By STAN CHOE AP Business Writer

NEW YORK (AP) — The U.S. stock market is drifting toward the brink of another record.

Related Articles

Trump gets ‘golden share’ power in US Steel buyout. US agencies will get it under future presidents

Judge dismisses authors’ copyright lawsuit against Meta over AI training

Nestle says it will remove artificial dyes from US foods by 2026

Fannie Mae, Freddie Mac ordered to consider crypto as an asset when buying mortgages

Apple Valley senior living community adding independent living apartments

The S&P 500 was 0.4% higher in early trading and just 0.5% below its all-time high, which was set in February. The Dow Jones Industrial Average was up 207 points, or 0.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% higher.

McCormick, the seller of cooking spices, helped lead the way and rallied 5.3% after delivering a better-than-expected profit report. The company also gave a forecast for profit over its full fiscal year that topped analysts’ expectations, including planned efforts to offset increased costs caused by President Donald Trump’s tariffs.

Over the longer term, it’s been big technology stocks that have led the market for years and since the S&P 500 fell roughly 20% below its record during the spring on worries about tariffs.

Micron Technology, which sells computer memory and data storage, rose 0.3% after reporting stronger profit and revenue for the latest quarter than analysts expected. CEO Sanjay Mehrotra said it’s seeing growing memory demand driven by artificial intelligence, and the company gave a forecast for profit in the current quarter that topped analysts’ expectations.

Chip company Nvidia, which has been the poster child of the AI frenzy, added 0.5% to bring its gain for the year to 15.3%. It’s the most valuable company in the U.S. stock market.

Wall Street’s worries about Trump’s tariffs have receded since the president shocked the world in April with stiff proposed levies, but they have not disappeared. The wait is still on to see how big the tariffs will ultimately be, how much they will hurt the economy and how much they will push up inflation.

The economy so far seems to be holding up OK, and more reports arrived on Thursday bolstering that. One said that orders for washing machines and other manufactured goods that last at least three years grew by more last month than economists expected. A second said fewer U.S. workers filed for unemployment benefits last week, a signal of fewer layoffs.

A third report said the U.S. economy shrank by more during the first three months of 2025 than earlier estimated. But many economists say those numbers got distorted by how many U.S. companies rushed early this year to buy foreign products ahead of tariffs, and they’re expecting better growth in upcoming months.

Following the reports, Treasury yields swiveled up and down in the bond market, but they ultimately did not move very much.

The yield on the 10-year Treasury fell to 4.26% from 4.29% late Wednesday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, edged down to 3.73% from 3.74%.

Analysts said yields may be feeling downward pressure because of a report from The Wall Street Journal saying Trump could name his nominee to replace Fed Chair Jerome Powell unusually early, in an attempt to undermine him.

Powell has been repeating recently that the Federal Reserve is waiting to see how tariffs will affect the economy before deciding when to resume cutting interest rates. It has been on pause this year because lower rates can help give inflation more fuel, along with giving the economy a boost.

Trump, though, has been adamant about wanting cuts to rates sooner and has insulted Powell repeatedly. Two of his appointees to the Fed have also said recently that they would consider cutting rates as soon as the Fed’s next meeting in about a month.

“Yields fell, the dollar weakened, and break evens rose, all suggesting that a puppet of the White House in the seat of the Chair could be bad for inflation,” said Brian Jacobsen, chief economist at Annex Wealth Management. But Jacobsen said decisions on interest rates would still rest with a committee of Fed officials, not just the chair, and other officials could possibly keep the new leader “in check if needed.”

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

Japan’s Nikkei 225 rose 1.6%, and South Korea’s Kospi fell 0.9% for two of the bigger moves.

In the oil market, which has been the center of much of this week’s action, crude prices made up a bit more ground after plunging by roughly $10 per barrel earlier this week. A barrel of benchmark U.S. crude oil rose 1% to $65.55, though it still remains below where it was when Israel’s war with Iran began.

AP Business Writer Elaine Kurtenbach contributed.

LONDON (AP) — U.S. Health Secretary Robert F. Kennedy Jr. said the country is pulling its support from the vaccines alliance Gavi, saying the organization has “ignored the science” and “lost the public trust.”

A video of Kennedy’s speech was shown to participants at a Gavi meeting in Brussels on Wednesday, where the vaccines group was hoping to raise at least $9 billion for the next five years.

