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Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, we discussed that the selloff heading into Christmas was the setup for the beginning of the year-end “Santa Claus” rally. On Christmas Eve, Santa arrived, pushing the markets back above the important 50-DMA. However, the market sold off on Friday to successfully retest the 50-DMA. While it may seem that the “Santa Rally” stalled, I suspect that we could see some buying next week as portfolio window dressing concludes and traders position portfolios in the first two days of January. As shown, momentum and relative strength are weak currently, but if the market can break back above the 20-DMA, this should bring buyers into the market. As we noted previously, the sell signal keeps a lid on price appreciation, and until that reverses, there is limited upside to the markets over this week. There is also the 24% possibility that a rally fails to materialize entirely. We suggest managing portfolio risk until the market ultimately makes a decisive move. We continue to monitor yield spreads, which remain near the lowest level since the “Financial Crisis.” When yield spreads were this low previously, this equated to excessive optimism about financial market conditions. This is the same currently, as investors are willing to overpay for the risk they are taking on. Unfortunately, such has not ended well previously, but yield spreads will be the leading indicator for investors to reduce portfolio risk more aggressively. For now, optimism remains high. But as we will discuss today, that is also a problem we need to monitor closely. In “ 2025 Predictions, “ we showed some early indications of Wall Street targets for the S&P 500 index, and, as is always the case, optimism for the coming year is very high. The median estimate is for the market to rise to 6600 next year, which would be a disappointing return of just 8.2% after two years of 20% plus gains. However, the high estimate from Wells Fargo suggests a 14% return, with the low estimate from UBS of just a 5% return. Notably, there is not one estimate available for a negative return. Interestingly, optimism for 2025 has taken on an interesting twist. Over the last two years of above-average returns, earnings growth has come from just the top-7 market capitalization companies in the S&P 500 index. However, analysts now expect earnings to shift from the bottom 493 companies in the index. The optimism in these assumptions is interesting because the economy has grown strongly over the last two years, yet those 493 companies could not grow earnings. What will change in 2025? Yes, President Trump has promised to extend the Tax Cuts and Jobs Act, but that doesn’t change the previous tax rate in the last two years. He has proposed to remove tax on tips and social security, but that impacts only a small percentage of the population. On the other hand, depending on the scale and areas of impact, deregulation could improve earnings, but much of that will have to be passed through Congress, which could prove difficult. The Federal Reserve hopes to continue to cut interest rates, but sticky inflation could slow that process, particularly if economic growth remains strong into 2025. Even if the economy continues to grow strongly, what will cause the shift in earnings growth from those dominant market players to much smaller companies? Such is particularly the case given the continued reversal of monetary liquidity in the economy, with higher borrowing costs and declining consumer savings rates. However, while analyst’s optimism about earnings growth in 2025 is high, which would take earnings well above the long-term growth trend, those estimates are already reversing toward reality. In the last six months, estimates have dropped by $3 per share and will likely be closer to $220 per share by next year. As shown, earnings tend not to deviate from the long-term trend for long, and typically, those deviations only occur during recessions and immediate recoveries. As discussed recently , if earnings revert toward the long-term trend, which should be expected given that earnings are a function of economic growth, the current valuations become more problematic. “While the bullish optimism is possible, that outcome faces many challenges in 2025, given the market already trades at fairly lofty valuations. Even in a “soft landing” environment, earnings should weaken, which makes current valuations at 27x earnings more challenging to sustain. Therefore, assuming earnings decline toward their long-term trend, that would suggest current estimates fall to $220/share by the end of 2025. This substantially changes the outlook for stocks, with the most bullish case being 6380, assuming a roughly 4.5% gain versus every other outcome, providing losses ranging from a 2.6% loss to a 20.6% decline.” But again, those assumptions are based on a continued moderation in economic growth. However, to justify the optimism for increased earnings growth, we must also expect that: Economic growth remains more robust than the average 20-year growth rate. Wage and labor growth must reverse (weaken) to sustain historically elevated profit margins . Both interest rates and inflation need to decline to support consumer spending. Trump’s planned tariffs will increase costs on some products and may not be fully offset by replacement and substitution. Reductions in Government spending, debt issuance, and the deficit subtract from corporate profitability (Kalecki Profit Equation). Slower economic growth in China, Europe, and Japan reduces demand for U.S. exports, slowing economic growt h. The Federal Reserve maintaining higher interest rates and continuing to reduce its balance sheet will reduce market liquidity. You get the idea. While optimism about economic and earnings growth is elevated going into 2025, there are risks to those forecasts. Such is particularly true when examining current economic data’s relative strength and trend. Subdued manufacturing activity, slowing GDP growth, and cautious consumer behavior all point to an economic environment less supportive of aggressive earnings growth. As such, investors must carefully navigate the disconnect between high Wall Street expectations and softening economic conditions. A better way to visualize this idea is to look at the correlation between the annual change in earnings growth and inflation-adjusted GDP. There are periods when earnings deviate from underlying economic activity. However, those periods are due to pre- or post-recession earnings fluctuations. Currently, economic and earnings growth are very close to the long-term correlation. Heading into 2025, real personal consumption expenditures (PCE) remain above real retail sales. While such deviations can occur, they tend not to remain that way long, given that retail sales comprise about 40% of PCE. Such suggests that in 2025, PCE will begin to converge with retail sales, resulting in slower economic growth rates. The following graph visualizes the plight of the average American by showing the “gap” between the cost