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Wall Street rallies to its best day since 2022
U.S. stocks rallied to their best day since 2022 in Wall Street's latest sharp swerve. The S&P 500 jumped 2.3% Thursday after a better-than-expected report on unemployment calmed worries about the slowing economy. The Dow Jones Industrial Average rose 683 points, and the Nasdaq composite gained 2.9%. Treasury yields also climbed in the bond market, a signal that investors are feeling less worried about the economy, after a report showed fewer workers applied for unemployment benefits last week.
Freuen's work celebrated in gallery exhibit
An exhibit of the early works on paper by Gina Freuen, artist and retired educator, will be showcased in a Spokane gallery exhibit.
Associated Press Business Briefs - Aug. 24, 2024
Business news and information from around the United States and the world.
Stocks edge lower on Wall Street
Stocks drifted lower on Wall Street, erasing the S&P 500's gains for the week. The S&P 500 slipped 0.4% Friday, but remains close to the record high it set last week. The Nasdaq composite fell 0.7% and the Dow slipped 0.1%. Nike dropped 20% after the shoe and athletic wear company missed Wall Street's revenue targets and cut its full-year sales guidance. Company executives said they expect sales to decline by single digits in the current fiscal year, citing a "challenging" environment. Treasury yields were mixed in the bond market after a closely watched report that showed inflation continues easing.
Wall Street coasts to the close of another winning week
U.S. stocks coasted to the close of their latest winning week, as Nvidia's stock continued to cool from its startling, supernova run. The S&P 500 slipped 0.2% Friday, but it remained near its all-time high set on Tuesday. The Dow Jones Industrial Average edged higher by less than 0.1%, and the Nasdaq composite fell 0.2%.
POAC concert showcases renowned pianist Tien Hsieh
The Pend Oreille Arts Council is welcoming renowned classical pianist Tien Hsieh for a Friday concert at the Panida Theater. An internationally acclaimed Steinway artist, Tien is a Sandpoint favorite having played twice as a soloist with the Spokane Symphony at The Festival at Sandpoint (Beethoven’s "Choral Fantasy" and Grieg’s "Piano Concerto"), and also at the Panida Theater as a previous POAC guest artist.
Most of Wall Street climbs on encouraging inflation report, but Big Tech slumps
Most U.S. stocks rose after the latest update on inflation bolstered Wall Street's belief that relief on interest rates may come as soon as September. Nearly 80% of the stocks in the S&P 500 climbed Thursday, and homebuilders, real estate owners and other stocks that benefit the most from easier interest rates led the way. But slumps for Nvidia, Tesla and other influential stocks in the small group that's come to be known as the Magnificent Seven masked the underlying strength. That dragged the S&P 500 down 0.9%. The Nasdaq fell 2% and the Dow rose 32 points. Bond yields tumbled.
Nvidia tumbles again as AI mania cools
Another slide for Wall Street heavyweight Nvidia kept U.S. indexes mixed, even as the majority of stocks rallied. The S&P 500 slipped 0.3% Monday. The Dow Jones Industrial Average rose 0.7%, and the Nasdaq composite fell 1.1%. Stocks of oil-and-gas and financial companies had some of the market's biggest gains, as seven out of every 10 stocks in the S&P 500 rose. But declines for a handful of winners from Wall Street's frenzy around AI offset all of those gains. Nvidia fell to a third straight loss and is down nearly 13% in that stretch. Treasury yields eased slightly in the bond market.
Nvidia rebound props up weakened Wall Street
The S&P 500 rose 0.4% Tuesday and neared its all-time high set a week earlier. The Nasdaq composite leaped 1.3% for its first gain in four days. Such strength came even as the majority of stocks on Wall Street outside artificial-intelligence winners fell.
Wall Street's smallest stocks roar back
Wall Street's split widened, as smaller stocks and other formerly unloved areas of the market rose up while superstar Big Tech stocks gave back more of their huge gains. Most stocks climbed Thursday after a surprisingly strong report on the U.S. economy raised hopes for profits at smaller companies. Continued weakness for a pocket of Big Tech stocks including Nvidia and Microsoft weighed on the S&P 500, however, and the index fell 0.5% after a healthy gain from earlier in the day evaporated. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite lost 0.9%.
