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NEW YORK (AP) — U.S. stock indexes rose to more records Wednesday after tech companies talked up how much of a boost they’re getting from the artificial-intelligence boom. The S&P 500 climbed 0.6% to add to what’s set to be one of its best years of the millennium. It’s the 56th time the index has hit an all-time high this year after climbing in 11 of the last 12 days . The Dow Jones Industrial Average rose 308 points, or 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce helped pull the market higher after delivering stronger revenue for the latest quarter than analysts expected, though its profit fell just short. CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock price of the company, which helps businesses manage their customers, jumped 11%. Marvell Technology leaped even more after delivering better results than expected, up 23.2%. CEO Matt Murphy said the semiconductor supplier is seeing strong demand from AI and gave a forecast for profit in the upcoming quarter that topped analysts’ expectations. All the optimistic talk helped Nvidia , the company whose chips are powering much of the move into AI, rally 3.5%. It was the strongest force pushing upward on the S&P 500 by far. They helped offset an 8.9% drop for Foot Locker, which reported profit and revenue that fell short of analysts’ expectations. CEO Mary Dillon said the company is taking a more cautious view, and it cut its forecasts for sales and profit this year. Dillon pointed to how keen customers are for discounts and how soft demand has been outside of Thanksgiving week and other key selling periods. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable after the Federal Reserve hiked interest rates to crush inflation. But shoppers are now contending with still-high prices and a slowing job market . This week’s highlight for Wall Street will be Friday’s jobs report from the U.S. government, which will show how many people employers hired and fired last month. A narrower report released Wednesday morning suggested employers in the private sector increased their payrolls by less last month than economists expected. Hiring in manufacturing was the weakest since the spring, according to Nela Richardson, chief economist at ADP. The report strengthened traders’ expectations that the Fed will cut its main interest rate again when it meets in two weeks. The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat. Trump’s preference for higher tariffs and other policies could lead to higher inflation , which could alter the Fed’s plans . Fed Chair Jerome Powell said Wednesday that the central bank can afford to cut rates cautiously because inflation has slowed from its peak two years ago and the economy remains sturdy. A separate report on Wednesday said health care, finance and other businesses in the U.S. services sector are continuing to grow, but not by as much as before and not by as much as economists expected. One respondent from the construction industry told the survey from the Institute for Supply Management that the Fed’s rate cuts haven't pulled down mortgage rates as much as hoped. Plus, “the unknown effect of tariffs clouds the future.” In the bond market, the yield on the 10-year Treasury fell to 4.18% from 4.23% late Tuesday. On Wall Street, Campbell’s sank 6.2% for one of the S&P 500’s sharper losses despite increasing its dividend and reporting a stronger profit than analysts expected. Its revenue fell short of Wall Street’s expectations, and the National Football League’s Washington Commanders hired Campbell’s CEO Mark Clouse as its team president. Gains for airline stocks helped offset that drop after JetBlue Airways said it saw stronger bookings for travel in November and December following the presidential election. It also said it’s benefiting from lower fuel prices, as well as lower costs due to improved on-time performance. JetBlue jumped 8.3%, while Southwest Airlines climbed 3.5%. All told, the S&P 500 rose 36.61 points to 6,086.49. The Dow climbed 308.51 to 45,014.04, and the Nasdaq composite rallied 254.21 to 19,735.12. In stock markets abroad, South Korea’s Kospi sank 1.4% following a night full of drama in Seoul. President Yoon Suk Yeol was facing possible impeachment after he suddenly declared martial law on Tuesday night, prompting troops to surround the parliament. He revoked the martial law declaration six hours later. In the crypto market , bitcoin climbed near $99,000 after Trump said he would nominate Paul Atkins , a cryptocurrency advocate, to chair the Securities and Exchange Commission. AP Writers Matt Ott and Zimo Zhong contributed.ELKO — The next time you have a cup of coffee at an Elko restaurant, it very well may be coming from a local roaster that imports its beans from Guatemala and other areas. “I love the idea of coffee. I