Related Articles

Iran’s supreme leader makes first public statement since ceasefire declared in Israel-Iran war

Federal judge orders US Labor Department to keep Job Corps running during lawsuit

Faith leaders and families sue to block Texas’ new Ten Commandments in schools law

Senate struggle over Medicaid cuts threatens progress on Trump’s big bill

A judge resisted Trump’s order on gender identity. The EEOC just fired her

Gavi is a public-private partnership including WHO, UNICEF, the Gates Foundation and the World Bank. It has paid for more than 1 billion children to be vaccinated through routine immunization programs, saving an estimated 18 million lives. The United States has long been one of its biggest supporters; before Donald Trump’s re-election, the country had pledged $1 billion through 2030.

Kennedy called on Gavi “to re-earn the public trust and to justify the $8 billion America has provided in funding since 2001,” saying officials must “consider the best science available, even when that science contradicts established paradigms.” Kennedy said until that happens, the U.S. won’t contribute further to Gavi.

Kennedy, a longtime vaccine skeptic, said he and President Trump were concerned about how Gavi and the World Health Organization partnered together during the COVID-19 pandemic to work with social media companies “to silence dissenting views, to stifle free speech and legitimate questions” during a time when many people had questions about vaccine safety.

Kennedy said Gavi continues to make “questionable recommendations,” like advising pregnant women to get immunized against COVID-19 and funding the roll-out of a vaccine against diphtheria, tetanus and pertussis in poorer countries.

WHO and other health authorities have recommended pregnant women get vaccinated against COVID-19, saying they are at higher risk of severe disease.

Kennedy said he has seen research that concluded that young girls vaccinated against diphtheria, tetanus and pertussis were more likely to die from all other causes than children who weren’t immunized.

Some observational studies have shown that vaccinated girls do have a higher death rate compared to unvaccinated children, but there is no evidence the deaths are caused by the vaccine.

Gavi said in a statement Thursday that its “utmost concern is the health and safety of children.” The organization said any decision it makes on vaccines to buy is done in accordance with recommendations issued by WHO’s expert vaccine group.

“This ensures Gavi investments are grounded in the best available science and public health priorities,” it said. Gavi said scientists had reviewed all available data, including any studies that raised concerns, and that the diphtheria, tetanus and pertussis vaccine has “played a key role in helping halve childhood mortality.”

The British government said Wednesday it would give 1.25 billion pounds ($1.7 billion) between 2026 and 2030 to Gavi. It said the money would help Gavi protect up to 500 million children in some of the world’s poorest countries from diseases including meningitis, cholera and measles.

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.

As of June 24, anyone looking for shelter—including newly arrived immigrants—should go to the Department of Homeless Services’ regular intake centers, City Limits has learned.

Outside the Roosevelt Hotel last week, which housed the city’s Asylum Seeker Arrival Center. The scene is in stark contrast to two years ago, when migrants waiting for a shelter bed regularly lined up outside. (Victoria Moran Garcia/City Limits)

With the closing of the Asylum Seeker Arrival Center at the Roosevelt Hotel this week, New York City is not only closing a chapter in its long immigration history, but dismantling its two-tier system of separate shelters for migrants after more than two years. 

Department of Homeless Services (DHS) traditional intake centers will serve as the starting point for migrants seeking shelter in the city, City Hall explained.

As of June 24, migrant families with children under 21, single pregnant individuals, and families with a pregnant member should go to the Prevention Assistance and Temporary Housing (PATH) office in the Bronx when looking for a bed.

Also beginning on that date, single men over the age of 18 must register at the 30th Street Intake Center in Manhattan, while single women should go to the HELP Women’s Center in Brooklyn.

While it was reported that City Hall would be returning control of all city shelters to DHS—winding down its sprawling network of Humanitarian Emergency Response and Relief Centers (HERRCs) for immigrants—officials said they will continue operating a limited number of non-DHS temporary emergency shelters.

The Roosevelt shelter, which has over a thousand rooms, had approximately 50 shelter households remaining as of June 11. In addition to the closure of the Arrival Center, the hotel will stop operating as a shelter by July 1, officials told City Limits.

Many of those who were staying at the Roosevelt—dubbed the “new Ellis Island” because it was the first stop for tens of thousands of migrants seeking shelter—were transferred to one of the last remaining HERCCs, at the Row Hotel near Times Square, according to advocates and families in shelter.

The city has moved to close 62 migrant shelter sites since last June, as the number of new arrivals continues to decline. The Row Hotel is not among those scheduled to shutter this year, a spokesperson said. 

