCO.” A day before, Bad Bunny teased a 17-track list on social media, with each song titled “BOMBA,” perhaps in reference to the Puerto Rican musical style and dance. “Debí Tirar Más Fotos” follows 2023's “Nadie Sabe Lo Que Va a Pasar Mañana” (“Nobody Knows What Will Happen Tomorrow”), which was met with mixed reviews. On that album, Bad Bunny's reggaeton offerings were limited, returning instead to the Latin trap of “X 100PRE” in songs like “MONACO” and “GRACIAS POR NADA.” The announcement caps a busy year for El Conejo Malo. Bad Bunny made headlines after he threw his support behind Vice President Kamala Harris shortly after a comedian at Donald Trump’s Madison Square Garden rally made crude jokes about Latinos and called Puerto Rico a “floating island of garbage.” He also canvassed North America on his “Most Wanted Tour,” which made The Associated Press' list of the best concerts of the year.By Justine Irish D. Tabile, Reporter AUTOMOTIVE SALES may hit 500,000 units next year as lower interest rates and upcoming elections spur economic activity, according to the Federation of Automotive In dustries of the Philippines, Inc. “We can hit that (target) in 2025, and the growth factors will be the election, interest rates that are starting to go down, plus the economy is again most likely to grow by another 5-6%,” Vicente T. Mills, the federation’s president, told reporters last week. “But the demand for vehicles is still there because the fleet is still old, so there’s fleet replacement, and then, of course, fleet growth because gross domestic product will go up,” he added. The Bangko Sentral ng Pilipinas (BSP) started its easing cycle last August, cutting rates by 50 basis points to 6%. More cuts are expected in 2025 as inflation is expected to stay within the 2-4% target range. Economic managers are targeting 6.5-7.5% gross domestic product growth for 2025, and 6.5-8% from 2026 to 2028. Mr. Mills said that compared with Thailand and Indonesia, the local vehicle density is still lower per population, which explains the still huge local demand. “So, it will really go up; it is just that our countrymen do not have enough buying power... but now that the central bank is bringing down the interest rates, it will be more affordable,” he said. “And as business improves, they will start to buy. And naturally, as the economy improves, vehicle population improves because that’s how it is. It goes together,” he added. Mr. Mills said sales growth next year will also be driven by commercial vehicles, which comprised 73.77% of the total industry sales as of October. A joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association showed that total industry sales reached 384,310 in the first 10 months, up 8.9% from 352,971 in the same period last year. Broken down, sales of commercial vehicles reached 283,501 units as of October, up 7.8% from the 262,875 units sold in the same period last year, while the industry sold 100,809 units of passenger cars, which represented an 11.9% increase from 90,096 last year. Regina Capital Development Corp. Head of Sales Luis A. Limlingan said the auto industry could reach its sales target if the BSP continues to cut policy rates. “Lower inflation and interest rates could help reach the target... as this would effectively lower the cost for borrowing across the board,” said Mr. Limlingan in a Viber message. Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc. said that the launch of new models could drive sales growth. “Fresh and diverse vehicle offerings, including EVs (electric vehicles), hybrids, and fuel-efficient models, could attract a broader customer base and stimulate demand,” Mr. Arce said in a Viber message. “Favorable government policies or tax incentives for EVs and other eco-friendly vehicles may catalyze market growth, especially as environmental sustainability becomes a focus,” he added. Despite the positive outlook for the automotive sector, Mr. Mills said road tra ff ic remains an issue. “That is another problem. Infrastructure and mass transit must improve. But still, in all countries, vehicles for individuals and for commercial vehicles are still going up,” he said. According to Mr. Arce, the improvement of road networks will help to increase the demand for new vehicles. “Ongoing infrastructure projects improving road networks could encourage consumers to invest in private vehicles for convenience,” said Mr. Arce. “As urban areas expand, the need for personal transportation could rise, bolstering sales in the automotive sector,” he added.New Delhi: Sales of passenger vehicles are expected to grow by 5% in calendar year 2025 against a high base, indicating healthy consumer demand on the back of a pick-up in government spending, good monsoon rain and strong consumer sentiment in rural markets due to robust crop yields, several senior industry executives ET spoke to said. While sales of SUVs will remain strong, carmakers expect demand for entry-level small cars to rise as indicated by a spurt in two-wheeler sales in recent months. After six months of slow growth in this fiscal year, car sales grew by about 1% in October and 4% in November. Passenger vehicle sales grew by 3% in the first quarter. In fact, India is one of the few markets globally where auto sales have rebounded sharply post the pandemic. That pushed car sales over the 4-million mark for the first time in 2023, and then again in 2024. With general elections having got over, automakers expect an uptick in government spending and the better-than-expected monsoon to boost sales in the coming year. 