of living and income and savings. To fund the current cost of living, consumers must spend all of their income and savings and then subsidize the remainder with almost $4000 in debt annually. This is why total consumer debt continues to rise, which does sustain economic activity in the near term. However, the longer-term impact is slower economic growth as consumers cannot take on excess debt. Also, if interest rates remain elevated, the impact on economic growth is exacerbated. So, if economic growth slows next year, as the Federal Reserve expects, why is Wall Street so optimistic? When Wall Street wants to make a stock offering for a new company, it has to sell that stock to someone to provide its client, the company, with the funds it needs. The Wall Street firm also makes a very nice commission from the transaction. Generally, these publicly offered shares are sold to the firm’s biggest clients, such as hedge funds, mutual funds, and other institutional clients. But where do those firms get their money? From you. Whether it is the money you invested in your mutual funds, 401k plan, pension fund, or insurance annuity, you are at the bottom of the money-grabbing frenzy. It’s much like a pyramid scheme – all the players above you are making their money...from you. In a study by Lawrence Brown, Andrew Call, Michael Clement, and Nathan Sharp, it is clear that Wall Street analysts are not interested in you. The study surveyed analysts from major Wall Street firms to understand what happened behind closed doors when research reports were being put together. In an interview with the researchers, John Reeves and Llan Moscovitz wrote: “Countless studies have shown that the forecasts and stock recommendations of sell-side analysts are of questionable value to investors. As it turns out, Wall Street sell-side analysts aren’t primarily interested in making accurate stock picks and earnings forecasts. Despite the attention lavished on their forecasts and recommendations, predictive accuracy just isn’t their main job.” The chart below is from the survey conducted by the researchers, which shows the main factors that play into analysts’ compensation. What analysts are “paid” to do is quite different from what retail investors “think” they do. “Sharp and Call told us that ordinary investors, who may be relying on analysts’ stock recommendations to make decisions, need to know that accuracy in these areas is ‘not a priority.’ One analyst told the researchers: ‘The part to me that’s shocking about the industry is that I came into the industry thinking [success] would be based on how well my stock picks do. But a lot of it ends up being “What are your broker votes?”‘ A ‘broker vote’ is an internal process whereby clients of the sell-side analysts’ firms assess the value of their research and decide which firms’ services they wish to buy. This process is crucial to analysts because good broker votes result in revenue for their firm. One analyst noted that broker votes ‘directly impact my compensation and directly impact the compensation of my firm.’” The question becomes, “ If the retail client is not the firm’s focus, then who is?” The survey table below clearly answers that question. Not surprisingly, you are at the bottom of the list. The incestuous relationship between companies, institutional clients, and Wall Street is the root cause of the ongoing problems within the financial system. It is a closed loop portrayed as a fair and functional system; however, it has become a “ money grab” that has corrupted the system and the regulatory agencies that are supposed to oversee it.magic ocean reviews 。

Millions of substandard homes are making older people sick, a damning report suggests. New analysis lays bare the scale of Britain’s poor-quality housing with one in five living in accommodation that could be making existing health conditions worse. The Centre for Ageing Better says 4.5 million people aged 50 and over with a condition aggravated by the cold reside in a home with one or more serious problems - including 2.8 million aged between 50 and 70 and 1.7 million aged 70 and above. The charity warned the NHS cannot function efficiently​ and the economy grow​, while the crisis intensifies. Chief executive Dr Carole Easton said: “Our latest research shows that our poor-quality housing crisis is putting people with health conditions in their 50s, 60s and beyond, in harm’s way. “This is obviously terrible for those individuals who live in homes that carry a very real risk of making them sick, particularly when winter comes around. “But it is also very bad news for the country. Older workers living in homes that are making their health conditions worse are going to be less likely to be able to work and help grow the economy. Older people whose serious health conditions are made worse by their homes will require treatment, putting additional winter pressures on our health system. “All could be averted if we tackled poor-quality housing with the urgency and priority it demands.” Experts looked at those aged 50 and over with a range of conditions impacted by substandard living conditions including respiratory diseases, congestive heart failure, asthma, heart disease and neurological disease. Housing problems included rising damp, water leaks, bad condensation, electrical or plumbing problems, rot and decay, being too cold in the winter and structural issues. Data shows one in three lives in a home with a housing problem including one in seven who report having three or more issues. The highest proportion of older people with health and housing problems are living in the rented sector, but the largest number, totalling 2.2 million people over 50, own their home outright. Older renters with a health condition are up to three times more likely to have five or more issues with their home than someone 50 or over who owns their home outright. Analysis was carried out by the National Centre for Social Research using the English Longitudinal Study of Ageing. The new crisis is the latest to hit old people after millions had their £300 Winter Fuel Payment snatched by the Labour government in September. And it comes despite repeated warnings from charities about how pensioners had been ignored and forgotten. By the end of this parliament in 2029 there will be 14.6 million people aged 65 and over - an 11% increase on the 13.2 million today. Caroline Abrahams, charity director at Age UK, said: “For me, a disappointment of the General Election campaign was the almost total lack of discussion about the implications of an ageing population. It’s one of the most significant trends impacting our country and the world, yet you wouldn’t think so from the political debate. What’s more, when it is mentioned at all it is often described in doom-laden terms whereas, in reality, living longer is something we should all celebrate – it’s certainly preferable to the alternative. “We need politicians, on all sides, to be better informed about the views and experiences of older people and, frankly, to care more about older people’s outcomes and be bolder about acting to