Business Headlines
Nvidia and other Big Tech stocks lift the US market despite drops for Apple and much of Wall Street
NEW YORK (AP) — A rebound for some influential Big Tech stocks lifted the U.S. market on Tuesday despite a drop for Apple and mixed trading elsewhere on Wall Street. The S&P 500 rose 0.4%, even though most of the stocks within the index fell. The Dow Jones Industrial Average dropped 197 points, or 0.4%, and the Nasdaq composite climbed 0.8%. The stock market has been shaky recently as technology and artificial-intelligence stocks swing on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks were firmer Tuesday, which supported the market, after flipping from gains in the morning to losses in the afternoon a day earlier. Nvidia rose 2.3% and was ... Read More
Where do gas prices stand in key states on Election Day?
Where average gas prices stand in the states that could determine control of the Senate. (AAA)Drivers continue to weather high gas prices as affordability remains a top concern for voters.The national average price of a gallon of gas stands at $4.14, marking an increase of $1.16, or 38%, since the outbreak of the Iran war in February, AAA data showed.Prices vary across the country, however, meaning fuel costs differ in the key states expected to determine control of Congress.Excluding Senate races classified as solidly red or blue, ABC News lists races of varying levels of competitiveness in 16 states: Alaska, Iowa, Kansas, Maine, Michigan, Ohio, Texas, Nebraska, South Carolina, Minnesota, New Hampshire, Georgia, North Carolina, Florida, Louisiana and Mississippi.Among those ... Read More
US job postings jumped sharply in September, potentially a good sign for anyone seeking employment
WASHINGTON (AP) — U.S. employers ramped up their job postings in September as stronger economic growth may be encouraging more hiring. Yet voters are headed to the polls Tuesday largely gloomy over an economy beset by higher prices. U.S. job openings jumped to 7.5 million from a revised 7.19 million in August, the Labor Department reported Tuesday. It is the largest number of openings since May and up from a recent low of 6.9 million in March. The department’s Job Openings and Labor Turnover Survey (JOLTS) also showed that gross hiring — job gains before subtracting people who quit or lost jobs — rose and layoffs fell in September. The increases are a hopeful sign that hiring could improve, but ... Read More
Nvidia and other Big Tech stocks lift Wall Street and make up for a drop by Apple
NEW YORK (AP) — A rebound for several influential Big Tech stocks is helping to lift the U.S. market on Tuesday despite a fall for Apple and mixed trading elsewhere on Wall Street. The S&P 500 rose 0.6%, even though more stocks fell within the index than rose. The Dow Jones Industrial Average was down 87 points, or 0.2%, as of 11 a.m. Eastern time, and the Nasdaq composite was 1.1% higher. The stock market has been shaky recently as technology and artificial-intelligence stocks have swung on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks held firmer Tuesday, which supported the market, after flipping from gains in the morning to ... Read More
Tech losses weigh on global markets ahead of US midterm elections, while oil prices rise
HONG KONG (AP) — World shares fell and U.S. futures also declined Tuesday as investors awaited the outcome of the U.S. midterm elections. Oil prices climbed after the United States conducted defensive strikes on some Iranian targets in the Strait of Hormuz. The outcome of Tuesday's vote could fundamentally reshape U.S. President Donald Trump's final two years in the White House. Republicans and Democrats are battling for control of Congress and key governors' offices at a time of widespread disaffection over high prices. In early European trading, the CAC 40 in Paris fell 0.4% to 8,007.84, Britain’s FTSE 100 slid 0.3% to 10,726.55, and Germany’s DAX declined 0.9% to 25,760.67. The future for the S&P 500 was down 0.3% and ... Read More
US stocks recover some of last week’s sell-off after oil prices fall sharply
NEW YORK (AP) — The U.S. stock market is rising Monday and recovering some of last week's sell-off that was led by the tech and AI industries. The S&P 500 climbed 0.6%, coming off its third straight losing week, and pulled within 2.5% of its all-time high. The Dow Jones Industrial Average was up 539 points, or 1%, as of 11:45 a.m. Eastern time, and the Nasdaq composite was 0.7% higher. Stocks got a lift from sharp drops for oil prices, which headed back down in their latest yo-yo move on uncertainty about when the war with Iran will allow the global industry to return to normal. The price for a barrel of Brent crude, the international standard, fell 7.4% ... Read More
