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Stock market today: Wall Street falls and takes a step back after its big rally

Published Mon, 13 Jan 2025 11:14:17 GMT

NEW YORK (AP) — Stocks are falling Tuesday in Wall Street’s first trading after a five-week rally carried it to its highest level since the spring of last year.The S&P 500 was 0.7% lower in midday trading. The Dow Jones Industrial Average was down 306 points, or 0.9%, at 33,993, as of 11:30 a.m. Eastern time, while the Nasdaq composite was 0.6% lower.The U.S. stock market is taking a step back following many steps forward on hopes the economy can avoid a recession and inflation is easing enough for the Federal Reserve to stop raising interest rates soon. A frenzy around artificial intelligence has also vaulted a select group of tech stocks to huge gains.Those hopes are battling against worries that sticky inflation will force the Fed to keep interest rates higher for longer, which could grind down the economy. With some of the easiest improvements in year-over-year inflation soon to be lapped, a tougher road may be ahead for both the economy and financial markets.“Leaning on the...

Actor Jonathan Majors domestic violence trial scheduled for Aug. 3

Published Mon, 13 Jan 2025 11:14:17 GMT

NEW YORK (AP) — Actor Jonathan Majors’ domestic violence case will go to trial Aug. 3, a Manhattan judge said Tuesday, casting him in a real-life courtroom drama as his idled Hollywood career hangs in the balance.Judge Rachel Pauley wished Majors’ “best of luck” as she scheduled his trial. “Yes, ma’am,” Majors said, standing with his lawyers in front of Pauley’s bench in Manhattan’s domestic violence court.Majors, 33, is accused of twisting a woman’s arm, striking her head and shoving her into a vehicle in New York City in March. He is charged with several misdemeanors, including assault, and could be sentenced to up to a year in jail if convicted. His lawyer says he’s innocent.Tuesday’s hearing was his first time in court since just after his March 25 arrest in Manhattan’s Chelsea neighborhood. He appeared by video at a brief hearing in the case last month where prosecutors announced they had revised the assault charge to reflect the perspective of Majors’ accuser...

S&P/TSX composite down nearly 200 points, U.S. stock markets also fall

Published Mon, 13 Jan 2025 11:14:17 GMT

TORONTO — Canada’s main stock index was down nearly 200 points in late-morning trading as losses in the energy and base metal sectors helped lead the decline, while U.S. stock markets also tumbled lower.The S&P/TSX composite index was down 179.24 points at 19,754.97.In New York, where markets were closed Monday for the Juneteenth federal holiday, the Dow Jones industrial average was down 315.83 points at 33,983.29. The S&P 500 index was down 34.49 points at 4,375.10, while the Nasdaq composite was down 96.17 points at 13,593.40.The Canadian dollar traded for 75.44 cents US compared with 75.72 cents US on Monday.The August crude contract was down US$1.45 from Friday at US$70.48 per barrel and the July natural gas contract was down 10 cents from Friday at US$2.53 per mmBTU.The August gold contract was down US$25.40 from Friday to trade for US$1,945.80 an ounce and the July copper contract was down a penny from Friday at US$3.88 a pound.This report by The Canadian Press w...

Rapper Quando Rondo jailed on drug, gang charges in Georgia

Published Mon, 13 Jan 2025 11:14:17 GMT

SAVANNAH, Ga. (AP) — The rapper Quando Rondo has been jailed after being indicted on drug and gang charges in his hometown of Savannah.The 24-year-old rapper, whose given name is Tyquian Terrel Bowman, was behind bars in the Chatham County jail Tuesday. According to court records, he has a bond hearing scheduled Friday.Bowman and 18 others were indicted by a grand jury Wednesday. The indictment charged Bowman with four counts, including being a manager of an illegal street gang known as “Rollin’ 60’s.” Other charges say Bowman conspired with others to distribute marijuana and to buy pills of the opioid hydrocodone. Bowman’s attorney, Joshua Pine, declined to make an immediate comment when reached by phone Tuesday.As Quando Rondo, the rapper’s singles “I Remember” and “ABG” led to a deal with Atlantic Records, which released his debut album, “QPac,” in 2020. His follow-up album, “Recovery,” came out in March.The Associated Press

Man, 64, charged with 1st-degree murder in Etobicoke homicide

Published Mon, 13 Jan 2025 11:14:17 GMT

Toronto police have arrested and charged a 64-year-old man with first-degree murder in a fatal shooting in Etobicoke on Monday.Authorities were called to Dundas Street West and Avonhurst Road in the Islington area at around 7 p.m. for reports of a shooting.Police located a victim who was later pronounced dead at the scene.On Tuesday, the victim was identified as 55-year-old Mohamed Said Mohamed.Abdiaziz Abdi, 64, of Toronto, was arrested and charged with first-degree murder.Investigators have not said if the suspect and victim knew each other.The accused was expected to make a virtual court appearance on Tuesday at 10 a.m.