help them.” A recent poll found three in four of those aged 65 and over do not believe society understands the issues facing today’s retirees. In one of the final acts before Parliament was dissolved Caroline Nokes, the then Chair of the Women and Equalities Committee, wrote to then Minister for Women and Equalities and now Conservative Party leader Kemi Badenoch, saying: “Despite the UK’s ageing population and the fundamental challenges and opportunities this presents there is insufficient focus on ageing and older people...I believe the case for a Commissioner for Older People’s Rights in England is now overwhelming.” She added: “There is strong evidence of very high prevalence of harmful ageist attitudes and discrimination across UK society. In every area we examined, there was evidence that ageism is not treated as seriously as other forms of discrimination, despite a wealth of evidence on its harms to individuals and society.” Her committee launched an inquiry in 2023 to examine whether discrimination and stereotyping, like characterising older people as helpless or wealthy “boomers”, was preventing them from participating fully in society. Pensioners champion and Peer Baroness Ros Altmann, 68, was set to be made Minister for Ageing in 2015, but the move was vetoed by the Department for Work and Pensions. She said: “Many just want old people to disappear. And the frenetic pace of life these days has left so many feeling marginalised. Decisions affecting their lives are made by people more than half their age and the emphasis on technology to access vital services like car parks, banks and helplines has seen them left cast adrift. We need someone to take this issue by the scruff of the neck and stand up for this generation.” If she had been appointed to the Cabinet Office position as expected, Baroness Altmann would have become a public ambassador for ageing issues, holding the Government and public and private service providers to account. Her appointment was scrapped after opposition within the government. The list of concerns for OAPs is long and growing daily. Technology is widely seen as a modern day cure-all but relatively few older people own a smartphone. The social care crisis remains a huge worry for millions who are petrified of having to flog the family silver, and denying loved ones an inheritance, to pay for care. The State Pension remains the lowest in Europe and there are few opportunities for those who want to continue working past retirement age to retrain. Dr Easton said: “Ageism is the most widespread form of discrimination in the UK.” A government spokesman said: “Despite the challenging inheritance faced by this government, through our Plan for Change we’re taking action to improve housing conditions across all tenures and ensure homes are decent, safe and warm – especially for the most vulnerable. “We’re consulting on reforms to the Decent Homes Standard next year to improve the quality of social and privately rented housing and introducing Awaab’s Law to both sectors to tackle damp, dangerous and cold conditions for all renters in England. “Our Warm Homes Plan will also help people find ways to save money on energy bills and deliver cleaner heating, with up to 300,000 households to benefit from upgrades next year.”

Australia marks 10 years since death of cricketer Phillip Hughes

The UK Government was warned that a “save David campaign” for UUP leader Lord Trimble would ruin progress made under the Good Friday Agreement. Extensive confidential documents in the lead-up to the collapse of Northern Ireland’s institutions in 2002 have been made available to the public as part of annual releases from the Irish National Archives. They reveal that the Irish Government wanted to appeal to the UK side against “manipulating” every scenario for favourable election results in Northern Ireland, in an effort to protect the peace process. In the years after the landmark 1998 Good Friday Agreement, a number of outstanding issues left the political environment fraught with tension and disagreement. Mr Trimble, who won a Nobel Peace Prize with SDLP leader John Hume for their work on the Agreement, was keen to gain wins for the UUP on policing, ceasefire audits and paramilitary disarmament – but also to present his party as firmer on these matters amid swipes from its Unionist rival, the DUP. These issues were at the front of his mind as he tried to steer his party into Assembly elections planned for May 2003 and continue in his role as the Executive’s first minister despite increasing political pressure. The documents reveal the extent to which the British and Irish Governments were trying to delicately resolve the contentious negotiations, conscious that moves seen as concessions to one group could provoke anger on the other side. In June 2002, representatives of the SDLP reported to Irish officials on a recent meeting between Mr Hume’s successor Mark Durkan and Prime Minister Tony Blair on policing and security. Mr Blair is said to have suggested that the SDLP and UUP were among those who both supported and took responsibility for the Good Friday Agreement. The confidential report of the meeting says that Mr Durkan, the deputy First Minister, was not sure that Mr Trimble had been correctly categorised. The Prime Minister asked if the SDLP could work more closely with the UUP ahead of the elections. Mr Durkan argued that Mr Trimble was not only not saleable to nationalists, but also not saleable to half of the UUP – to which Mr Blair and Northern Ireland Secretary John Reid are said to have laughed in agreement. The SDLP leader further warned that pursuing a “save David” campaign would ruin all they had worked for. Damien McAteer, an adviser for the SDLP, was recorded as briefing Irish officials on September 10 that it was his view that Mr Trimble was intent on collapsing the institutions in 2003 over expected fallout for Sinn Fein in the wake of the Colombia Three trial, where men linked to the party were charged with training Farc rebels – but predicted the UUP leader would be “in the toilet” by January, when an Ulster Unionist Council (UUC) meeting was due to take place. A week later in mid September, Mr Trimble assured Irish premier Bertie Ahern that the next UUC meeting to take place in two days’ time would be “okay but not great” and insisted he was not planning to play any “big game”. It was at that meeting that he made the bombshell announcement that the UUP would pull out of the Executive if the IRA had not disbanded by January 18. The move came as a surprise to the Irish officials who, along with their UK counterparts, did not see the deadline as realistic. Sinn Fein described the resolution as a “wreckers’ charter”. Doubts were raised that there would be any progress on substantive issues as parties would not be engaged in “pre-election skirmishing”. As that could lead to a UUP walkout and the resulting suspension of the institutions, the prospect of delaying the elections was raised while bringing forward the vote was ruled out. Therefore, the two Governments stressed the need to cooperate as a