FBI blames North Korea for stolen billions from Binance in biggest hack in history
[caption id="attachment_1554555" align="alignnone" width="1024"] FILE - The Binance logo is seen on a smartphone, Feb. 28, 2023, in Marple Township, Pa. (AP Photo/Matt Slocum, File)[/caption]New York (AP) — The theft of billions of dollars from Binance within a matter of minutes, the biggest crypto heist in history, was orchestrated by North Korean hackers, the FBI said Saturday. The bureau said in a statement that this week's attack was tied to “malicious cyber activity” by an entity known as TraderTraitor, the same actors behind a $1.5 billion Bybit hack last year. The FBI asked crypto exchanges, blockchain analytics companies and others to block transactions linked to various addresses to make sure the money is not laundered to cover up its origins. ... Read MoreWall Street drops to its worst day since June after the sell-off for tech stocks deepens
NEW YORK (AP) — A sell-off for tech stocks got even worse Friday on worries that Wall Street’s frenzy around artificial-intelligence technology sent prices too high. The S&P 500 tumbled 1.8% for its worst day since June, and it closed out a third straight losing week. The weakness for technology stocks dragged the Nasdaq composite down a market-leading 2.9%, while the Dow Jones Industrial Average dropped 572 points, or 1.1%. The U.S. stock market remains only 3.1% below its all-time high, which has boosted the value of workers’ 401(k) accounts, but it’s become increasingly shaky as Tuesday’s midterm elections in the United States approach. Worries about AI in general have already become a concern for voters across political parties, and ... Read More
The sell-off for tech stocks worsens and overwhelms Wall Street
NEW YORK (AP) — A sell-off for tech stocks is barreling into Friday and forcing the U.S. market down again, with Intel and Amazon helping to lead the way this time. The S&P 500 fell 1.6% and was on track to erase its gain for October, even though it set its all-time high during the month. The weakness for technology stocks dragged the Nasdaq composite down 2.5%, as of 11:48 a.m. Eastern time. The Dow Jones Industrial Average fell a more modest 0.7%, or 380 points. Intel tumbled 28.6% and is flirting with its worst day since 1974, even though the chipmaker reported a stronger profit for the latest quarter than analysts expected. It gave a forecast for profit in ... Read More
GDP report set to provide snapshot of economy ahead of midterm elections
Getty Images / Stock ImageFresh data to be released on Thursday is set to provide the latest snapshot of the United States economy, just days before the midterm elections.The report, which will detail gross domestic product over a three-month period ending in September, will arrive as the U.S. weathers a monthlong surge of inflation.In response to rising prices, a key long-term Treasury rate has jumped in recent months as investors feared price increases would eat away at their returns. The rise in bond yields has pushed up rates for loans like credit cards and mortgages, threatening to worsen the financial crunch.Still, the economy has proven resilient by some measures. Hiring has continued to grow, albeit at a slower pace, while ... Read More
Federal Reserve holds interest rates steady as midterm elections loom
Federal Reserve Chair Kevin Warsh delivers remarks during a news conference following the Federal Open Market Committee meetings at Federal Reserve Headquarters on Oct. 28, 2026, in Washington, D.C. The Federal Reserve will leave interest rates unchanged even as inflation remains elevated. (Photo by Alex Wong/Getty Images)The Federal Reserve held interest rates steady on Wednesday as the economy faces a monthslong surge of inflation ahead of the midterm elections.The Fed's benchmark interest rate currently stands between 3.75% and 4%. That level marks a significant drop from a recent peak attained in 2023, but rates stand well above a 0% level established at the outset of the COVID-19 pandemic.An acceleration of price increases this year has posed a challenge for Fed ... Read More
Former DOJ attorneys launch AI company to help lawyers help more people
