Headline News from The Associated Press
AP Headline News - May 03 2024 11:00 (EDT)
AP News. I'm Ed Donohue. The Labor Department says 175,000 jobs were added last month, the smallest game since October. The AP Saugur-Magoning reports this may be a sign. High interest rates may be cooling the job market. The strong job market has been one factor in keeping inflation above the Federal Reserve's 2% goal. The Fed and Jerome Powell for now have put off any interest rate cuts until they get more confidence inflation is sustainably easing. Stocks are higher on Wall Street. Testimony resumes in New York and former President Donald Trump's Hush Money trial. Trump was again critical of Judge Juan Mershon. The judge is highly conflicted. He should not be allowed to be the judge of this case. He's trying to make it as salacious as possible by allowing testimony that has nothing to do with the case. He wants to make it an isolationist case, try and hurt Trump. But it's having the opposite effect, I think. The gag order against Trump does not include comments about the judge. Mershon heard from both sides about four more prospective gag order violations, including comments Trump made about the jury. Prosecutors say they're seeking only fines and not jail time. His family says a hostage being held by Hamas has died. Here's the AP's Karen Shamas. 49-year-old Droror was one of about 250 people abducted by Hamas on a deadly attack on southern Israel on October 7th. The day earlier, dozens of people demonstrated outside Israel's military headquarters in Tel Aviv, demanding a deal to release the hostages. Meanwhile, Hamas has said it is sending a delegation to Cairo to continue working on ceasefire negotiations. The talks come as thousands of students across the U.S. held demonstrations against Israel's offensive in Gaza. I'm Karen Shamas. Police moved in to clear a pro-Palestinian encampment at New York University and also at the New School in Greenwich Village. Schools are closed around Houston because of severe weather. A flash flood warning is in effect. This is AP News. I'm Seth Zutel and this is Markets in a Minute. Wall Street opened sharply higher, erasing its losses for the week after the government reported a cool down in hiring last month. For markets that was a welcome sign that the federal reserve's efforts to slow the economy with high interest rates might be making some progress. The S&P 500 rose 1.3% in the first hour of trading Friday. The Dow added 516 points. That's about 1.3%. And as that composite climbed, 1.7%. The U.S. employers added 175,000 jobs last month. That was down sharply from a blockbuster increase in March. Apple jumped almost 7% after announcing a mammoth $110 billion stock buyback program. Treasury yields fell in the bond market. The yield on the 10-year treasury dropped to 4.50% Seth Zutel, New York. Former British Prime Minister Boris Johnson was turned away from a polling station after forgetting to bring ID to vote. I'm Ed Donahue, AP News. When everyone is on the same page, getting things done is easy. Make a bigger impact at work with Grammarly. Grammarly is your secure AI writing partner that enables your team to make their point and move faster. You can even save time by going from spending hours editing drafts to just seconds. Join the 96% of Grammarly users that say it helps them craft more impactful writing. Sign up and download Grammarly for free at Grammarly.com/podcast. That's Grammarly.com/podcast. Easier said, done. Is there anything more satisfying than finding something that perfectly lines up with your taste and checks all the boxes? Like a suit from Indochino. Their suits are made to measure and totally customizable with endless options. Choose the cut, fabric, lining, and more for the suit of your dreams at a surprisingly affordable price. Go to Indochino.com and use code "podcast" to get 10% off any purchase of $3.99 or more. What if I told you that you can support your blood pressure and healthy CoQ10 levels with two chews a day? The new SuperBeats HeartChews advanced is now supercharged with CoQ10. That's like getting CoQ10 for free, our powerful blend of beetroot, grape seed extract, and CoQ10 support your cardiovascular health. Visit radiobeats.com and find out how you can get a free 30-day supply on bundles and save 15% with the promo code DEAL.