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Government investments will be back. IT layoffs are behind us," said Hardeep Singh Brar, senior vice-president and head, sales and marketing, Kia India. "There are early signals of revival in the sector with leading companies announcing fresh hiring plans recently. Good monsoons too will play a big role in boosting growth in the year ahead." Economic activity is expected to rise in the coming year led by rural consumption and the anticipated increase in government spending, HDFC Securities said in its latest report on Sunday. "India will largely be an outlier in the GDP growth compared to its global counterparts," said Dhiraj Relli, CEO, HDFC Securities. "We anticipate the growth for FY26 to be volume-led, with BFSI, industrials, cement, energy and IT sectors being the engine drivers." The Indian economy is expected to expand by 6.7% in FY26. "Car sales in the upcoming year will depend on pure-play economy as the market in terms of demand and supply is normal," said an industry veteran "While the percentage growth is likely to be small, it is important to factor in the fact that this growth is coming on a very high base of about 4.3 million units. One factor (for healthy growth ahead) seems to be an expectation that the slide in small car sales may have seen bottoming out judging by two-wheeler sales." Sales of motorcycles, scooters and mopeds rose by as much as 16.2% to 18.44 million units between January and November CY2024, according to Society of Indian Automobile Manufacturers (SIAM) data. In December, dispatches of cars from factories to dealerships are estimated to have gone up by 10-12% to 315,000-322,000 units with manufacturers replenishing stocks at dealerships after robust sales in the festive season. Nominations for ET MSME Awards are now open. The last day to apply is December 15, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )
Happy holidays from Bad Bunny , who announced Thursday he will release a new album Jan. 5. “Debí Tirar Más Fotos,” which translates to “I should have taken more photos,” is his sixth studio album and follows in his tradition of releasing new music on unexpected dates. His debut album, 2018’s “X 100PRE," arrived around Christmas and 2020's “El Último Tour del Mundo” near Thanksgiving. The January release date is just before “Día de Reyes,” or Three Kings Day, and is a Sunday — unlike the industry's standard Friday release date. The Puerto Rican musician announced the news on Instagram in a short video featuring filmmaker Jacobo Morales. He also released a new single, “PIToRRO DE COCO.” A day before, Bad Bunny teased a 17-track list on social media, with each song titled “BOMBA,” perhaps in reference to the Puerto Rican musical style and dance. “Debí Tirar Más Fotos” follows 2023's “Nadie Sabe Lo Que Va a Pasar Mañana” (“Nobody Knows What Will Happen Tomorrow”), which was met with mixed reviews. On that album, Bad Bunny's reggaeton offerings were limited, returning instead to the Latin trap of “X 100PRE” in songs like “MONACO” and “GRACIAS POR NADA.” The announcement caps a busy year for El Conejo Malo. Bad Bunny made headlines after he threw his support behind Vice President Kamala Harris shortly after a comedian at Donald Trump’s Madison Square Garden rally made crude jokes about Latinos and called Puerto Rico a “floating island of garbage.” He also canvassed North America on his “Most Wanted Tour,” which made The Associated Press' list of the best concerts of the year.
The journey of Liverpool in the Champions League this season has been nothing short of spectacular. Starting with a sensational victory over AC Milan in their opening match, Liverpool has maintained their winning streak and displayed exceptional teamwork, skill, and determination on the field. The attacking trio of Mohamed Salah, Sadio Mane, and Diogo Jota has been in scintillating form, terrorizing opposition defenses and scoring goals for fun.Title: The Rollercoaster of Emotions: A Baby's Journey Through Four Emotional States in Just a Few Seconds of Getting Vaccinated
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In the opening matches of the tournament, the Chinese players demonstrated their prowess and composure under pressure. Liang Wenbo, Ding Junhui, Yan Bingtao, and Zhao Xintong put on impressive performances, securing victories against their opponents with skillful potting and tactical play. Their resilience and determination were evident as they fought hard to earn their spots in the Top 16 stage.Turkey lowers interest rate for first time in 2 yearsUnder the "Peace of Mind Service" plan, Gaode Map will be focusing on integrating and promoting various local life services on its platform, providing users with convenient access to a wide array of services that cater to their daily needs. This initiative is part of Gaode Map's larger goal to become a one-stop destination for users looking to navigate and engage with their local communities.
