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Stock market today: Wall Street leaps, nearly escapes its bear market after strong jobs report

Published Sat, 08 Feb 2025 04:07:24 GMT

NEW YORK (AP) — Stocks rushed higher Friday after a strong report on the U.S. job market suggested a recession may not be as close as Wall Street had feared. The S&P 500 leaped 1.5% for the latest surge in a rally that’s vaulted it nearly 20% since mid-October. That put Wall Street’s main measure of health on the edge of entering what’s called a “bull market” despite a long list of challenges. The Dow Jones Industrial Average rallied 701 points, or 2.1%, while the Nasdaq composite gained 1.1%.They got a boost after a report showed employers unexpectedly accelerated their hiring last month. It’s the latest signal that the job market remains remarkably solid despite much higher interest rates, and it offers a hefty pillar of support for an economy that’s begun to slow.Areas of the market that do best when the economy is healthy led a widespread rally, including stocks of industrial companies, energy producers and banks. Exxon Mobil rose 2.3% as prices for crude o...

Boy, 12, shot inside Chatham home: police

Published Sat, 08 Feb 2025 04:07:24 GMT

CHICAGO —  A 12-year-old boy is recovering after being shot in the hip inside a home on Chicago's South Side, Chicago police said Friday.According to police, the shooting occurred around 2 p.m. in the 7900 block of S. Ingleside Ave., in Chicago's Chatham neighborhood.The 12-year-old was inside the home when police he was shot by an "unknown offender." ‘He wanted better:’ 14-year-old killed, 4 wounded after shooting involving police on South Side; 1 in custody The shooting victim was taken to Comer Children's Hospital in good condition. Anyone with information may leave an anonymous tip at cpdtip.com.Area Two Detectives are investigating.

Man found dead at shelter for migrants in Chicago

Published Sat, 08 Feb 2025 04:07:24 GMT

CHICAGO — Police are conducting a death investigation after a man was found dead at a shelter designated to house migrants.Officers responded to the building that was formerly the Wasdworth Elementary School located at 6420 South University Avenue around 6 a.m. Friday.Police said the 27-year-old man was found unresponsive and pronounced dead on the scene.Detectives are conducting a death investigation pending autopsy results.In January, the City of Chicago moved migrants into the building. Previous Coverage: City to move migrants into Wadsworth Elementary School in coming weeks No other information on the man or his death has been provided at this time.

Chicago falls from top 10 park systems among U.S. cities, report

Published Sat, 08 Feb 2025 04:07:24 GMT

CHICAGO — An annual ranking of public park systems across the U.S. has dropped Chicago from #6 to #12 after knocking the city for a reduction in its average spending on parks and available amenities.The Trust for Public Land (TPL) scores and ranks the park systems of the 100 most populous U.S. cities each year by comparing five park categories: acreage, access, equity, investment, and amenities. All five categories are scored on a 100 point scale and weighted equally into the final average, which becomes TPL's ParkScore® for that city. Bears say Arlington Park no longer ‘singular focus’ for new stadium Chicago's 2022 ParkScore was 76.8 out of 100 while its 2023 ParkScore is 72.6.Of the 3.6 overall points lost, 2.2 came from a reduction in the amount of money spent on parks per resident, which dropped from $182 in 2022 to $178, according to TPL's data. The other 1.6 lost points primarily came from a reduction in available park amenities per capita; namely restrooms and basketball h...

US adds 339k jobs in May, but recession may follow

Published Sat, 08 Feb 2025 04:07:24 GMT

WASHINGTON (NEXSTAR) — The White House is taking a victory lap after yet another robust jobs report, although outside economists are more cautious.In May, the U.S. added another 339,000 jobs to the economy, defying expectations."Folks have been underestimating the number of jobs for like 10 months at this point," said Bharat Ramamurti, White House economist. "We're in the middle of a really great economic recovery."Ramamurti said the American people should be confident about the economy's direction."Jobs are becoming better-paying, and that for 10 or 11 straight months now, inflation is moving downwards," Ramamurti said.But outside economists, like Ethan Harris with Bank of America, warned the winning streak won't last.Harris said robust job gains only add pressure on the Federal Reserve to keep raising interest rates, something that could force American families and businesses to cut back."I'd be surprised if there aren't more layoffs," Harris said.This could trigger a mild recessi...

