By STAN CHOE, Associated Press Business Writer

NEW YORK (AP) — Wall Street is holding steady on Thursday as the countdown ticks to an update on the U.S. job market coming Friday that could clear the way for the cuts to interest rates that investors love.

The S&P 500 rose 0.2% in early trading. The Dow Jones Industrial Average was down 45 points, or 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% higher.

Treasury yields were also easing in the bond market following the latest discouraging signals on the job market. One report suggested U.S. employers, excluding the government, nearly halved their hiring last month. Another said that more U.S. workers applied for unemployment benefits last week, an indication of rising layoffs.

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Neither number is flashing a recession, but a slowdown in the job market could push the Federal Reserve to consider cutting its main interest rate for the first time this year at its next meeting in a couple weeks. So far this year, the Fed has been keeping rates on hold because it’s been more worried about inflation potentially worsening than about the job market.

Cuts to interest rates can give the economy and job market a kickstart, but they can also push inflation higher.

“The year started with strong job growth, but that momentum has been whipsawed by uncertainty,” according to Nela Richardson, chief economist at ADP. She said several things could be behind the slowdown, including ”labor shortages, skittish consumers, and AI disruptions.”

A much more comprehensive report on the job market from the U.S. Labor Department will arrive on Friday, and it will likely carry much weight with the Fed. Ahead of it, the yield on the 10-year Treasury fell to 4.19% from 4.22% late Wednesday.

Last month’s grim July jobs report, which included massive downward revisions for June and May, sent financial markets spiraling and prompted President Donald Trump to fire the head of the agency that compiles the monthly data.

On Wall Street, Salesforce was one of the market’s heaviest weights, even though it reported a better profit for the latest quarter than analysts expected. Analysts called the performance solid but suggested some of it may have come from one-time factors. Salesforce, which helps businesses manage their customers, fell 7.4%.

C3.ai tumbled 9% after reporting a larger loss for the latest quarter than analysts expected. Chairman Thomas Siebel called the results “completely unacceptable,” while announcing a new chief executive for the company, Stephen Ehikian. He was most recently acting administrator of the U.S. General Services Administration

On the winning side of the market was American Eagle Outfitters, which jumped 31.5% after the teen fashion retailer reported more than double the profit that analysts had expected. It benefited from a frenzy of media attention in late July over its intentionally provocative advertising campaign featuring 27-year-old actor Sydney Sweeney.

The ads — which featured the tagline “Sydney Sweeney has great jeans” — sparked a debate about race, Western beauty standards, and the backlash to “woke” American politics and culture.

Hewlett Packard Enterprise added 1% following its own better-than-expected profit report.

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

Indexes dropped 1.3% in Shanghai and Hong Kong but jumped 1.5% in Tokyo.

AP Writers Teresa Cerojano and Matt Ott contributed.

By KENYA HUNTER

In the fitness class Jessie Syfko created for a nationwide gym chain, exercisers wear weighted vests that add a challenge to their workouts.

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“People start to realize how good it feels to work just a little bit harder and a little bit smarter” without actually changing what they’re doing, said Syfko, senior vice president for Life Time gyms.

Weighted vests are increasingly showing up in fitness classes and on jogging tracks, touted by social media influencers as a way to keep bones healthy, improve performance and even accelerate weight loss. They are exactly what they sound like – vests that add resistance to the torso through pockets with removable weights.

But there’s a lack of robust research on their benefits, experts say, so it’s unclear how much of the hype is justified. And some people, such as seniors or those who are pregnant, should be cautious about using them.

Here are the potential benefits of weighted vests

When you think about how exercise works, the idea that a weighted vest will help you meet fitness goals like weight loss, muscle growth or preventing bone loss might make sense on the surface. Adding weight to the vest adds resistance to your everyday activities without changing up your patterns.

The vests may, in fact, offer benefits for healthy adults, experts say – although no one should expect transformative or instant results. Jeff Monaco, a certified strength coach who teaches medical fitness at the University of Texas at Austin, said while you may not lose a lot more calories during a weighted vest exercise, resistance from the vest may result in better sports performance over time.

“There are a lot of studies looking at (the weighted vest) from a speed perspective in different athletics, like soccer, with changing direction, agility and speed and so forth,” he said.

You’ll start to see those benefits by adding about 10% of your body weight to the vest, he said. If you weigh 150 pounds, for example, that would mean adding a total of 15 pounds to the vest.

Nora Capocci wears a weighted vest during an MB360 workout class at the Life Time health club in New York on Wednesday, Aug. 13, 2024. (AP Photo/Shelby Lum)

But the research outside of sports isn’t as clear.

