Gryffin, a 4-week-old puppy, meets a huge Bernese Mountain Dog named Eiger!
Gryffin, a 4-week-old puppy, meets a huge Bernese Mountain Dog named Eiger!
Asian shares rose early on Tuesday, shrugging off worries about an increase in regional coronavirus infections and a subdued session on Wall Street, as inflation jitters helped push gold prices to three-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.13% after a mixed session on Monday. Spot gold traded around $1,871.46 an ounce, near a three-and-a-half month high, after the Empire State Manufacturing Survey, produced by the New York Fed, showed the highest prices paid since the series began in 2001.
Both teams from New York are away from home this week and each one is having a painful road trip. After arriving in Atlanta, the Mets placed outfielder Michael Conforto and second baseman Jeff McNeil on the 10-day injured list Monday with strained hamstrings. Both players were hurt in Sunday’s loss at Tampa Bay.
In the section with the header "First Quarter 2021 Financial Results", the last sentence of the fifth paragraph should read: The above includes $28.8 million in debt retirement, $15.1 million in transaction consideration, and $8.6 million in banker transaction fees (instead of: ...and $8.6 million in transaction fees). Also, in that same section, the third paragraph is corrected to read: Operating expenses in Q1 2021 were $61.9 million, which included $40 million of non-cash expenses, comprised of $25 million of the marketing expenses that were settled in shares for services provided under the Roc Nation Agreement. In addition, stock-based compensation of $6.2 million and depreciation & amortization of $7.9 million. The remaining $21.9 million in cash operating expenses were comprised of general and administrative costs of $9.5 million, salaries and benefits of $7.8 million, and sales and marketing expenses of $4.6 million.
(Bloomberg) -- Brent oil edged toward $70 a barrel with optimism building about the demand outlook in key regions such as the U.S., even as the coronavirus makes a comeback in parts of Asia.Futures in London climbed for a third session, while New York crude rose from the highest settlement in two years. The largest number of passengers passed through U.S. airports since the pandemic began, a sign of the domestic travel revival that’s boosting fuel consumption. The rebound in America along with China and Europe is offsetting concerns around weaker consumption in India.Oil is up almost 35% this year amid optimism fuel demand will increase as the vaccination drive accelerates across major economies and boosts mobility. The devastating resurgence in India and new outbreaks in regions that had largely contained the virus such as Taiwan, however, are a reminder that the recovery is going to be uneven and bumpy.“The market is clearly focused on U.S., Europe and China,” said Jeffrey Halley, a senior market analyst at Oanda Asia Pacific. Brent could climb to $72 a barrel quite quickly once it gets through strong resistance at $70, he added.The prompt timespread for Brent was 30 cents a barrel in backwardation -- a bullish structure were near-dated contracts are more expensive than later-dated ones. That compares with 18 cents a week earlier.Passengers checking in through security at U.S. airports surged to 1.85 million on Sunday, the highest since early March 2020, according to Transportation Security Administration data. The flurry of travelers making their way through terminals has steadily climbed for the past month and is now only about 30% lower than levels the TSA saw at the same time in 2019.A weaker U.S. dollar is also boosting the appeal of commodities such as oil priced in the currency. The Bloomberg dollar spot index was lower for a fourth session.More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The surge in commodities prices is failing to trigger some of the traditional responses in bonds and currencies.Unlike recent commodities rallies in 2008 and 2011, yields on Treasuries and currencies of major exporters like Australia have barely budged. Likewise, the Federal Reserve’s favored measure of inflation expectations has disconnected from moves in raw materials.The biggest buffer: Central bank credibility. Led by the Federal Reserve, policy makers have consistently doubled down on lower-for-longer rates and projections for “transitory” inflation. That’s left investors wary to bet against commitments to keep policy loose for the foreseeable future.