Headline News from The Associated Press
AP Headline News - Jul 02 2024 11:00 (EDT)
A key news. Good morning. I'm Ed Donahue. Fed Chair Jerome Powell says inflation is slowing again. He looked at data from April and May. But Powell added more evidence is needed before the Fed would cut interest rates. Despite higher interest rates, the Labor Department reports job openings rose slightly in May. Keeping interest rates high is expected to cool the job market. It's another sign the economy kept growing and employers kept hiring. Amid anxiety over his debate performance, President Biden's campaign is reporting an impressive fundraising haul. Here's the AP soccer McGahn. The campaign and DNC say they raised $264 million in the second quarter, which may help them calm fears within the party after the president shaky showing last week. Some Democrats question whether he can win the race after the debate. But campaign officials insist there has been no talk whatsoever of the president exiting the race. The Trump campaign has yet to announce its quarterly fundraising haul after recently narrowing the Biden campaign's big money advantage. Sager or McGani Washington. Category 5, Hurricane barrel is now back over water in the Caribbean. At least four people have died. Marlon Gibson was in the path of the storm in St. Vincent. The wind was just constant. You could you could hear the galvanized on the roof just having a sort of conversation and and you're really just hoping for the best and all around me. There were houses in the village. Their roofs are flying past. You could see it passing. A hurricane warning is in effect for Jamaica. Defense Secretary Lloyd Austin says the U.S. will spend an additional $2.3 billion for weapons and ammunition for Ukraine. British neo-natal nurse Lucy Lente, who was in prison for killing seven babies, has been convicted of trying to kill another infant. The Supreme Court will weigh in whether regulators were heavy-handed in blocking the marketing of flavored e-cigarette products. This is AP News. I'm Damian Troyisi and this is Markets in a Minute. U.S. stocks are slipping in morning trading Tuesday. The S&P 500 fell 0.3 percent. The Dow Jones industrial average fell 67 points and the Nasdaq deposit dropped 0.4 percent. Treasury yields also fell in the bonds market. Oil prices are climbing and near their highest level since April on expectations for strong demand during the summer and the possibility of damage to oil production because of hurricanes. A government report showed that U.S. job openings rose in May and were hotter than Wall Street expected. Additional reports on the employment market later in the week could also impact forecasts for the timing of interest rate cuts from the Federal Reserve. Damian Troyisi, New York. Marchetta Vondresova became the first defending women's champion at Wimbledon to lose in the first round the next year since 1994, eliminated 6-4-6-2 by Jessica Busas-Monaro at Center Court. I'm Ed Donahue. AP News.