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AP Business SummaryBrief at 6:44 p.m. ESTDURHAM, N.C. (AP) — Duke coach Manny Diaz says quarterback Maalik Murphy will face discipline “internally” after extending both of his middle fingers skyward in celebration after throwing a long touchdown pass early in the . Diaz said Monday that Murphy's exuberant gesture, caught on the ACC Network national broadcast, was directed at offensive coordinator Jonathan Brewer in the booth after a bit of practice “banter” from a few days earlier. Diaz said the Texas transfer just let his excitement get away from him but still called it “unacceptable in our program." “There was a practice in the middle of last week when we throwing post after post after post, and we weren't completing them,” Diaz said. “And it was again and again and again and again. And at the end of that, there was a remark made in jest that, ‘If you throw a post for a touchdown in the game, then you can flick me off,’ from Coach Brewer.” Murphy's gesture came after he uncorked a deep ball from deep in Duke's own end and caught Eli Pancol perfectly in stride across midfield, with Pancol racing untouched for an 86-yard score barely 2 minutes into the game. As he began skipping downfield to celebrate, Murphy chest-bumped teammate Star Thomas and then extended both arms in the air with his middle fingers raised. Brewer said Monday he missed the gesture in real time, but then saw it on a replay moments later. “Some things you say on the field when you're coaching obviously isn't meant to be taken literally when you're trying to get after somebody in that world,” Brewer said. Murphy threw for 332 yards and three touchdowns with three interceptions in the 31-28 win for the Blue Devils (8-3, 4-3 Atlantic Coast Conference), who close the regular season at Wake Forest. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up . AP college football: and
USC QB Miller Moss enters transfer portal after losing starting job to Jayden MaiavaThe S&P 500 ( ^GSPC 0.56% ) soared 26.3% (including dividends) in 2023, and it's up 27.8% in 2024 so far. That means it's on track for consecutive annual gains of at least 20% for the first time since 1999. In fact, going back to when the S&P 500 was established in 1957, that has only happened on six occasions. History suggests it could lead to another strong year in 2025, but the data is skewed by a period of time many investors would probably rather forget. Back-to-back gains of 20% (or more) are extremely rare The S&P 500 has delivered a compound annual return of 10.5% since 1957, so its performances during 2023 and 2024 are already significantly above average. Let's dive into some historical data below, and examine what happened every other time the index gained at least 20% in consecutive years. The S&P 500 generated a 37.2% return in 1975, and then a 23.8% gain in 1976. That strong back-to-back performance was followed by a 7.2% loss in 1977. The index generated a 21.5% return in 1981, and then a 22.5% gain in 1982. That occasion was followed by a modest 6.2% return in 1983. The S&P was up 37.5% in 1995, followed by a 22.9% gain in 1996, a 33.3% gain in 1997, a 28.5% gain in 1998, and a 21% gain in 1999. The streak ended with a 9.1% loss in the year 2000. In hindsight, that incredible five-year streak between 1995 and 1999 became known as the dot-com technology bubble, when internet companies surged in value without having the revenue, earnings, or fundamentals to support their gains. The dot-com bubble became the dot-com bust with a brutal three-year run of losses for the S&P 500 between 2000 and 2002. It took seven years for the index to reclaim its all-time high from that period. If we calculate the average S&P result from 1977, 1983, 1997, 1998, 1999, and 2000, we get an average return of 12.1%. That might be the gain we can expect in 2025, based purely on the above historical data alone. As I mentioned earlier, the data is heavily skewed by the dot-com era, which was an unprecedented time in stock market history. But we are in the midst of another technology boom right now, this time driven by artificial intelligence (AI). This isn't 1999, but the S&P 500 is unquestionably expensive AI has played a key role in the incredible S&P 500 gains during 2023 and 2024. Nvidia ( NVDA 2.15% ) , for example, has added a staggering $3.1 trillion to its market capitalization over the last two years, primarily based on sales of its graphics processing units ( GPU s) for the data center that are used to develop AI . Nvidia is on track to generate $129 billion in revenue during its current fiscal year, which will be a near-fivefold increase from two years ago. In other words, the AI boom is underpinned by tangible financial results, which wasn't the case with the internet bubble. In fact, Morgan Stanley predicts four tech companies -- Microsoft , Amazon , Alphabet , and Meta Platforms -- will invest a combined $300 billion in AI infrastructure during 2025 alone. Those four companies, plus Nvidia, represent 22.6% of the total value of the entire S&P 500, so it will be great for the broader market if that spending eventually pays off. With that said, the S&P is expensive right now. It trades at a price-to-earnings (P/E) ratio of 24.7, which is a 36% premium to its long-term average of 18.1 going back to the 1950s. However, we are still comfortably below the dot-com-era peak of around 46, which suggests valuations are elevated but not necessarily irrational just yet. Opposing economic forces could spark volatility in 2025 Given the valuation of the S&P 500, next year will have to be almost perfect in order for investors to see another strong return. That means corporate America will have to meet expectations when it comes to earnings growth, and macroeconomic conditions need to remain supportive. On the one hand, the U.S. economy will be supported by falling interest rates. The Federal Reserve has already cut rates twice since September, and there should be more on the way . On the other hand, the incoming Trump administration plans to levy sizable tariffs on important trading partners like Mexico and Canada, which could disrupt global trade and potentially even spark inflation. The last time President Trump was in office, he imposed tariffs on steel and aluminum imports from practically every country in the world. Many countries (like China) decided to retaliate with tariffs of their own, sparking fears of a painful trade war that could have derailed the global economy. That was a key reason the S&P 500 almost slipped into bear market territory during 2018. So if tariffs are on the agenda as soon as President-elect Trump moves back into the White House in January, the stock market could be in for a rough ride in 2025.
