US stocks drift near their records as gold’s price falls again

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By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — Stocks are drifting near their record heights on Wall Street Wednesday, while the price of gold falls again to trim more off its tremendous gain for the year.

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The S&P 500 slipped 0.1% in morning trading and is sitting just underneath its all-time high, which was set earlier this month. The Dow Jones Industrial Average was down 99 points, or 0.2%, coming off its own record. The Nasdaq composite was 0.3% lower, as of 10:15 a.m. Eastern time.

Bank stocks were holding relatively steady after Capital One Financial, Western Alliance Bancorp and others reported stronger profits for the summer than analysts expected. The report from Western Alliance was particularly welcome after it helped shake confidence in the industry last week. It’s one of several banks that have warned of potentially bad loans on its books, possibly because of fraud.

Intuitive Surgical, which sells robotic-assisted surgical systems, jumped 16.3%, and Boston Scientific climbed 4.2% after they likewise reported better profits for the latest quarter than analysts expected.

It’s usually the case that the majority of companies deliver better profits each quarter than analysts had forecast. But the pressure is higher on companies to do so this time around because of criticism that their stock prices shot too high following a 35% romp for the S&P 500 from a low in April.

Netflix’s stock, for example, came into the day with a jump of 39.3% for the year so far, more than double the S&P 500’s gain. But its stock dropped 8.6% on Wednesday after it delivered weaker results for the latest quarter than expected.

AT&T fell 2.3% after delivering a profit that only matched analysts’ expectations, while Texas Instruments sank 5.1% after its profit fell just short of forecasts.

Beyond Meat, meanwhile, continued its meme-stock run and soared another 85.9% to bring its stunning gain for the week to 942%. Part of Beyond’s rise could be due to a recent announcement that Walmart will increase availability of some of its products at over 2,000 U.S. stores.

The maker of plant-based meat alternatives was also the biggest holding in the Roundhill Meme Stock exchange-traded fund, as of Tuesday. The ETF holds stocks of companies where investors have piled in almost regardless of their financial prospects, simply in hopes of catching a wave.

Momentum was continuing to head the other way for gold, which slipped 0.7% to $4,080.50 per ounce. That’s after Tuesday’s 5.3% slide knocked it off its record high.

Many of the same factors that drew buyers to gold this year are still there. Expectations are still for the Federal Reserve to cut interest rates through next year. Concerns are growing about inflation remaining high. And the worrisome mountains of debt that the U.S. and other governments worldwide have amassed are only rising further.

But no investment’s price goes up forever, and criticism had been growing that gold’s price had gone too far, too fast after it shot up even more than the U.S. stock market. Gold’s price is still up more than 50% for the year so far.

In stock markets abroad, indexes were mixed across Europe and Asia.

London’s FTSE 100 rose 1.1% after a report on U.K. inflation raised hopes for another cut to interest rates next month. South Korea’s Kospi jumped 1.6% for another one of the worlds bigger gains. But indexes fell 0.9% in Hong Kong and 0.4% in Paris.

In the bond market, the yield on the 10-year Treasury edged down to 3.97% from 3.98% late Tuesday.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

Vikings picks: ‘Experts’ are unanimous, Chargers win

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Pioneer Press staffers who cover the Vikings take a stab at predicting Sunday’s outcome against the Chargers in L.A.:

DANE MIZUTANI

Chargers 27, Vikings 17: Sometimes analysis doesn’t have to be overly complex. Justin Herbert plays quarterback for the Chargers. Carson Wentz plays quarterback for the Vikings. That will be the difference in a short week.

JACE FREDERICK

Chargers 23, Vikings 20: The Chargers are banged up on the offensive line and reeling. Still, it’s difficult to pick Carson Wentz over Justin Herbert on a short-week game played two time zones away.

JOHN SHIPLEY

Chargers 29, Vikings 20: The running game is a mess, Carson Wentz is often running for his life, and the defense proved distressingly vulnerable to big plays in last weekend’s 28-22 loss to Philadelphia. This team needs another bye, not a short turnaround to Southern California.

CHARLEY WALTERS

Chargers 21, Vikings 17: Too much mediocrity. Sorry to say, Vikings rooters, but this loss, and the remaining schedule, make the playoffs highly unlikely.

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Disneyland to update Soarin’ ride for America’s 250th anniversary

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The “Soarin’ Around the World” attractions at the Disneyland and Disney World resorts will trade scenes of the Great Wall of China, Egyptian pyramids and Eiffel Tower for a flight from sea to shining sea when the new “Soarin’ Across America” film opens during the 250th anniversary of the United States.

The new “Soarin’ Across America” attractions will debut in summer 2026 at Disney California Adventure and Epcot in celebration of the nation’s semi-quincentennial.

The Soarin’ hang-gliding flight simulator attractions combine mechanical lift systems with three rows of seats and aerial footage projected onto an 80-foot-tall concave domed movie screen to create a visual tour tied to a specific theme. Past tours have taken riders across California and around the world.

