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AP News Summary at 6:33 p.m. EST
Students participate in VU balloon launch
The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed.
From Chili's 'triple dipper' to The Cheesecake Factory, restaurant chains are reviving mallsJanette Nesheiwat, a family medicine doctor who runs a chain of urgent care clinics, is President-elect Donald Trump’s pick for surgeon general ― one of the nation’s leading voices on matters of public health. She’s a fixture on Fox News, home to several of Trump’s other intended Cabinet nominees . And she’s long been a vocal Trump supporter: Her social media accounts feature videos of Trump wishing her a happy birthday, selfies with him on the White House lawn and pictures with members of his inner circle at his Madison Square Garden rally. Her sister, Julia Nesheiwat, also served as Trump’s homeland security adviser during his last year in office. If she’s confirmed by the Senate, she’ll be expected to set the tone on how the government approaches Americans’ medical concerns, launch programs to promote healthy lifestyles and weigh in on ongoing public health issues, from the opioid epidemic to youth nicotine use. And she’ll also oversee the 6,000 members of the United States Public Health Service Corps. Here’s what else there is to know about her: Nesheiwat, the medical director for a New York-area urgent care clinic network, has been a Fox News medical contributor since the early days of the COVID-19 pandemic. On her website and social media, she’s shared about her medical missions to Ukraine and Morocco. But overall, her public health experience is thin compared to that of the current surgeon general, Vivek Murthy, who also served under former President Barack Obama and was involved in multiple nationwide health care efforts prior to taking the job. Fox News has called on Nesheiwat to weigh in on all sorts of medical stories. When Trump began taking the antimalarial drug hydroxychloroquine to ward off COVID-19, Nesheiwat came on to say it was a “ smart ” idea and that she’d prescribed it to some of her patients infected with the virus. At the time, no testing had established the effectiveness of using hydroxychloroquine, which has substantial potential harms, to prevent COVID-19. The World Health Organization later said that after completing six trials, it did not recommend taking hydroxychloroquine to either prevent or treat the disease. Nesheiwat emphasized the importance of consulting with a doctor before trying out the drug. But people found ways around that. After Trump began promoting the drug, a man in Arizona died from ingesting a chloroquine-containing aquarium product. Nesheiwat is behind a dietary supplement called BC Boost that contains vitamins C, B-12, D and zinc. The product, which features her image on the bottle, claims that within a few weeks, “your immune system will still be strengthened.” “I was always telling my patients who were unwell drink some tea, take some vitamin b12 and vitamin C,” she says on a website advertising the supplement . “I found myself repeating my all natural regimen to my patients over and over ‘take some B12 and C to Boost’ your immune system.” Medical experts and public health agencies say that for the vast majority of people, the best way to get those vitamins is through a healthy diet . Overconsumption of certain nutrients — including some of the vitamins in BC Boost’s product, albeit at higher doses — may lead to serious health problems , including kidney stones and heart rhythm issues. While the supplement industry is regulated by the Food and Drug Administration, the agency does not consider supplements to be medicine, and companies are not required to prove that their products are effective. A 30-day supply of Nesheiwat’s product costs $26.99. Nesheiwat has been a big proponent of the COVID-19 vaccine for adults, saying its benefits “greatly outweigh” any short-lived side effects and describing it as “a gift from God .” But in the years since the peak of the pandemic, Nesheiwat has expressed opposition to vaccine requirements. “To mandate vaccines, at this point, I think, is the wrong move,” she said on Fox News in the summer of last year. She also blamed vaccine mandates for negatively affecting the U.S. workforce. “We lost good firefighters, police officers, teachers, healthcare providers and even athletes who refused to capitulate to the out-of-date, CDC regulations,” she wrote in an opinion piece for Fox News in April 2023. In that same piece, Nesheiwat claimed mask and vaccine mandates were ineffective because the virus continued to spread, even with these measures in place. But she at least partially credited the shots for easing the pandemic: “With time,” she wrote, “the severity decreased most likely due to population immunity and re-infection along with vaccination.” Nesheiwat has also questioned giving the COVID-19 vaccine to children. In late 2021, she said on Fox News that “a booster or third dose might cause ... a rare form of myocarditis or pericarditis ,” which are types of heart inflammation, in young boys. She failed to mention that