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Stock market today: Wall Street wavers following strong consumer confidence report, Fed hopes

Published Tue, 03 Dec 2024 17:59:28 GMT

NEW YORK (AP) — Stocks wavered on Wall Street in afternoon trading on Tuesday following a strong report on consumer confidence and a boost to hopes that the Federal Reserve is finished with its aggressive interest rate hikes.The S&P 500 fell 0.1%, but remains on track to close out November with its strongest monthly gain of the year. The Dow Jones Industrial Average rose 32 points, or 0.1% to 35,363 as of 1:12 p.m. Eastern. The Nasdaq fell 0.1%.Bond yields fell. The 10-year Treasury yield, which influences mortgage rates, slipped to 4.37% from 4.39% late Monday. The yield on the two-year Treasury, which tracks expectations for Federal Reserve action, fell significantly, to 4.78% from 4.89% late Monday.U.S. crude oil prices rose 2.7%.Investors are closely watching several economic updates this week for more clues about how consumers feel and whether the rate of inflation is still easing. They are betting that the Fed will continue to hold its benchmark rate steady. That sentiment...

Amtrak seeks to take DC’s Union Station in eminent domain case

Published Tue, 03 Dec 2024 17:59:28 GMT

Amtrak will argue in federal court Tuesday that eminent domain privileges dictate it should be granted full control of historic Union Station in D.C.In a lawsuit filed in U.S. District Court, Amtrak is seeking control of the property managed by a private company, Union Station Investco or USI. The U.S. has owned the property since 1985, and authorized the nonprofit Union Station Redevelopment Corporation to oversee the property.Currently, Union Station Investco subleases a small portion of the station — approximately 13% — to Amtrak for its railroad operations, including ticket counters and concourse.Amtrak filed the eminent domain case in April 2022, seeking control of Union Station Investco’s stake, citing federal code that says Amtrak has the authority to seize property “necessary for intercity rail passenger transportation.”In its lawsuit, Amtrak claimed it needs control of Union Station “to ensure that the Station is safely and effectively brought back t...

New pizza shop serving 'mountain-sized' pies in Colorado

Published Tue, 03 Dec 2024 17:59:28 GMT

DENVER (KDVR) — Mountain Mike's Pizza, known for its ginormous pizzas and curly pepperoni, finally opened a shop in Colorado.According to Allrecipes, a medium size pizza is 12 inches, while a large is 18 inches. Mountain Mike's serves "mountain-sized" pizzas at 20 inches. The top cheeseburger joint in Colorado, according to Yelp That's about the size of both your forearms.Mountain Mike’s Pizza (Courtesy of Mountain Mike’s Pizza)Mountain Mike’s Pizza (Courtesy of Mountain Mike’s Pizza)Mountain Mike’s Pizza (Courtesy of Mountain Mike’s Pizza)Mountain Mike's is also home to the crispy and curly pepperoni, "which uses natural casing so our mountainous pepperonis curls and crisp when cooked…a true pepperoni lover’s dream," said the pizza shop on its website. The pizza joint is already located in many states like California, Arizona, Utah, Nevada, Idaho, Texas and Oregon. Now, there's a new location in Parker, Colorado. The spot is located at 12239 Pine Bluffs Way.The shop serves a "Pik...

VMware to layoff 184 in Broomfield after Broadcom acquisition

Published Tue, 03 Dec 2024 17:59:28 GMT

DENVER (KDVR) -- A recent, large technology company acquisition has led to 184 people losing their jobs in the Denver area.As a result of the recent $69 billion purchase of cloud technology company VMware, the semiconductor and infrastructure software manufacturer and supplier Broadcom has notified the City and County of Broomfield that 184 employees will be laid off in a WARN notice. Download the FOX31 App: Breaking news alerts & Pinpoint Weather The company stated that these layoffs are "a result of" Broadcom's acquisition of VMware.According to the City and County of Broomfield's 2022 Annual Comprehensive Financial Statement, last year VMware had 450 Broomfield employees and was considered one of the area's principal employers. Broadcom is also listed among those employers, with 500 employees.The first separation is expected on Jan. 26, 2024. This will not close the entire facility, and no union is associated with these employees.VMware is based in Palo Alto, California, an...

Do you recognize these suspects who are wanted for retail theft?

Published Tue, 03 Dec 2024 17:59:28 GMT

DENVER (KDVR) — Police are searching for two people suspected of stealing merchandise from an Ulta Beauty in Wheat Ridge.On Monday at 4:02 p.m., the suspects were seen allegedly filling bags with merchandise. The Wheat Ridge Police Department posted on X, formally known as Twitter, asking for the public's help in identifying the two suspects.Person suspected of stealing from Ulta Beauty (Courtesy of Wheat Ridge Police Department)Person suspected of stealing from Ulta Beauty (Courtesy of Wheat Ridge Police Department)"We’re concerned because one of the suspects was aggressive towards a customer and tried to break glass in the store before the two left in a black sedan. We were able to find the suspect’s vehicle, but they eluded police, driving dangerously on the wrong side of the road," said Wheat Ridge PD. 13-year-old arrested in deadly Aurora stabbing Police have confirmed products were stolen from an Ulta in Brighton at 2:32 p.m. and one in Arvada at 3:19 p.m. on Monday. Wheat R...

