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NEW YORK (AP) — The leaders of Kamala Harris' presidential campaign insist they simply didn't have enough time to execute a winning strategy against Donald Trump , pointing to “ferocious" political headwinds that were ultimately too much to overcome in the 107-day period after President Joe Biden stepped aside . Harris' leadership team, speaking on the “Pod Save America” podcast that aired on Tuesday, defended strategic decisions over the campaign's closing days, some of which have faced scrutiny in the weeks since Trump's decisive victory . Specifically, they defended Harris' outreach to Republican voters, her unwillingness to distance herself from Biden, her silence on Trump's attacks on her transgender policies and her inability to schedule an interview with popular podcaster Joe Rogan. “In a 107-day race, it is very difficult to do all the things you would normally do in a year and a half, two years,” said Harris campaign senior adviser Jen O'Malley Dillon. David Plouffe, another senior adviser, added, “There was a price to be paid for the short campaign." The pointed reflections on Harris' loss came just before she declared she was “proud of the campaign we ran” during a conference call with supporters as the party begins a painful process of self-examination. Trump won every swing state and made gains among key voting groups traditionally aligned with Democrats — young voters and voters of color, among them. Backed by the resounding win, the Republican president-elect is claiming a mandate to enact his populist agenda as he prepares to return to the White House on Jan. 20. Harris acknowledged her defeat during the conference call, but praised the political organization her team built that featured more than 408,000 volunteers who knocked on nearly 20 million doors and made over 219 million phone calls. “What we did in 107 days was unprecedented,” she said, noting that her campaign also raised more than $1.4 billion, which marks a record for U.S. presidential campaigns. Still, Harris' campaign finished the election in debt . And none of the Harris advisers acknowledged any mistakes during the wide-ranging podcast interview hosted by former Democratic operatives. Instead, they indicated that Harris had few options given the compressed timeframe and the broad anti-incumbent headwinds that have challenged elected officials across the world. They also gave Trump's team some credit. They specifically pointed to Trump's closing attack ad, which highlighted Harris' support for taxpayer-funded sex reassignment surgeries for transgender prisoners. “Obviously, it was a very effective ad at the end,” said Harris deputy campaign manager Quentin Fulks. “I think that it made her seem out of touch.” The campaign tested several potential response ads but, in the end, decided it was best to avoid a specific rebuttal. “There’s no easy answers to this,” O'Malley Dillon said. Plouffe said he thought the Trump attack ad against “Bidenomics” was even more effective, but he acknowledged that the transgender attacks were not helpful. “She was on tape," he said. "Surgery for trans people who want to transition in prison was part of the Biden-Harris platform in 2020. It was part of what the administration did, right?” And while the campaign has faced lingering questions about its media strategy, Harris' team said she actually wanted to participate in a podcast with Rogan, who is among the world's most popular podcasters and ultimately endorsed Trump. Stephanie Cutter, another Harris senior adviser, said the campaign wasn't able to “find a date” to make it work. “We had discussions with Joe Rogan’s team. They were great. They wanted us to come on. We wanted to come on,” she said. “Will she do it sometime in the future? Maybe. Who knows. But it didn’t ultimately impact the outcome one way or the other.” Plouffe noted that the campaign offered to do the Rogan podcast on the road in Austin, Texas. Trump ultimately did his interview with Rogan in the podcaster's studio. Harris' campaign brass also defended her decision to court moderate Republicans in the campaign's closing days. The decision has drawn ire from some progressives, who believe Harris should have worked harder to turn out more traditional Democratic voters. “This political environment sucked, OK? We were dealing with ferocious headwinds,” Plouffe said. “So we had a complicated puzzle to put together here in terms of the voters.” He acknowledged some “drift” toward Trump among non-college-educated voters, particularly voters of color, which made Harris' outreach to moderate voters even more important. “Yes, of course, you have to maximize your turnout and your vote share amongst liberal voters if you’re a Democrat. That was a huge focus,” he said. He added, “You’ve got to couple that with dominating in the middle. Not just winning it a little. We have to dominate the moderate vote." Speaking on Tuesday's conference call, Harris' running mate Tim Walz described the election result as “incredibly disappointing” and “a bit scary." But he praised the campaign's effort. “There will be a day of reckoning when it will be asked, ‘What did you do during the 2024 campaign?’ Well, I know the people on this call can say, everything they possibly could,” Walz said. “And for that, as an American, I’m incredibly grateful.”Q3 Net Sales Increase of 14.6% to $843.7 million ; Comparable Sales Increase of 0.6% Q3 GAAP Diluted EPS of $0.03 , Q3 Adjusted Diluted EPS of $0.42 Increases Full Year 2024 Guidance PHILADELPHIA, PA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Five Below, Inc. (NASDAQ: FIVE) today announced financial results for the third quarter and year to date period ended November 2, 2024. For the third quarter ended November 2, 2024 : Ken Bull, Interim CEO and COO of Five Below said, "We are pleased to report third quarter results that exceeded our outlook. We delivered stronger performance across a broader group of our merchandise worlds compared to the second quarter and improved our operational execution. We were encouraged to see the positive results from the initiatives we undertook to add newness and deliver value in key categories. We opened a record 82 new stores during this period with new store performance also surpassing our expectations. Our merchant and operational teams across the organization are focused on our key priorities of product, value and store experience, and I want to thank them for their efforts in delivering these results." Mr. Bull continued, "We will build on this progress and are focused on delivering for our customers in the all-important fourth quarter. Our solid Black Friday weekend results were an encouraging start to the holiday season, though the highest volume selling days lie ahead. In addition, this year we have five fewer shopping days between Thanksgiving and Christmas, which is reflected in our outlook." For the year to date period ended November 2, 2024 : Appointment of Chief Executive Officer Five Below also announced today the appointment of Winnie Park to the role of Chief Executive Officer, effective December 16, 2024. Ken Bull, Chief Operating Officer, who was serving as Interim CEO, will continue in his role as COO, and Tom Vellios will remain Executive Chairman. This announcement was made concurrently this afternoon and can be found at investor.fivebelow.com/investors. Fourth Quarter and Fiscal 2024 Outlook: The Company expects the following results for the fourth quarter and full year fiscal 2024: For the fourth quarter of Fiscal 2024 : For the full year of Fiscal 2024 : Conference Call Information: A conference call to discuss the financial results for the third quarter of fiscal 2024 is scheduled for today, December 4, 2024, at 4:30 p.m. Eastern Time. A live audio webcast of the conference call will be available online at investor.fivebelow.com, where a replay will be available shortly after the conclusion of the call. Investors and analysts interested in participating in the call are invited to dial 412-902-6753 approximately 10 minutes prior to the start of the call. Non-GAAP Information: This press release includes adjusted operating income, adjusted net income, and adjusted diluted income per common share, each is a non-GAAP financial measure. The Company has reconciled these non-GAAP financial measures with the most directly comparable GAAP financial measures within this filing. The Company believes that these non-GAAP financial measures not only provide its management with comparable financial data for internal financial analysis but also provide meaningful supplemental information to investors. Specifically, these non-GAAP financial measures allow investors to better understand the performance of the Company's business and facilitate a meaningful evaluation of its quarterly and fiscal year 2024 diluted income per common share and actual results on a comparable basis with its quarterly and fiscal year 2023 results. In evaluating these non-GAAP financial measures, investors should be aware that in the future the Company may incur expenses that are the same as or similar to some of the adjustments in this filing. The Company's presentation of non-GAAP financial measures should not be construed to imply that its future results will be unaffected by any such adjustments. The Company has provided this information as a means to evaluate the results of its ongoing operations. Other companies in the Company's industry may calculate these items differently than it does. Each of these measures is not a measure of performance under GAAP and should not be considered as a substitute for the most directly comparable financial measures prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the Company's results as reported under GAAP. Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect management's current views and estimates regarding the Company's industry, business strategy, goals and expectations concerning its market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, store count potential and other financial and operating information. Investors can identify these statements by the fact that they use words such as "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "future" and similar terms and phrases. The Company cannot assure investors that future developments affecting the Company will be those that it has anticipated. Actual results may differ materially from these expectations due to risks related to disruption to the global supply chain, risks related to the Company's strategy and expansion plans, risks related