Headline News from The Associated Press
AP Headline News - Feb 29 2024 11:00 (EST)
[MUSIC] AP News. >> Good morning, I'm Ed Donny. >> Snow has fallen, temperatures have dropped, and wind gust of ease in parts of Texas struggling to contain a massive wildfire. Now the largest in state history. The AP Sean Murphy reports in Canadian Texas, there was a lot of charred landscape. >> There were pockets of where the fire skipped over. Frankly, the town itself was pretty well intact. The smell, the visibility was hazy. But as I started to get outside the town, I just came across just piles of rubble where clearly homes had been. >> Containment of the Texas fire is just 3% of Blizzard warning is up in the Sierra Nevada. Higher elevations in California and Nevada could get as much as 10 feet of snow by this weekend. The Federal Reserve's preferred inflation gauge picked up last month. Consumer prices rose from December to January. Defense Secretary Lloyd Austin is on Capitol Hill explaining his failure to quickly notify President Biden and other senior leaders about his hospitalization last month for complications from prostate cancer surgery. >> We did not handle this right, and I did not handle it right. As you know, I've apologized, including directly to the president, and I take full responsibility. >> Indiana Republican Jim Banks asked Austin if he goes days without talking to the president. >> That can happen, it depends on whether or not the president's on travel, if I'm on travel. There are times when we do go days without direct communication. >> So the big issue for me here is either the president is that aloof or you are irrelevant. >> Texas is John Cornyn, says he plans to run to be the next Senate Republican leader. Mitch McConnell plans to step down from that leadership post in November. Both President Biden and former President Donald Trump plan to be in Texas today. Hundreds of miles apart, they will be along the border with Mexico. This is AP News. >> I'm Seth Soutel, and this is Market It's In A Minute. Wall Street's latest winning month is heading towards a solid finish as stocks tick back up toward record heights. The S&P 500 was half a percent higher early Wednesday. The benchmark indexes on track to surpass the record high it's set last week. The Nasdaq composite was up eight tenths percent. The tech heavy index was flirting with its record high set back in 2021. The Dow slipped 24 points, it's about one tenth of a percent. Hormel Foods, which makes Skippy peanut butter and many other products, jumped 12 percent after reporting results that came in stronger than expected. The bond market was relatively quiet after a closely watched inflation report showed the prices across the country rose pretty much exactly as expected last month. The data kept intact hopes that the Federal Reserve will begin cutting interest rates in June. Seth Soutel, New York. >> Owners of Ford Electric Vehicles can now use much of Tesla's charging network in the US and Canada. They'll need to get an adapter that Ford will provide for free. I'm Ed Donahue, AP News. >> Empower is here to help answer your financial questions and empower what's next. Because if you're like most people, you've probably had your fair share of stressors. Like will you be able to afford a third kid? Will you be able to do everything you want during retirement? And what if you outlive your savings? Join 18 million Americans and take control of your financial future. Start today at Empower.com. >> When you fly Southwest, we always give you our mile high heart. That's why we're giving Denver more flights than ever before. Not only do you get our low fares, but you'll always get two free bags and never pay change or cancel fees. Because we mile high heart you, Denver. But today at SouthWest.com. 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