STOCK PHOTO/Getty ImagesTwo former Justice Department officials on Wednesday launched FluxCap, a new artificial intelligence platform they say could help lawyers take on cases that might otherwise never make it to court.Handling major cases can require a large team of lawyers, months of work, and tons of money – a longstanding problem that often puts smaller firms, government agencies and everyday people at a disadvantage against companies with far more resources."What kept us up at night at the Department of Justice were not the cases we brought, but the cases we didn't have the chance to bring," FluxCap co-founder and co-CEO Jonathan Kanter told ABC News.Kanter and fellow co-founder and co-CEO Doha Mekki, who both previously led the DOJ's antitrust ... Read More
Federal Reserve set to issue interest rate decision as midterm elections loom
Getty Images / Stock PhotoThe Federal Reserve is set to issue an interest rate decision on Wednesday as a surge of inflation puts pressure on central bankers to raise rates days before the midterm elections.An acceleration of price increases this year has posed a challenge for Fed officials tasked with containing inflation. The central bank raised interest rates a quarter of a percentage point last month in an effort to battle back price woes. The move marked the first rate increase in three years.The rate hike should help cool off inflation by slowing the economy and eating away at demand, though such a policy move typically yields results after a lag time lasting several months.Policymakers may lose patience as they ... Read More
Anthropic’s SEC filing devotes 90 pages to risk as it prepares for IPO
Philadelphia police officials said an Anthropic AI model submitted a false tip, July 18, 2026, in a homicide investigation. (Leon Neal/Getty Images)As it prepares for its initial public stock offering, Anthropic has outlined in a Securities and Exchange Commission filing the risks to would-be investors, including the possibility that its artificial intelligence models could pose a "catastrophic or existential risk to humanity."Typically, companies making public stock offerings file a report with the SEC warning of the potential downsides of investing, such as competition from rivals, market demands and talent development. Anthropic, however, devoted an unusual amount of attention to potential risks in its preliminary prospectus, or S-1 filing, submitted on Monday to the commission.Of the roughly 300-page report, about 90 ... Read More
Anthropic preps for initial public stock offering in major step for AI company
The Anthropic logo is seen displayed on a smartphone screen. (Thomas Fuller/SOPA Images/LightRocket via Getty Images)Anthropic, the company behind the AI chatbot Claude, filed papers Monday to prepare for a potential initial public offering (IPO), taking a major step toward a listing on public markets.The long-anticipated move comes months after Anthropic said it had "confidentially submitted a draft registration statement on Form S-1" with the Securities and Exchange Commission.Monday's filing touts AI as "one of the most consequential technologies in human history. If managed well, it could rapidly accelerate scientific innovation, greatly increase economic growth rates, bring cures for major diseases within reach, and solve problems that have resisted generations of human effort."At the same time, "To build AI is ... Read More
Consumer sentiment nears all-time low ahead of midterms
A gas station employee fills a truck up with diesel fuel on Oct. 16, 2026, in Bayonne, New Jersey. (Spencer Platt/Getty Images)Consumer sentiment stands near the lowest level numerically ever recorded in the 74-year history of the University of Michigan's monthly survey, just weeks before the U.S. midterm elections.Shopper attitudes stayed near their lowest levels in October as inflation squeezed household budgets and a global fuel supply shortage kept gasoline prices elevated, according to fresh data released on Friday.The final reading of the University of Michigan index registered at 48.0 in October, marking the second-lowest final reading ever recorded. The reading was 48.1 in September, not significantly higher than this month's reading.The index hit a historic low of 44.8 in ... Read More
Gas prices unlikely to fall below $4 a gallon before midterms, some experts say
A customer stands at a gas station on Oct. 17, 2026, near Fresno, California. (Mario Tama/Getty Images)High gas prices continue to weigh on wallets as voters list affordability as a top concern ahead of early November's midterm elections.The national average price of a gallon of gas stands at $4.27, marking an increase of nearly $1.30, or 43%, since the outbreak of the Iran war in February, AAA data showed.Fuel prices are unlikely to ease significantly before Election Day on Nov. 3, some analysts told ABC News, predicting gas prices would all but certainly remain above $4 a gallon.Analysts attributed elevated gas prices to ongoing fighting in the Middle East, which has damaged oil infrastructure and forced firms to take up ... Read More