such side effects following a vaccine are very rare, and that patients are much more likely to develop those conditions following COVID-19 infection than they are from the vaccine. During a 2022 Fox News appearance , Nesheiwat acknowledged that transgender children exist and urged their parents to “accept them and love them for who they are,” noting that rates of suicide attempts among transgender kids are significantly higher than that of their cisgender peers. Despite acknowledging that, she claimed the medical establishment is “only wanting to push drugs and hormones and other types of surgical interventions, rather than taking a conservative approach, such as psychotherapy.” It’s false that doctors are pushing those types of treatments on children. A 2022 Reuters report found that only around 10% of 42,167 children ages 6-17 who’d been diagnosed with gender dysphoria in 2021 were prescribed hormone or puberty blocker treatments. Among those with the diagnosis, a mere 0.6% of them received gender-affirming top surgery. Nesheiwat’s stance on this issue is out of step with that of every major medical group in the United States, which have determined that gender-related medical care is effective and medically necessary. She’s also accused Health and Human Services Secretary Xavier Becerra of focusing about transgender health care at the expense of addressing sexually transmitted infections and spoken out against transgender athletes’ inclusion in women’s sports. Trump Picks Fox News Medical Contributor To Be Surgeon General 5 Things To Know About Pam Bondi, Trump’s New Pick For Attorney General Elizabeth Warren Warns Trump Nominee: Hands Off The Fed
Jeremy Clarkson has backpedalled on his previous comments about why he bought his farm, saying he thought it would be a “better PR story if I said I bought it to avoid paying tax”. The TV presenter and journalist defied doctors’ orders by joining thousands of farmers in London on Tuesday to protest against agricultural inheritance tax changes. The 64-year-old, who fronts Prime Video’s Clarkson’s Farm, which documents the trials of farming on his land in Oxfordshire, wrote in a post on the Top Gear website in 2010: “I have bought a farm. There are many sensible reasons for this: Land is a better investment than any bank can offer. The government doesn’t get any of my money when I die. And the price of the food that I grow can only go up.” Clarkson also told the Times in 2021 that avoiding inheritance tax was “the critical thing” in his decision to buy land. Addressing the claim in a new interview with The Times, the former Top Gear presenter said: “I never did admit why I really bought it.” The fan of game bird shooting added: “I wanted to have a shoot – I was very naive. I just thought it would be a better PR story if I said I bought it to avoid paying tax.” Clarkson was among the thousands who took to the streets this week to protest over the changes in the recent Budget to impose inheritance tax on farms worth more than £1 million and he addressed the crowds at the march in central London. He told the newspaper he is not happy to be the public face of the movement, saying: “It should be led by farmers.” The presenter said he does not consider himself a farmer because there are “so many basic jobs” which he cannot do, but he feels his role is to “report on farming”. Earlier this month, it was confirmed Clarkson’s Farm, which has attracted huge attention to his Diddly Squat farm shop, had been renewed for a fifth series. Asked whether the issue behind the tax protest is that rural poverty is hidden, Clarkson agreed and said his programme was not helping to address the situation. “One of the problems we have on the show is we’re not showing the poverty either, because obviously on Diddly Squat there isn’t any poverty”, he said. “But trust me, there is absolute poverty. I’m surrounded by farmers. I’m not going out for dinner with James Dyson. “It’s people with 200 acres, 400 acres. Way past Rachel Reeves’s threshold. They are f*****.” The newspaper columnist also presents Who Wants To Be A Millionaire? on ITV. The Grand Tour, his motoring show with former Top Gear colleagues Richard Hammond and James May, ended in September. Discussing whether he might move into politics, Clarkson said: “I’d be a terrible political leader, hopeless. “I’m a journalist at heart, I prefer throwing rocks at people than having them thrown at me.” However, he said he would be “100% behind any escalation” after the farmers’ march. Clarkson revealed last month he had undergone a heart procedure to have stents fitted after experiencing a “sudden deterioration” in his health which brought on symptoms of being “clammy”, a “tightness” in his chest and “pins and needles” in his left arm. He said in a Sunday Times column that one of his arteries was “completely blocked and the second of three was heading that way” and doctors said he was perhaps “days away” from becoming very ill. Asked if he is thinking about retiring, the Doncaster-born celebrity said: “Probably not. It depends when you die, I always think. “You’d be surprised, us Northerners are made of strong stuff.”