stabilising force to protect the Agreement – despite not being sure how that process would survive through the January 18 deadline. The Irish officials became worried that the British side did not share their view that Mr Trimble was not “salvageable” and that the fundamental dynamic in the UUP was now Agreement scepticism, the confidential documents state. In a meeting days after the UUC announcements, Mr Reid is recorded in the documents as saying that as infuriating as it was, Mr Trimble was at that moment the “most enlightened Unionist we have”. The Secretary said he would explore what the UUP leader needed to “survive” the period between January 18 and the election, believing a significant prize could avoid him being “massacred”. Such planning went out the window just weeks later, when hundreds of PSNI officers were involved in raids of several buildings – including Sinn Fein’s offices in Stormont. The resulting “Stormontgate” spy-ring scandal accelerated the collapse of powersharing, with the UUP pulling out of the institutions – and the Secretary of State suspending the Assembly and Executive on October 14. For his part, Irish officials were briefed that Mr Reid was said to be “gung ho” about the prospect of exercising direct rule – reportedly making no mention of the Irish Government in a meeting with Mr Trimble and Mr Durkan on that day. The Northern Ireland Secretary was given a new role and Paul Murphy was appointed as his successor. A note on speaking points for a meeting with Mr Murphy in April showed that the Irish side believed the May elections should go ahead: “At a certain stage the political process has to stand on its own feet. “The Governments cannot be manipulating and finessing every scenario to engineer the right result. “We have to start treating the parties and the people as mature and trusting that they have the discernment to make the right choices.” However, the elections planned for May did not materialise, instead delayed until November. Mr Trimble would go on to lose his Westminster seat – and stewardship of the UUP – in 2005. The November election saw the DUP emerge as the largest parties – but direct rule continued as Ian Paisley’s refused to share power with Sinn Fein, which Martin McGuinness’ colleagues. The parties eventually agreed to work together following further elections in 2007. – This article is based on documents in 2024/130/5, 2024/130/6, 2024/130/15Watch: Belfast astronomer on mission to stop asteroid strike on Earth

LAKE FOREST, Ill. (AP) — Jaylon Johnson wasn't all that interested in discussing any bright spots or reasons to have hope for the Chicago Bears. The star cornerback made his feelings clear. “I’ve been in slumps four, five years in a row now,” Johnson said Monday. "So, I mean at the end of the day, I don’t look for, ‘OK, what is going to be better in the future?’ ... It will be better when it’s better. So, right now, it’s not better. That’s all I can go off of.” The Bears (4-7) are last in the NFC North and have five straight losses after in overtime. They wiped out an 11-point deficit in the final 22 seconds of regulation, only to come up short again when the Vikings' Parker Romo kicked a 29-yard field goal. It was the third game during this skid that came down to the final play. in Week 8 and had a in Week 11. Players have openly questioned some of the coaching decisions in recent weeks. Offensive coordinator Shane Waldron got fired before the game against Green Bay. And coach Matt Eberflus' game management came under more scrutiny against Minnesota. With the Bears trailing 17-10 in the third quarter, there was some confusion on a fourth-and-4 at the Vikings 27. Eberflus said he didn't do a good enough job communicating on the previous play that they would go for it on fourth down. That led to a chaotic sequence in which Santos and long snapper Scott Daly ran onto the field, only to get waved off by a lineman. Quarterback Caleb Williams had to rush to get everyone lined up properly in order to avoid a delay of game. He wound up barking out the wrong play because he misheard the call from offensive coordinator Thomas Brown and threw an incomplete pass. Receiver DJ Moore said Eberflus had not addressed that play with the team. The Bears were scheduled to meet later Monday. “That moment was just like, like a ‘what is going on’ moment that we could have avoided,” he said. What's working The passing game. Williams has clearly looked more comfortable in the two games since Brown replaced the fired Shane Waldron as offensive coordinator. The No. 1 draft pick followed up a solid performance against Green Bay by throwing for 340 yards and two touchdowns. It was his fourth straight turnover-free game and fifth in a row without an interception. What needs help Field goal protection. One week after his game-ending 46-yard field goal attempt against Green Bay got blocked, Santos had a 48-yarder rejected on his first try against Minnesota. It happened from the same area, in the middle of the line, when the Vikings' Jerry Tillery knocked down the kick. “I just think it’s technique," Eberflus said. "It’s getting your foot down, bracing up there, staying lower. ... We just have to do a better job there with that.” It was the third blocked field goal for Santos this year, the most for Chicago in a single season since it also had three blocked in 2012. He had a 43-yard try blocked in a win over Jacksonville on Oct. 13. Stock up Moore. The Bears have done a better job getting Moore involved under Brown. Moore caught seven passes for a season-high 106 yards and a touchdown against Minnesota. That gave him 14 receptions for 168 yards the past two games, compared to 13 for 104 yards over the previous four. Johnson's 27-yard catch down the middle set up Santos' tying field goal at the end of regulation. But it's not just deep shots. The Bears are finding ways to get the ball in his hands, allowing him to turn short passes into bigger gains. He also had a 13-yard run. Stock down RB D’Andre Swift. After a string of solid outings, Swift had just 30 yards on 13 carries. To be fair, he has been dealing with a groin issue, and he was going against the NFL's No. 1 run defense. Injuries The Bears reported no injuries during the game. Key number 5-18 — The Bears' record in one-possession games in nearly three seasons under Eberflus, including a 2-5 mark this year. They are 14-31 overall during Eberflus' tenure. Next steps The schedule doesn't get any easier, with a Thanksgiving matchup at NFC North leader Detroit. The Lions (10-1) have won nine straight since losing to Tampa Bay in Week 2. ___ AP NFL: Andrew Seligman, The Associated PressThe HondaJet Series: A Look At The Popular Very Light Business Jet

NEW YORK (AP) — U.S. stocks rose Monday, with those benefiting the most from lower interest rates and a stronger economy leading the way. The S&P 500 climbed 0.3% to pull closer to its all-time high set two weeks ago. The Dow Jones Industrial Average added 440 points, or 1%, to its own record set on Friday, while the Nasdaq composite rose 0.3%. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.

