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Stock market today: Wall Street is heading lower as higher bond yields keep biting

Published Sat, 22 Feb 2025 10:25:01 GMT

NEW YORK (AP) — Stocks are modestly lower on Wall Street, adding to their losses following a sharp two-day slide, as the market remains under pressure from rising bond yields. After mostly holding steady in the early going, the S&P 500 was down 0.3% afternoon trading Thursday. The Dow Jones Industrial Average was down 134 points, or 0.4%, at 34,631, as of 2:22 p.m. Eastern time, and the Nasdaq composite was 0.7% lower.Technology stocks were among the biggest drag on the market, with some exceptions. Cisco Systems was a bright spot, rising 3.8%. The maker of networking equipment reported stronger profit and revenue for the latest quarter than analysts expected.Walmart did as well, while also raising its forecast for full-year results. But its stock swung from an early gain to a loss of 1.8%. Stocks broadly have been retreating in August following a torrid first seven months of the year. That’s in part because a swift rise in bond yields is forcing a reassessment of how much to pa...

Canadian fintech valuations hit pandemic-era levels as investment sinks: report

Published Sat, 22 Feb 2025 10:25:01 GMT

TORONTO — Investment in Canadian fintech companies plunged in the first half of the year as valuations fell to levels not seen since the beginning of the pandemic, says a report by KPMG in Canada.Fintech investment in Canada, including venture capital, private equity and merger and acquisition activity, totalled US$353.7 million across 57 deals in the first six months of 2023.The result was down from a total of $1.09 billion across 87 deals in the second half of 2022 and US$834.1 million across 109 deals in the first half of last year, according to data compiled by PitchBook for KPMG in Canada.The report said the first half of 2023 was one of the weakest for valuations since the first half of 2020.That was in line with the challenges faced in the global fintech market during the first half of the year. Investment dropped to US$52.4 billion across 2,153 deals from US$63.2 billion across 2,885 deals in the second half of 2022, according to KPMG international’s latest bi-annual r...

In a bid to unseat the long-ruling ANC, 7 South African parties reach a coalition agreement

Published Sat, 22 Feb 2025 10:25:01 GMT

JOHANNESBURG (AP) — Seven opposition parties in South Africa reached an agreement Thursday to form a coalition to unseat the ruling African National Congress if it fails to gain an outright majority in next year’s general election.The parties, which include the country’s main opposition party, the Democratic Alliance, and a string of small parties, agreed on what they called a Multi-Party Charter for South Africa. The agreement followed two days of meetings in Kempton Park, east of Johannesburg.The ANC is the party of the late Nelson Mandela and when the 2024 elections come around, it will have been in government for 30 years since the end of apartheid. The party led the anti-apartheid movement and came to power in South Africa’s first all-race election in 1994, when Mandela was elected president.But its support has slowly waned over the years amid criticism that it has failed to provide basic services and ease poverty for millions of the country’s Black majority. ...

Chicago real-estate organization donates $1.5M to Maui wildfire relief

Published Sat, 22 Feb 2025 10:25:01 GMT

CHICAGO -- It has been more than a week since the deadly wildfires erupted across Maui with the death toll at 111 and expected to go up. Establishments from homes, restaurants and historic landmarks and burned down and local groups are extending a hand any way they can. The Realtor's Relief Foundation, an organization based out of Chicago has been helping disaster victims for more than two decades. The money was raised by real estate agents across the country.The foundation is donating $1.5 million and is partnering with the Realtors Association of Maui to distribute the money. Maui fires: Schools reopening, traffic resuming in signs of recovery The foundation's president hopes it will assist Maui residents with their housing payments."This is an opportunity for us to get money in people's hands very quickly," Mike McGrew, Realtors Relief Foundation President said. McGrew said residents will have the chance to apply and receive up to $3,000, adding its money they will not have to ...

Teen, 15, struck by disengaged wheel from semi in NW Indiana : ISP

Published Sat, 22 Feb 2025 10:25:01 GMT

LAKE COUNTY, Ind. -- A 15-year-old boy may be suffering potentially life-threatening injuries after police said he was struck by a wheel that disengaged from a moving semi-truck in Northwest Indiana Tuesday morning. Indiana State Police reported to the crash on I-80 eastbound where a vehicle was parked on the side of the road and occupants were changing a flat tire. At the same time, a semi-truck was eastbound at the same location when, due to a mechanical issue, a wheel from the trailer disengaged from the rear tandem. Funeral services held for 9-year-old girl fatally shot by neighbor in Portage Park Police said the tire was still attached to the rim when it continued to travel east along the barrier wall, when it struck a 15-year-old boy that was assisting the tire change. The boy was transported to a local hospital and later transported to a hospital in Chicago with potentially life-threatening injures. Four other individuals outside of the vehicle sustained injures as well. T...

