Headline News from The Associated Press
AP Headline News - May 30 2024 11:00 (EDT)
AP News. Good morning. I'm Ed Donny. This is day two of jury deliberations in the Hush Money trial of former President Donald Trump. We'll be here. Looks like a long time. Jurors in New York are again hearing some of the judge's instructions. Trump faces 34 criminal counts of falsifying business records. The Supreme Court is clearing the way for a lawsuit by the National Rifle Association against former New York Department of Financial Services Superintendent Maria Vullo accusing her of violating its free speech rights. The government says a revision shows the economy expanded at a sluggish pace in the first quarter. The new estimate of the gross domestic product knocked a third of a percentage point off its previous estimate. It's a sharp decline from 3.4 percent in October to December. The pullback was due mostly to a surge in imports and a reduction in business inventories. Consumer spending rose at a 2 percent annual rate that's down from 2.5 percent in the first estimate, with more spending on services but declines in categories like appliances and furniture. Economists have said they're not overly worried about the slippage, but there are signs suggesting the economy may be slowing, pinched by inflation and higher interest rates. More Americans are falling behind on their credit card bills, and more companies, including Target and McDonald's, are highlighting price cuts to try to attract financially squeezed consumers. I'm Jennifer King. In Prague, Secretary of State, Anthony Blinken says Russia is trying to sow discord in democracies, with misinformation. After hinting, the Biden administration may soon allow Ukraine to use American-supplied munitions to strike inside Russia. In every step along the way, we've adapted and adjusted as necessary. And so that's exactly what we'll do going forward. We're always listening, we're always learning, and we're always making determinations about what's necessary to make sure that Ukraine can effectively continue to defend itself. This broke up a pro-Palestinian encampment at Wayne State University in Detroit today. Eight people were arrested. This is AP News. I'm Seth Zutel, and this is Markets in a Minute. Stocks are drifting lower on Wall Street, following mixed-profit reports from big companies, and signals that the economy may be cooling. Yes, in P500 was down three-tenths percent in the first hour of trading Thursday. The benchmark index has been mostly pulling back since setting a record high last week. The Dow lost 322 points, it's about eight-tenths percent, and as that composite was three-tenths percent lower. Small company stocks mostly rose. Salesforce was the main reason for the Dow's sharp drop. The business software company fell 18 percent after reporting weaker revenue for the latest quarter than analysts had expected. Treasury yields ease in the bond market following weaker than expected reports on the job market and the overall economy. The yield on the 10-year treasury note fell to 4.57 percent. Hey Lopez, we'll be cut by the struggling New York Mets after the reliever threw his glove into the stands following his ejection last night at City Field. I'm Ed Donahue, AP News. At Arizona State University, we offer a wide variety of degree programs online to match all kinds of interests and career aspirations. Programs that are taught by the same notable faculty who teach on campus and designed using innovative technology to improve learning outcomes and equip you for post-graduation success. That's why 87 percent of ASU online graduates indicated they were promoted at work or received an increase in salary after earning their degree. Find your program at asuonline.asu.edu. When you need to work quickly and confidently across different apps and platforms, consistent quality communication is key. 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