Headline News from The Associated Press
AP Headline News - Jul 09 2024 11:00 (EDT)
AP News. Good morning, I'm Dave Donny here on Capitol Hill Fed Chair Jerome Powell is telling the Senate banking committee a slowing job market signals interest rate cuts may be nearing the most recent inflation readings. However, have shown some modest further progress committee chair Sherrod Brown is worried about still high inflation. Americans are frustrated. No, actually Americans are pissed off. They have fewer and fewer choices. Those choices cost more and more South Carolina Republican Tim Scott says these economic struggles can be traced to the White House. They're looking for someone to blame, except for Bidenflation. The devastation of Joe Biden's economic policy continues to impact everyday Americans. Powell says the Fed has made considerable progress toward its goal of defeating the worst inflation spike in four decades. The remnants of barrel, the former hurricane are moving quickly over land. Brian Jackson is at the National Hurricane Center. Barrels currently a tropical depression over Arkansas. It will continue moving northeast today up over Missouri, near near South of St. Louis, then up through the Midwest tonight, tomorrow, and getting into New England tomorrow night. The storm killed several people in Texas and millions of people there are without electricity as dangerous heat threatens the region. As NATO leaders meet in Washington, Indian Prime Minister Narendra Modi is meeting with Russian President Vladimir Putin and Moscow. Modi has avoided condemning Russia over the Ukraine war while emphasizing a peaceful settlement. Disgraced movie mogul Harvey Weinstein has arrived at a New York courtroom ahead of his schedule retrial on rape and sexual assault charges. Jury selection is expected to start in New Mexico in the involuntary manslaughter trial of Alec Baldwin for the shooting on a movie set of a cinematographer, a revolver he was pointing at cinematographer, Helena Hutchins, went off. This is AP news. I'm Seth Toutel and this is Markets in a Minute. Stocks wobbled on Wall Street ahead of Federal Reserve Chair Jerome Powell's testimony before the Senate Banking Committee. S&P 500 was up to 10% in morning trading Tuesday. The NASDAQ composite was up for 10%. The Dow Jones Industrial Average slipped 138 points. It's about 4% consumer goods company Helen of Troy, which makes Osprey and Oxo products sank 30% after posting first quarter results that fell far short of forecasts. Treasury yields rose slightly in the bond market. Yield on the 10-year Treasury note edged up to 4.29%. Seth Toutel, New York. Lawyers for retired NFL quarterback Brett Favre will ask a federal appeals court to revive a defamation lawsuit. Favre filed against fellow pro football Hall of Famer, former tight-end Shannon Sharp, amid a backdrop of a Mississippi welfare scandal. Sharp criticized Favre's connection to the welfare miss spending case. I'm Ed Donahue, AP News. An official message from Medicare. A new law is helping me save more money on prescription drug costs. You may be able to save too. With Medicare's extra help program, my premium is zero and my out-of-pocket costs are low. Who should apply? Single people making less than $23,000 a year, or married couples who make less than $31,000 a year. Even if you don't think you qualify, it pays to find out. Go to ssa.gov/extrahelp. Paid for by the U.S. Department of Health and Human Services. 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 focus insights with the collective technical resources of our firm to elevate your performance. Uncover opportunity and move upward at Moss Adams.com. 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.