NEW YORK (AP) — U.S. stocks tiptoed to more records amid a mixed Tuesday of trading, tacking a touch more onto what’s already been a stellar year so far. The S&P 500 edged up by 2 points, or less than 0.1%, to set an all-time high for the 55th time this year. It’s climbed in 10 of the last 11 days and is on track for one of its best years since the turn of the millennium. The Dow Jones Industrial Average slipped 76 points, or 0.2%, while the Nasdaq composite added 0.4% to its own record set a day earlier. AT&T rose 4.6% after it boosted its profit forecast for the year. It also announced a $10 billion plan to send cash to its investors by buying back its own stock, while saying it expects to authorize another $10 billion of repurchases in 2027. On the losing end of Wall Street was U.S. Steel, which fell 8%. President-elect Donald Trump reiterated on social media that he would not let Japan’s Nippon Steel take over the iconic Pennsylvania steelmaker. Nippon Steel announced plans last December to buy the Pittsburgh-based steel producer for $14.1 billion in cash, raising concerns about what the transaction could mean for unionized workers, supply chains and U.S. national security. Earlier this year, President Joe Biden also came out against the acquisition. Tesla sank 1.6% after a judge in Delaware reaffirmed a previous ruling that the electric car maker must revoke Elon Musk’s multibillion-dollar pay package. The judge denied a request by attorneys for Musk and Tesla’s corporate directors to vacate her ruling earlier this year requiring the company to rescind the unprecedented pay package. All told, the S&P 500 rose 2.73 points to 6,049.88. The Dow fell 76.47 to 44,705.53, and the Nasdaq composite gained 76.96 to 19,480.91. In the bond market, Treasury yields held relatively steady after a report showed U.S. employers were advertising slightly more job openings at the end of October than a month earlier. Continued strength there would raise optimism that the economy could remain out of a recession that many investors had earlier worried was inevitable. The yield on the 10-year Treasury rose to 4.23% from 4.20% from late Monday. Yields have seesawed since Election Day amid worries that Trump’s preferences for lower tax rates and bigger tariffs could spur higher inflation along with economic growth. But traders are still confident the Federal Reserve will cut its main interest rate again at its next meeting in two weeks. They’re betting on a nearly three-in-four chance of that, according to data from CME Group. Story continues below video Lower rates can give the economy more juice, but they can also give inflation more fuel. The key report this week that could guide the Fed’s next move will arrive on Friday. It’s the monthly jobs report , which will show how many workers U.S. employers hired and fired during November. It could be difficult to parse given how much storms and strikes distorted figures in October. Based on trading in the options market, Friday’s jobs report appears to be the biggest potential market mover until the Fed announces its next decision on interest rates Dec. 18, according to strategists at Barclays Capital. In financial markets abroad, the value of South Korea’s currency fell 1.1% against the U.S. dollar following a frenetic night where President Yoon Suk Yeol declared martial law and then later said he’d lift it after lawmakers voted to reject military rule. Stocks of Korean companies that trade in the United States also fell, including a 1.6% drop for SK Telecom. Japan’s Nikkei 225 jumped 1.9% to help lead global markets. Some analysts think Japanese stocks could end up benefiting from Trump’s threats to raise tariffs , including for goods coming from China . Trade relations between the U.S. and China took another step backward after China said it is banning exports to the U.S. of gallium, germanium, antimony and other key high-tech materials with potential military applications. The counterpunch came swiftly after the U.S. Commerce Department expanded the list of Chinese technology companies subject to export controls to include many that make equipment used to make computer chips, chipmaking tools and software. The 140 companies newly included in the so-called “entity list” are nearly all based in China. In China, stock indexes rose 1% in Hong Kong and 0.4% in Shanghai amid unconfirmed reports that Chinese leaders would meet next week to discuss planning for the coming year. Investors are hoping it may bring fresh stimulus to help spur growth in the world’s second-largest economy. In France, the CAC 40 rose 0.3% amid continued worries about politics in Paris , where the government is battling over the budget. AP Business Writers Yuri Kageyama and Matt Ott contributed.How to Watch Top 25 Women’s College Basketball Games – Wednesday, December 4