Stock market today: Dow hits another record as stocks riseThe Kansas City Chiefs have decided they will rest key players in the Week 18 game against the Denver Broncos , a move that could potentially impact the Cincinnati Bengals ' playoff hopes. The Bengals managed to secure a thrilling overtime victory against the Broncos on Saturday, thanks to an outstanding performance by Joe Burrow . To keep their NFL Playoff dreams alive, they now need to defeat the Pittsburgh Steelers next weekend and hope for a Broncos loss to the Chiefs at Empower Field at Mile High. Andy Reid confirms unwanted blow for Patrick Mahomes and Kansas City Chiefs Patrick Mahomes keeps promise to pregnant wife Brittany during Christmas apart Burrow's recent exceptional performances have led to MVP talks and increased speculation about their postseason chances if they qualify. However, they now require assistance from the Chiefs, leading some to question whether the Chiefs would want to risk a potential future encounter with the Bengals. CBS Sports has reported that the Chiefs will indeed rest key players to prepare for more significant games ahead. Defensive tackle Chris Jones missed the Christmas Day victory over the Steelers due to injury, while quarterback Patrick Mahomes has been dealing with an ankle injury and running back Isiah Pacheco took a hard hit to the ribs in their last game. Carson Wentz is expected to replace Mahomes as quarterback. Travis Kelce , 35, may also see limited playtime given his importance to the team's strategy and his age. The debate over the potential outcome of the game, given the high stakes, has already begun on social media. The Chiefs have secured home field advantage and a first-round bye in the post-season. DON'T MISS: Terry Bradshaw secured Fox NFL role after simple gesture won over producer Taylor Swift response speaks volumes after missing Travis Kelce break record Jimmy Carter was responsible for NFL tradition, Terry Bradshaw played big part CBS Sports reporter Tracy Wolfson speculated: "Denver plays KC next week. Not only is there a good chance won't play a lot of their starters, don't you think they want Denver to win? Have to think they want no part of Cincy going forward!". Former NFL offensive lineman Geoff Schwartz added: " The thing I'm most interested in are the few moments against the Broncos where the Chiefs can decide to back off a bit. They will absolutely game plan to win. And play to win. But what if they are down 7 with under two minutes. Do they really try to score? Or just run the ball. "I know ppl will assume the Chiefs would rather keep Burrow out of the postseason but I'm not sure they'd actually make in game decisions based on that. Could make the argument a possible Bengals upset over the Bills would benefit the Chiefs".

The Blue Devils (6-1) overcame an early 11-point deficit behind Jackon’s shooting hand to advance to Wednesday’s championship game against the winner of the game between No. 8 Oklahoma and DePaul. Jackson, who has scored in double figures in all six of Duke’s games, shot 12 of 19 (63.1%) from the floor, including 6 of 9 (66.7%) from 3-point range. Reigan Richardson added 16 points for the Blue Devils. Kansas State (5-1) was led by Ayoka Lee, who had 16 points. Serena Sundell scored 15 and Kennedy Taylor came off the bench to add 11 for the Wildcats. Kansas State: With her 16-point performance, Lee needs 48 points to pass Kendra Wecker (2001-05) for the Kansas State career scoring record. Wecker scored 2,333 points. Lee, the 2024-25 Preseason Big 12 Player of the Year, is averaging 15.3 points. Duke: Jackson hit her season average of 13.3 points by the 3:54 mark of the second quarter when her pull-up jumper gave her 14. The junior guard was 8 of 11 from the floor, including 4 of 5 from 3-point range, and had 20 points by halftime. With the Blue Devils trailing by six midway through the second quarter, Jackson triggered a 15-0 run with 13 of the team’s points to help Duke take a lead they’d never relinquish. Duke will face the winner of No. 8 Oklahoma-DePaul on Wednesday in the championship game, while Kansas State will face the loser in the consolation game. Get poll alerts and updates on AP Top 25 basketball throughout the season. Sign up here. AP women’s college basketball: https://apnews.com/hub/ap-top-25-womens-college-basketball-poll and https://apnews.com/hub/womens-college-basketballThe confidential briefing note is part of the tranche of documents made public in the annual release of State papers from the Irish National Archives. An Irish Department of Foreign Affairs official focusing on justice and security created the list in October 2002. The document starts by referencing a 1999 interview given by George Mitchell, the chairman of the Good Friday Agreement negotiations, in which he claimed the British and Irish governments, as well as Northern Ireland’s political parties, had leaked information to manipulate public opinion. However, he further accused the NIO of attempting to sabotage the process by leaking information on British Government policy to the media. Mr Mitchell, a former US senator, is said to have expressed alarm and anger over the frequency