to our ability to attract, retain, and integrate qualified executive talent, risks related to disruptions in our information technology systems and our ability to maintain and upgrade those systems, risks related to the inability to successfully implement our online retail operations, risks related to cyberattacks or other cyber incidents, risks related to increased usage of machine learning and other types of artificial intelligence in our business, and challenges with properly managing its use; risks related to our ability to select, obtain, distribute and market merchandise profitably, risks related to our reliance on merchandise manufactured outside of the United States, the availability of suitable new store locations and the dependence on the volume of traffic to our stores, risks related to changes in consumer preferences and economic conditions, risks related to increased operating costs, including wage rates, risks related to inflation and increasing commodity prices, risks related to potential systematic failure of the banking system in the United States or globally, risks related to extreme weather, pandemic outbreaks, global political events, war, terrorism or civil unrest (including any resulting store closures, damage, or loss of inventory), risks related to leasing, owning or building distribution centers, risks related to our ability to successfully manage inventory balance and inventory shrinkage, quality or safety concerns about the Company's merchandise, increased competition from other retailers including online retailers, risks related to the seasonality of our business, risks related to our ability to protect our brand name and other intellectual property, risks related to customers' payment methods, risks related to domestic and foreign trade restrictions including duties and tariffs affecting our domestic and foreign suppliers and increasing our costs, including, among others, the direct and indirect impact of current and potential tariffs imposed and proposed by the United States on foreign imports, risks associated with the restrictions imposed by our indebtedness on our current and future operations, the impact of changes in tax legislation and accounting standards and risks associated with leasing substantial amounts of space. For further details and a discussion of these risks and uncertainties, see the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at www.sec.gov. If one or more of these risks or uncertainties materialize, or if any of the Company's assumptions prove incorrect, the Company's actual results may vary in material respects from those projected in these forward-looking statements. Any forward-looking statement made by the Company in this news release speaks only as of the date on which the Company makes it. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. About Five Below: Five Below is a leading high-growth value retailer offering trend-right, high-quality products loved by teens and pre-teens. We believe life is better when customers are free to "let go & have fun" in an amazing experience filled with unlimited possibilities. With most items priced between $1 and $5, and some extreme value items priced beyond $5 in our incredible Five Beyond shop, Five Below makes it easy to say YES! to the newest, coolest stuff across eight awesome Five Below worlds: Style, Room, Sports, Tech, Create, Party, Candy and New & Now. Founded in 2002 and headquartered in Philadelphia, Pennsylvania, Five Below today has over 1,750 stores in 44 states. For more information, please visit www.fivebelow.com or find Five Below on Instagram, TikTok, and Facebook @FiveBelow. Investor Contact: Five Below, Inc. Christiane Pelz Vice President, Investor Relations 215-207-2658 [email protected] Consolidated Balance Sheets (Unaudited) (in thousands) Consolidated Statements of Operations (Unaudited) (in thousands, except share and per share data)
WASHINGTON (AP) — President-elect Donald Trump’s transition team on Tuesday signed an agreement to allow the Justice Department to conduct background checks on his nominees and appointees after a weeks-long delay. The step lets Trump transition aides and future administration staffers obtain security clearances before Inauguration Day to access classified information about ongoing government programs, an essential step for a smooth transiton of power. It also allows those nominees who are up for Senate confirmation to face the background checks lawmakers want before voting on them. Teams of investigators have been standing by to process clearances for Trump aides and advisers. “This agreement with the Department of Justice will ensure President Trump and his team are ready on Day 1 to begin enacting the America First Agenda that an overwhelming majority of our nation supported on Election Day,” said Susie Wiles, Trump’s designate to be White House chief of staff. The announcement comes a week after the Trump transition team with the Biden White House to allow transition staff to coordinate with the existing federal workforce before taking office on Jan. 20. The White House agreement was supposed to have been signed by Oct. 1, according to the Presidential Transition Act, and the Biden White House had issued both public and private appeals for Trump’s team to sign on. Security