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Street edges lower following inflation data, Disney, banks

NEW YORK (AP) — Wall Street edged lower Thursday, weighed down by a sharp drop for The Walt Disney Co. and flaring fears about the health of some U.S. banks. The S&P 500 lost 7.02 points, or 0.2%, to 4,130.62, with two out of every three stocks in the index falling. The Dow Jones Industrial Average lost 221.82, or 0.7%, to 33,309.51, while the Nasdaq composite rose 22.06, or 0.2%, to 12,328.51. Disney was one of the heaviest weights dragging on the market. It dropped 8.7% after it said it lost streaming subscribers in the U.S. and Canada last quarter, surprising analysts. That was ...

Asian shares mixed in choppy trading

TOKYO (AP) — Asian shares were mixed in choppy trading Thursday after a report showed evidence that inflation in the United States was cooling, even if it remains too high. Japan’s benchmark Nikkei 225 dipped 0.2% in morning trading to 29,062.04. Australia’s S&P/ASX 200 slipped 0.3% to 7,233.10. South Korea’s Kospi added 0.4% to 2,506.48. Hong Kong’s Hang Seng lost 0.1% to 19,741.89, while the Shanghai Composite was little changed, inching up less than 0.1% to 3,319.80. Concerns about the Chinese economy remain a major focus, especially for the Asian region, with the latest ...

Ohio opioid settlement panel’s records must be public, top state court says

COLUMBUS, Ohio (AP) — The state panel that will decide how Ohio distributes more than half of the money it will receive from a nationwide settlement regarding the opioid addiction crisis must make its records publicly available, the state Supreme Court ruled Thursday. In their unanimous ruling, the justices rejected the OneOhio Recovery Foundation’s claim that it was a private nonprofit corporation and therefore not subject to the state’s open public records law. The justices found the foundation “misstates its function,” noting it’s not responsible for providing treatment, ...

Street mixed after inflation report

NEW YORK (AP) — Wall Street is mixed on Wednesday after a report showed inflation is making strides toward easing, even if it remains too high. The S&P 500 was 0.4% higher in late trading after swinging between gains and losses through the day. The Dow Jones Industrial Average was down by 89 points, or 0.3%, at 33,473 with about 45 minutes left in trading, while the Nasdaq composite was 1% higher. Bond prices climbed after the highly anticipated report said inflation at the consumer level edged down to 4.9% last month, its lowest level in two years. That was slightly better than ...

Fed’s Barkin: Inflation still ‘stubbornly high’

The Associated Press Inflation remains “stubbornly high” and is no longer making much progress toward the Federal Reserve’s 2% target, a top Fed official said Wednesday, hours after price data for April were released. In an interview, Tom Barkin, president of the Federal Reserve Bank of Richmond, said he is also seeing some signs that banks in his region — which includes Virginia, North Carolina, South Carolina and West Virginia — are slowing their lending. It isn’t yet clear, he said, what consequences that trend might have on the economy and inflation. For now, Barkin ...

Lachlan Murdoch explains settlement

NEW YORK (AP) — Fox News paid $787 million to settle a recent lawsuit on its reporting after the 2020 election to avoid a divisive trial and lengthy appeals process, its parent company’s chief executive said on Tuesday. Lachlan Murdoch, executive chairman and CEO of Fox Corp., also noted that a Delaware judge “severely limited” Fox’s defenses against Dominion Voting Systems, which said the network defamed it by airing bogus charges of election fraud that it knew was untrue. Fox Corp. announced Tuesday that it had lost $50 million the previous three months, which it ...