However, investors should remain cautious and vigilant, as market conditions can change rapidly. It is important to conduct thorough research and due diligence before making investment decisions, and to diversify portfolios to manage risks effectively.In the world of education, there are teachers who go above and beyond to inspire their students and make learning come alive. One such teacher, Mr. Johnson, transformed his classroom into a visual wonderland by hand-drawing over a thousand intricately detailed engineering diagrams and illustrations, turning his lessons into masterpieces that captivated generations of students.The surge in Chinese assets can be attributed to a combination of factors, including a robust economic recovery, increased government stimulus measures, and a renewed sense of optimism among investors. China's impressive bounce back from the challenges presented by the global pandemic has bolstered confidence in the country's economic prospects, leading to a surge in asset prices across different sectors.
NoneThe case of the primary school principal serves as a stark reminder of the dangers of complacency and moral laxity in the face of corruption. It underscores the urgent need for a cultural shift towards ethical governance and responsible leadership, where public officials are held to the highest standards of integrity and are accountable for their actions. Only through a concerted effort to promote transparency, accountability, and ethical behavior can the scourge of corruption be defeated and the trust of the people restored.Arizona (7-8) at Los Angeles Rams (9-6) Saturday, 8:15 p.m. EST, NFL Network BetMGM NFL odds : Rams by 6 1/2. Against the spread: Cardinals 9-6; Rams 8-7. Series record: Rams lead 50-41-2. Last meeting: Cardinals beat Rams 41-10 in Glendale, Ariz. on Sept. 15. Last week: Cardinals lost to Carolina 36-30, OT; Rams beat New York Jets 19-9. Cardinals offense: overall (11), rush (5), pass (20), scoring (14). Cardinals defense: overall (20), rush (22), pass (13), scoring (T-13). Rams offense: overall (15), rush (20), pass (13), scoring (17). Rams defense: overall (24), rush (25), pass (19), scoring (21). Turnover differential: Cardinals minus-4; Rams plus-5. WR Marvin Harrison Jr. has had a relatively productive rookie season with 51 catches for 726 yards and seven touchdowns. But it’s also true that he hasn’t always looked like the true franchise changing force the Cardinals expected when they took him with the No. 4 overall pick. Arizona might be out of the playoff race, but Harrison’s development continues to be a major focus for the team down the stretch. RB Kyren Williams is coming off his best game of the season after rushing for 122 yards and a touchdown on 23 carries to help Los Angeles grind out a win at the Meadowlands. He hardly factored into the first meeting against Arizona, a game the Rams trailed 14-0 halfway into the first quarter and 24-3 at halftime, getting 12 carries and running for 25 yards and a touchdown behind a battered offensive line. Cardinals QB Kyler Murray vs. Rams defensive line. Los Angeles had no answers for Murray in September as he threw for 266 yards and three touchdowns without an interception and added 59 yards rushing. But their defensive front is much more cohesive than it was in the second week of the season, with rookies Jared Verse and Braden Fiske proving to be menaces in the backfield. If Murray feels that pressure and can’t keep his eyes downfield, the Rams will be in much better shape to limit Arizona’s passing game. The Cardinals have been beat up over the past two games. Both of the starting tackles — Paris Johnson Jr. (knee) and Jonah Williams (knee) — are out for the season after they were put on injured reserve this week. Others such as RB James Conner (knee), LB Baron Browning (neck), LB Mack Wilson Sr. (concussion) and DL Darius Robinson (calf) have been limited during practice. ... The Rams are in good shape, a far cry from where they were to start the season. RT Rob Havenstein was the only name on their injury report through Wednesday, when he was limited because of a shoulder injury. Arizona has not swept the season series since 2014 when the Rams were playing in St. Louis. ... The Rams and Cardinals have split the past four meetings. Arizona had dropped 11 of the previous 12 in the series. ... Los Angeles is 3-2 against Arizona since moving into SoFi Stadium in 2020, kickstarting its run to the Super Bowl after the 2021 season with a 34-11 win in an NFC wild-card game. The Cardinals have lost four of their past five games and were eliminated from the playoff race