Bat in south Austin tests positive for rabies

Published Sat, 08 Feb 2025 04:07:24 GMT

AUSTIN (KXAN) — A bat removed from Town Lake Park in south Austin tested positive for rabies, the City of Austin Parks & Recreation Department said.According to officials, the bat was found Tuesday at Michael Butler Shores on a steppingstone near the front of the walk area for dogs.Texas Department of State Health Services provided the lab results, according to Austin Parks & Rec.Most recently, a bat found in Zilker Park in April tested positive for rabies.Anyone bitten by a wild animal should contact Animal Protection immediately by calling 311 or (512) 974-2000, as well as contact a physician.Symptoms of rabies include a change in personality, fever, loss of appetite, excessive salivation (foaming), weakness, paralysis and death.

Exclusive: Hays County Tax employee arrested and accused of selling license plates, registrations

Published Sat, 08 Feb 2025 04:07:24 GMT

AUSTIN (KXAN) -- The Texas Rangers and the Texas Department of Motor Vehicles are investigating after a Hays County employee was arrested, accused of illegally selling license plates and vehicle registrations for months, along with a state-licensed inspector who is accused of illegally selling vehicle registrations, according to several law enforcement sources who shared the information exclusively with KXAN.The Hays County Tax Assessor-Collector's Office is now being audited, and law enforcement officers said this could just be the beginning. TxDMV officials said they are "aware of concerns" with the now former employee but declined an interview, citing the ongoing investigation."Department staff have been cooperating with both county office leadership and law enforcement investigating the issue," TxDMV spokesperson Adam Shaivitz said in a statement. "Department staff are conducting compliance reviews of all office operations to ensure the actions were limited to a single county em...

Municipal utility district approved for 14K-home community north of Jarrell

Published Sat, 08 Feb 2025 04:07:24 GMT

AUSTIN (Austin Business Journal) -- The Arizona-based developers that aims to transform more than 7,000 acres straddling Williamson and Bell counties, near Jarrell, into what they call a "new town" with up to 14,000 homes secured approval for a municipal utility district during this year's Texas Legislature.The Texas House of Representatives and Senate last month passed House Bill 5367 to create Solana Municipal Utility District No. 1 — which, if signed by Gov. Greg Abbott, could be used to finance infrastructure and facilities on the land."We’re truly grateful for all the support we’ve received, including from the Texas Legislature, the leadership of Bell County and Williamson County, and the cities and towns in the neighboring areas. We’ll make sure they can look back with pride at being early supporters of this grand-scale new community at Solana Ranch," DMB Development LLC CEO Brent Herrington said this week in an email.

High school basketball: Daniel Freitag, the state’s top 2024 recruit, commits to Wisconsin

Published Sat, 08 Feb 2025 04:07:24 GMT

Badgers basketball coach Greg Gard continues to capitalize on the pipeline from Minnesota to Wisconsin.Wisconsin’s latest get came Friday, when Bloomington Jefferson point guard Daniel Freitag committed to the Badgers. The 6-foot-2, four-start point guard is the 90th-ranked prospect in the nation in the Class of 2024, per 247 Sports.Freitag, who is heading west in the fall to play his senior year of high school at Southern California Academy, made his announcement via 247 Sports’ YouTube feed. He entered the day with five finalists: Wisconsin, Notre Dame, Baylor, Virginia and Minnesota.But the Gophers ended their recruitment of Freitag in March after landing a commitment from fellow in-state point guard Isaac Asuma, a top-150 recruit in the Class of 2024 out of Iron, Minn.On his commitment livestream, Freitag said he committed to the Badgers because his bond with Gard and associate head coach Joe Krabbenhoft was “unmatched.”“I think they did a really go...

Artist Christopher Marley debuts ‘Exquisite Creatures’ at the Science Museum on Saturday

Published Sat, 08 Feb 2025 04:07:24 GMT

As an artist and naturalist, Christopher Marley has found a colorful but unusual calling.His exhibit at the Science Museum of Minnesota in downtown St. Paul features preserved animal specimens and other natural objects arranged in mosaic-like geometric patterns. Beetles, seashell-like ammonites, crystals, lizards and more form a three-dimensional kaleidoscope of the natural world.Marley was scheduled to be on hand in February for the opening of the temporary exhibit, dubbed “Exquisite Creatures,” but his initial appearance was stymied by bad weather.He’ll be at the Science Museum in person from 10 a.m. to 2 p.m. Saturday to help kick off its summer programming, which include a series of activity-centered “STEM Adventure Saturdays.”About 2% of the specimens in the exhibit are North American. Much comes from the tropics, especially Southeast Asia, as well as Africa and Europe. Among his favorite collection spots, Marley is affiliated with an entomology an...