Man found dead in Lake Michigan: police

Published Mon, 13 Jan 2025 11:14:17 GMT

CHICAGO — The body of a man was recovered from Lake Michigan Tuesday morning.Police said officers responded to a call of a person in the water around 5:50 a.m. in the 1000 block of West Pratt.First responders pulled a man, believed to be 60-65 years old, from the water. He was pronounced dead on the scene. 3 teens among 75 shot across Chicago over holiday weekend The man's identity as not yet been released.According to police, detectives will conduct a death investigation pending autopsy results.

George Frazier, pitcher on 1984 Cubs, dies at 68

Published Mon, 13 Jan 2025 11:14:17 GMT

CHICAGO — A former Cubs pitcher, who was a part of one of the club's most celebrated teams and involved in a major trade that season, is being mourned throughout Major League Baseball on Tuesday.George Frazier, who pitched for the Cubs from 1984-1986, has died at the age of 68, which was announced by the Colorado Rockies on Monday evening. Frazier played with five teams in the MLB career, spending parts of three seasons with the Cubs, arriving in Chicago in one of the biggest deals in franchise history. On June 13, 1984, Frazier was traded along with starter Rick Sutcliffe and catcher Ron Hassey to Cleveland in exchange for Joe Carter, Mel Hall, Don Schulze, and Darryl Banks. Sutcliffe would go on to be one of the faces for the Cubs over the majority of the next decade, and he along with Frazier helped the team make history the rest of that season.Sutcliffe went 16-1 with a 2.69 ERA to win the National League Cy Young Award, proving to be the catalyst in the Cubs' Eastern Division c...

Meet the athletes representing Texas in the 2023 Special Olympics World Games

Published Mon, 13 Jan 2025 11:14:17 GMT

Editor's note: The above video shows KXAN Live's morning headlines for Tuesday, June 20, 2023. TEXAS (KXAN) — The Special Olympics World Games 2023 officially started Sunday, and Texas has a handful of athletes in the competition. There are six Texans at the games in Berlin representing the Lone Star State. Two are head coaches, one is a Unified partner and the other three are athletes competing in the games. Tyler Dodson, DesotoTyler Dodson, of Desoto, will compete in sailing this year. He started competing in the Special Olympics when he was in fifth grade in athletics and bowling, his bio said. In high school, he started participating in kayaking, sailing, stand-up paddleboarding and swimming. In 2019, Dodson competed in sailing at the Special Olympics World Games in Abu Dhabi, where he won silver. In 2018, he was selected to represent Texas in the Special Olympics USA Games, where he competed in stand-up paddleboard, winning gold. That same year, his high school kayaking team pl...

LIVE: Paxton impeachment attorneys wrestle over trial rules ahead of Senate decision

Published Mon, 13 Jan 2025 11:14:17 GMT

AUSTIN (Nexstar) — On Tuesday, a Texas Senate panel is expected to present its proposed rules for how the upcoming impeachment trial of suspended Attorney General Ken Paxton will work.The anticipated release of recommendations from the seven-member Senate committee to the entire Senate is scheduled for Tuesday. The panel has broad power in forming how the Senate trial might operate, which could significantly impact Paxton's prospects of keeping his position in an impending trial, which Lt. Governor Dan Patrick vowed to begin by Aug. 28 at the latest. BACKGROUND: Texas House votes to impeach Attorney General Ken Paxton While state senators — who will serve as a jury — will vote whether or not to convict or acquit Paxton, no aspect of the trial will include criminal charges. While attorneys have often compared the impeachment process to criminal trials in the judicial system, Texas lawmakers are only weighing Paxton's fitness for office. A Senate vote to impeach would mean immediate...

Green lightning spotted on Jupiter's north pole

Published Mon, 13 Jan 2025 11:14:17 GMT

SPACE (KXAN) — New images captured by NASA's Juno spacecraft are revealing details about storms on Jupiter. The photo, captured on Dec. 30, 2020, shows a flash of green lightning within a storm on the gas giant.According to NASA, lightning on the largest planet in our solar system occurs in clouds "containing an ammonia-water solution." Ammonia, when burned in oxygen, has a "pale yellowish-green flame," likely giving the bolt of lightning its color.A photo taken of Jupiter's north pole reveals a green lightning strike. (Credit: Image data: NASA/JPL-Caltech/SwRI/MSSS Image processing by Kevin M. Gill © CC BY )NASA said in a press release that lightning occurs more commonly near the poles on Jupiter, as opposed to on Earth where lightning is more common near the equator.The photo was captured on the Juno spacecraft's 31st flyby of the planet. As many pictures of space are taken using special cameras, they must be processed before we can properly see them. Citizen scientist Kevin M. Gi...