Headline News from The Associated Press
AP Headline News - Jul 12 2024 11:00 (EDT)
A.P. News. Good morning. I'm Ed Donohue. One day after his solo news conference at the NATO summit, President Biden is facing a growing number of Democrats who want him to step out of the race. The A.P. Sagar McGonney reports the president met with the House's top Democrat. After days of what he calls candid discussions among Democrats, Akim Jeffery says he met with the president last night and directly expressed the full range of perspectives and conclusions about the path forward. More than a dozen House Democrats have publicly urged the president to end his run, though he says that will not happen. Long time ally, South Carolina Congressman Jim Clyburn says President Biden is one of the best minds he's ever been around. I would hope that we will focus on the substance of this man, rather than these, sometimes the misspoken words and phrases, and how he has run this country. Clyburn was on NBC's Today Show. St. Anselm's political science professor Chris Gell the area in New Hampshire says President Biden is in a tough spot. Perfectly fine is not quite good enough. And so I think, you know, he's Democrats have created this sort of no-win scenario for themselves. The president travels to battleground state Michigan today. New numbers from the labor department show inflation pressures remain. Hostile prices rose by a larger than expected 2.6 percent last month compared to last year. That's not good news for inflation watchers. The increase is the sharpest year-over-year acceleration since March of 2023. The wholesale figures follow the government's report Thursday that consumer inflation cooled in June for a third straight month. So as a whole, this week's price figures, along with other recent data, still suggest it continued slowed down in the inflation that first gripped the nation three years ago. I'm Shelley Adler. This is AP News. I'm Seth Zutel, and this is Markets in a Minute. Stocks are rising on Wall Street following some mixed signals on bank profits and inflation. Yes, and P500 was up six-tenths percent in the first hour of trading Friday. The benchmark index is on track to close out its fifth-winning week in the last six. The Dow rose 199 points. That's about half a percent. Then as that composite was six-tenths percent higher, small company stocks outpaced the rest of the market. Wells Fargo sank seven percent after the San Francisco bank set a closely-watched measure of profitability fell from a year ago. Treasury yields wavered in the bond market after the latest update on inflation. The government said prices rose more for wholesalers last month and economists had expected. Seth Zutel, New York, AT&T says the data of nearly all of its customers was downloaded to a third-party platform in a 2022 security breach. AT&T said it currently doesn't believe the data is publicly available. I'm Ed Donahue, AP News. How dangerous is it to unwrap a burger at 40 miles per hour? More so than you think. In a little over two seconds, your car can travel slightly more than 117 feet, which is the same length as 20 bicycles. Anything that distracts you while driving is dangerous. That's why driving while texting can be deadly, too. So put it down. It can wait. Don't drive distracted. Shift into safe. A message from the Colorado Department of Transportation. What's next? At Moss Adams, that question inspires us to help people and their businesses strategically define and claim their future. As one of America's leading, accounting, consulting, and wealth management firms, our collaborative approach creates solutions for your unique business needs. We leverage industry-focused insights with the collective technical resources of our firm to elevate your performance, uncover opportunity, and move Move upward at MossAtoms.com.