Walt Disney Imagineering will use advanced cameras and lenses mounted on helicopters and drones to capture the aerial footage for the updated attraction.

“Soarin’ Across America” will be filmed at 33 locations across the United States with the new scenes capturing a bird’s-eye view of the “scenic wonders, amazing cities and the beauty of the coasts” in a celebration of America’s diversity and grandeur.

ALSO SEE: Disneyland puts all 4 Magic Key passes on sale again

Imagineering hopes to paint an emotional portrait of the nation with scenes filmed at natural landmarks, national monuments and large cities.

“As always with Soarin’ films, the biggest challenge is choosing where to go and what locations would work best in this unique film format,” Imagineering Chief Storytelling Executive Tom Fitzgerald said in a statement. “Now with the 250th celebration, we’ll immerse our guests in a celebratory flight that spans from sea to shining sea.”

A teaser video featuring Soarin’ Chief Flight Attendant Patrick Warburton promises a limited-time itinerary of amber waves of grain and purple mountain majesties.

“America’s packed a lot into her 250 years,” Warburton said in the pre-flight video. “So you’ll want to pack a lot of party favors.”

Permitted carry-on items include Betsy Ross flags, hot dogs, apple pies, bald eagles, bunting, pocket constitutions, powdered wigs and red, white and blue Minnie Mouse ears, according to Warburton.

The new “Soarin’ Across America” film will be reminiscent of the “America the Beautiful” film that played in the Circle-Vision 360 attraction in Disneyland’s Tomorrowland.

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Transplanting shrubs: Timing and technique for a thriving garden

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By JESSICA DAMIANO, Associated Press

It’s the end of the gardening season, and those of us who’ve endured a less-than-perfect layout may be itching to move shrubs around. But proper timing is imperative.

I inadvertently planted a Clethra bush too close to a peach tree, and their intertwining branches have been taunting me all summer. But because the Clethra is a late-season bloomer, I’ll have to wait a bit longer before I can safely move it.

As a general rule, shrubs (and perennials) that bloom in late summer and fall should be transplanted in spring, just after they emerge from dormancy. This timing provides ample time for roots to establish before the plant’s energy is redirected toward blooming.

Spring and early summer bloomers should be relocated in the fall, when their blossoms and, sometimes, foliage, are long gone.

This April 18, 2025, image provided by Jessica Damiano shows a rhododendron in bloom on Long Island, N.Y. Gardeners can transplant spring- and early summer-blooming plants like rhododendrons in fall but should wait until spring to relocate late-summer and fall bloomers. (Jessica Damiano via AP)

Start with roots

Before attempting to dig up shrubs, research how deep and wide their roots typically grow. Shallow-rooted shrubs, like rhododendron, for instance, are easier to dig up than, say, manzanita, which have very deep root systems. Take the plant’s age into account, too, as mature shrubs will have larger roots than younger ones.

Your findings will guide your digging: New holes should be as close to twice the width of roots as possible — and exactly as deep.

Always dig a hole for the plant’s new home before removing it from the ground to minimize root exposure.

When possible, gently tie the plant’s branches together to get a better view of the area you’re digging. This step also helps prevent eye injuries from errant stems.

Take care to dig up as much of the roots as possible, plunging a sharp-edged shovel into the soil at what you estimate to be the roots’ farthest point and working your way around the perimeter of the plant. Then, retrace your steps, this time with more force to insert the tool deeply enough to lift roots out of the ground from underneath.

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Tips on planting

To avoid losing soil and damaging roots — as well as your back — place the entire shrub onto a tarp and drag the tarp to the new hole you’ve prepared.

Carefully slide the rootball into the hole and assess its depth. If necessary, remove the plant from the hole to add or remove soil as needed to ensure the point where its roots meet the trunk —the plant’s crown —sits at the same level it was previously.

Plant too deeply, and the crown and trunk will eventually rot; too shallow, and the roots will dry out, suffer sun and cold damage, and struggle to spread horizontally.

When you’re satisfied the shrub is sitting straight and at the correct depth, begin backfilling the hole with soil, stopping periodically to firmly tamp it down to eliminate air pockets. Water the soil halfway through, then resume backfilling and tamping. Water the soil again, then apply mulch over the entire root zone to retain soil moisture, regulate soil temperature and repel weeds.

Water the plant regularly through frost during the entire first year in its new home, but don’t fertilize yet.

Apply a slow-release, low-nitrogen fertilizer in mid-to-late spring. Doing so earlier would force the plant to allocate its limited energy to growth rather than recovery and root development.

Allowing transplants time to settle in can mean the difference between a struggling shrub and one that thrives for years to come.

Jessica Damiano writes weekly gardening columns for the AP and publishes the award-winning Weekly Dirt Newsletter. You can sign up here for weekly gardening tips and advice.