of leaks from the NIO – saying they were uniquely “designed to undermine the policy of the British Government of which they were a part”. The Irish civil servant notes Mr Mitchell himself was subjected to an attempted “smear” when he first arrived in Northern Ireland, as newspaper articles falsely claimed his chief of staff Martha Pope had had a liaison with Sinn Fein representative Gerry Kelly with ulterior motives. The Irish civil servant goes on to list several “leaks”, starting with the publication of a proposed deal in a newspaper while “intense negotiations” for the Downing Street Declaration were under way. Next, the Department lists two “high-profile and damaging leaks issued from the NIO”. A so-called “gameplan” document was leaked in February 1998, showing papers had been prepared weeks before the Drumcree march on July 6, 1997. In the preceding years, there had been standoffs and clashes as nationalists opposed the procession of an Orange parade down Garvaghy Road in Portadown. The gameplan document showed then secretary of state for Northern Ireland Mo Mowlam, who was publicly expressing a desire for a negotiated solution to the 1997 parade, advocated “finding the lowest common denominator for getting some Orange feet on the Garvaghy Road”. In 1997, a large number of security forces were deployed to the area to allow the march to proceed. The incident sparked heightened tension and a wave of rioting. The document further describes the release of a document submitted by the NIO’s director of communications to the secretary of state as a “second major leak”. It claims a publicity strategy was released to the DUP in the aftermath of the Good Friday Agreement and showed how the UK Government would support a yes vote in a referendum following any talks agreement. In addition, it is claimed unionists used leaked sections of the Patten report on policing to invalidate its findings ahead of its publication in 1999. The report recommended the replacement of the Royal Ulster Constabulary with the Police Service of Northern Ireland, the changing of symbols, and a 50-50 recruitment policy for Catholics and Protestants. At the time, UUP leader David Trimble said the recommendations would lead to a corruption of policing in Northern Ireland. Chris Patten, chairman of the independent commission on policing, said some of the assertions were a “total fabrication” and designed to “muddy the waters” to create a difficult political atmosphere. Elsewhere, the author notes it was leaked to the media there was serious disagreement between the governments of the UK and Ireland on the composition of that commission – with not a single name submitted by the Irish side being accepted by the other. The author notes this incident, still under the heading “NIO leaks”, was believed by British officials to have emanated from the Irish side. The report turns to leaks of other origin, claiming “disgruntled Special Branch officers in Northern Ireland” were blamed by the British Government for a series of releases about the IRA which were designed to damage Sinn Fein in the 2001 general election in Northern Ireland. One senior Whitehall source was quoted in the Guardian as complaining that Special Branch was “leaking like a sieve” after details of an IRA intelligence database containing the names of leading Tories – described at the time as a “hit list” – was passed to the BBC in April 2002. The briefing note adds: “This was followed days later by a leak to The Sunday Telegraph which alleged that senior IRA commanders bought Russian special forces rifles in Moscow last year. “The newspaper said it was passed details by military intelligence in London.” The briefing note adds that other Special Branch leaks were associated with the Castlereagh break-in. The final incident in the document notes the Police Ombudsman’s Report on the Omagh bombing was also leaked to the press in December 2001. Then Northern Ireland secretary John Reid said at the time: “Leaks are never helpful and usually malicious – I will not be commenting on this report until I have seen the final version.” The reason for creating the list of leaks, which the Irish National Archives holds in a folder alongside briefing notes for ministers ahead of meetings with officials from the UK Government and NIO, is not outlined in the document itself. – This document is based on material in 2024/130/6.

CYPRESS LAKE, Fla. (AP) — Peter Suder's 16 points helped Miami (Ohio) defeat Mercer 75-72 on Tuesday. Suder had six rebounds and four steals for the RedHawks (4-2). Eian Elmer scored 15 points and added five rebounds and three steals. Antwone Woolfolk shot 5 of 8 from the field and 3 of 4 from the free-throw line to finish with 13 points, while adding six rebounds. Ahmad Robinson finished with 19 points, six assists and three steals for the Bears (3-4). Brady Shoulders added 14 points and four steals for Mercer. Alex Holt also put up 12 points and nine rebounds. Miami went into the half leading Mercer 35-30. Elmer scored 11 points in the half. Suder scored 12 second-half points. The Associated Press created this story using technology provided by Data Skrive and data from Sportradar .