clearances are required to access classified information, including on ongoing operations and threats to the nation, and the Biden White House and outside experts have emphasized to Trump’s team the importance of having cleared personnel before Inauguration Day so they could be fully briefed and ready to run the government. Republican Senators have also insisted on FBI background checks for Trump’s nominees before they face confirmation votes, as has been standard practice for decades. Lawmakers have been particularly interested in seeing the findings of reviews into Trump’s designated nominee for defense secretary, former Fox News host Pete Hegseth, and for Rep. Tulsi Gabbard to be director of national intelligence. “That’s why it’s so important that we have an FBI background check, a committee review of extensive questions and questionnaires, and a public hearing,” said. Sen. Susan Collins, R-Maine on Monday. John Thune, the incoming Senate Republican leader, said the Trump team “understands there’s going to have to be a thorough vetting of all these nominees.”WASHINGTON — Donald Trump threatened the United States's closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Trump said Monday he would use an executive order to impose 25 per cent tariffs on all goods coming from Canada and Mexico until the two countries stop drugs and migrants from illegally crossing the U.S. border. The announcement, made on Truth Social, brought swift responses from officials and industry in both countries who are bracing for chaos during Trump's second tenure. He has long used the threat of import taxes to pressure other countries to do his bidding, saying this summer that "the most beautiful word in the dictionary is 'tariff.'" It's unlikely the move would violate the Canada-U.S.-Mexico Agreement, which was negotiated during the first Trump administration. Laura Dawson, an expert on Canada-U. S. relations and the executive director of the Future Borders Coalition, said the president can impose tariffs under his national security powers. This type of duty has a time limit and can only be made permanent through Congressional approval, but for Trump, national security powers are like a "get out of jail free card," Dawson said. "This is exactly what happened in the last Trump administration," Dawson said. "Everyone said, 'Well, that is ridiculous. Canada is the U.S.'s best security partner. What do you mean our steel and aluminum imports are somehow a source of insecurity?'" But within the global trade system, she said, no country challenges another's right to define their own national security imperatives. Trump's first administration demonstrated how vulnerable Canada is to America's whims when the former president scrapped the North American Free Trade Agreement. The U.S. is Canada's closest neighbour and largest trading partner. More than 77 per cent of Canadian exports go to the U.S. Negotiation of CUSMA, commonly dubbed "the new NAFTA," was a key test for Ottawa following Trump's first victory. The trilateral agreement is up for review in 2026 and experts suspect this week's tariff announcement is a negotiating tactic. Scott Bessent, Trump's pick for treasury secretary, said in a recent op-ed that tariffs are "a useful tool for achieving the president's foreign policy objectives." "Whether it is getting allies to spend more on their own defence, opening foreign markets to U.S. exports, securing co-operation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role." During the initial CUSMA negotiations in 2018, Trump floated the idea of a 25 per cent tariff on the Canadian auto sector — something that would have been crippling for the industry on both sides of the border. It was never implemented. At the time, he did use his national security powers to impose a 25 per cent tariff on steel and 10 per cent tariff on aluminum imports, casting fear of an all-out trade war that would threaten the global economy. The day after announcing those levies, Trump posted on social media "trade wars are good, and easy to win." Former U.S. trade representative Robert Lighthizer recounted in his book that the duties sent an "unmistakable signal that business as usual was over." "The Trump administration was willing to ruffle diplomatic feathers to advance its trade agenda." It led to a legendary clash between Prime Minister Justin Trudeau and Trump at the G7 in Quebec. Trudeau said Canada would impose retaliatory measures, saying the argument that tariffs on steel and aluminum were a matter of national security was "kind of insulting." Trump took to social media, where, in a flurry of posts he called Trudeau "very dishonest and weak." Canada and other countries brought their own duties against the U.S. in response. They targeted products for political, rather than economic, reasons. Canada hit yogurt with a 10 per cent duty. Most of the product impacted came from one plant in Wisconsin, the home state of then-Republican House Speaker Paul Ryan. The European Union, Mexico and Canada all targeted U.S. whiskey products with tariffs, in a clear signal to then Republican Senate Majority Leader Mitch McConnell and his home state of Kentucky’s bourbon industry. Ultimately, Canada and Mexico were able to negotiate exemptions. Carlo Dade, the director of trade and trade infrastructure at the Canada West Foundation, said Trump is returning to the White House with more experience and a plan. But he suspects Americans will not like the blow to their bank accounts. Trump’s new across-the-board tariff strategy would not only disrupt global supply chains, it would also cause a major shakeup to the American economy. It's unclear if Trump will go through with them, or for how long, after campaigning on making life more affordable and increasing the energy market. "I think it will be short-term," Dade said. "The U.S. can only inflict damage on itself for so long." This report by The Canadian Press was first published Nov. 26, 2024. — With files from The Associated Press Kelly Geraldine Malone, The Canadian Press