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President-elect Donald Trump helped pen business advice in his 1987 book "The Art of the Deal" that has echoed throughout his posture on tariffs, from his first term to today: "Leverage: don't make deals without it." On Monday evening, Trump announced that he plans to use executive orders to impose a 25% tariff on all goods from Mexico and Canada on his . He said in a post on Truth Social that the tariffs "will remain in effect until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!" Though Trump promised to implement harsh tariffs throughout the campaign, actions from his first term indicate that the sweeping threat — which has reverberated throughout and like auto — might be a version of Trump's long-favored "leverage." In June of 2019, Trump threatened tariffs against Mexico if the country didn't alter its immigration system, which it eventually . "That was in a sense analogous to what he's doing now outside of economics, when he's talking about fentanyl and he's demanding more control of people coming to the border," Robert Lawrence, a professor of international trade and investment and a senior fellow at the Peterson Institute for International Economics, told Business Insider. "Were the tariffs the reason the Mexicans became more compliant? I don't know, but he certainly did use that as a threat." Lawrence added that the threat of tariffs is effective rhetorically right now, particularly for people in the European Union who doubted Trump's willingness to follow through on his word. Trump also used tariffs as "leverage" when renegotiating the North American Free Trade agreement, Mark Blyth, a political economist at Brown University, told BI. Blyth said that Trump is notably unpredictable and that, until he steps into the White House again on January 20, people can only speculate about what promises he'll follow through on. "We're all shadow boxing. We're jumping at the show: 'Look, he's going to do this! He says he's going to do this!'" Blyth said. "He's still got to get in, he's still got to form his . He's got to put in these people and then he can do stuff." According to a report from the , tariffs set important context for the NAFTA renegotiations, and Mexico and Canada likely wouldn't have come to the negotiating table without them. But the report concludes that using tariffs-as-leverage do not necessarily result in significantly more favorable trade relations, though they do succeed in getting "other countries' attention." While are taking Trump's threats seriously, some banking leaders seem to think that Trump's most recent tariff threat is a continuation of his prior negotiation tactic. "This is President Trump's negotiating style: step one, punch in the face, step two, let's negotiate," Kieran Calder, the head of equity research for Asia at Union Bancaire Privée, said, according to . In a report published Tuesday morning, said that "the timing and narrow focus of the latest threat suggest scope for negotiation." By focusing on non-trade issues — immigration and drugs — Trump is suggesting that the tariffs are transactional, focused more on gaining the upper hand than implementing long-term tariffs, the authors argue. The global head for emerging markets strategy at Citi Bank, Luis Costa, spoke on on Tuesday morning to make a similar point in relation to Mexico. "To us, it is absolutely obvious that the Trump administration will use tariffs as one important lever to negotiate with Sheinbaum's government," he said. "It is probably something that is more about negotiation rather than about imposing tariffs." And Trump's own nominee for Treasury secretary, , published an earlier this month arguing that the president-elect uses "tariffs as a negotiating tool with our trading partners." A spokesperson from the Trump transition team told BI in a statement that "in his first term, President Trump instituted tariffs against China that created jobs, spurred investment, and resulted in no inflation." Read the original article onAP Sports SummaryBrief at 5:45 p.m. EST
Jonah Goldberg Among elites across the ideological spectrum, there's one point of unifying agreement: Americans are bitterly divided. What if that's wrong? What if elites are the ones who are bitterly divided while most Americans are fairly unified? History rarely lines up perfectly with the calendar (the "sixties" didn't really start until the decade was almost over). But politically, the 21st century neatly began in 2000, when the election ended in a tie and the color coding of electoral maps became enshrined as a kind of permanent tribal color war of "red vs. blue." Elite understanding of politics has been stuck in this framework ever since. Politicians and voters have leaned into this alleged political reality, making it seem all the more real in the process. I loathe the phrase "perception is reality," but in politics it has the reifying power of self-fulfilling prophecy. People are also reading... Like rival noble families in medieval Europe, elites have been vying for power and dominance on the arrogant assumption that their subjects share their concern for who rules rather than what the rulers can deliver. Gobble up these 14 political cartoons about Thanksgiving Political cartoonists from across country draw up something special for the holiday In 2018, the group More in Common published a massive report on the "hidden tribes" of American politics. The wealthiest and whitest groups were "devoted conservatives" (6%) and "progressive activists" (8%). These tribes dominate the media, the parties and higher education, and they dictate the competing narratives of red vs. blue, particularly on cable news and social media. Meanwhile, the overwhelming majority of Americans resided in, or were adjacent to, the "exhausted majority." These people, however, "have no narrative," as David Brooks wrote at the time. "They