Thrivent Financial for Lutherans grew its stake in Gaming and Leisure Properties, Inc. ( NASDAQ:GLPI – Free Report ) by 147.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,850 shares of the real estate investment trust’s stock after purchasing an additional 102,858 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of Gaming and Leisure Properties worth $8,893,000 at the end of the most recent reporting period. Other large investors have also modified their holdings of the company. Lazard Asset Management LLC raised its holdings in Gaming and Leisure Properties by 5.0% during the first quarter. Lazard Asset Management LLC now owns 239,225 shares of the real estate investment trust’s stock worth $11,020,000 after purchasing an additional 11,387 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Gaming and Leisure Properties during the 1st quarter worth approximately $3,040,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gaming and Leisure Properties by 36.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,910,169 shares of the real estate investment trust’s stock valued at $134,074,000 after buying an additional 781,906 shares during the period. Caxton Associates LP boosted its stake in shares of Gaming and Leisure Properties by 72.5% in the first quarter. Caxton Associates LP now owns 24,282 shares of the real estate investment trust’s stock valued at $1,119,000 after buying an additional 10,209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Gaming and Leisure Properties by 4.8% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,286 shares of the real estate investment trust’s stock worth $469,000 after acquiring an additional 470 shares during the period. Hedge funds and other institutional investors own 91.14% of the company’s stock. Insiders Place Their Bets In other Gaming and Leisure Properties news, CFO Desiree A. Burke sold 12,973 shares of Gaming and Leisure Properties stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $52.02, for a total value of $674,855.46. Following the completion of the sale, the chief financial officer now owns 108,073 shares in the company, valued at $5,621,957.46. The trade was a 10.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link . Also, Director E Scott Urdang sold 6,885 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.16, for a total transaction of $345,351.60. Following the completion of the sale, the director now directly owns 149,800 shares in the company, valued at $7,513,968. This represents a 4.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders have sold a total of 22,858 shares of company stock valued at $1,171,377 in the last quarter. 4.37% of the stock is currently owned by company insiders. Analyst Upgrades and Downgrades Check Out Our Latest Stock Report on GLPI Gaming and Leisure Properties Stock Performance NASDAQ GLPI opened at $50.92 on Friday. The company has a quick ratio of 11.35, a current ratio of 11.35 and a debt-to-equity ratio of 1.62. Gaming and Leisure Properties, Inc. has a fifty-two week low of $41.80 and a fifty-two week high of $52.60. The business has a fifty day moving average of $50.58 and a 200-day moving average of $48.35. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.16 and a beta of 0.99. Gaming and Leisure Properties ( NASDAQ:GLPI – Get Free Report ) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Gaming and Leisure Properties had a net margin of 51.93% and a return on equity of 17.31%. The firm had revenue of $385.34 million during the quarter, compared to analyst estimates of $385.09 million. During the same period in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts predict that Gaming and Leisure Properties, Inc. will post 3.67 earnings per share for the current fiscal year. Gaming and Leisure Properties Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.76 dividend. The ex-dividend date was Friday, September 13th. This represents a $3.04 annualized dividend and a yield of 5.97%. Gaming and Leisure Properties’s dividend payout ratio (DPR) is presently 106.29%. About Gaming and Leisure Properties ( Free Report ) GLPI is engaged in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements, pursuant to which the tenant is responsible for all facility maintenance, insurance required in connection with the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties. Read More Want to see what other hedge funds are holding GLPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gaming and Leisure Properties, Inc. ( NASDAQ:GLPI – Free Report ). 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Ambarella: Fiscal Q3 Earnings SnapshotIreland blamed Northern Ireland Office for ‘damaging leaks’, records showANDOVER, Mass. , Dec. 12, 2024 /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (Nasdaq: TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today announced that on December 9, 2024 , TransMedics granted non-qualified stock options to purchase an aggregate of 20,612 shares of its common stock and an aggregate of 13,576 restricted stock units to 3 employees, each as a material inducement for each employee's entry into employment with TransMedics. The grants included stock options to purchase 18,922 shares of TransMedics' common stock and 12,463 restricted stock units granted to Gerardo Hernandez , the Company's Chief Financial Officer. The grants were approved by the Compensation Committee of the TransMedics Board of Directors and were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and pursuant to the TransMedics Group, Inc. Inducement Plan. TransMedics granted non-qualified stock options to purchase 20,612 shares of TransMedics' common stock and 13,576 restricted stock units in the aggregate. The stock options were granted with a per share exercise price of $69.84 , the closing price of the common stock on the Nasdaq Global Market on December 9, 2024 . Twenty-five percent of the shares subject to each option will vest on the first yearly anniversary of the date of the employee's start of employment, with the remainder vesting in equal monthly installments over the subsequent three year period, subject to the employee's continued service with the Company through the applicable vesting date. The options have a 10-year term and are subject to the terms of the TransMedics Group, Inc. Inducement Plan. Twenty-five percent of each restricted stock unit award will vest on the first four anniversaries of the date of the employee's start of employment, subject to the employee's continued service with the Company through the applicable vesting date. The restricted stock units are subject to the terms of the TransMedics Group, Inc. Inducement Plan. About TransMedics Group, Inc. TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts , the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure. Investor Contact: Brian Johnston 332-895-3222 Investors@transmedics.com View original content to download multimedia: https://www.prnewswire.com/news-releases/transmedics-reports-inducement-grants-under-nasdaq-listing-rule-5635c4-302330724.html SOURCE TransMedics Group, Inc.

