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Dow soars over 500 points as new data shows inflation continues to cool

Published Fri, 07 Feb 2025 15:50:17 GMT

New York (CNN) — Stocks climbed on Tuesday as Wall Street cheered the inflation cooldown in the latest economic data for October.The Dow rose 518 points, or 1.5%. The S&P 500 gained 2%, on pace for its best day since January. The Nasdaq Composite added 2.3%, on track for its best day since April.The Consumer Price Index rose 3.2% for the 12 months ended in October. That’s down from 3.7% the prior month, according to fresh data from the Bureau of Labor Statistics. Economists had predicted a 0.1% monthly increase and a 3.3% annual gain, according to Refinitiv estimates.Core CPI, which excludes the volatile food and energy categories, rose 0.2% on a month-over-month basis. That brings the annual increase to 4%, the lowest annual increase since September 2021.Treasury yields slipped following the report. The yield on the 10-year Treasury note was last trading at 4.46%.The October Producer Price index, retail sales and building permits and housing starts data are ...

Boston Bows Out Of Running For Fossil Fuel-Free Program

Published Fri, 07 Feb 2025 15:50:17 GMT

Northampton or Somerville will take the final spot in a pilot program allowing a limited number of cities and towns to restrict fossil fuels in construction after a pair of other cities — including the state’s capital — opted to drop out of the running.As many as four communities had once been in the mix to fill a single open slot in the program, but only Northampton and Somerville submitted official applications by the Friday deadline, according to the state Department of Energy Resources.That means that neither Salem nor Boston will join the 10-municipality pilot program, despite each city previously approving a home rule petition seeking state permission to curb the use of fossil fuels locally.It’s an about-face for Boston Mayor Michelle Wu, who as recently as July 31 said her city was still hoping to join the program and needed state support to achieve Boston’s full climate goals.Wu told the Boston Globe she decided not to submit...

Senate ditches overflow site for migrants, homeless families ahead of Tuesday vote

Published Fri, 07 Feb 2025 15:50:17 GMT

Senate lawmakers plan to take up a spending bill Tuesday that would steer $250 million to help an overburdened shelter system for homeless families and migrants but does not include a provision requiring an overflow site for waitlisted families.The chamber’s budget writing committee released a $2.8 billion supplemental budget Monday that closes out the books on fiscal year 2023, shuttles money to the shelter system, and sets aside land for a soccer stadium in Everett.But it does not feature a House-backed idea that would direct the Healey administration to use $50 million to set up an overflow site for families who are placed on a waitlist for emergency shelter while the system is at capacity.The bill gives the Healey administration “the flexibility it needs to continue managing thousands of families seeking shelter in the state, as the state continues to look to the federal government for help,” a spokesperson for Senate President Karen Spilka said.“The funding allocation reflects ...

Palestinians call for evacuating Gaza’s largest hospital as Israel and Hamas battle just outside

Published Fri, 07 Feb 2025 15:50:17 GMT

By WAFAA SHURAFA and SAMY MAGDY (Associated Press)KHAN YOUNIS, Gaza Strip (AP) — Palestinian authorities on Tuesday called for a cease-fire to evacuate three dozen newborns and other patients trapped inside Gaza’s biggest hospital as Israeli forces battle Hamas in the streets just outside and seize more ground across northern Gaza.For days, the Israeli army has encircled Shifa Hospital, determined to seize the facility it says Hamas hides in, and beneath, to use civilians as shields for its main command base.Hospital staff and Hamas deny the claim. Meanwhile, hundreds of patients, staff and displaced people are trapped inside, with supplies dwindling and without electricity to run incubators and other life-saving equipment. With refrigeration out for days, staff on Tuesday were digging a mass grave in the yard for more than 120 bodies in the morgue, health officials said. Hamas has been designated as a terrorist organization by the United States, Canada and the European Union.Six we...

Cal State trade workers go on one-day strike amid contract negotiations

Published Fri, 07 Feb 2025 15:50:17 GMT

SAN DIEGO — More than 1,000 trade workers at California State University campuses, including CSU San Marcos and San Diego State, walked off the job on Tuesday in a one-day strike amid stalled negotiations over a new contract.Members of Teamsters Local 2010 — the union that represents skilled trade employees like electricians, mechanics and facilities workers at CSU schools — voted to initiate the strike at 22 campuses in October after going nearly nine months without an updated contract."After months of bad faith bargaining, stalled negotiations, and clear violations of state law by the CSU, our members have had enough and are taking to the picket line to strike," Jason Rabinowitz, Secretary-Treasurer of Teamsters Local 2010, said in a release on Nov. 6. "We're ready to demonstrate the strength of our solidarity and to fight for the fair contract we deserve."Lagging salaries and restoring "steps" have long been an issue for CSU workers, with the union arguing that current structures...