In February, when Mayor Eric Adams announced plans to close the Arrival Center, he called it a significant milestone in New York City’s nearly three-year response to the humanitarian crisis of asylum seekers.

An MTA shuttle brings newly-arrived immigrants to one of the city’s Humanitarian Emergency Response and Relief Centers (HERRCs) on Randall’s Island on Oct. 18, 2023. The tent shelter complex closed in February, among the dozens of migrant shelters the city’s closed in recent months. (Adi Talwar/City Limits)

In the spring of 2023, the city opened the site as it received thousands of migrants arriving by air and land on a weekly basis. During its years of operation, the hotel went through several political flashpoints.

The first occurred during the summer of 2023, when people vying for a shelter bed slept on the streets during a heat wave. Its name was brought up again in the political arena this year when President Donald Trump took back $80 million in federal grants, intended to cover services for migrants, from New York City’s coffers.

In addition to its role as an intake center for migrant families looking for a place to stay, the Arrival Center also offered immigration assistance, medical checkups, vaccinations run by NYC Health + Hospitals, and many more services.

Homeless advocates say their chief worry about the site’s closure is whether people will still be able to access these resources in the wider DHS system. 

“Whenever a facility closes, whether it is a new arrival facility or otherwise, one of our ultimate concerns has always been whether or not the city has adequate capacity to meet the needs of the people that are being displaced,” said Will Watts, deputy executive director for advocacy with the Coalition for the Homeless. “We remain skeptical as to whether or not that’s the case.”

When asked which facility would replace the Arrival Center as the one-stop shop for migrant families, the mayor’s office said that DHS will provide case management services through its contracted organizations. 

“It is obviously important for the city to take into account the unique needs of this population,” said Kathryn Kliff, staff attorney at Legal Aid Society. “We will certainly be pushing them to ensure [DHS] staff are receiving training about the kind of unique situation that these clients may be in that maybe the non-new arrival DHS clients don’t.”

At the remaining HERRCs, the city will have Behavioral Health teams to provide mental health support, crisis intervention, and trauma-related response, a City Hall spokesperson said (though Watts, of Coalition for the Homeless, said this will only be available to families at The Row).   

“We continue to be concerned about the lack of case management, real case management services that folks need in order to be connected to resources, as well as legal services,” Watts said.

President Donald Trump’s administration has ramped up immigration enforcement in recent months, directing agents to detain people showing up to court for routine immigration case hearings and fast-tracking their deportations. Many don’t have lawyers. 

For migrants in shelter, City Hall said it will use the Mayor’s Office of Immigrant Affairs’ connections with community-based legal assistance groups for referrals. People can call the MOIA Legal Support Hotline directly at 800-354-0365 (open Monday through Friday between 9 a.m. and 6 p.m.) for assistance.

According to the City Limits’ Homeless Shelter Tracker, most migrants and asylum seekers were already at DHS-run sites as of April. 

Many new arrivals are still subject to controversial 30- and 60-day shelter deadlines. Coalition for the Homeless said the time limits remain in place for all migrants who are in non-DHS shelters, and for single adult and adult family migrants in DHS shelters. 

When their time expires, however, they are no longer required to return to intake centers to seek out more time, but can request an extension at their existing shelter and should receive it, according to Legal Aid and Coalition for the Homeless. 

Advocates have criticized the shelter deadline policy as disruptive to migrants’ lives, particularly for families with children who had to move each time the clock on their stays ran out. 

“It completely gets in the way of services that they have access to, and let alone if the families have to move to different shelters and the kids have to change schools,” said Caroline Schwab, a neighborhood organizer with the Open Hearts Initiative, an advocacy organization that supports people in shelter. “It’s just really disruptive and makes it so much harder for families to gain stability while they’re figuring it out here.”

To reach the reporters behind this story, contact Daniel@citylimits.org and Victoriam@Citylimits.org. To reach the editor, contact Jeanmarie@citylimits.org

Want to republish this story? Find City Limits’ reprint policy here.

The post As NYC’s Asylum Seeker Arrival Center Closes, What’s Next for Migrants in Shelter? appeared first on City Limits.

By FARNOUSH AMIRI and DAVID RISING

DUBAI, United Arab Emirates (AP) — Iran’s Supreme Leader Ayatollah Ali Khamenei said on Thursday his country had delivered a “slap to America’s face” with its strike on an American base in Qatar, and warned against any further U.S. attacks in his first public comments since a ceasefire was declared with Israel after 12 days of war.