Alberta is home to so many incredible artists, artisans, makers and entrepreneurs doing incredible work, and if you’re still trying to wrap up your Christmas shopping, we have a few suggestions for some fantastic local gift ideas. From Prairie cookbooks to unique bottles by local distilleries, check out some of these made-in-Alberta gift ideas. For the sweet tooth in your life! Made by Marcus is one of Alberta’s favourite made-from-scratch ice creams and is the perfect way to stock your loved one’s freezers this season. Choose from three different options (bestsellers, seasonal, or vegan) and get four pints delivered straight to the homes of your friends and family! A festive handwritten holiday note is also included. Every sip from glassware made by this Alberta-based company captures the incredible beauty of the Rockies, making it the perfect holiday gift for the nature lover in your life. This set brings the magic of Alberta’s iconic peaks, from Mt. Robson to the Three Sisters, right into their home. More into the idea of an experiential gift? Milk Jar also offers candle-making workshops for $125, and guests will take home an eight-ounce candle and a two-ounce reed diffuser. The Indigenous Box connects more than 300 Indigenous businesses directly to consumers, all in one beautifully designed box. Customize your gift box with a wide range of items to select through, or set up a subscription for your recipient. Whatever you choose, it’ll be a fantastic gift this holiday season! Seasonal subscriptions cost $98 quarterly, and build-a-box options are available at varying prices. You’re sure to find something for everyone at Jolene’s Tea House, which offers more than 60 hand-blended flavourful organic teas. The locally owned and operated shop has been blending teas in Banff National Park since 2005 and is home to everything from classic favourites to health-inspired herbal blends. In addition to loose-leaf tea and tins, Jolene’s also stocks adorable, tea house-shaped boxes of tea ($14.95 for 15 tea bags) with flavours including Creamy Earl Grey, Alpine Peppermint, and Banff Breakfast. You can shop loose-leaf tea, tea house-shaped boxes, tea accessories, and other gifts this season , or at the tea house-inspired log cabin on Bear Street in Banff. The wannabe chef in your life will appreciate this one! by Dan Clapson and Twyla Campbell is a bestselling cookbook with over 100 recipes. The dishes included in showcase the flavours, produce, seasons, and traditions of our region and are sure to be crowd-pleasers over the holiday season and beyond. Out of the items we rounded up for the Calgary gift guide this season, this has got to be the tastiest! Purchase through all major Canadian booksellers, including and . Is there someone on your list who’s a fan of craft beverages? Pick them up a bottle — or all three — of Burwood Distillery’s Winter Festival gins. Mandarin Cranberry Gin, Spiced Apple Colour Changing Gin, and Winter Berry Gin are sure to impress this season! These festive flavours are only available for a limited time, so be sure to get your hands on them before they’re gone. The seasonal gins are available for $52.50 per 750-millilitre bottle or pick up the trio for $142.50 or from Burwood’s distillery and lounge at . Aside from Rocky Mountain Soap Co.’s year-round, all-natural skincare line, the company has launched a collection of holiday gift sets and goodies. Among the festive offerings is the Raise the Bar: Holiday Bar Soap Set. The $33 set comes with an exclusive combination of four of Rocky Mountain’s limited edition seasonal soaps (some of which are only available with this set!) Pick up Rocky Mountain Soap Co.’s products at its across Alberta, and online . There’s nothing better than a warm cup of chai on a cold winter night, and an Edmonton company has taken things a delicious step further with a chai liqueur. This aromatic spirit, crafted from a secret family recipe, will make for a delicious last-minute gift or stocking stuffer. Chai liqueurs are rare in the Canadian market, and Jaya Chai Liqueur uses distilled Canadian oats, filtered water, Assam tea, Alberta beet sugar, and a blend of spices like cardamom and clove. For the culinary enthusiast in your life, the Italian Centre Shop offers a selection of gift baskets perfect for any taste. Whether it’s cooking essentials, charcuterie, or something sweet, these baskets are a fantastic gift for friends, family, colleagues, or even just as a thank-you! Place an order for a specialty basket or pick one up in-store for a last-minute surprise.
