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Stocks rise and bond yields jump after latest signs of resilient economy

NEW YORK (AP) — Most stocks ticked higher on Wall Street Thursday following the latest signs that the U.S. economy remains stronger than feared. The S&P 500 rose 19.58 points, or 0.4%, to 4,396.44 and is on track for its sixth winning week in the last seven. The Dow Jones Industrial Average gained 269.76, or 0.8%, to 34,122.42, while the Nasdaq composite edged down by 0.42, or less than 0.1%, to 13,591.33. Yields jumped in the bond market after data showed the U.S. economy grew at a 2% annual rate in the first three months of the year, much stronger than the 1.3% rate earlier ...

The Great Grift: More than $200B in COVID aid may have been stolen

WASHINGTON (AP) — More than $200 billion may have been stolen from two large COVID-19 relief initiatives, according to new estimates from a federal watchdog investigating federally funded programs that helped small businesses survive the worst public health crisis in more than a hundred years. The numbers issued Tuesday by the U.S. Small Business Administration inspector general are much greater than the office’s previous projections and underscore how vulnerable the Paycheck Protection and COVID-19 Economic Injury Disaster Loan programs were to fraudsters, particularly during the ...

Wall Street drifts to start what could be a quiet week

NEW YORK (AP) — Stock indexes drifted lower Monday as Wall Street's pullback from its big recent rally carried into a second week. The S&P 500 fell 19.51 points, or 0.4%, to 4,328.82. It's still close to its highest level in a year, reached a couple weeks ago. Technology stocks were the heaviest weights on the market and pulled indexes lower even though the majority of stocks on Wall Street rose. They dragged the Nasdaq composite to a loss of 156.74, or 1.2%, to 13,335.78. The Dow Jones Industrial Average was sturdier and slipped 12.72 points, or less than 0.1%, to ...

Honda recalls nearly 1.2M vehicles because rear camera image may not appear on screen

DETROIT (AP) — Honda is recalling nearly 1.2 million vehicles in the U.S. because the rear view camera image may not appear on the dashboard screen. The recall covers certain Odyssey minivans from 2018 to 2023, as well as Pilot SUVs from 2019 to 2022 and Passport SUVs from 2019 to 2023. Honda says in documents posted Friday by U.S. safety regulators that the problem was traced to a faulty coaxial cable connector. The National Highway Traffic Safety Administration says if the rear view camera image doesn’t display, it can cut driver visibility and increase the risk of a ...

FDA warns stores to stop selling Elf Bar, the top disposable e-cigarette in the U.S.

WASHINGTON (AP) — The Food and Drug Administration on Thursday said it has sent warning letters to dozens of retailers selling fruit- and candy-flavored disposable e-cigarettes, including the current best-selling brand, Elf Bar. It’s the latest attempt by regulators to crack down on illegal disposable vapes that have poured into U.S. stores in recent years. Last month, the FDA issued orders allowing customs officials to seize shipments of Elf Bar, Esco Bar and two other brands at U.S. ports. None of the products have received FDA authorization and they come in flavors like cotton ...

Intel to build $33-billion chip plant in Germany

BERLIN (AP) — Intel and the German government signed a deal Monday that will see the U.S. company spend more than 30 billion euros ($32.8 billion) to build a chip manufacturing site in the eastern city of Magdeburg, after Germany pledged to cover a third of the investment required. Word of the agreement came as German Chancellor Olaf Scholz met Intel CEO Pat Gelsinger in Berlin. Intel acquired the land for two semiconductor facilities in Magdeburg in November. It says the first one is expected to start production in four or five years. "The investment in Germany means a ...