AP News Summary at 9:54 a.m. ESTA missing 31-year-old man has been found safe, according to the Ottawa Police Service. CTV News Ottawa has removed all identifying information. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks 20 Of The Best Gift Ideas For Men Under $200 13 Of The Best Self-Care Gifts You Can Find On Amazon Canada 19 Of The Best Tech Gifts Under $100 Home Our Guide To The Best Cookware Sets In Canada In 2024 (And Where To Get Them) Our Guide To The Best Space Heaters In Canada In 2024 (And Where To Get Them) Our Guide to the Best Portable Induction Cooktops in Canada in 2024 (And Where to Get Them) Gifts 21 Of The Best Gift Ideas For Women Under $300 19 Of The Best Stocking Stuffers For Teenagers 15 Useful Amazon Products That Make Great Stocking Stuffers Beauty Our Guide To The Best Self Tanners You Can Get In Canada 20 Anti-Aging Skincare Products That Reviewers Can’t Stop Talking About 12 Budget-Friendly Makeup Brushes And Tools Worth Adding To Your Kit Deals 75+ Of The Best Amazon Canada Black Friday Sales, Deals, And Discounts For 2024 The Good Stuff: Our Favourite Black Friday Deals On Amazon Canada Amazon Canada's Black Friday Week Is On: This Smart Thermometer Will Make Holiday Cooking So Much Easier (And It’s 20% Off Right Now) Ottawa Top Stories 'Dude, Where's My Bus?' Ottawa man fed up with OC Transpo makes documentary exploring transit troubles Ottawa police charge two adults, teenager following Orleans kidnapping and robbery Ottawa to begin full enforcement of 3-item garbage limit on Monday: Here’s what you need to know Ship stuck in St. Lawrence near Morrisburg, Ont. being refloated What's happening in Ottawa this weekend: Nov.29-Dec. 1 Here's how it feels this Friday in Ottawa Real GDP per capita declines for 6th consecutive quarter, household savings rise SIU investigating death of Ottawa woman following wellness check CTVNews.ca Top Stories W5 Investigates | A 'ticking time bomb': Inside Syria's toughest prison holding accused high-ranking ISIS members In the last of a three-part investigation, W5's Avery Haines was given rare access to a Syrian prison, where thousands of accused high-ranking ISIS members are being held. 'Mayday!': New details emerge after Boeing plane makes emergency landing at Mirabel airport New details suggest that there were communication issues between the pilots of a charter flight and the control tower at Montreal's Mirabel airport when a Boeing 737 made an emergency landing on Wednesday. Federal government posts $13B deficit in first half of the fiscal year The Finance Department says the federal deficit was $13 billion between April and September. Weather warnings for snow, wind issued in several parts of Canada Winter is less than a month away, but parts of Canada are already projected to see winter-like weather. Canadian news publishers suing ChatGPT developer OpenAI A coalition of Canadian news publishers is suing OpenAI for using news content to train its ChatGPT generative artificial intelligence system. Cucumbers sold in Ontario, other provinces recalled over possible salmonella contamination A U.S. company is recalling cucumbers sold in Ontario and other Canadian provinces due to possible salmonella contamination. Nick Cannon says he's seeking help for narcissistic personality disorder Nick Cannon has spoken out about his recent diagnosis of narcissistic personality disorder, saying 'I need help.' BREAKING | Supreme Court affirms constitutionality of B.C. law on opioid health costs recovery Canada's top court has affirmed the constitutionality of a law that would allow British Columbia to pursue a class-action lawsuit against opioid providers on behalf of other provinces, the territories and the federal government. Real GDP per capita declines for 6th consecutive quarter, household savings rise Statistics Canada says the economy grew at an annualized pace of one per cent during the third quarter, in line with economists' expectations. Atlantic Some closures, power outages in the Maritimes with first storm of the winter season Parts of the Maritimes are experiencing their first winter storm on Friday with a messy weather system moving north from the eastern U.S. Woman charged with child pornography, sexual assault in Moncton The New Brunswick RCMP says a 35-year-old woman is facing a number of charges, including sexual assault, in connection with child pornography. Suspect taken into custody after weapons complaint at Halifax high school A suspect has been taken into custody after a high school in Halifax was placed in hold and secure Friday morning. Toronto Black Friday sales stretch out for weeks: retail analyst Black Friday is officially the busiest shopping day of the year, even surpassing Boxing Day and Super Saturday, the final Saturday before