after last week’s 36-30 loss to the Carolina Panthers. The Cardinals have made the playoffs just once over the past nine seasons. That was in 2021 ... Harrison had four catches for 130 yards and two TDs vs. the Rams in Week 2. All of that production came in the span of seven plays in the first quarter. ... The Cardinals are No. 5 in the NFL with 145.8 yards rushing per game. They also rank No. 2 with 5.28 yards per carry. ... Chad Ryland has made 25 field goals since his debut in Week 5, which ranks fourth in the NFL over that span. ... Safety Budda Baker has a career-high 148 tackles this season, which broke his previous high of 147 set in 2019. ... James Conner has 1,500 yards from scrimmage this season, including 1,090 rushing and 410 receiving. ... Trey McBride has caught 91 passes this season, which is a franchise record at tight end for the Cardinals. ... The Rams can clinch a playoff spot with a win and either a Seahawks loss or tie or a series of results elsewhere to secure the strength of victory tiebreaker. ... Rams QB Matthew Stafford threw for 110 yards against the Jets. Los Angeles has won all four games this season where Stafford has finished with fewer than 200 yards through the air. ... WR Puka Nacua had a record-setting rookie season, but Arizona was the one team that kept him in check. Nacua made four catches in each of the two meetings in 2023, finishing with 26 and 27 yards. ... The Rams didn’t have LT Alaric Jackson (suspension), LG Steve Avila (knee) or Nacua (knee) in the Week 2 game against the Cardinals. ... Los Angeles has run for at least 132 yards in four straight games, with Williams accounting for at least 87 yards in each outing that span. Cooper Kupp likely sank many a fantasy title push with his limited production over the past month, and the Rams WR should remain on benches this week for any owners still in the mix. Kupp has topped 44 yards receiving once in his past five games against Arizona. AP NFL: https://apnews.com/hub/NFL
Stocks wavered on Wall Street in afternoon trading Thursday, as gains in tech companies and retailers helped temper losses elsewhere in the market. The S&P 500 was down less than 0.1% after drifting between small gains and losses. The benchmark index is coming off a three-day winning streak. The Dow Jones Industrial Average was up 6 points, or less than 0.1%, as of 1:52 p.m. Eastern time. The Nasdaq composite was down less than 0.1%. Trading volume was lighter than usual as U.S. markets reopened after the Christmas holiday. Chip company Broadcom rose 2.9%, Micron Technology was up 1% and Adobe gained 0.8%. While tech stocks overall were in the green, some heavyweights were a drag on the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.1%. Meta Platforms fell 0.7%, Amazon was down 0.6%, and Netflix gave up 1.1%. Tesla was among the biggest decliners in the S&P 500, down 1.9%. Health care stocks helped lift the market. CVS Health rose 1.7% and Walgreens Boots Alliance rose 3% for the biggest gain among S&P 500 stocks. Several retailers also gained ground. Target rose 2.8%, Best Buy was up 2.2% and Dollar Tree gained 2.7%. Retailers are hoping for a solid sales this holiday season, and the day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins. U.S.-listed shares in rose 4% and 16%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to combine. Traders got a labor market update. U.S. applications for unemployment benefits , though continuing claims rose to the highest level in three years, the Labor Department reported. Treasury yields turned mostly lower in the bond market. The yield on the 10-year Treasury fell to 4.57% from 4.59% late Tuesday. Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia. Trading was expected to be subdued this week with a thin slate of economic data on the calendar. Still, U.S. markets have historically gotten a boost at year’s end despite lower trading volumes. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950. So far this month, the U.S. stock market has lost some of its which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to , a bigger U.S. government debt and difficulties for global trade. Even so, the U.S. market remains on pace to The benchmark S&P 500 is up roughly 26% so far this year and remains near its most recent all-time high it set earlier this month — its latest of this year. Wall Street has several economic reports to look forward to next week, including updates on pending home sales and home prices, a report on U.S. construction spending and snapshots of manufacturing activity. AP Business Writers Elaine Kurtenbach and Matt Ott contributed.