love the fact that it always seemed like very few people drink it alone when they are out. They are always with somebody else,” said Garret Kamps, owner and manager of Collective Coffee Roasters in Elko. “ It's kind of a shared habit. It's a shared delight and I love that about it.” His love of coffee and that habit sprung from his younger days. “Quite a few years ago, I was young and just interested in trying to figure out what was good, what would wake me up in the morning,” he said. Living in Reno at the time, he visited a local coffee shop and noticed how there were several varieties of coffee on display, ready for sampling. Garret Kamps, owner and manager of Collective Coffee Roasters, poses in front of bags of coffee. Photo provided by Collective Coffee Roasters. “I just started trying things and started developing a taste for what was good. And, living in Reno, there was a lot of access to good coffee and so we kind of just built our taste and built our preferences.” Kamps said when he moved back to his hometown of Elko a number of years ago, he realized it didn’t have a coffee-roasting scene or a specialty coffee line. “So, we started roasting ourselves at home to try to fill that gap, because it was so expensive to ship coffee in. After a while, we realized this could be really fun. We could actually make a go of this. So, we gathered some friends of ours together to experiment and try some things. We went in together on some equipment and we started a small business.” They also had a particular aim — to sell specialty coffee, Kamps said. The Specialty Coffee Association defines specialty coffee as scoring 83 or higher on their rating scale, he explained. “There are a lot of things at the farms, the way that the coffee is grown and the way that the coffee is processed, that can help achieve those kinds of scores and goals,” he said. “Specialty coffee is kind of the cream of the crop. It's the top end of coffee production and so that's what we're shooting for.” Collective Coffee Roasters does very little blending, Kamps said. “Most of those coffees are so good on their own, coming from either a single farm or a single region,” he said. “We try to offer mostly single-origin coffees to our customers. Mostly, we have a few blends that are just for people who are maybe getting started or maybe people who focus on espresso,” Kamps said. “But for the most part, we're trying to showcase the work that these farms are doing to produce really good coffee.” “We are mainly, right now, a wholesale coffee supplier. So, we supply cafes and restaurants and hotels and things like that,” Kamps explained. “We also have our own retail side, which is mostly done online — so, people sign up for subscriptions and things like that, and it's either shipped to them or delivered,” he said. “We actually do free local delivery. We have a van that goes around that's logoed, and we deliver coffee that way, right to people's homes every week,” he explained. “The bulk of our business is actually getting unbrewed, just roasted, coffee beans directly to cafes or churches or businesses or individuals.” Collective Coffee Roasters also runs a brand called Reformation Roasters, which supplies coffee to churches and supports church planting efforts. “We would love to continue growing,” Garret Kamps said. “We love being a local roaster here in Elko but we also want to see Elko on the map nationally for coffee. We think that would be really cool if Elko was known for good coffee.” He said the company is “working hard,” especially with marketing professional Jaclyn Trice, “to help raise awareness of our brand through social media and through the Specialty Coffee Association, even, to be noticed and recognized at a national level." "We'd love that,” he said. “At some point in the future, to better serve Elko, we probably will offer a slow bar, which is a place where you can come in and sit and get coffee, no window. It'll all be slow service — sit down and experience the product in the community. That will be our goal. We're probably looking at about 12 months for that.” Along with working in the coffee business, Kamps is also a pastor at Living Stones Church in Elko. He said teamwork is an important ingredient in balancing his two passions. “Collective Coffee Roasters has always been a team effort,” he said. It's always been a group of like minded people who've come together to produce a really good product, and so with that shared labor, with the shared work between our partners, we're able to balance the workload. You know, I'm not the only one there.” His wife Delynn Kamps is the head roaster. “She's amazing at what she does,” her husband said. He also said co-owner Casey Parish has done “incredible work” as a business partner. “He's really the nuts and bolts of making everything go and making everything work. He