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July 28, 1956 - December 19, 2024 Beloit, WI - Terry V. Phillips, 68, of Beloit, WI, passed away on Thursday, December 19, 2024. He was born on July 28, 1956 to Edward and Dorothy (Stietz) Phillips. Terry graduated from Beloit Memorial High School in 1974. Terry was employed by Durst Corporation, Fairbank, Specialty Tools, and Husco as a tool grinder. In his leisure time, Terry liked to fish, hunt, and do woodworking. He enjoyed driving around taking photographs, especially of eagles. He loved watching all kinds of professional sports. He was so proud to be a lifetime Packer fan, that he became a shareholder. Terry would go see the players at training camp, and was thrilled to see a game at Lambeau Field. He collected figurines of wildlife and all kinds of Santas, with over 1500 Santas. Terry is survived by his sister, Penny Thomas; brother, Scotty Phillips; sister-in-law, Sandy Phillips; many nieces and nephews, numerous great nieces and great nephews; three maternal aunts; many cousins; son, Brian; daughter, Laura Dobbs; and friends. Terry was predeceased by his parents, Edward and Dorothy; brother Randy; brother-in-law, Danny Thomas; sister-in-law, Barbara Phillips; many aunts, uncles and several cousins. In lieu of flowers the family request donations be sent to St. Jude Research Hospital. A celebration of Terry's life will be held at a later date. Daley Murphy Wisch & Associates Funeral Home and Crematorium, 2355 Cranston Rd., Beloit, WI, assisted the family with arrangements. Online condolences may be sent to the family at www.daleymurphywisch.com .The Swans stunned Pride Park into silence with less than two minutes on the clock when Zan Vipotnik sent a bullet past Jacob Widell Zetterstrom before Ronald slotted home his first of the season in the 14th minute. Cyrus Christie brought Tom Barkhuizen down inside the box and Nathaniel Mendez-Laing dispatched the resulting penalty to cut the deficit in half and, despite piling on the pressure, Derby succumbed to a second home defeat of the season. Williams told a press conference: “We started the game very well, we were good up until we scored the second goal then we lost the grip on the game and I thought Derby were the better team. “The next thing for us we have to be able to maintain that level throughout the game and we weren’t able to do that to be quite honest today. “They made it difficult, reacted very well after the second goal and didn’t go under, far from it.” Swansea leapfrogged their opponents into the top half of the table with their sixth win of the season and took three points back to south Wales following two last-minute defeats by Burnley and Leeds heading into the match. Williams added: “We’ve recently conceded late goals but they’re a very resilient group and we saw it out in the end. “We’ve dominated games a lot but probably failed to score when we’ve been that dominant and tonight we managed to score the goals when we were dominant. “We scored the goals at the right time today.” Derby had been unbeaten in their last three matches coming into this one but Paul Warne put defeat down to a poor start. He said: “We conceded two and didn’t get close enough, weren’t aggressive enough, not enough body contact and looked soft, that’s my fault. “Maybe I didn’t message it properly. Sometimes it doesn’t come down to shape and tactics but I thought that was what the difference was. “Credit Swansea for the win but after the 25 mins it looked like we would score. I really enjoyed it, that’s the truth. I had 70 minutes of a team giving everything, I don’t think we’ve had that many attempts in the Championship this season. “It’s a rude awakening, last year we would’ve won that 4-2.”
Geir Otto Pedersen issued the warning while briefing the UN Security Council during an emergency meeting on recent developments in Syria on Tuesday local time. If we do not see de-escalation and a rapid move towards a serious political process that includes the Syrian parties and key international players, it is feared that we will witness a deepening of the crisis, he said. At the beginning of his speech, the UN official called on all parties to protect the lives of civilians, stating that the recent developments in northern Syria pose severe risks to civilians and have dangerous effects on regional and global peace and security. While referring the Tahrir al-Sham (previously Nusra Front) to a designated terrorist group by the UN, Pedersen also warned that the resurgence of terrorism puts Syria at grave risk of further division, deterioration and destruction, and endangers the Arab country’s sovereignty, unity, independence and territorial integrity. Fourteen years of conflict have conclusively shown that none of the Syrian parties or existing actors and groups can resolve the Syrian conflict militarily, Pedersen told the Security Council and stressed: "We must de-escalate and ensure a cooperative approach to confronting terrorist groups." While calling for serious international efforts and negotiations in accordance with Security Council Resolution 2254 to find a way to end the conflict, and prevent bloodshed, the UN envoy clarified that he is in contact with the Syrian parties and international actors to this end, including the Syrian government, the Syrian opposition, Turkey, Russia, Iran, the United States, and Arab and European countries. The emergency meeting of the UN Security Council convened at the request of Damascus and with the support of Russia, China and Algeria, following attacks by foreign-backed terrorist on parts of several provinces including Aleppo, Idlib and Hama. The permanent and non-permanent members of the UN Security Council, and the ambassador and permanent representative of the Islamic Republic of Iran to the UN are scheduled to speak at the meeting. 