1650 super ph
1650 super ph

NEW YORK (AP) — Wall Street got back to climbing after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve. The S&P 500 gained 0.8% Wednesday to break a two-day losing streak and finished just short of its all-time high. Big Tech stocks led the way, which drove the Nasdaq composite up 1.8% to top the 20,000 level for the first time. The Dow Jones Industrial Average lagged with a dip of 0.2%. Stocks got a boost as expectations built that the Fed will deliver another cut to interest rates at its meeting next week. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stock indexes are rising Wednesday after the latest update on inflation appeared to clear the way for more help for the economy from the Federal Reserve . The S&P 500 gained 0.9% and is on track to break its first two-day losing streak in nearly a month. The Dow Jones Industrial Average fell 7 points, or less than 0.1%, as of 2:45 p.m. Eastern time, and the Nasdaq composite climbed 1.8% and was heading for a record. Treasury yields edged higher in the bond market as expectations built that Wednesday’s inflation data will allow the Fed to deliver another cut to interest rates at its meeting next week. Traders are betting on a 95% probability of that, according to data from CME Group, up from 89% a day before. If they’re correct, it would be a third straight cut by the Fed after it began lowering rates in September from a two-decade high. It’s hoping to support a slowing job market after getting inflation nearly all the way down to its 2% target. Lower rates would give a boost to the economy, but they could also provide more fuel for inflation. Wednesday’s report said U.S. consumers paid prices in November that were 2.7% higher than a year earlier. That’s a slight acceleration from October’s inflation rate of 2.6%, but it was exactly what economists were expecting. Another report on inflation at the wholesale level will arrive on Thursday. “The data have given the Fed the ‘all clear’ for next week, and today’s inflation data keep a January cut in active discussion,” according to Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Expectations for a series of cuts to rates by the Fed have been one of the main reasons the S&P 500 has set an all-time high 57 times this year , with the latest coming last week. On Wall Street, Stitch Fix jumped 47.8% after the company that sends clothes to your door reported a smaller loss for the latest quarter than analysts expected. It also gave financial forecasts for the current quarter that were better than expected, including for revenue. Albertsons edged down by 0.6% after filing a lawsuit against Kroger, saying it didn’t do enough for their proposed $24.6 billion merger agreement to win regulatory clearance. Albertsons said it’s seeking billions of dollars in damages from Kroger, whose stock rose 0.6%. A day earlier, judges in separate cases in Oregon and Washington nixed the supermarket giants’ merger. The grocers contended a combination could have helped them compete with big retailers like Walmart, Costco and Amazon, but critics said it would hurt competition. After terminating the merger agreement Albertsons said it plans to boost its dividend 25% and increased the size of its program to buy back its own stock. Mondelez, the company behind Oreo and other food brands, climbed 2.2% after announcing a plan to send cash to shareholders by buying back up to $9 billion of its own stock. The program replaces a prior $6 billion plan, which had about $2.8 billion of capacity remaining and would have otherwise expired at the end of next year. On the losing end of Wall Street, Macy’s fell 2.3% after cutting some of its financial forecasts for the full year of 2024, including for how much profit it expects to make off each $1 of revenue. Dave & Buster’s Entertainment sank 18.7% after reporting a worse loss for the latest quarter than expected. It also said CEO Chris Morris has resigned, and the board has been working with an executive-search firm for the last few months to find its next permanent leader. In the bond market, the yield on the 10-year Treasury rose to 4.27% from 4.23% late Tuesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose to 4.16% from 4.14%. In stock markets abroad, indexes rose across much of Europe and Asia. Hong Kong’s Hang Seng was an outlier and slipped 0.8% as Chinese leaders convened an annual planning meeting in Beijing that is expected to set economic policies and growth targets for the coming year. South Korea’s Kospi rose 1%, up for a second straight day as it climbs back following last week’s political turmoil where its president briefly declared martial law. ___ AP Writers Matt Ott and Zimo Zhong contributed. Stan Choe, The Associated Press