Khamenei spoke in a recorded video broadcast on Iranian state television, his first appearance since June 19. The 86-year-old looked and sounded more tired than he did only a week ago, speaking in a hoarse voice and occasionally stumbling over his words.

The more-than 10 minute speech by the supreme leader was filled with warnings and threats directed toward the United States and Israel.

He downplayed Sunday’s U.S. strikes on three Iranian nuclear sites using bunker-buster bombs and cruise missiles, saying that U.S. President Donald Trump — who said the attack “completely and fully obliterated Iran’s nuclear program — had “exaggerated” its impact.

“They could not achieve anything significant,” he said.

UN nuclear watchdog confirms damage to Iran sites

The head of the U.N. nuclear watchdog, International Atomic Energy Agency Director Rafael Grossi, reiterated on Thursday that the damage done by Israeli and U.S. strikes at Iranian nuclear facilities “is very, very, very considerable.”

“I think annihilated is too much but it suffered enormous damage,” Grossi told French broadcaster RFI.

Iran’s Foreign Ministry spokesman, Esmail Baghaei, on Wednesday also conceded that “our nuclear installations have been badly damaged, that’s for sure.”

Khamenei has not been seen in public since taking shelter in a secret location after the outbreak of the war June 13 when Israel attacked Iranian nuclear facilities and targeted top military commanders and scientists.

Following Sunday’s U.S. attack on Iran’s nuclear facilities, Trump was able to help negotiate a ceasefire that came into effect on Tuesday.

Iranian leader warns US against further attacks

Khamenei claimed the U.S. had only intervened in the war because “it felt that if it did not intervene, the Zionist regime would be utterly destroyed.”

“It entered the war to save them, yet it gained nothing,” he said.

He said his country’s attack on the U.S. base in Qatar on Monday was significant, since it shows Iran “has access to important U.S. centers in the region and can act against them whenever it deems necessary.”

“The Islamic Republic was victorious and, in retaliation, delivered a hand slap to America’s face,” he said, adding “this action can be repeated in the future.”

“Should any aggression occur, the enemy will definitely pay a heavy price,” he said.

Since the ceasefire, life has been gradually returning to normal in Iran.

On Thursday, Iran partially reopened its airspace, which had been shut down since the war broke out, and shops in the capital of Tehran began to reopen, with traffic returning to the streets.

With the ceasefire, life slowly returns to normal in Iran

Majid Akhavan, spokesperson for the Ministry of Roads and Urban Development, said Iran had reopened the airspace for the eastern half of the country to domestic and international flights, including those transiting Iranian airspace.

Earlier this week, Tehran said 606 people had been killed in the conflict in Iran, with 5,332 people wounded. The Washington-based Human Rights Activists group released figures Wednesday suggesting Israeli strikes on Iran had killed at least 1,054 and wounded 4,476.

The group, which has provided detailed casualty figures from multiple rounds of unrest in Iran, said 417 of those killed were civilians and 318 were security forces.

At least 28 people were killed in Israel and more than 1,000 wounded, according to officials there.

Related Articles

Iran’s supreme leader makes first public statement since ceasefire declared in Israel-Iran war

Today in History: June 26, US Supreme Court legalizes same-sex marriage

POWs, abductees, defectors and separated families are the legacy of the Korean War

Iranian-backed hackers go to work after US strikes

‘Not something to celebrate’: As it turns 80 and faces dwindling global clout, can the UN survive?

During the 12-day war, Iran fired more than 550 missiles at Israel with a 90% interception rate, according to new statistics released by Israeli authorities on Thursday. Israel, meantime, hit more than 720 Iranian military infrastructure targets and eight nuclear-related sites, Israel said.

Trump has also asserted that American and Iranian officials will talk next week, giving rise to cautious hope for longer-term peace.

Iran has not acknowledged any such talks would take place, though U.S. Mideast envoy Steve Witkoff has said there has been direct and indirect communication between the countries. A sixth round of U.S.-Iran negotiations was scheduled for earlier this month in Oman but was canceled after Israel attacked Iran on June 13.

Iran has insisted that it will not give up its nuclear program. In a vote underscoring the tough path ahead, its parliament agreed Wednesday to fast-track a proposal that would effectively stop the country’s cooperation with the IAEA, which has monitored the program for years.

Associated Press writer John Leicester in Paris and Natalie Melzer in Nahariya, Israel, contributed to this report.