The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed.AMGEN ANNOUNCES 2025 FIRST QUARTER DIVIDEND
Kroger, Walmart Grocery Rival, Pops Amid Merger RulingRocket Pharmaceuticals shares slip on proposed $150M public offeringSkillsoft Reports Financial Results for the Third Quarter of Fiscal 2025
Key Tuning Objectives in DBMS Configuration: Performance, Overhead, Adaptivity, and SafetyThe South Carolina women's basketball team has been defeated for the first time since March 31, 2023. The No. 1 Gamecocks fell Sunday in Los Angeles as Lauren Betts posted a double-double effort to lead No. 5 UCLA to a 77-62 triumph. The Gamecocks (5-1) suffered their first defeat after 43 consecutive victories, dating back to the loss to Iowa 77-73 in the NCAA Tournament semifinals. South Carolina defeated Iowa last season for the national championship. Betts finished with 11 points, a game-high 14 rebounds, four assists and four blocks to power the Bruins (5-0) to a historic victory. UCLA also got 15 points from Londynn Jones on 5-of-5 shooting from 3-point range, 13 points from Elina Aarnisalo and 11 each from Kiki Rice and Gabriela Jacquez. It's the first time UCLA has beaten South Carolina since 1981. The Bruins lost twice to the Gamecocks in the 2022-23 season, including in the Sweet 16 of the NCAA Tournament. Te-Hina Paopao had 18 points for South Carolina on 4-of-4 3-point shooting, while Tessa Johnson had 14 points. UCLA won the rebounding battle 41-34, marking the second time this season the Gamecocks have been outrebounded. South Carolina also got outscored in the paint 26-18. It's rare that a Dawn Staley-coached team -- units that typically revolve around dominant centers from A'ja Wilson to Aaliyah Boston to Kamilla Cardoso -- gets beat in the paint and on the glass, but with 6-foot-7 Betts, UCLA had the recipe to outmuscle the Gamecocks in those areas of the game. South Carolina never led after UCLA began the game with an 18-5 run, capped off by back-to-back 3-pointers from Jones. The Gamecocks cut the deficit to nine points in the second quarter, but the Bruins responded with a 17-5 run and entered halftime ahead by 21 points. Aarnisalo scored seven points during that run. From there, the Gamecocks never got within single digits of the lead in the second half. It's the first time in 21 tries that UCLA has beaten an AP-ranked No. 1 team. And it's the first time South Carolina lost a true road game since 2021, a streak of 33 games. The schedule doesn't get any easier for South Carolina. While UCLA faces UT Martin next on Friday, the Gamecocks play No. 8 Iowa State on Thursday. --Field Level Media
MIAMI GARDENS, Fla. (AP) — The Miami Dolphins were ready to deal veteran defensive tackle Calais Campbell to the Baltimore Ravens ahead of the Nov. 5 trade deadline until Mike McDaniel stepped in. “I may or may not have thrown an adult temper tantrum,” Miami's coach said, confirming the news first reported by NFL Network Sunday morning. The Dolphins were 2-6 and had lost three straight at that point. They'd played four uninspired games without their starting quarterback, going 1-3 after Tua Tagovailoa went on injured reserve on Sept. 17 with a concussion. Campbell would have had a chance to rejoin the contending Ravens, and Miami would have received a 2026 fifth-round pick in return, NFL Network reported. McDaniel argued that Campbell was too valuable to lose. “I was happy that they brought me into the conversations," Campbell said after Miami's 34-15 win over the New England Patriots . “They didn't have to say anything to me at all. We had a really good conversation about what we think about this team, where we are. We felt like we had a good shot to get back into the fight.” Added McDaniel: “I think it wasn’t like it was (GM) Chris (Grier) versus me. ... That’s the tricky thing about Chris’ job is he has to look long-term and short-term at the same time, what’s the best for the organization.” Campbell, a 17-year veteran, signed with the Dolphins after playing for Atlanta last season. Players and coaches have praised the 38-year-old's contributions on the field and in the locker room. “There’s no one’s game I’ve come to respect more than Calais up front on the D-line,” defensive tackle Zach Sieler said, “being with him this year and just the energy, the attitude and the mindset he brings every week. It can’t be matched, and that’s the reason why he is who he is today and doing what he’s doing at 17 years.” Campbell leads the team with four sacks. With back-to-back sacks in Weeks 10 and 11, he became the eighth player 38 or older to record sacks in consecutive games since the 1970 merger. He also has nine tackles for loss, giving him at least five tackles for loss in 15 of his 17 seasons. He played for Baltimore from 2020-2022, totaling 11 sacks and 113 tackles. “I think he means a great deal to not only the defensive line room, but the entire defense as well as the entire team,” McDaniel said earlier this week. “It’s rare for a guy to get here when he did, and then be voted, with such conviction, captain. I think the way that he operates to be a pro, I think has had a substantial impact on a lot of players that hadn’t been fortunate enough to be around someone with sustained success like he’s had.” The Dolphins have won three straight games since the deadline. Miami's defense held the Patriots scoreless until the fourth quarter on Sunday. Campbell broke down the team's pregame huddle as he has done before most games this season. He was also seen coaching up rookie linebacker Chop Robinson, who is always seeking pointers from the six-time Pro Bowler. “My job is to speak on behalf of what’s the best thing for the 2024 Dolphins,” McDaniel said. “I’m just fortunate to work in an organization where myself and the GM can be transparent and work together. “And he didn’t want to see any more adult temper tantrums.” AP NFL: https://apnews.com/hub/NFL
Donald Trump is returning to the world stage. So is his trollingabrdn Income Credit Strategies Fund (ACP) Announces Change to Monthly Distribution Expected to be Maintained for at Least the Next 12 Months
CHICAGO, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE: MEI) , a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2025 results for the period ended November 2, 2024, on Thursday, December 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik, at 10:00 a.m. CST. To participate in the conference call, please dial 888-506-0062 (domestic) or 973-528-0011 (international) at least five minutes prior to the start of the event. A simultaneous webcast can be accessed through the company’s website, www.methode.com, on the Investors page. A replay of the teleconference will be available shortly after the call through December 19, 2024, by dialing 877-481-4010 and providing passcode 51622. A webcast replay will also be available on the company’s website, www.methode.com, on the Investors page. About Methode Electronics, Inc. Methode Electronics, Inc. (NYSE: MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for OEMs utilizing our broad range of technologies for user interface, LED lighting system, power distribution and sensor applications. Our solutions are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus, and rail), cloud computing infrastructure, construction equipment, and consumer appliance. Our business is managed on a segment basis, with those segments being Automotive, Industrial, and Interface. For Methode Electronics, Inc. Robert K. Cherry Vice President Investor Relations rcherry@methode.com 708-457-4030
Stock market today: Wall Street climbs as bitcoin bursts above $99,000