The Ravens looked better defensively last week, but now Roquan Smith's injury is a concernHugh Grant Has Always Played the VillainIt doesn't feel like Black Friday until the crazy Apple deals start rolling in. And it's time to save when the brand new Apple products go on sale. We already saw a $100 discount on the M4 Mac mini hit Amazon, and now the M4 iMac is discounted by $150 on Amazon with an early Black Friday deal. You need to clip the coupon to save the full amount, so don't forget that important step. If you're in the market for an all-in-one computer with a high-end processor, don't wait on this deal because these could sell out. We gave the M4 iMac a 4-star rating in our review , with our Senior Computing Editor Alex Wawro saying, "A faster chip and a better camera make this a good iMac upgrade." Not only is the laptop powerful with the M4 chip , but it also comes with a 4.5K display that looks stunning. "Apple's iMac M4 is dominated by its 24-inch (4480 x 2520 pixels) display, so it's a good thing that it's so nice to look at," reads our review. The discounted model comes with 16GB of unified memory and a 512GB SSD, which should be more than enough to get you through any multitasking or other work you want to accomplish. You also get full support for Apple Intelligence features. With Apple pushing further into gaming on Mac , you can run graphically intense games, too. With this deal, all of the M4 iMac colors are on sale, so you can get the one that best fits your office.
NEW YORK (AP) — U.S. stocks rose to records Tuesday after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street, even if they could roil the global economy were they to take effect. The S&P 500 climbed 0.6% to top the all-time high it set a couple weeks ago. The Dow Jones Industrial Average added 123 points, or 0.3%, to its own record set the day before, while the Nasdaq composite gained 0.6% as Microsoft and Big Tech led the way. Stock markets abroad mostly fell after President-elect Trump said he plans to impose sweeping new tariffs on Mexico, Canada and China once he takes office. But the movements were mostly modest. Stock indexes were down 0.1% in Shanghai and nearly flat in Hong Kong, while Canada’s main index edged down by less than 0.1%. Trump has often praised the use of tariffs , but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. The consequences otherwise for markets and the global economy could be painful. Unless the United States can prepare alternatives for the autos, energy products and other goods that come from Mexico, Canada and China, such tariffs would raise the price of imported items all at once and make households poorer, according to Carl Weinberg and Rubeela Farooqi, economists at High Frequency Economics. They would also hurt profit margins for U.S. companies, while raising the threat of retaliatory tariffs by other countries. And unlike tariffs in Trump’s first term, his latest proposal would affect products across the board. General Motors sank 9%, and Ford Motor fell 2.6% because both import automobiles from Mexico. Constellation Brands, which sells Modelo and other Mexican beer brands in the United States, dropped 3.3%. The value of the Mexican peso fell 1.8% against the U.S. dollar. Beyond the pain such tariffs would cause U.S. households and businesses, they could also push the Federal Reserve to slow or even halt its cuts to interest rates. The Fed had just begun easing its main interest rate from a two-decade high a couple months ago to offer support for the job market . While lower interest rates can boost the economy, they can also offer more fuel for inflation. “Many” officials at the Fed’s last meeting earlier this month said they should lower rates gradually, according to minutes of the meeting released Tuesday afternoon. The talk about tariffs overshadowed another mixed set of profit reports from U.S. retailers that answered few questions about how much more shoppers can keep spending. They’ll need to stay resilient after helping the economy avoid a recession, despite the high interest rates imposed by the Fed to get inflation under control. A report on Tuesday from the Conference Board said confidence among U.S. consumers improved in November, but not by as much as economists expected. Kohl’s tumbled 17% after its results for the latest quarter fell short of analysts’ expectations. CEO Tom Kingsbury said sales remain soft for apparel and footwear. A day earlier, Kingsbury said he plans to step down as CEO in January. Ashley Buchanan, CEO of Michaels and a retail veteran, will replace him. Best Buy fell 4.9% after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 1.4%. Still, more stocks rose in the S&P 500 than fell. J.M. Smucker had one of the biggest gains and climbed 5.7% after topping analysts’ expectations for the latest