One 2020 study from Wake Forest University School of Medicine in North Carolina found that adults between 60 and 85 years old who wore weighted vests at times during the day when they were most active lost about the same amount of weight as those who didn’t wear them. They also lost the same amount of bone density, which happens as we age but can be slowed by building muscle.

Here’s how to use weighted vests safely

Experts urge people to use weighted vests safely.

It’s best to start out by adding between five to 10 percent of your body weight. Wearing a vest that’s too heavy can put unnecessary strain on your joints, back and hips. That extra load can throw off your posture, lead to poor form or even result in stress fractures over time.

Some people should consult with a doctor before they throw on a vest, said Dr. Elizabeth Gardner, a team physician for athletes at Yale University. They include people who are pregnant, suffer from heart and breathing conditions or have back or neck injuries.

You’ll have to use the muscles in your abdomen to use a weighted vest effectively, Gardner said, and this can be tougher for those already managing back pain.

Before starting to use a vest, Monaco said it’s always helpful to get guidance from someone who has experience with them, “just to make sure that your movements are good, your form is good, that you have enough muscular upper body, muscular strength and endurance to support that during your movements.”

But as long as you use it correctly, he said, a weighted vest can be “a good tool to have in your toolbox.”

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content.

Hot take: Peak homebuying season is overrated.

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Sure, summer makes sense if you have kids in school. But wait until fall, and your patience often pays off. With less competition, buyers have more negotiating power.

This year, fall buyers have another advantage: Growing inventory. Housing supply hasn’t been this plentiful since May 2020.

If you didn’t luck out during your summer house hunt, be grateful. This fall just might be the best window for home buyers in the past five years. Here’s why.

Competition has calmed down

Back in 2021 and 2022, it felt nearly impossible to buy a house. Few places were listed for sale, thanks in part to the “rate lock-in effect” — homeowners clinging to their ultra-low mortgage rates. When a good listing popped up, buyers entered rabid bidding wars.

Until recently, sellers basked in the spotlight. But now the market is remixing, and it’s finally starting to feel like a duet.

Joel Berner, senior economist at Realtor.com, calls it a “buyer-friendly balanced market” — not quite a buyer’s market, but a noticeable power shift.

“What we’re seeing a lot of is sellers with some unrealistic expectations who list their homes maybe at prices they would have gotten in 2022, but it’s not 2022 anymore,” he says. “So they kind of have to do price reductions and negotiate with buyers more than they have in the past.”

An experienced buyer’s agent can help you understand how buyers in your market can flex this exciting new leverage. For example, you might be able to negotiate a lower purchase price, get the seller to pay for repairs or score some flexibility on a closing date.

Depending on your area, asking for all three still might be a stretch. Buyers have sway — not a magic wand.

Your friends are (probably) moving, too

After years of feeling stuck, buyers and sellers have recalibrated to the new normal of interest rates in the 6-7% range.

“Life happens,” Berner says. “People change jobs, people need to upsize, downsize. And, you know, that doesn’t always coincide nicely with mortgage rates.”

Housing inventory is measured in months’ supply, or the number of months it would take to sell all listed homes if no new ones came on the market.

In July 2025, the housing market had a 4.6 months’ supply of homes for sale, reports the National Association of Realtors — the highest number of houses on the market since before the pandemic.

Finally, the gridlock has eased. Buyers have more choice and don’t have to rush. In simple terms: “Higher inventory” just means more people are willing to move, whether or not that’s your literal social circle.

But when a friend lands a great new house, it might unlock your urge to browse listings, too.

Alexa Weber, a real estate agent with Hillary Ryan Group, Sotheby’s International Realty, has noticed the bandwagon effect among buyers. People like to see what’s working for friends or family before they make the decision for themselves, she says.

“Once they start seeing more momentum in the market — more properties going into contract, more properties closing — it gives them the confidence to move on their purchase that maybe they’ve been planning for a year or more,” Weber says.

Here’s the kicker: When mortgage rates eventually drop, all those friends and neighbors sitting on the sidelines will want to join the game. That could drive competition up again. So if you’re ready to buy, jump in now.

You could get a price break

Affording a home is still pretty tough.

Since early 2020, the median purchase price for a home has risen 55.7%, while wages have grown only 26.6%, according to a June 2025 report from ATTOM, a real estate data provider. The national median price in July 2025 was $422,400, according to the NAR, and year-over-year home prices have risen for 25 straight months.

Despite that broader trend, a few smaller wins this fall could add up.