Christmas. Analysts say retailers are rolling out Black Friday sales sooner now, making them last longer into Cyber Monday and beyond. Cucumbers sold in Ontario, other provinces recalled over possible salmonella contamination A U.S. company is recalling cucumbers sold in Ontario and other Canadian provinces due to possible salmonella contamination. House fire in North York sends 6 people to hospital Six people are in hospital as a precaution after a fire broke out in a North York home overnight. Montreal Quebec trying to 'minimize' impact of health care cuts on services Eliminating $1.5 billion in health care spending is likely to have an impact on services, but Quebec says it will try to 'minimize' it. One woman killed, one hurt in armed robbery attempt southeast of Quebec City One woman was killed and another was badly injured following an alleged armed robbery attempt at a clothing store southeast of Quebec City. 'Mayday!': New details emerge after Boeing plane makes emergency landing at Mirabel airport New details suggest that there were communication issues between the pilots of a charter flight and the control tower at Montreal's Mirabel airport when a Boeing 737 made an emergency landing on Wednesday. Northern Ontario Another 60 cm of snow possible in the Sault as severe weather continues Closures and cancellations are piling up in Sault Ste. Marie as a major winter storm continues for another day Friday. California man who went missing for 25 years found after sister sees his picture in the news It’s a Thanksgiving miracle for one California family after a man who went missing in 1999 was found 25 years later when his sister saw a photo of him in an online article, authorities said. Two arrested following shooting on Manitoulin Island The Manitoulin detachment of the Ontario Provincial Police have two people in custody following a shooting incident in Wikwemikong Unceded Territory on Thursday. Windsor Breaking | Windsor man convicted on all counts by Chatham judge The Windsor man charged in connection to the double fatal Retrofest collision has been convicted on all counts. $4,000 in products reported stolen from storage container Chatham-Kent police are looking for suspects after $4,000 in products were stolen from a storage container in Chatham. Windsor man charged in child pornography investigation A Windsor man has been charged following a child pornography investigation. London Sarnia police lay charges after women wakes up to naked man in her home An arrest has been made after a break and enter call in Sarnia where a woman woke up to a naked man in her home. Police said after investigating, officers were able to identify a 26-year-old man who was also wanted on an outstanding warrant in London. Knights' Boulton hit with eight-game suspension The left winger has been suspended eight games, retroactive to Nov. 23 against Saginaw, when he was handed a major penalty for slashing, along with a game misconduct. 'Shock, disappointment, and excitement': South Bruce not selected for nuclear waste project Anja Vandervlies and Michelle Stein could hardly believe it when they heard South Bruce was not going to host Canada’s first permanent storage facility for nuclear waste. Kitchener Erick Buhr to represent himself during sentencing for second-degree murder in death of his grandmother, Viola Erb Erick Buhr will represent himself as he prepares for sentencing after being convicted of second-degree murder in the death of his grandmother, Viola Erb. One dead, another hurt in Cambridge shooting Waterloo Regional Police are investigating a fatal shooting in Cambridge. Police looking for missing teen last seen in Cambridge Waterloo Regional Police are looking for information about the whereabouts of a missing teen. Barrie 50 cms of snow across central Ontario expected this weekend Environment Canada has released snow squall warnings and watches for our region. Here are the school buses cancelled as wintry weather arrives The winter weather has arrived, and with it come the first school bus cancellations of the season. Individuals living in encampment in Barrie's south end given notice to vacate Several police officers and city staff attended a homeless encampment in Barrie’s south end on Thursday morning to inform the individuals living there they would have to vacate the area. Winnipeg Water main break causing Friday morning traffic delays in Winnipeg Winnipeg drivers are being warned of traffic delays on Friday morning due to a water main break. A tale of two downtowns: Restaurants opening and closing show complexity of downtown revival Proposed developments and new businesses opening are fueling optimism for some on a revival of downtown Winnipeg, but some business owners say the present remains problematic. Winnipeg winter route