have no coherent philosophic worldview to organize their thinking and compel action." Lacking a narrative might seem like a very postmodern problem, but in a postmodern elite culture, postmodern problems are real problems. It's worth noting that red vs. blue America didn't emerge ex nihilo. The 1990s were a time when the economy and government seemed to be working, at home and abroad. As a result, elites leaned into the narcissism of small differences to gain political and cultural advantage. They remain obsessed with competing, often apocalyptic, narratives. That leaves out most Americans. The gladiatorial combatants of cable news, editorial pages and academia, and their superfan spectators, can afford these fights. Members of the exhausted majority are more interested in mere competence. I think that's the hidden unity elites are missing. This is why we keep throwing incumbent parties out of power: They get elected promising competence but get derailed -- or seduced -- by fan service to, or trolling of, the elites who dominate the national conversation. There's a difference between competence and expertise. One of the most profound political changes in recent years has been the separation of notions of credentialed expertise from real-world competence. This isn't a new theme in American life, but the pandemic and the lurch toward identity politics amplified distrust of experts in unprecedented ways. This is a particular problem for the left because it is far more invested in credentialism than the right. Indeed, some progressives are suddenly realizing they invested too much in the authority of experts and too little in the ability of experts to provide what people want from government, such as affordable housing, decent education and low crime. The New York Times' Ezra Klein says he's tired of defending the authority of government institutions. Rather, "I want them to work." One of the reasons progressives find Trump so offensive is his absolute inability to speak the language of expertise -- which is full of coded elite shibboleths. But Trump veritably shouts the language of competence. I don't mean he is actually competent at governing. But he is effectively blunt about calling leaders, experts and elites -- of both parties -- stupid, ineffective, weak and incompetent. He lost in 2020 because voters didn't believe he was actually good at governing. He won in 2024 because the exhausted majority concluded the Biden administration was bad at it. Nostalgia for the low-inflation pre-pandemic economy was enough to convince voters that Trumpian drama is the tolerable price to pay for a good economy. About 3 out of 4 Americans who experienced "severe hardship" because of inflation voted for Trump. The genius of Trump's most effective ad -- "Kamala is for they/them, President Trump is for you" -- was that it was simultaneously culture-war red meat and an argument that Harris was more concerned about boutique elite concerns than everyday ones. If Trump can actually deliver competent government, he could make the Republican Party the majority party for a generation. For myriad reasons, that's an if so big it's visible from space. But the opportunity is there -- and has been there all along. Goldberg is editor-in-chief of The Dispatch: thedispatch.com . Get opinion pieces, letters and editorials sent directly to your inbox weekly!
Central Connecticut's defense makes 7 interceptions to earn NEC's bid to FCS playoffs
Carson Beck completed 20 of 31 passes for 297 yards and four touchdowns as No. 10 Georgia pummeled UMass 59-21 on Saturday in Athens, Ga. Nate Frazier ran for career highs of 136 yards and three touchdowns, while Arian Smith caught three passes for 110 yards and a score as the Bulldogs (9-2) won their second straight game and 30th straight at home, dating back to 2019. AJ Hairston completed 7 of 16 passes for 121 yards and a score for the Minutemen (2-9), who dropped their third straight. Jalen John ran for 107 yards and a score and Jakobie Keeney-James caught three passes for 101 yards and a touchdown. Peyton Woodring kicked a 53-yard field goal to extend Georgia's lead to 31-14 on the first drive of the third quarter. But UMass wasted little time responding, as Hairston hit Keeney-James for a 75-yard touchdown to get the deficit down to 10. Georgia then finished its sixth straight drive with a score, as Frazier's 9-yard run up the middle gave the Bulldogs a 38-21 lead at the 8:44 mark of the third quarter. After UMass punted, Georgia played add-on in its next possession, with Frazier scoring from 15 yards out with 1:39 left in the third to lead 45-21. Frazier stamped his career day with his third touchdown run, a 2-yarder with 6:33 left, before Georgia capped the scoring with Chris Cole's 28-yard fumble return with 3:28 remaining. UMass took the game's opening drive 75 yards down the field -- aided by Ahmad Haston's 38-yard run -- and scored on CJ Hester's 1-yard run with 9:15 left. Georgia answered on its ensuing drive, as Beck's 17-yard passing touchdown to Oscar Delp tied the game at the 5:05 mark of the first quarter. Following a short punt by UMass, Beck connected with Smith for 49 yards, and a roughing-the-passer penalty put the ball at Minutemen's 14-yard line. Facing a fourth-and-4 from the 8-yard line, Beck found Cash Jones for a touchdown to take a 14-7 lead with 10:30 left in the second quarter. On UMass' next play from scrimmage, Raylen Wilson recovered John's fumble on the Minutemen's 28-yard line. Three plays later, Beck connected with Dominic Lovett for a 15-yard touchdown with 8:56 remaining. UMass then scored after a 14-play, 75-yard drive, finished off with John's 3-yard rushing score with 1:55 left in the first half. Georgia answered quickly, as Beck's 20-yard pass to Cole Speer set up a 34-yard touchdown pass to Smith with 43 seconds remaining, giving the Bulldogs a 28-14 halftime lead. --Field Level Media