4399No Family Present, But 2 Dozen Women Support Luigi Mangione In NYC CourtroomLuke Williams feels Swansea ‘lost grip’ on game despite sealing victory at DerbyMetairie, La., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Magnolia Bancorp, Inc. (the “Company”), a newly formed Louisiana corporation which will be the holding company for Mutual Savings and Loan Association (the “Association”), announced today that the Association’s members approved the plan of conversion pursuant to which the Association will convert from a federally chartered mutual savings and loan association to a federally chartered stock savings association and the transactions provided for in such plan of conversion, including the adoption of a new federal stock Charter and new Bylaws for Mutual Savings and loan association. The Company also announced that the subscription and community offering closed on December 17, 2024 at 1:00 p.m., Central Time. The Company is currently processing the orders and will provide additional information as soon as it is available. The number of shares to be sold in connection with the conversion and stock offering will be based on a final appraisal and receipt of final regulatory approvals. The stock offering and the simultaneous mutual-to-stock conversion of the Association are expected to close in early to mid-January 2025, subject to final regulatory approvals and the satisfaction of customary closing conditions. The Company will provide more information as soon as it is available. The Company’s common stock is expected to be quoted on the OTCQB Market. The Stock Information Center will be confirming order fulfillment information after all final approvals are received. Other information regarding the subscription and community offerings may be obtained by contacting the Stock Information Center at 1-877-643-8217. Generally, the Stock Information Center is open Monday through Friday, between 9:00 a.m. and 3:00 p.m., Central Time; however, with the upcoming holidays the Stock Information Center hours will vary. Normal hours of operation will resume on January 2, 2025. Keefe, Bruyette & Woods, A Stifel Company, acted as selling agent in the subscription and community offerings, and served as financial advisor to the Company and the Association in connection with the conversion. Silver, Freedman, Taff & Tiernan LLP acted as legal counsel to the Company and the Association. About Mutual Savings and Loan Association The Association was founded in 1885 and serves the banking needs of customers in its market area, which primarily consists of Jefferson and St. Tammany Parishes in Louisiana. The Association operates from its headquarters and main banking office in Metairie, Louisiana, as well as one additional full service branch office located in St. Tammany Parish on the north shore of Lake Pontchartrain in Mandeville, Louisiana. Its primary business activity is attracting deposits from the general public and using those funds primarily to originate one- to four-family residential loans, residential construction loans and home equity lines of credit. At September 30, 2024, the Association had total assets of $35.1 million, total deposits of $20.4 million and equity of $14.0 million. Magnolia Bancorp, Inc. will become the holding company for the Association upon completion of the conversion and stock offering. Forward-Looking Statements This press release and the Company’s prospectus for the offering contain forward-looking statements, which can be identified by the use of words such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “would,” “should,” “could” or “may,” and words of similar meaning. These forward-looking statements include statements of the Company’s goals, intentions and expectations; statements regarding the Company’s business plans, prospects, growth and operating strategies; statements regarding the quality of the Company’s loan portfolio; and estimates of the Company’s risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of the Company’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: the failure to obtain the final approval of the OCC for the proposed conversion and related stock offering, delays in obtaining such approval, or adverse conditions imposed in connection with such approval; those related to the real estate and economic environment, particularly in the market areas in which the Association operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company and the Association may not be successful in the implementation of their business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company’s filings with the Securities and Exchange Commission, which are available at the SEC’s website, www.sec.gov . The Company cautions undue reliance on any such forward looking statements, which speak only as of the date made. The Company disclaims any obligation to publicly release any revision made to any forward-looking statement to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. This press release is neither an offer to sell nor an offer to buy shares of common stock of the Company. The Company has filed with the SEC a registration statement for the offering to which this press release relates as well as the final prospectus, dated November 8, 2024, for the subscription and community offerings. Before you invest, you should read that prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the stock offering. You may obtain these documents for free by visiting EDGAR on the SEC web site at www.sec.gov . The shares of common stock of the Company are not deposits or savings accounts and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Michael L. Hurley President and Chief Executive Officer (504) 455-2444