S&P 500 rallies as tech rebounds
Big technology stocks drove a rally for U.S. indexes, as Wall Street grew even more convinced long-sought cuts to interest rates will be arriving soon. The S&P 500 jumped 1.6% Wednesday for its best day in five months. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite soared 2.6%. The widespread gains came as Treasury yields eased in the bond market after the Federal Reserve gave the clearest indication yet that it could begin lowering interest rates in September.
Market tumbles as companies, consumers worry
U.S. stocks fell sharply after reports showed that worries among consumers and businesses about President Donald Trump's policies may be hitting the economy. The S&P 500 sank 1.7% Friday for its worst day in two months. The Dow Jones Industrial Average dropped 1.7%, and the Nasdaq composite tumbled 2.2%. One report suggested U.S. business activity is close to stalling, with optimism slumping because of worries about tariffs and other potential policies from Washington. Reports on consumer sentiment and home sales also came in weaker than expected. Akamai Technologies weighed on the market after giving financial forecasts that fell short of expectations. Treasury yields fell.
Economic worries cause Wall Street to tumble 700 points
U.S. stocks tumbled after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy's growth. The S&P 500 sank 1.4% Thursday after a report showed U.S. manufacturing activity is still shrinking. The Dow Jones Industrial Average fell 1.2%, and the Nasdaq composite dropped 2.3%.
Wall Street inches higher ahead of inflation report
Stocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 36 points, or 0.1%. Walgreens Boots Alliance sank more than 22% after reporting results that fell shy of forecasts and cutting its outlook. The company said it could close hundreds more stores in the next three years. Treasury yields fell in the bond market. The government releases a closely watched report on inflation on Friday that could influence the Federal Reserve's next move on interest rates.
Lions support Priest Lake park
As a show of appreciation for the club’s contributions (“We've collected about 10,000 pounds of plastic film,” Rose said) the company is offering a free bench that will be added with the wall in the spring of 2025.
Bonner County History - May 2, 2024
Bonner County Historical Society and Museum shares interesting stories of the community's people, places, and events.
Nvidia climbs to Wall Street's mountaintop as indexes edge upward
The staggering run for Nvidia's stock carried it to the market's mountaintop Tuesday, as it became the most valuable company on Wall Street. Stock indexes, meanwhile, ticked to more records following the latest signal that the U.S. economy's growth may be slowing without cratering.
Wall Street wavers following Powell testimony
Stocks closed mixed on Wall Street after testimony from Federal Reserve Chair Jerome Powell in front of Congress provided little new guidance on the Fed's plans on when it might lower interest rates. The S&P 500 and the Nasdaq composite each rose 0.1% Tuesday, adding to their recent records. The Dow Jones Industrial Average fell 52 points, or 0.1%. Helen of Troy, which makes Osprey and OXO products, sank nearly 28% after posting results that fell far short of forecasts. Treasury yields rose slightly in the bond market. The yield on the 10-year Treasury edged up to 4.29%.
Wall Street rises to the edge of records
U.S. stocks ticked to the edge of records as Wall Street's momentum keeps pushing it upward. The S&P 500 climbed 0.3% Monday but finished just shy of its all-time high set last week. The Dow Jones Industrial Average rose 0.5% to its own record, while the Nasdaq composite added 0.4% to end a bit short of its high. Some of the market's best performing areas were ones that do best when former President Donald Trump's chances for re-election look better. Trump Media & Technology Group, the company behind Trump's Truth Social platform, soared by nearly a third. Bitcoin and longer-term Treasury yields also rose.
'Found Fragments' showcases fine art collage, assemblage
The POAC Gallery is hosting its newest exhibit, "Found Fragments," centered around the art form and highlighting the artwork of Daryl and Judy Baird, Molly Gentry, Audrey Milch, and Teresa Rancourt. This thought-provoking collection of fine art collage and assemblage pieces will be on display from April 5-30. An opening reception is being held Friday, April 5, from 5-7-p.m.