Dutch government shelves plans to reduce flights from Amsterdam’s busy Schiphol Airport

Published Fri, 07 Feb 2025 15:50:17 GMT

THE HAGUE, Netherlands (AP) — The Dutch government said Tuesday it has abandoned, for now, plans to rein in flights at Amsterdam’s busy Schiphol Airport following protests from countries including the United States and warnings that the move could breach European law and aviation agreements.The government last year announced plans to reduce the number of flights from 500,000 per year to 460,000 at Schiphol, one of Europe’s busiest aviation hubs.In a letter to lawmakers Minister for Infrastructure and Water Mark Harbers said the plan was being shelved “until further notice” and at least pending a decision by the country’s Supreme Court. The court is considering the government’s appeal against a lower court’s decision in May that blocked plans to reduce the number of flights. The Supreme Court ruling is expected in the second quarter of 2024.Schiphol said in a statement it was “disappointed by the recent developments, as local residents are getting the sh...

Former Arizona Corrections director pleads no contest in armed standoff with officers at his home

Published Fri, 07 Feb 2025 15:50:17 GMT

PHOENIX (AP) — Former Arizona Corrections Director Charles Ryan has pleaded no contest Tuesday to a disorderly conduct charge for an encounter in which police say he fired a gun inside his Tempe home in early 2022 and pointed a firearm at two officers during a three-hour standoff. The maximum sentence Ryan, who retired as corrections director in September 2019, could receive is two years in prison. Ryan’s trial on charges of unlawful discharge of a firearm and disorderly conduct had been scheduled for Nov. 20.Police were called to the house on Jan. 6, 2022, on a report that Ryan had shot himself in the hand. It was later revealed by police that the hand injury was caused by a less-than-lethal projectile shot by police after Ryan pointed a handgun at officers. They say the projectile was found during surgery.The Associated Press

Which vehicles are most often targeted by Ontario car thieves

Published Fri, 07 Feb 2025 15:50:17 GMT

Ontarians who drive a Honda CR-V or Lexus RX Series might want to double-check that the doors are locked.Those vehicle models topped a new list of the most stolen automobiles in Ontario in 2022. The not-for-profit Équité Association released its annual list of the top 10 most stolen vehicles in Canada and its provinces.The Honda CR-V was named as the most stolen model across Canada, topping the national list of the second straight year.All of the top 10 stolen vehicles in Ontario were most often 2019 models or newer. Équité notes criminals often aim to maximize their profits by targeting newer makes.Most stolen vehicles in Ontario in 2022No.Make/ModelMost often stolen model year#of vehicles insured#of theftsTheft frequency1Honda CR-V2020224,3112,6841.2%2Lexus RX Series202057,7531,7073.0%3Dodge RAM 1500 Series2022195,9731,4050.7%4Toyota Highlander202160,3261,3442.2%5Land Rover Range Rover202020,7431,2255.9%6Ford F150 Series2020214,0679010.4%7Jeep Grand Cherokee202147,9817661.6%8Jeep ...

Judge denies initial request to temporarily block North Dakota’s ban on kids’ gender-affirming care

Published Fri, 07 Feb 2025 15:50:17 GMT

BISMARCK, N.D. (AP) — A North Dakota judge has ruled that he won’t immediately block the state’s ban on gender-affirming health care for minors, delivering an early setback to families who want the new law found unconstitutional.District Judge Jackson Lofgren on Monday denied a temporary restraining order the plaintiffs had requested. They’ve also asked for a preliminary injunction that would temporarily block enforcement of the law as their case proceeds. A hearing is set for January for that request.“We’re disappointed in this ruling, but we are confident that when all the evidence has been presented, the court will ultimately find that ending the health care ban permanently is the only just, equitable, and constitutional resolution,” said Brittany Stewart of Gender Justice, the lead attorney for the three families and pediatrician who are suing.Lofgren cited the plaintiffs’ “nearly five-month delay” in filing their complaint, and their argument hinging “up...

S&P/TSX composite up more than 300 points, U.S. stock markets also rally

Published Fri, 07 Feb 2025 15:50:17 GMT

TORONTO — Canada’s main stock index was up more than 300 points in late-morning trading as strength in base metal, financial and utility stocks helped lead a broad-based rally and U.S. stock markets also pushed higher.The S&P/TSX composite index was up 346.99 points at 20,056.14.In New York, the Dow Jones industrial average was up 556.52 points at 34,894.39. The S&P 500 index was up 90.33 points at 4,501.88, while the Nasdaq composite was up 313.92 points at 14,081.66.The Canadian dollar traded for 72.89 cents US compared with 72.36 cents US on Friday.The December crude contract was up US$1.21 at US$79.47 per barrel and the December natural gas contract was down five cents at $3.15 per mmBTU.The December gold contract was up US$18.70 at US$1,968.90 an ounce and the December copper contract was up four cents at US$3.70 a pound.This report by The Canadian Press was first published Nov. 14, 2023.Companies in this story: (TSX:GSPTSE, TSX:CADUSD) The Canadian Press