Headline News from The Associated Press
AP Headline News - Jul 05 2024 11:00 (EDT)
AP News. Good morning. I'm Ed Donohue. The Kansas Supreme Court struck down state laws regulating abortion providers more strictly than other health care providers. The ruling bans a common second trimester procedure reaffirming its stance. The Kansas State Constitution protects abortion access. The Labor Department's jobs report for June was solid. Do you remember that soft landing the Federal Reserve was trying to accomplish? Well Gus Fosche, who's the chief economist at PNC Financial Services Group says the June numbers show they are getting there. This is close to what the Fed wants to see. I think we have a good solid economy with slowing inflation and that's what everybody wants. But it's still too soon for the Fed to start cutting interest rates. We did get some better inflation numbers for May, but they want to see a few months of better inflation numbers. That being said, I expect we will get those and we will see the Fed start to cut the Fed funds rate towards the end of this year with more than one interest rate cut in 2024. The unemployment rate did tick up from 4% to a still very low 4.1%. I'm Shelley Adler. Speaking of jobs, Britain's Keir Starmer has a new job, Prime Minister. With respect and humility, I invite you all to join this government of service in the mission of national renewal. Starmer led the Labor Party to a landslide election victory and is the country's 58th Prime Minister. The Wisconsin Supreme Court is allowing ballot drop boxes for the fall election in the presidential swing state, overturning a 2020 ruling. Category 2 hurricane barrel has reached land on Mexico's Yucatan Peninsula. At South Padre Island in Texas, two people were taken to the hospital with shark bites, at least one of them severe. Fire Chief Jim Pig calls them investigative bites. Once they find out it's out of fish, they let go, but the damage has been done. This is AP News. I'm Damian Troyisi and this is Markets in a Minute. Stocks are sticking near their records on Wall Street Friday. The S&P 500 rose 0.1%. The Dow Jones Industrial Average fell 0.1% and the Nasdaq Composite rose 0.3%. The muted action for stocks follows a jobs report that showed a slowdown in hiring and contained nuggets of data for both optimists and pessimists. Treasury yields sank following the report, which reinforced belief on Wall Street that the U.S. economy's growth is slowing and that the Federal Reserve will cut interest rates later this year. Bitcoin tumbled again and its value against the dollar is back to where it was in February. Damian Troyisi, New York. A tornado swept through China's eastern province of Shang Dong, killing one person and injuring close to 80 others. Video reports show uprooted trees and torn off store signs. State media reports tornadoes are usually reported in southern and coastal provinces in China. I'm Ed Donahue. AP News. An official message from Medicare. A new law is helping me save more money on prescription drug costs. Maybe you can save too. With Medicare's extra help program, my premium is 0 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. No matter what car you drive, we know that new tires can be an unexpected expense. Don't wait any longer because your locally owned big-o tires has the perfect tires for you. They'll get you back up and running fast, with no credit needed financing made easy. They work with multiple lending partners, so the financing is tailored to you. They have all the name or antires you trust for any vehicle on any road condition. Get into your locally owned big-o tires, the team you trust.