Stocks rise on Wall Street and pull closer to weekly gains as AI stocks climb

posted in: All news | 0

By DAMIAN J. TROISE

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Friday and further trimmed losses from earlier in the week for several major indexes.

Related Articles


Silly stocking stuffer ideas from the Nerds


TikTok signs deal to form new US unit with investors, including Oracle, Silver Lake


Instacart settles with FTC over deceptive practices but faces separate investigation into prices


Trump Media to merge with nuclear fusion company that wants to power AI


US stocks jump after an encouraging inflation update, as Micron helps AI stocks stop their slide

The S&P 500 jumped 0.7%, adding to gains made on Thursday.

The Dow Jones Industrial Average rose 259 points, or 0.5%, as of 11:06 a.m. Eastern. The Nasdaq jumped 0.9% and is now slightly higher for the week.

Technology stocks with an focus on artificial intelligence once again led the market. Nvidia jumped 2.6% and Broadcom rose 1.4%.

Oracle rose 6.7% on news that it, along with two other investors, had signed agreements to form a new TikTok U.S. joint venture. Oracle, Silver Lake and MGX each get a 15% share in the popular social video platform, ensuring that it can continue operating in the U.S.

Company earnings and how companies are performing amid tariffs and inflation were a key focus for Wall Street.

Nike slumped 8.7%, as the impact from tariffs overshadowed an otherwise strong quarterly profit report. Frozen potato maker Lamb Weston fell 23.8%, despite also beating Wall Street’s profit and revenue forecasts.

Winnebago Industries jumped 12.3% after turning in profits and revenue for its latest quarter that easily beat analysts’ estimates.

Homebuilders dropped following a report showing that home sales slowed from a year earlier for the first time since May. Lennar lost 2.3% and KB Home fell 8.3%.

A survey from the University of Michigan showed that consumer sentiment in December improved slightly from November, but is deeply diminished from a year ago.

“Despite some signs of improvement to close out the year, sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” wrote Surveys of Consumers Director, Joanne Hsu.

Consumer confidence has been weakening throughout the year as persistent inflation squeezes consumers. The job market is also slowing while retail sales weaken. Business and consumers are also worrying about the continued impact of a wide-ranging U.S.-led trade war that has targeted key partners including China and Canada.

The latest inflation update on Thursday revealed a surprise cooling of prices in November. The Labor Department reported that its consumer price index rose 2.7%. But economists quickly warned that those numbers were suspect because they’d been delayed and likely distorted by the 43-day federal shutdown.

Inflation is still above the Federal Reserve’s 2% target. The central bank cut its benchmark interest rate at its most recent meeting. It has been concerned about the slowing job market hurting the economy. But cutting interest rates could add more fuel to inflation, which could also stunt economic growth.

The Fed has maintained a cautious stance about interest rate policy heading into 2026 and Wall Street is mostly betting that it will hold steady on rates at its next meeting in January.

Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.13% from 4.11% late Thursday.

Japanese stocks rose after the Bank of Japan raised its benchmark interest rate to its highest level in 30 years. In Tokyo, the Nikkei 225 gained 1%, leading the rise across Asia’s key markets. Markets in Europe also gained ground.

AP Business Writer Matt Ott contributed.

Ford recalls more than 270,000 electric and hybrid vehicles due to roll-away risk

posted in: All news | 0

Ford is recalling more than 270,000 electric and hybrid vehicles in the U.S. because of a parking function problem that could lead to them rolling away.

The Detroit automaker said that the recall includes certain 2022-2026 F-150 Lightning BEV, 2024-2026 Mustang Mach-E, and 2025-2026 Maverick vehicles. At issue is the integrated park module, which may fail to lock into the park position when the driver shifts into park.

Ford said that it will implement a park module software update for free.

Vehicle owners may contact Ford customer service at 1-866-436-7332 for additional information.

Related Articles


Silly stocking stuffer ideas from the Nerds


TikTok signs deal to form new US unit with investors, including Oracle, Silver Lake


Instacart settles with FTC over deceptive practices but faces separate investigation into prices


Trump Media to merge with nuclear fusion company that wants to power AI


US stocks jump after an encouraging inflation update, as Micron helps AI stocks stop their slide

4 months in, activists say Trump’s operation in Washington targets immigrants

posted in: All news | 0

By GARY FIELDS and ALANNA DURKIN RICHER

WASHINGTON (AP) — When President Donald Trump launched a law enforcement operation in Washington, D.C., four months ago, he billed it as a mission to fight rampant crime.

But activists and local leaders say that description belies what has emerged as a simultaneous crackdown on immigrants, who have grown increasingly concerned for their status and safety in the city.

