Headline News from The Associated Press
AP Headline News - Jun 28 2024 11:00 (EDT)
AP News. Good morning. I'm Ed Donahue. The Iowa Supreme Court ruled the state's strict new abortion law is legal. A temporary block is being dissolved. It means abortions are banned in Iowa after about six weeks of pregnancy. After stopping by a waffle house in Atlanta after his debate with Donald Trump, President Biden was asked how he did. I think he did well. The president seemed to lose his train of thought at times. Donald Trump made repeated false claims. It's hard to debate a lot. New York Times is going out to be a delight. 26 times bigger lines. Saint Anselm's political science professor Chris Galdieri says the debate added concerns about the president's age. He looked frail. He's noticeably older than he was when he was elected. I think all of those things, you know, the Biden campaign has to figure out a way to deal with that. Shares of Trump media, owner of Truth Social, jumped following the debate. A measure of prices closely tracked by the Federal Reserve show inflation pressures continue to ease. The Commerce Department report showed that consumer prices were flat from April to May. Compared to last year, prices rose 2.6 percent last month. That's slightly less than in April. If you leave out volatile food and energy prices, so-called core inflation rose just 0.1 percent from April to May and 2.6 percent from last year. The latest figures will likely be welcomed by the Fed's policymakers, who have said they need to feel confident that inflation is slowing sustainably toward their 2 percent target before they start cutting interest rates. I'm Shelley Adler. The Supreme Court ruled cities can enforce bans on homeless people sleeping outdoors in West Coast areas where shelter space is lacking. And the High Court also appended a 40-year-old decision that made it easier for the federal government to regulate the environment, public health, workplace safety, and consumer protections. This is AP News. I'm Seth Zutel, and this is Markets in a Minute. Stocks are edging higher in early training on Wall Street and heading for their fourth straight weekly gain in a row. Treasury yields pulled back in the bond market after a measure of prices that's closely tracked by the Federal Reserve suggested that inflation is continuing to ease. That augurs well for the Fed to deliver interest rate cuts. The S&P 500 was up 3-10 percent in early trading Friday. The NASDAQ composite rose 2-10 percent. The Dow added 177 points. That's about 4-10 percent. Nike dropped 17 percent after reporting weaker than expected sales for its latest quarter. The yield on the 10-year Treasury note fell to 4.27 percent. Seth Zutel, New York 7 members of a youth group hiking in Utah were transported to hospitals after lightning struck the ground near them. Two of them had serious symptoms and were flown by helicopter to a local hospital. None of the injuries in Utah were considered life-threatening. Approximately 50 kids were in the youth group. I'm Ed Donahue.