quarter. CEO Mark Smucker credited strength for its Uncrustables, Meow Mix, Café Bustelo and Jif brands. Big Tech stocks also helped prop up U.S. indexes. Gains of 3.2% for Amazon and 2.2% for Microsoft were the two strongest forces lifting the S&P 500. All told, the S&P 500 rose 34.26 points to 6,021.63. The Dow gained 123.74 to 44,860.31, and the Nasdaq composite climbed 119.46 to 19,174.30. In the bond market, Treasury yields held relatively steady following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary. The yield on the 10-year Treasury inched up to 4.29% from 4.28% late Monday, but it’s still well below the 4.41% level where it ended last week. In the crypto market, bitcoin continued to pull back after topping $99,000 for the first time late last week. It’s since dipped back toward $91,000, according to CoinDesk. It’s a sharp turnaround from the bonanza that initially took over the crypto market following Trump’s election. That boom had also appeared to have spilled into some corners of the stock market. Strategists at Barclays Capital pointed to stocks of unprofitable companies, along with other areas that can be caught up in bursts of optimism by smaller-pocketed “retail” investors. AP Business Writer Elaine Kurtenbach contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. The business news you need Get the latest local business news delivered FREE to your inbox weekly.
Tim McGraw is celebrating his daughter Audrey's 23rd birthday, teasing that his youngest has "great things in store". " Happy 23rd to our baby girl Audrey !!! Your Mom, your sisters and I are so proud of the sweet, strong and hard working young lady you have become," he wrote on social media, alongside a gorgeous picture of Audrey in black and white. "You have such great things in store for you in this beautiful life. Live it! Love it! Stay just as grateful for everyday as we are for having you in our lives everyday. You are beauty and grace in every way. We love you so much!" "Awwww dad!! Love you so much," Audrey commented on the post. Audrey is Tim's youngest with wife Faith Hill, and was born on December 6, 2001; she is named after her mom, whose full name is Audrey Faith Perry. Audrey is the older sister of Maggie, who earned a Master's degree in Sustainability Science and Practice from Stanford, and Gracie , an aspiring Broadway star. "Happy birthday to this hot lounger," Gracie captioned a story celebrating her elder sister's birthday, and which showed Audrey lounging in a pool float. A second snap was of the pair as children, with Gracie writing: "I love you so much and I am so proud to be your older sister." Maggie also shared a sweet selfie the pair took, writing: "Happy bday to my hottie honey buns". Audrey graduated from high school in 2020, and was reportedly attending the American Academy of Dramatic Arts, which has campuses in both New York City and Los Angeles. She has a passion for singing and photography, and shares pictures and videos on social media with fans. She has been in a relationship with The Lincoln Lawyer actor Manuel García-Rulfo, who is 20 years her senior, with the couple have been going from strength-to-strength, having been together for over a year. They regularly support each other via social media on their latest projects, having been linked since June 2023. Audrey supported her partner in November when his latest venture, the movie Pedro Paramo , dropped on Netflix. Sharing one of his Instagram Posts on Stories, she posted: "On the bright side, this beautiful beautiful film is out on Netflix today. Go watch!"SAN FRANCISCO — Google on Wednesday unleashed another wave of artificial intelligence designed to tackle more of the work and thinking done by humans as it tries to stay on the technology's cutting edge while also trying to fend off regulatory threats to its empire. The next generation of Google's AI is being packaged under the Gemini umbrella, which was unveiled a year ago . Google is framing its release of Gemini 2.0 as a springboard for AI agents built to interpret images shown through a smartphone, perform a variety of tedious chores, remember the conversations consumers have with people, help video game players plot strategy and even tackle the task of doing online searches. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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MADRID (AP) — Getafe scored twice in three minutes midway through the second half to beat struggling Valladolid 2-0 and record only its second win in La Liga on Friday. The victory ended Getafe’s five-game winless run and lifted it into 15th place in the 20-team standings. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get any of our free email newsletters — news headlines, obituaries, sports, and more.
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