One-third of all arrests made during the operation were immigration-related, according to official figures reviewed by The Associated Press. Activists and immigrants say arrests are frequent and frightening. A lawsuit alleges they are often unlawful. And with no end in sight to the surge in law enforcement in the city, there is no indication the immigration arrests will end.

The threat to immigrants in the city has now become routine, the activists and local leaders say.

Immigration enforcement sweeps are “not making the nightly news anymore because it’s business as usual,” said Washington council member Brianne K. Nadeau.

FILE – People hold signs warning drivers of a checkpoint operated by the Metropolitan Police Department and federal agencies, including officers from Immigration and Customs Enforcement (ICE) and Homeland Security Investigations (HSI), on Georgia Avenue in the northern part of Washington, Aug. 30, 2025. (AP Photo/Mark Schiefelbein, File)

DC operation is a crime fighting mission, Trump says

Trump launched the federal intervention in D.C. in mid-August with an emergency order that took over the city’s police force and sent federal agents in along with hundreds of National Guard troops.

Trump’s Republican administration says the D.C. mission is intended to fight crime and has touted it as a resounding success, although crime was already on the decline before the operation began.

Related Articles


These are Americans’ biggest priorities for the government in 2026, according to a new poll


Justice Department faces deadline to release files on Epstein sex trafficking investigation


The Kennedy Center starts work to add Trump’s name onto the building


Trump suspends green card lottery program that let Brown University, MIT shootings suspect into US


Trump’s blockade of sanctioned Venezuelan oil raises new questions about legality

Official figures show that about 33% of the more than 7,500 arrests made since the operation began through Monday were immigration-related. In September, an Associated Press analysis found that 40% of the 2,400 arrests were immigration-related.

According to U.S. Immigration and Customs Enforcement figures released by the University of California Berkeley Deportation Data Project, of the roughly 1,130 immigration arrests made in the heavily Democratic city from the start of the operation to Oct. 15, the dates for which data was provided, 947 had no criminal record or pending criminal charge.

“The focus of President Trump’s highly successful D.C. operation has been to address crime committed by anyone, regardless of immigration status,” said White House spokesperson Abigail Jackson, who added that many of those arrested were committing crimes, had outstanding warrants or had prior convictions.

The statistics showed arrests in the period were wide-ranging, including homicide and drug charges.

‘My neighbors are being harassed, assaulted and kidnapped’

Although the emergency order affecting the police lapsed in September, arrest sweeps, checkpoints, masked law enforcement and unmarked vehicles are still visible.

Dozens of witnesses in a more than 10-hour municipal hearing earlier this month spelled out the ongoing concerns. Residents said they had seen detentions, often by masked and unidentifiable law enforcement agents. Common targets were school drop-off zones, food distribution sites, landscapers and apartments with large populations of Hispanic residents. There were numerous complaints that the local Metropolitan Police Department has continued working closely with ICE in its immigration efforts despite a pledge by Mayor Muriel Bowser, a Democrat, that they would not.

Nadia Salazar Sandi, a Bolivian immigrant, told the meeting that multiple family members have been detained over recent months, leaving what she said were empty seats at Thanksgiving dinner.

“This is terrifying,” she said of the immigration operations. “I’m a citizen now, and I walk with my passport.”

Witnesses said a number of the detentions began with routine traffic stops by the Metropolitan Police. One instance began as an expired-tag stop that drew more than a dozen federal officers and agents.

“Every single day my neighbors are being harassed, assaulted and kidnapped,” said Leah Tribbett, a city resident. “I could talk for probably the entirety of this hearing and still not recount every single instance of brutality that I’ve seen.”

An earlier information gathering held by Nadeau revealed an increasing desire by some immigrants to fade out of the public eye. One witness was a medical professional who recounted how one family was considering opting out of speech and occupational therapy for their autistic children out of fear authorities would be waiting for them at the clinic.

Tactics used during arrests have been challenged in court

A federal judge earlier this month blocked the Trump administration from making widespread immigration arrests in the nation’s capital without warrants or probable cause that the people arrested have violated immigration law or there is knowledge they are flight risks.

The American Civil Liberties Union and other plaintiffs’ attorneys argued federal officers were frequently patrolling and setting up checkpoints in neighborhoods with large numbers of Hispanic immigrants and then stopping and arresting people indiscriminately.

José Escobar Molina, a plaintiff in the lawsuit, said in court documents that he had temporary legal protections and lived in the city for 25 years. He said he was walking from his apartment building to his work truck when two cars pulled up next to him. Unidentified federal agents grabbed and handcuffed him without asking for his name, identification or any information about his immigration status, he said. They also did not ask where he lived, how long he has been in the area or whether he had ties to the community, he said.