and I were just in our new space that we just moved into, putting up shelving and organizing everything and getting everything ready to look good,” Garret Kamps said. “I'm kind of the chief financial officer,” he added. “I do a lot of the bookkeeping. And as well as sales, I try to keep our customers happy and find new ones.” Customers who support the business in Elko are supporting coffee producers, he said. “Because of the work that we're doing in Elko — Elko gets to be a part of something huge happening around the world,” he said. “Florencio Villatoro is our farmer who produces coffee for us and many others,” out of the remote region of Cuilco, Guatemala. “We don't have local growers, but we're a local roaster. There's no coffee that's grown in the [continental] United States, because coffee is grown in this thin band around the equator of the world. And it can only be grown there because those are the places where the growing season is long enough to support coffee growth,” Kamps explained. “The coffee that we get is mostly processed by hand,” he noted. “It's picked by hand. It's sorted by hand. And then there is some machinery that goes into taking the coffee cherry off of the coffee bean — because they're these little cherries that start green and then they go yellow and then they go red. When they're a certain color of red, that's when they're ripest,” which is why high-quality coffee is hand-picked, he explained. A coffee plant with several beans at a Guatamalan farm. “There's no machine that can do that, because the coffee ripens at different stages on the same branch,” he said. “The coffee is either naturally processed, which is where they allow that cherry to dry on the coffee bean and then they take the cherry off as almost a raisin-like material — or it's washed, which is where they actually use a rudimentary mechanical system in most of the farms that we go to, to remove that cherry as it's ripe and it hasn't dried.” He said it then goes on to dry. “It goes into these big drying beds, where it's then moved by hand to allow the air and the sunlight to dry it. Then, it goes off to a big polishing station or dry mill. There's this little husk left on the coffee bean. They remove that, they get it all cleaned up and then they package it — and that's how we receive it,” he said. After the company receives the coffee, it is weighed and goes on to the German-made coffee roaster to produce a roasted product, he explained. “From there, it's actually hand-packaged as well and hand-bagged. So it's a very person-intensive process.” For the production of specialty coffee, “each bean is probably touched by 40 different hands by the time it gets to you. That's an incredible amount of work, an incredible amount of labor, that goes into producing something,” Garret Kamps said. “I think it's so cool that Elko gets to be a part of that. Elko is experiencing something that is so much bigger than it.” Get the latest local business news delivered FREE to your inbox weekly. 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DSL: Some Caution Remains Despite An Enticing Distribution RateIRVING, Texas , Dec. 5, 2024 /PRNewswire/ -- Commercial Metals Company CMC today announced that it has been recognized on Newsweek's list of America's Most Responsible Companies 2025. This prestigious award is presented by Newsweek in collaboration with Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list can be viewed on Newsweek's website. "We are honored to have received this award for the third consecutive year and be counted among America's most responsible companies," said Peter R. Matt , President and Chief Executive Officer. "CMC's ranking on Newsweek's list reflects our continued dedication to caring for our people, minimizing our impact on our environment and making a positive impact on our communities. This performance is driven by the hard work of our employees across our organization who strive every day to uphold our core values." About CMC CMC is an innovative solutions provider helping build a stronger, safer, and more sustainable world. Through an extensive manufacturing network principally located in the United States and Central Europe , we offer products and technologies to meet the critical reinforcement needs of the global construction sector. CMC's solutions support construction across a wide variety of applications, including infrastructure, non-residential, residential, industrial, and energy generation and transmission. View original content: https://www.prnewswire.com/news-releases/cmc-recognized-as-one-of-americas-most-responsible-companies-by-newsweek-for-2025-302324280.html SOURCE Commercial Metals Company © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The Nigerian All-Share Index (ASI) wrapped up trading on December 5, 2024, on a slightly negative note, retreating by 60.88 