parking ban to start next week Winnipeg’s annual winter route parking ban is set to begin next week. Calgary Calgary Mayor Jyoti Gondek running for re-election Calgary Mayor Jyoti Gondek has announced she will run for re-election in the next municipal election in 2025. Multiple crashes reported on Deerfoot Trail Calgary police say there are at least three major crashes on Deerfoot Trail on Friday morning as frigid overnight temperatures likely led to icy conditions in many areas. Black Friday deals look to appeal to budget-friendly Calgary shoppers Black Friday sales are in full swing as annual holiday shopping returns and Calgary retailers compete harder than ever to coax budget-conscious shoppers into a deal. Edmonton Pedestrian hospitalized after Friday morning crash in central Edmonton A woman is in hospital with serious injuries after a crash on Friday morning. Oilers rightly optimistic they can pull themselves into NHL playoff picture. Again Hockey fans know the adage: U.S. Thanksgiving, while unofficial, serves as a great calendar marker in predicting which teams will make the National Hockey League playoffs. Brazeau County crash kills teenage passenger A 17-year-old girl was killed in a crash in Brazeau County on Thursday. Regina Crown gives final remarks in Ruben Manz case as argument to jury concludes The prosecution has presented their closing remarks against Ruben Manz to a 13-person jury, bringing an end to arguments before their sequestering. Federal government posts $13B deficit in first half of the fiscal year The Finance Department says the federal deficit was $13 billion between April and September. Canada Post temporarily laying off striking workers, union says The union representing Canada Post workers says the Crown corporation has been laying off striking employees as the labour action by more than 55,000 workers approaches the two-week mark. Saskatoon Ontario men arrested after Saskatoon police seize 16 kilos of meth, nearly $70K in cash Saskatoon police say officers arrested three 20-year-old men Wednesday afternoon and seized nearly $70,000, in cash as well as various illicit drugs. Extreme cold warning issued for Saskatoon Environment Canada has issued an extreme cold warning for parts of central Saskatchewan, including Saskatoon, on Thursday. Sask. forecasting $743.5M deficit in mid-year financial report, up $470.5M from budget The provincial government says increases to crop insurance claims later in the growing season are a main reason for Thursday’s mid-year deficit forecast of $743.5 million, which is up more than $470 million from the budget. Vancouver Man facing 10 charges after Richmond, B.C., crime spree A Metro Vancouver man has been charged with nine counts of breaking and entering and one count of mischief after a five-day crime spree last November. Surrey Police Service officially takes over from the RCMP after years-long saga The years-long saga over who will police the city of Surrey has reached its final chapter. Police renew appeal for information 12 years after Victoria woman's disappearance On the anniversary of her disappearance, police in Victoria renewed their appeal for information in Emma Fillipoff’s 12-year-old missing persons case. Vancouver Island Police renew appeal for information 12 years after Victoria woman's disappearance On the anniversary of her disappearance, police in Victoria renewed their appeal for information in Emma Fillipoff’s 12-year-old missing persons case. Man facing 10 charges after Richmond, B.C., crime spree A Metro Vancouver man has been charged with nine counts of breaking and entering and one count of mischief after a five-day crime spree last November. How changing catch-and-release fishing practices can boost salmon survival A study has found catch-and-release sportfishing practices that leave salmon with injuries, particularly to their eyes, cause higher mortality than earlier research suggested. Kelowna Kelowna, B.C., to host the Memorial Cup in the spring of 2026 The Western Hockey League's Kelowna Rockets will host the Memorial Cup in the spring of 2026, the Canadian Hockey League said Wednesday. 545 vehicles impounded in 332 days: BC Highway Patrol pleads for drivers to slow down Mounties with the BC Highway Patrol in Kelowna say they've impounded more than 545 vehicles for excessive speed and aggressive driving so far this year. That works out to more than 1.6 per day. Man in hospital following targeted shooting in Kamloops Police are appealing for information on a targeted shooting that resulted in the hospitalization of a man in Kamloops. Stay Connected
Mysterious googly eyes go viral after appearing on public art in OregonWhy we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
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