Meta ordered to pay New Mexico $25 billion for violating consumer protection laws
A New Mexico judge ordered Meta to pay the state $25 billion, October 21, 2026, after a jury found the company liable for deceiving Facebook users about privacy and content moderation policies. (Justin Sullivan/Getty Images)A judge has ordered Meta to pay New Mexico $25 billion after a jury found the social media giant liable for violating consumer protection laws.Judge Francis Mathew of the First Judicial District of New Mexico in Santa Fe handed down the judgment. The state had asked for a penalty of between $35 billion and $45 billion.Meta told ABC News on Wednesday that it will appeal the judgment.In September, jurors found Meta liable for violating New Mexico's consumer protection laws when the political consulting firm Cambridge Analytica ... Read More
OpenAI says its AI agents disabled their own monitoring
In this photo illustration, the OpenAI logo is seen displayed on a smartphone screen. (Thomas Fuller/SOPA Images/LightRocket via Getty Images)OpenAI says artificial intelligence agents powered by the company's models weakened internal safety monitoring systems while executing tasks, and one agent subsequently denied having done so.In a report updated on Tuesday, OpenAI identified two recent incidents, one in which an AI agent "suppress[ed] monitoring notifications," and another in which an agent removed a monitoring integration.In both cases, the AI agents considered whether monitoring safeguards should be preserved but interpreted routine coding instructions as permission to weaken them.In the first instance, which the company dates to Oct. 3, an AI agent working on a repair "disabled automatic alerts to our Security team, ... Read More
Global oil prices hit highest level in 5 months amid attacks on ships, facilities
Saudi Aramco's Shaybah oilfield operates in Shaybah, in the Rub' Al-Khali desert in Saudi Arabia on Tuesday, Oct. 2, 2018. (Simon Dawson/Bloomberg via Getty Images)Global oil prices climbed to their highest level in five months on Tuesday after Iran and its Houthi allies claimed attacks on oil infrastructure in the Middle East.The Brent crude futures price, a benchmark for global trading, topped $111 a barrel for the first time since May before retreating to $110.30 a barrel. The latest reading marks a rise of more than 55% since the Iran war began in late February.An oil shortage continues to bedevil crude sellers, who typically pass along elevated costs to refiners, leading to higher prices at the pump.The United Kingdom Maritime ... Read More
Elon Musk vows to give a share of SpaceX stock to every US child
SpaceX CEO Elon Musk attends the Golden Age of American Innovation Summit at the Institute of Peace on Oct. 8, 2026, in Washington, D.C. (Win McNamee/Getty Images)Elon Musk, the world's wealthiest person, on Monday vowed to give every child in the United States a share of stock in aerospace giant SpaceX.The company, which Musk leads as founder and CEO, boasts a valuation of nearly $2 trillion, with Musk the largest individual shareholder. A share of SpaceX was worth about $150 as of Monday morning."Next year, I will give one of my SpaceX shares to every kid in America. This will be the first of many," Musk said in a post on X.Musk did not provide additional details about how or ... Read More
Fed Chair Kevin Warsh warns of AI ‘shock’ for economy, pledges to contain inflation
The Nscale data center project in Barstow, Texas, Oct. 15, 2026. (Eli Hartman/Bloomberg via Getty Images)Federal Reserve Chair Kevin Warsh warned of a potential "shock" to the U.S. economy delivered by a rise in artificial intelligence spending, pledging to contain price increases as a flood of private sector funds drives up demand."If you’re a central banker, you’re in the business of trying to ensure stable prices and full employment, you’ve got to recognize this as a shock," Warsh said in Bangkok, Thailand, at a conference organized by the International Monetary Fund.A surge in AI spending has helped boost the U.S. economy in recent quarters. In theory, an onrush of investment in activities like chip manufacturing and data center construction could ... Read More
Which grocery prices are rising the fastest and which are falling?