Thursday Forecast: Temps in upper 70s with isolated showers

Published Sat, 22 Feb 2025 10:25:01 GMT

Thursday: Showers and some thunderstorms are likely this morning as southwest winds gust up to 30-35 mph under mostly cloudy skies. Chicago Area Radar | WGN TVThe clouds will decrease this afternoon, but a slight chance for showers or storms will linger in areas east of I-57.  Breezy northwest winds will help keep temperatures in the upper 70s this afternoon.  Chicago Weather | Tom Skilling and the WGN Weather Center's Forecast (wgntv.com)Thursday Night: Tonight, the skies will become clear.  Some patchy fog is possible as lows fall into the upper 50s.

Jonathan Toews has a farewell message to Blackhawks, Chicago

Published Sat, 22 Feb 2025 10:25:01 GMT

CHICAGO — While he didn't have an answer on his future in the sport of hockey, Jonathan Toews was very clear about his appreciation for Chicago in his latest post on social media.On Instagram on Thursday, Toews posted a lengthy thank you to the Blackhawks along with their fans four months after taking the ice with the franchise for the final time. The team announced before the season finale that a contract extension would not be offered to the captain, who has spent his entire NHL career with the franchise. On the post, Toews put up a video of a number of moments of his career with the Blackhawks, from his draft day in 2006 through a trio of Stanley Cup titles, and his final game with the team on April 13 at the United Center. Here is the text of Toews' message to the Blackhawks and Chicago fans on his Instagram post on Thursday.It’s hard to find words to describe the 16-year journey that has made this city my home.Aside from the 3 Stanley Cups, the parades, and the countless memori...

Maui official explains why sirens weren't activated during wildfire evacuations

Published Sat, 22 Feb 2025 10:25:01 GMT

HONOLULU (KHON) – Officials in Maui are defending their decision not to activate the county's emergency sirens during the wildfires that tore through parts of the island last week. Hawaii created what it touts as the largest system of outdoor alert sirens in the world after a 1946 tsunami that killed more than 150. On official websites for both the county and state, the use of the sirens is described as a warning system for "both natural and human-caused events; including tsunamis, hurricanes … wildfires." In the wake of last week's devastation, residents have said that the sirens may have helped people escape danger more quickly. Experts and community leaders who spoke with Nexstar's KHON have also identified sirens as additional tools that could have helped. Hawaii created what it touts as the largest system of outdoor alert sirens in the world after a 1946 tsunami that killed more than 150. (KHON)But at a news conference on Wednesday, Maui officials defended t...

ACL releases 2023 performance schedule

Published Sat, 22 Feb 2025 10:25:01 GMT

AUSTIN (KXAN) — The Austin City Limits Music Festival released its performer schedule Thursday for Weekend One and Weekend Two.For 2023, ACL will have eight stages with performances as early as 12:45 p.m. and the latest ending at 10 p.m.Weekend One begins Friday, Oct. 6 and ends Sunday, Oct. 8. Weekend Two begins Friday, Oct. 13 and ends Sunday, Oct. 15.Take a look at the full schedule here.

Austin's 41-day streak of consecutive 100° days is the longest in recorded history

Published Sat, 22 Feb 2025 10:25:01 GMT

Editor’s Note: The video above shows the latest from the KXAN First Warning Weather team.AUSTIN (KXAN) — Austin is currently experiencing the longest stretch of triple-digit heat in recorded history.Camp Mabry, Austin's official weather reporting site, has reached 100° or hotter every day since July 8.That means temperatures have reached the century mark for 41 days in a row. With records dating back to the 1890s, that's the longest stretch of triple-digit temperatures ever recorded in Austin. MORE HEAT RECORDS: What is Austin's hottest month ever? The previous record of 27 days was set between July 17 and Aug. 12, 2011. That summer went on to have a record-breaking 90 days of triple-digit heat. How often does Austin hit 100°? Here’s a breakdown by date, month, year and decade Meanwhile, an 20-day streak is underway at Austin-Bergstrom International Airport, with temperatures hitting 100° or above every day since July 29. That ties as the third-longest of all time.An 1...