Attorneys for the Trump administration argued that agents had probable cause to detain Molina and the other plaintiffs in the manner that was used.

Department of Homeland Security Assistant Secretary Tricia McLaughlin said arrests in Washington and beyond are carried out lawfully and all detainees receive due process.

Madeleine Gates, associate counsel with the nonprofit Washington Lawyers’ Committee and one of the lawyers representing the plaintiffs, said they have submitted additional statements by community members with dozens of instances in which people were arrested outside proper procedures.

“What we’ve actually seen in practice are officers arresting people without seeming to know who they are,” Gates said.

Trump has not said when he might draw down the federal law enforcement surge. Following the shooting of two National Guard members allegedly by an Afghan national in the city last month, Trump said he planned to bring in hundreds more troops to support the operation.

Local leaders are holding hearings and raising the alarm about the arrests. But they acknowledge that in a federal district with limited autonomy, there is little they can do to push back.

“The frustrating truth,” said Brooke Pinto, a city council member, “is that we do not have the same levers of power and control, nor the same rights, as a district that every one of the 50 other states have to protect our residents.”

November US homes sales rose from the previous month, but down from 2024 as prices climb

posted in: All news | 0

By ALEX VEIGA, AP Business Writer

Sales of previously occupied U.S. homes rose in November from the previous month, but slowed compared to a year earlier for the first time since May despite average long-term mortgage rates holding near their low point for the year.

Related Articles


Silly stocking stuffer ideas from the Nerds


TikTok signs deal to form new US unit with investors, including Oracle, Silver Lake


Instacart settles with FTC over deceptive practices but faces separate investigation into prices


Trump Media to merge with nuclear fusion company that wants to power AI


US stocks jump after an encouraging inflation update, as Micron helps AI stocks stop their slide

Existing home sales rose 0.5% in last month from October to a seasonally adjusted annual rate of 4.13 million units, the National Association of Realtors said Friday.

Sales fell 1% compared with November last year. The latest sales figure came in slightly below the 4.14 million pace economists were expecting, according to FactSet.

Through the first 11 months of this year, home sales are down 0.5% compared to the same period last year.

“It’s possible that 2025, unless December (sales) figures really improve, we may be technically slightly down from one year ago,” said Lawrence Yun, NAR’s chief economist.

One factor limiting home sales is weaker demand for condominiums. Sales of condos are down 6% so far this year, Yun noted.

Despite sluggish sales, home prices continued to climb last month. The national median sales price increased 1.2% in November from a year earlier to $409,200, an all-time high for any November on data going back to 1999.

Home prices have risen on an annual basis for 29 months in a row, even as the housing market has been mired in a slump that began in 2022 when mortgage rates began climbing from historic lows. Sales of previously occupied U.S. homes sank last year to their lowest level in nearly 30 years.

Sales have been stuck at around a 4-million annual pace now going back to 2023. That’s well short of the 5.2-million annual pace that’s historically been the norm.

Home sales got a boost this fall as the average rate on a 30-year mortgage declined at the end of October to 6.17%, the lowest level in more than a year.

Even so, affordability remains a challenge for many aspiring homeowners, especially first-time buyers who don’t have equity from an existing home to put toward a new home purchase. Uncertainty over the economy and job market are also keeping many would-be buyers on the sidelines.

A shortage of homes for sale, especially in the more affordable end of the market, continues to weigh especially on first-time homebuyers. They accounted for 30% of homes sales last month. Historically, they made up 40% of home sales.

An annual survey of homebuyers by NAR showed first-time buyers accounted for an all-time low 21% of home purchases between July 2024 and June 2025, while the average age of such homebuyers rose to a record-high of 40.

Homes purchased last month likely went under contract in September and October, when the average rate on a 30-year mortgage ranged from 6.5% to 6.17%, according to Freddie Mac. Mortgage rates have mostly remained close to their October low in recent weeks.

Home shoppers who can afford to buy at current mortgage rates benefited from a wider selection of properties on the market last month than a year ago, although the number of homes for sale in November declined from the previous month.

There were 1.43 million unsold homes at the end of last month, down 5.9% from October and up 7.5% from November last year, NAR said.

The latest inventory snapshot remains well below the roughly 2 million homes for sale that was typical before the COVID-19 pandemic.

November’s month-end inventory translates to a 4.2-month supply at the current sales pace. Traditionally, a 5- to 6-month supply is considered a balanced market between buyers and sellers.

Yun is forecasting that existing U.S. home sales will jump 14% next year. That’s more optimistic than several other housing economist forecasts, which range from a 1.7% to 9% increase.

Economists generally forecast that the average rate on a 30-year mortgage will remain slightly above 6% next year.