Shape-changing polymer resembles animal movements with temperature shiftsNoneStaff bonuses rose 12% on average at Canada’s big banks in 2024, but ranged widelyKANSAS CITY, Missouri -- Cincinnati, Cleveland and Denver are the three finalists to become the NWSL's 16th team, commissioner Jessica Berman announced on Friday at CPKC Stadium. The league is in the final stages of a yearlong expansion bidding process and a decision is expected in the coming weeks. The team will begin play in 2026 alongside another expansion team from Boston. "As we think about the geographic footprint of our country, we know that a 14-team league is not where we will end up," Berman said. Editor's Picks Fever's Clark joins Cincinnati NWSL expansion bid 18h Jeff Kassouf KC Current's Chawinga named NWSL MVP 7h Jeff Kassouf In strategic shift, NWSL aims to be a great sports league first, women's league second 14h Jeff Kassouf "All the men's leagues are 30-plus teams for a reason, and in order to build the kind of national exposure, visibility and media deals that we think this league deserves and our fans deserve, we know that we need to be in more markets." Multiple sources told ESPN that the expansion fee could approach $100 million for the team selected. Boston and Bay FC , which began play this year, paid $53 million to enter the league last year. Cincinnati, led by MLS' FC Cincinnati ownership, announced on Thursday that basketball star Caitlin Clark is part of the bidding group's investors . "Her accomplishments and contributions to women's sports is incredible, historic," Berman said. It's changed the game for everyone and she's amazing. Having her interest in the NWSL is an honor." Boston and the city that joins them will be the first expansion teams in league history to not have the benefit of an expansion draft to build their rosters. Allocation money is being phased out of the NWSL; historically, expansion teams were given extra allocation money (effectively cash) to help them build out their roster. Berman said that the league is developing mechanisms to help the expansion teams launch in spring 2026, but she declined to say what those are. "We are developing mechanisms to ensure that those teams can be competitive, as we think about the value of expansion and the importance of setting those teams up for success both on and off the pitch," Berman said. Cleveland and Denver hope to build stadiums and play in temporary venues upon launching in 2026 if their bid is accepted, multiple sources said. The group in Cleveland, which multiple sources also consider to have a strong bid, recently announced that it acquired the downtown land on which it intends to build a stadium.
We will soon put 2024 in the history books, and what a year it was for the stock market. So far, the S&P 500 index has reached a new all-time high a whopping 50 times. There are multiple reasons for the rise, like a resilient economy and expectations that the Federal Reserve will keep lowering interest rates. However, perhaps the largest reason is artificial intelligence (AI) enthusiasm. Some believe that the stock market is in a bubble, or at least overextended, and there are definitely stocks that appear overvalued. However, the AI market is massive and expanding quickly, as shown below. The AI market could more than quadruple 2024 revenues by 2030, so companies (and investors) are scrambling for a piece of it. AI covers a lot of different applications, one of which is voice recognition technology. This tech communicates with people conversationally and has many applications. One of the leading companies in the field is SoundHound AI ( SOUN 12.60% ) , whose stock has rocketed 578% in 2024 as of this writing. Will this continue in 2025? SoundHound's market opportunity The financial implications of conversational speech recognition are gigantic. Order-taking at drive-thru restaurants and automated customer service will save companies vast sums of money on employee costs. Well-known companies like White Castle, Papa John's , Applebee's, and many more are testing or deploying SoundHound's tech. SoundHound just reported that Torchy's Tacos rolled out the tech at their locations. Automotive is another massive market using SoundHound. The tech accesses a vast database to answer questions like "What's the most scenic route?" "What will the weather be like in Detroit this weekend?" or "Where is a nearby Italian restaurant, and what is the fastest way to get there?" This is a significant advancement from the days of "call so and so" and "play music." I believe that voice recognition tech like this will soon be the standard at drive-thrus and automobiles. Statista predicts the market will more than double by 2030, as you can see below. Revenue is growing faster than the market for SoundHound. Is SoundHound stock a buy now? SoundHound reported an 89% year-over-year increase in revenue to $25 million in the third quarter. It also expanded its customer base significantly in 2024. The company expects sales of $82 million to $85 million for 2024, potentially doubling sales with $165 million as the guidance midpoint of 2025. The revenue growth is incredible; however, investors should note that the company is not profitable and does not produce positive cash flow from operations. This makes the stock riskier than profitable companies. SoundHound's valuation is in question after its recent epic run that saw the stock soar 171% over the past 30 days. The company trades for 33 times its potential $165 million in sales for 2025 based on its $5.5 billion market cap at the time of this writing. That is quite high for any company, let alone one that isn't profitable. Analysts put an average price target on SoundHound of $8.07, well below the current price of $14.62. I am enthusiastic about SoundHound's future and was recently high on the stock; however, investors should consider waiting for a pullback after this run.Rani Therapeutics stock hits 52-week low at $1.85Fresh rallies in Georgia after PM said 'won battle' with pro-EU protesters