Stillwater’s Luca Jarvis commits to Gophers hockey program

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Bob Motzko and Co. continue to stockpile Minnesotans for the future of the Gophers hockey program. On Wednesday, it was Lakeland native Luca Jarvis committing to the U.

“I am beyond blessed and honored to announce my commitment to play Division 1 hockey and further my education at the University of Minnesota,” Jarvis posted on his Instagram page. “I am extremely grateful for my family, friends, teammates, coaches, advisors, and everyone who has helped me to this point. #gogophs”

Jarvis tallied 24 goals and 24 assists for Stillwater as a sophomore while helping the Ponies reach the Class 2A state title game.

Jarvis is expected to play for the Youngstown Phantoms in the USHL team in the upcoming campaign. He posted a pair of assists in five games for Youngstown after the last year’s high school season. The earliest Jarvis figures to skate for the Gophers is in the 2026-27 season.

His announcement comes amid a wave of Minnesotan commitments to the Gophers. Wyatt and Brooks Cullen of Moorhead both committed to the Gophers this week, joining Lakeville North forward Gunnar Conboy and netminder Carter Casey, who goaltended for Grand Rapids last season.

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Trump will highlight Apple’s plans to invest $100 billion more in US, raising total to $600 billion

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By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump on Wednesday is expected to celebrate at the White House a commitment by Apple to increase its U.S. investments by an additional $100 billion over the next four years.

“Today’s announcement with Apple is another win for our manufacturing industry that will simultaneously help reshore the production of critical components to protect America’s economic and national security,” White House spokeswoman Taylor Rogers said.

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Apple had previously said it intended to invest $500 billion domestically, a figure it will now increase to $600 billion. Trump in recent months has criticized the tech company and its CEO, Tim Cook, for efforts to shift iPhone production to India to avoid the tariffs his Republican administration had planned for China.

While in Qatar earlier this year, Trump said there was “a little problem” with Apple and recalled a conversation with Cook in which he said he told the CEO, “I don’t want you building in India.”

India has incurred Trump’s wrath, as the president signed an order Wednesday to put an additional 25% tariff on the world’s most populous country for its use of Russian oil. The new import taxes to be imposed in 21 days could put the combined tariffs on Indian goods at 50%.

As part of the Apple announcement, the investments will be about bringing more of its supply chain and advanced manufacturing to the U.S.

Apple Inc., which is based in Cupertino, California, didn’t immediately comment Wednesday.

Bloomberg News first reported the announcement of Apple’s additional investment commitment.

Trump to put additional 25% import taxes on India, bringing combined tariffs to 50%

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By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

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The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.

Trump’s moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president.

As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi.

Trump had previewed for reporters on Tuesday that the tariffs would be coming, saying the U.S. had a meeting with Russia on Wednesday as the Trump administration tries to end the war in Ukraine.

“We’re going to see what happens,” Trump said about his tariff plans. “We’ll make that determination at that time.”

In 2024, the U.S. ran a $45.8 billion trade deficit in goods with India, meaning it imported more than it exported, according to the U.S. Census Bureau.

At a population exceeding 1.4 billion people, India is the world’s largest country and represented a way for the U.S. to counter China’s influence in Asia. But India has not supported the Ukraine-related sanctions by the U.S. and its allies on Moscow even as India’s leaders have maintained that they want peace.

The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products.

Wall Street holds steady following mixed profit reports from McDonald’s, Disney and Shopify

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By STAN CHOE, Associated Press Business Writers

NEW YORK (AP) — Wall Street is holding relatively steady on Wednesday following a mixed set of profit reports from such giants as McDonald’s and The Walt Disney Co.

The S&P 500 was up 0.2% in morning trading. The Dow Jones Industrial Average was down 20 points, or less than 0.1%, as of 10:35 a.m. Eastern time, and the Nasdaq composite was 0.3% higher.

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McDonald’s and Shopify rose following their profit reports, while Super Micro Computer tumbled after its earnings and revenue for the latest quarter came in below analysts’ expectations. Disney fell after its earnings beat forecasts but its revenue fell short

The mixed trading continues a cooldown for the U.S. stock market after it swung from its worst day since May on Friday to its best since May on Monday. Worries are high that President Donald Trump’s tariffs may be hurting the economy, but hopes for coming cuts to interest rates by the Federal Reserve and a parade of stronger-than-expected profit reports from U.S. companies have helped steady the market.

McDonald’s climbed 2.6% after the restaurant chain reported stronger profit and revenue for the spring than analysts expected. Its U.S. restaurants benefited from customers paying more at each of their visits, while a meal tied to the “Minecraft” movie proved to be a hit.

Shopify jumped 20.2% after the company, which helps businesses sell on the internet, said it made more in revenue last quarter than expected. Analysts also said the company’s forecast for revenue in the current quarter suggests the strong trends are continuing.

Arista Networks was one of the strongest forces lifting the S&P 500 and leaped 16.8% after the networking company delivered a bigger profit for the latest quarter than expected. Its forecast for revenue in the current quarter also topped forecasts.

They helped offset a 20% drop for Super Micro Computer, which gave back some of the huge gains the server maker has made recently. Super Micro came into the day with a nearly 88% gain for its stock so far this year, but it reported weaker profit and revenue for the latest quarter than analysts expected. It also gave a forecast for profit in the current quarter that fell short of what Wall Street had penciled in.

Disney dropped 3.4% after its profit beat forecasts but its revenue fell short. Analysts said investors may have been looking for Disney to boost its profit forecast by a bigger amount.

The NFL also announced that it had entered into a nonbinding agreement with Disney’s ESPN, which will give the sports broadcaster the NFL Network, NFL Fantasy and the rights to distribute the RedZone channel. The NFL will get a 10% stake in ESPN in the proposed deal.

Chip company Advanced Micro Devices fell 7.9% after its profit for the latest quarter only matched analysts’ expectations. Analysts said the company’s financial forecasts for upcoming results also looked solid, but that may not have been enough for investors after its stock had already soared 44.3% for the year so far coming into the day.

Companies are under pressure to deliver bigger profits in order to justify the big gains their stock prices have made since the U.S. market hit a low point in April. The S&P 500 is just a bit below its record, which was set late last month, and the big rally fueled criticism that the broad market has become too expensive.

In the bond market, Treasury yields also held relatively steady.

The yield on the 10-year Treasury edged down to 4.21% from 4.22% late Tuesday. It’s well below where it was last week, before Friday’s much weaker-than-expected report on the U.S. job market ignited worries that Trump’s tariffs are pushing employers to hold back on hiring.

That report has traders on Wall Street betting heavily that the Federal Reserve will need to cut interest rates at its next meeting in September. Such cuts can give the economy and investments prices a boost, but they also can push inflation higher.

In stock markets abroad, indexes rose modestly across much of Europe and Asia.

AP Business Writers Yuri Kageyama and Matt Ott contributed.