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Unconvincing Canada tops Germany 3-0 at world juniorsWASHINGTON: Brian Blank is a finance scholar and Fed watcher who researches how companies navigate downturns and make financial decisions, as well as how markets process information. Brandy Hadley is a finance professor who leads a student-managed investment fund and studies corporate decision-making and incentives. Together, they’re also the resident economic oracles at The Conversation US, and their forecast for 2024 held up notably well. Here, they explain what to expect from 2025. Heading into 2024, we said the US economy would likely continue growing, in spite of pundits’ forecast that a recession would strike. The past year showcased strong economic growth, moderating inflation, and efficiency gains, leading most economists and the financial press to stop expecting a downturn. But what economists call “soft landings” – when an economy slows just enough to curb inflation, but not enough to cause a recession – are only soft until they aren’t. As we turn to 2025, we’re optimistic the economy will keep growing. But that’s not without some caveats. Here are the key questions and risks we’re watching as the US rings in the new year. Some people expected a downturn in 2022 – and again in 2023 and 2024 – due to the Federal Reserve’s hawkish interest-rate decisions. The Fed raised rates rapidly in 2022 and held them high throughout 2023 and much of 2024. But in the last four months of 2024, the Fed slashed rates three times – most recently on Dec. 18. While the recent rate cuts mark a strategic shift, the pace of future cuts is expected to slow in 2024, as Fed Chair Jerome Powell suggested at the December meeting of the Federal Open Market Committee. Markets have expected this change of pace for some time, but some economists remain concerned about heightened risks of an economic slowdown. When Fed policymakers set short-term interest rates, they consider whether inflation and unemployment are too high or low, which affects whether they should stimulate the economy or pump the brakes. The interest rate that neither stimulates nor restricts economic activity, often referred to as R* or the neutral rate, is unknown, which makes the Fed’s job challenging. However, the terminal rate – which is where Fed policymakers expect rates will settle in for the long run – is now at 3 percent, which is the highest since 2016. This has led futures markets to wonder if a hiking cycle may be coming into focus, while others ask if the era of low rates is over. This shift in the Federal Reserve’s approach underscores a key uncertainty for 2025: While some economists are concerned the recent uptick in unemployment may continue, others worry about sticky inflation. The Fed’s challenge will be striking the right balance — continuing to support economic activity while ensuring inflation, currently hovering around 2.4 percent, doesn’t reignite. We do anticipate that interest rates will stay elevated amid slowing inflation, which remains above the Fed’s 2 percent target rate. Still, we’re optimistic this high-rate environment won’t weigh too heavily on consumers and the economy. While gross domestic product growth for the third quarter was revised up to 3.1 percent and the fourth quarter is projected to grow similarly quickly, in 2025 it could finally show signs of slowing from its recent pace. However, we expect it to continue to exceed consensus forecasts of 2.2 percent and longer-run expectations of 2 percent. While inflation has declined from 9.1 percent in June 2022 to less than 3 percent, the Federal Reserve’s 2 percent target remains elusive. Amid this backdrop, several new risks loom on the horizon. Key among them are potential tariff increases, which could disrupt trade, push up the prices of goods and even strengthen the US dollar. The average effective US tariff rate is 2 percent, but even a fivefold increase to 10 percent could escalate trade tensions, create economic challenges and complicate inflation forecasts. Consider that, historically, every 1 percent increase in tariff rates has resulted in a 0.1 percent higher annual inflation rate, on average. Still, we hope tariffs serve as more of a negotiating tactic for the incoming administration than an actual policy proposal. Tariffs are just one of several proposals from the incoming Trump administration that present further uncertainty. Stricter immigration policies could create labor shortages and increase prices, while government spending cuts could weigh down economic growth. Tax cuts – a likely policy focus – may offset some risk and spur growth, especially if coupled with productivity-enhancing investments. However, tax cuts may also result in a growing budget deficit, which is another risk to the longer-term economic outlook. Count us as two financial economists hoping only certain inflation measures fall slower than expected, and everyone’s expectations for future inflation remain low. If so, the Federal Reserve should be able to look beyond short-term changes in inflation and focus on metrics that are more useful for predicting long-term inflation. Labor markets have softened but remain resilient. Hiring rates are normalizing, while layoffs and unemployment – 4.2 percent, up from 3.7 percent at the start of 2024 – remain low despite edging up. The US economy could remain resilient into 2025, with continued growth in real incomes bolstering purchasing power. This income growth has supported consumer sentiment and reduced inequality, since low-income households have seen the greatest benefits. However, elevated debt balances, given increased consumer spending, suggest some Americans are under financial stress even though income growth has outpaced increases in consumer debt. While a higher unemployment rate is a concern, this risk to date appears limited, potentially due to labor hoarding – which is when employers are afraid to let go of employees they no longer require due to the difficulty in hiring new workers. Higher unemployment is also an issue the Fed has the tools to address – if it must. This leaves us cautiously optimistic that resilient consumers will continue to retain jobs, supporting their growing purchasing power. The outlook for 2025 remains promising, with continued economic growth driven by resilient consumer spending, steadying labor markets, and less restrictive monetary policy. Yet current price targets for stocks are at historic highs for a post-rally period, which is surprising and may offer reasons for caution. Higher-for-longer interest rates could put pressure on corporate debt levels and rate-sensitive sectors, such as housing and utilities. Corporate earnings, however, remain strong, buoyed by cost savings and productivity gains. Stock performance may be subdued, but underperforming or discounted stocks could rebound, presenting opportunities for gains in 2025. Artificial intelligence provides a bright spot, leading to recent outperformance in the tech-heavy NASDAQ and related investments. And onshoring continues to provide growth opportunities for companies reshaping supply chains to meet domestic demand. To be fair, uncertainty persists, and economists know forecasting is for the weather. That’s why investors should always remain well-diversified. But with inflation closer to the Fed’s target and wages rising faster than inflation, we’re optimistic that continued economic growth will pave the way for a financially positive year ahead. Here’s hoping we get even more right about 2025 than we did this past year.Cousins Properties Announces Pricing of Senior Notes Offering