First, home price growth is flattening. In July, the year-over-year gain was only 0.2%, suggesting that roughly half the country is seeing price drops, NAR chief economist Lawrence Yun noted in a news release. That’s another reason to team up with a local buyer’s agent who knows what’s happening in your area, Berner says. In many areas, prices are falling year over year.

“Really, there’s no such thing as a national market,” Berner says. “There’s just a bunch of local markets.”

Another score: In the fall, sellers tend to reduce prices for homes that have been on the market for a while. Plus, you can usually save a few bucks on moving costs.

Mortgage rates might drop

Finally, the wild card: Mortgage rates. Despite economic uncertainty, forecasts still expect average mortgage rates to drop slightly by the final quarter of 2025, with Fannie Mae predicting 6.5% and the Mortgage Bankers Association saying 6.6%. Of course, nothing is guaranteed. All eyes are on the Sept. 16-17 Federal Reserve meeting, which could signal optimism or pessimism for September mortgage rates and the months ahead.

Fractions of a percentage point do matter when it comes to mortgage rates. When you pay less in interest, it can lower your monthly payment or increase your purchasing power.

But avoid the temptation to time the market perfectly, Berner says. If a house meets your needs and works for your budget right now, that’s your cue. If rates drop, you can always refinance later.

“This is the most buyer-friendly market we’ve had since the pandemic,” he says. “So if you find what you’re looking for, jump on it.”

More From NerdWallet

How To Regret-Proof Your Home Purchase
How to Budget for a New Home So You Don’t End Up House Poor
How Much Money Do You Need to Buy a House?

Abby Badach Doyle writes for NerdWallet. Email: abadachdoyle@nerdwallet.com.

The article 4 Reasons Why This Fall Is the Ideal Time to Buy a House originally appeared on NerdWallet.

By LINDSAY WHITEHURST, Associated Press

WASHINGTON (AP) — The Trump administration took the fight over tariffs to the Supreme Court on Wednesday, asking the justices to rule quickly that the president has the power to impose sweeping import taxes under federal law.

The government called on the court to reverse an appeals court ruling that found most of President Donald Trump’s tariffs are an illegal use of an emergency powers law.

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It’s the latest in a series of Trump administration appeals to a Supreme Court he helped shape, and one that is expected to put a centerpiece of the president’s trade policy before the justices.

The U.S. Court of Appeals for the Federal Circuit left the tariffs in place for now, but the administration nevertheless called on the high court to intervene quickly in a petition filed electronically late Wednesday and provided to The Associated Press. It was expected to be formally docketed on Thursday.

Solicitor General D. John Sauer asked the justices to take up the case and hear arguments in early November.

“That decision casts a pall of uncertainty upon ongoing foreign negotiations that the President has been pursuing through tariffs over the past five months, jeopardizing both already negotiated framework deals and ongoing negotiations,” he wrote. “The stakes in this case could not be higher.”

But the stakes are also high for small businesses battered by tariffs and uncertainty, said Jeffrey Schwab, senior counsel and director of litigation at the Liberty Justice Center.

“These unlawful tariffs are inflicting serious harm on small businesses and jeopardizing their survival. We hope for a prompt resolution of this case for our clients,” he said.

The businesses have twice prevailed, once at a federal court focused on trade and again with the appeals court’s 7-4 ruling.

Their lawsuit is one of several challenging the tariffs and erratic rollout that have shaken global markets, alienated U.S. trading partners and allies and raised fears of higher prices and slower economic growth.

But Trump has also used the levies to pressure the European Union, Japan and other countries into accepting new trade deals. Revenue from tariffs totaled $159 billion by late August, more than double what it was at the same point the year before.

Most judges on the U.S. Court of Appeals for the Federal Circuit found the 1977 International Emergency Economic Powers Act, or IEEPA, did not let Trump usurp congressional power to set tariffs. The dissenters, though, said the law does allow the president to regulate importation during emergencies without explicit limitations.

The ruling involves two sets of import taxes, both of which Trump justified by declaring a national emergency: the tariffs first announced in April and the ones from February on imports from Canada, China and Mexico.

The Constitution gives Congress the power to impose taxes, including tariffs. But over the decades, lawmakers have ceded authority to the president, and Trump has made the most of the power vacuum.

Some Trump tariffs, including levies on foreign steel, aluminum and autos, weren’t covered by the appeals court ruling. It also does not include tariffs Trump imposed on China in his first term that were kept by Democratic President Joe Biden.

Trump can impose tariffs under other laws, but those have more limitations on the speed and severity with which he could act.

The government has argued that if the tariffs are struck down, it might have to refund some of the import taxes that it’s collected, delivering a financial blow to the U.S. Treasury.