points to close at 98,114.11. Despite maintaining its position just above the 98,000-threshold, the index recorded a modest decline of 0.06%, signaling a minor pullback even as market activity showed signs of life. In a notable turn, trading volume surged significantly, with a total of 722 million shares changing hands — a robust 38.52% increase compared to the previous session. Related Stories Market Wrap: All-Share Index climbs 472.43 points to 98,174.99 as GOLDBREW leads gainers, SUNUASSUR tops losers Market Wrap: All-Share Index gains 487.24 points as VITAFOAM leads gainers, PRESTIGE tops losers Market capitalization held steady at an impressive N59.4 trillion, buoyed by 8,495 individual transactions throughout the day. Among the day’s top performers, UPL led the charge with a 10.00% surge, closely followed by CORNERST, which also gained 10.00%. STERLINGNG rounded off the top three with a strong 9.98% increase. On the flip side, REDSTAREX led the losers, shedding 10.00% of its value, with FTNCOCOA following closely behind, dropping by 5.61%. In terms of trading activity, CHAMPION and FIDELITYBK emerged as the day’s most actively traded stocks, capturing the market’s attention with substantial volumes. Current ASI: 98,114.11 points Previous ASI: 98,174.99 points Day Change: +0.06% Year-to-Date Performance: +31.21% Volume Traded: 722.9 million shares Deals: 8,495 UPL: up 10.00% to N3.96 CORNERST: up 10.00% to N3.30 STERLINGNG: up 9.98% to N4.85 SUNUASSUR: up 9.98% to N4.63 GOLDBREW: up 9.84% to N4.91 REDSTAREX: down 10.00% to N4.41 FTNCOCOA: down 5.61% to N1.85 NPFMCRFBK: down 3.23% to N1.50 NEIMETH: down 2.78% to N2.10 PRESTIGE: down 2.50% to N0.78 On December 5, 2024, the Nigerian equities market experienced a significant uptick in trading activity, with volume rising by 38.52%. A total of 722 million shares exchanged hands, up from 521 million shares in the previous session. CHAMPION dominated the day’s trading, with a commanding 300.9 million shares traded, making it the most actively traded stock. FIDELITYBK followed with 48.5 million shares, while GTCO was not far behind, with 40.1 million shares changing hands. Other notable contributors included ACCESSCORP (35.6 million shares) and WAPCO, completing the top five with 29 million shares traded. Trading value: In terms of value, GTCO led the charge with a substantial N2.1 billion in transactions. WAPCO followed closely, with N2.0 billion in trade value, signaling continued investor interest. MTNN and CHAMPION also attracted significant attention, contributing N1.9 billion and N1.2 billion to the day’s total value, respectively. ACCESSCORP rounded out the top five with N858.8 million in transactions, further reflecting robust investor engagement in key stocks. Among the SWOOT stocks — those with market capitalizations exceeding N1 trillion — only ARADEL experienced a decline, shedding 1.48% during the session. Meanwhile, the FUGAZ group, which includes FBNH, UBA, GTCO, ACCESSCORP, and ZENITH BANK, saw positive price movements across the board. ACCESSCORP led the charge with a notable 1.84% increase, followed by GTCO with a modest 0.19% gain, and UBA with a slight uptick of 0.15%. On the other hand, FBNH saw a small dip of 0.38%, while ZENITH BANK experienced a more significant decline of 1.68%. If the positive momentum among individual stocks continues in the coming sessions, there is potential for the index to climb toward the 99,000 mark and surpass the N60 trillion market capitalization threshold. With bullish sentiment steadily building across multiple sectors and sustained investor interest, the Nigerian equities market is expected to maintain its upward trajectory in the near term.
ablokhin/iStock Editorial via Getty Images UK-based Ocado Group ( OTCPK:OCDGF ), founded and run by CEO Tim Steiner, has come a long way in its quest to revolutionize online grocery retail. Today, Ocado operates via three business segments. The largest revenue generator remains Ocado Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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Zac Brown thrilled to end year performing at his home baseIsraeli attorney general orders probe into report that alleged Netanyahu's wife harassed opponentsNEW YORK (AP) — Walmart's sweeping rollback of its diversity policies is the strongest indication yet of a profound shift taking hold at U.S. companies that are re-evaluating the legal and political risks associated with bold programs to bolster historically underrepresented groups. The changes announced by the world's biggest retailer on Monday followed a string of legal victories by conservative groups that have filed an onslaught of lawsuits challenging corporate and federal programs aimed at elevating minority and women-owned businesses and employees. 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.