Where Colorado ranks among states with highest average student debt

Published Tue, 03 Dec 2024 17:59:28 GMT

(The Hill) -- A new analysis says Maryland has the highest average student loan debt per borrower, coming in at more than $40,000 each.Degree Choices, an organization dedicated to helping students with their higher education journey, analyzed federal data to rank the states with the most student loan debt. The top five states are all on the East Coast, with Maryland in first at $43,116 per borrower. Georgia comes in second with an average of $41,775 each, Virginia with $39,599, Florida at $38,683 and South Carolina borrowers showing an average of $38,360.Colorado ranked No. 15, with an average student debt burden of $36,939. The state has 797,900 borrowers with a total student debt of $29.4 billion. FOX31 Newsletters: Sign up to get breaking news sent to your inbox The bottom five states all show an average of less than $32,000 per borrower. North Dakota has the least amount of average student loan borrower debt per borrower at $30,000. Wyoming is second to last at $30,357, ...

Florida official’s body went undiscovered for 24 minutes outside Capitol meeting room last year

Published Tue, 03 Dec 2024 17:59:28 GMT

TALLAHASSEE, Fla. (AP) — A Florida official was dead or dying in a hallway in the governor’s office complex for 24 minutes before anyone noticed he had collapsed after leaving a meeting last year.Peter Antonacci, 74, had held several government positions before Republican Gov. Ron DeSantis appointed him to serve as the first director of the Office of Election Crimes and Security. DeSantis created the office last year.But two months into the job, Antonacci attended a meeting in a conference room at the Capitol. He left early and the meeting room door closed behind him, according to a Florida Department of Law Enforcement report on the death. More than 20 minutes later, Florida Department of Law Enforcement Commissioner Mark Glass stepped into the hallway to have a conversation with another meeting attendee when Antonacci’s body was found. Glass began chest compressions and an effort to use an automatic defibrillator failed to revive him, according to the report.DeSantis w...

Patients with neurodegenerative diseases turn to pingpong for rehabilitation. Scientists are paying attention.

Published Tue, 03 Dec 2024 17:59:28 GMT

Mark Lauterbach was leaving a brewery in Fort Collins earlier this year when he found himself being pelted by hail. Instinctively, he took off running toward his car.When he made it, he burst into tears.“I felt like Forrest Gump,” Lauterbach said. “I ran, and I just cried. It’s been incredible.”The 58-year-old, diagnosed with multiple sclerosis eight years ago, thought his running days were long over. But playing pingpong, he said, had brought back the gift of running.Lauterbach credits table tennis for a vast improvement in his overall mobility. The Colorado-based NeuroPong program he participates in is now being researched by scientists investigating the link between neurodegenerative conditions and the game often associated with parents’ basements.After his diagnosis, Lauterbach dealt with neuropathy along the right side of his body that rendered the movement of his arm, hand, leg and foot difficult. He developed balance problems and could no longer run or ride his bike around Fo...

Why this economist says the Fed misread rent inflation

Published Tue, 03 Dec 2024 17:59:28 GMT

Rent hikes soared into the double-digits in mid-2021, but the Federal Reserve didn’t start raising interest rates until a year later.Ed Coulson, director of the Center for Real Estate at UC Irvine, believes the Fed should have acted sooner. And because rent is now leveling off, he thinks the Fed should halt future interest rate hikes.Rent inflation plays an outsized role in determining the overall rate of inflation, the housing economist said. And the government’s method for measuring it is off-kilter, causing the Fed to misinterpret an important metric in the Consumer Price Index.We asked Coulson to explain his reasoning and to share other insights about the housing market. His comments have been edited for space.Q: You believe the Bureau of Labor Statistics’ method of measuring rent inflation is flawed. Why is that, and why is it important?A: The Fed’s policy is driven by their perceptions of inflation. And I argue with some co-authors that that perception is incorrect. And the re...

What the Chicago White Sox’s signing of shortstop Paul DeJong could mean for the team’s defensive improvement

Published Tue, 03 Dec 2024 17:59:28 GMT

Paul DeJong ranks among the top 20 shortstops in several major-league defensive categories since 2018.The Chicago White Sox have been searching for steady gloves up the middle, and they officially added to that collection Tuesday by signing DeJong to a one-year, $1.75 million contract. Reports of the deal first surfaced Nov. 21.DeJong, who went to Antioch High School and Illinois State, has a .229/.299/.417 career slash line with 120 doubles, 116 home runs, 344 RBIs and 341 runs in 729 games during seven seasons with the St. Louis Cardinals (2017-23), Toronto Blue Jays (2023) and San Francisco Giants (2023).He had a combined .207 average with 13 doubles, 14 home runs, 38 RBIs and 41 runs in 112 games between the Cardinals, Blue Jays and Giants in 2023.The Cardinals traded DeJong to the Blue Jays on Aug. 1. He was released Aug. 21, signed with the Giants on Aug. 23 and released again Sept. 21.DeJong, 30, finished second in National League Rookie of the Year voting in 2017 after slash...