Produce is offered for sale at a grocery store on Sept. 10, 2026, in Chicago, Illinois. (Scott Olson/Getty Images)Grocery prices ticked lower in September, according to the latest government data, cooling off slightly from a surge earlier this year.The drawdown provides some relief for shoppers, but they may notice uneven price changes as they browse different parts of the grocery store.Costs dropped last month for meat, ice cream and bread, among other foods. However, prices climbed for the likes of coffee, candy and fresh fruit.Overall, grocery prices dropped 0.1% on a seasonally adjusted basis last month, leaving them 1.8% higher than a year earlier, U.S. Bureau of Labor Statistics (BLS) data released on Thursday showed.That year-over-year figure came in well ... Read More
Gas prices set record for highest number of days above $4 a gallon in a calendar year
A customer purchases gas at a station on Sept. 15, 2026, in Chicago, Illinois. (Scott Olson/Getty Images)The national average gas price has topped $4 a gallon for a total of 158 days in 2026, setting a record for the largest number of days ever recorded above $4 in a calendar year, GasBuddy petroleum analyst Patrick De Haan said in a post on X on Wednesday.The Iran war caused gasoline prices to surge after fighting in the Strait of Hormuz prompted a historic oil supply shock.An oil shortage continues to bedevil crude sellers, who typically pass along higher costs to retailers and, in turn, drivers at the pump. Global oil prices register above $106 a barrel, marking a 50% jump from ... Read More
Social Security Administration says cost-of-living adjustment will rise 3.6% in 2027
(Getty Images stock photo/Douglas Sacha)Social Security benefits will increase 3.6% beginning in January for more than 70 million recipients, the Social Security Administration (SSA) said on Wednesday.The cost-of-living adjustment for 2027, known as COLA, came in markedly higher than the prior year's hike of 2.8%.The annual uptick in Social Security benefits aims to keep payments on pace with inflation, which surged in the spring after the outbreak of the Iran war.The rise in Social Security payments for 2027 amounts to an average increase of about $75 a month for each recipient, the SSA said.The announcement on Wednesday came after inflation data for September showed price hikes had climbed to a four-month high due in large part to a surge in ... Read More
Inflation climbs in September as gas prices surge
People shop in a grocery store on Oct. 14, 2026, in Miami, Florida.The Labor Department data released today shows that the U.S. annual inflation rate rose to 3.7% in September 2026, up from 3.4% in each of the previous two months and above market expectations of 3.6%. (Joe Raedle/Getty Images)Inflation climbed to a 4-month high in September as the Iran war continued to drive up gasoline prices, according to federal government data released on Wednesday. The reading came in slightly above economists' expectations.Prices rose 3.7% in September compared to a year earlier, marking an uptick from an annual inflation rate of 3.4% in the prior month.Inflation stands well above a rate of 2.4% recorded in February prior to the outbreak ... Read More
OpenAI sued by safety group over autonomous hack of Hugging Face
CEO of OpenAI Sam Altman speaks during a United Nations Security Council meeting on artificial intelligence and international security on Sept. 23, 2026, in New York City. (Alexi J. Rosenfeld/Getty Images)(NEW YORK) -- A nonprofit artificial intelligence safety group has sued OpenAI over a July incident in which the company’s autonomous AI agents accessed the computer systems of another firm, Hugging Face, without authorization during a cybersecurity test.Legal Advocates for Safe Science & Technology (LASST) filed the lawsuit late Tuesday in San Francisco Superior Court, alleging roughly 700 of the company's AI agents participated in the breach.The AI agents stole credentials, uploaded malicious files and gained access to parts of Hugging Face’s production infrastructure, the lawsuit claims.A spokesperson for OpenAI ... Read More
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