Headline News from The Associated Press
AP Headline News - Jun 12 2024 11:00 (EDT)
AP News, Good morning. I'm Ed Donny in Beirut. Secretary of State Anthony Blinken says Hamas wants to make some changes to the ceasefire proposal with Israel. We discussed those changes last night with Egyptian colleagues and today with the Prime Minister. Some of the changes are workable. Some are not. It's a sign of frustration after previous moments of optimism have been repeatedly dashed by the differences between the two sides over the deal. The ceasefire proposal has global support but has not been fully embraced by Israel or Hamas. Inflation last month eased for a second straight month. The hopeful sign that a pickup in prices that occurred early this year may have passed. The government says consumer prices, excluding volatile food and energy costs. The closely watched core index rose 0.2% from April to May. That was down from 0.3% the previous month and was the smallest increase since October. Overall inflation also slowed last month with consumer prices unchanged from April to May, in part because of sharp falls in the cost of gas, airfares and new cars. I'm Julie Walker. Federal Reserve officials are expected to announce later with inflation sticking around at a level above their 2% target. They're downgrading their outlook for interest rate cuts. The LA Clippers say basketball Hall of Famer Jerry West has died. He was 86. West Silhouette is considered to be the basis for the NBA logo. Never ceases to maze me the places you can go in this world chasing a bouncing ball. Jerry West was a three time Hall of Famer as a player, as an executive and again as a member of the 1960 US Olympic team. The greatest thrill in my life was to win a gold medal, not to win an NBA championship. As a player Jerry West LA Lakers won the NBA title in 1972 as the general manager West had eight championship teams with the Lakers. This is AP News. I'm Seth Sootel and this is Markets in a Minute. Stocks are jumping on Wall Street amid a worldwide rally following a surprisingly encouraging update on inflation. The S&P 500 jumped 1.2% in the first hour of trading Wednesday. The benchmark indexes on track to add to the record high as said a day earlier. The Dow rose 196 points at about half a percent and as that composite jumped 1.8%. Treasury holds tumbled in the bond market after the government said inflation at the consumer level unexpectedly slowed last month. Markets rallied broadly after the data raised expectations for coming cuts to interest rates. More investors now expect the first cut to rates could come as soon as September. The yield on the 10-year treasury note fell to 4.28% Seth Sootel, New York authorities in Athens announced the closure of the Acropolis for five hours due to heatwave temperatures that also shut down many schools. The high temperature in Athens today is expected to reach 102 Fahrenheit. I'm Ed Donahue, AP News. After countless steps and more than a few miles, her dog drives you forward one last time to make that final climb. And as the rising sun peeks out from the horizon, you know, incredible happens here because it starts here with a fuel that makes it all possible. Proplan Sport. Discover advanced nutrition made to fuel-strengthened stamina and active dogs like yours at ProplanSport.com. Hey, have you ever used cheapo air? For years and I really like it. With cheapo air you can book online, use their app or even over the phone. They've got great prices on over 500 airlines and millions of accommodations. They're my go-to for travel planning. And if you join their Club Miles program, you can earn points to save on the cost of your travel. Book on the app and you get double points. Sounds like it's time I tried cheapo air. Call cheapo air at 855-247-3279 or visit cheapoair.com/podcast. If you're a small business owner, upswell marketing would like to remind you that when customers choose your business, they're really choosing you. So focus on super serving your existing customers and let upswell handle the pipeline generation of new leads. Upswell specializes in building and managing custom direct response campaigns and is now offering a no-obligation free assessment of your current marketing strategies. New customers also receive 15% off their first order. For more information, visit upswellmarketing.com. American Giant makes great clothing, sweatshirts, jeans and more right here in the US. Visit american-giant.com and get 20% off your first order with Code Staple 20. That's 20% off your first order at american-giant.com Code Staple 20.