“The big change this time around is central bank policy,” said Kerry Craig, global market strategist at JPMorgan Asset Management in Melbourne. Ultra-easy monetary policy is now “weighing down currencies that would have naturally risen a lot more during a cycle where commodity prices are rising.”The Australian and New Zealand dollars -- two major currencies whose fates usually rely heavily on trends in commodities consumed by China’s booming economy -- are indisputable laggards. Each has increased less than 0.3% over the past three months.The Canadian dollar, meanwhile, has surged more than 5% as the central bank signaled it may dial back stimulus. The loonie’s rapid rise could give way to pressure on officials to slow development and curb capital inflows, as is usually the case during commodities booms in Canada.Last week, both the U.S. consumer and producer price index reports surprised to the upside, adding fuel to the global inflation debate on the heels of strong Chinese producer price data. Yet the market reaction was relatively muted after the PPI figures -- with 5-year and 10-year yields easing alongside a weaker greenback.The Fed’s own new “common inflation expectations” gauge, which aggregates a range of such measures, is hovering around 2%, a level that officials want to see overshot for some time.Meanwhile, prices have accelerated for materials as disparate as copper, cotton, rubber and lumber, as well as semiconductors, amid supply disruptions and surging demand.The disparity is a sign of the times amid an evolution -- perhaps revolution -- of central banking. The Fed’s commitment to run the economy hot has rattled markets in part because it means abandoning what has long been a core of their strategy: to act preemptively to curb inflation.In this brave new world, market participants are still grappling with whether to trust that officials will act before price surges get out of control and do more harm than good -- balanced against the full-employment mandate.That message is getting through to traders of the Australian and New Zealand currencies, while for others, hints of monetary policy tightening are giving reason to pile in.“The Bank of Canada and Norges Bank are the only central banks in the developed world to give an unambiguous signal that they’re contemplating withdrawing monetary accommodation,” said Stephen Miller, Sydney-based investment consultant at GSFM, a unit of Canada’s CI Financial Corp. “The RBA has been so aggressively beating the drum on keeping the pedal to the metal that it’s worked in terms of keeping the Aussie lower despite iron ore prices soaring.”A closer look at breakeven rates offers further evidence that investors largely aren’t acting on any inflation worries. The U.S. 10-year breakeven, which has jumped to an eight-year high, isn’t sending a clear runaway-inflation message when viewed against long-term trends.If potential for runaway inflation were the trigger, the spot and forward breakeven curves would be upward-sloping, Cornerstone Macro analysts, led by ex-Fed official Roberto Perli, said in a May 11 report. Yet both are inverted, implying a market bet that inflation is temporary.To be sure, some of the usual correlations have broken down due to other pandemic-related worries. The Philippine peso, which usually moves in inverse with oil prices, is relatively stable given that inflation is damped by weak economic growth. That relationship underscores the central banking mantra these days that growth and employment should remain a greater focus than prices.Looking ahead, persistence in materials prices and further hints of wage gains could start to sway the Fed’s message -- and build momentum for investors to respond.“Recent record highs in metal prices are probably just the beginning,” Howie Lee, an economist at Oversea-Chinese Banking Corp., said in a May 11 report. Chinese demand and green-economy investment should keep iron ore and copper, especially, on the upswing, he said.(Updates currency data in fifth, sixth paragraphs and second chart.)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Covid has overrun India's hospitals, leaving many fighting to find treatment for sick relatives.
Yahoo Sports senior NBA reporter Vincent Goodwill gets us ready for basketball’s postseason - where it promises to be an unpredictable two months. Everybody has questions, every team has doubts, but what they all have is hope.
(Bloomberg) -- Argentina’s government is limiting exports of beef, a staple in the country, in the latest unorthodox move to try to contain runaway inflation that’s approaching 50% annually.President Alberto Fernandez told a key beef export association that they won’t be allowed to sell the product abroad for 30 days, according to a Production Ministry statement released late Monday. In that period, the government will determine a set of emergency measures for the sector.The measure shows that the government is willing to sacrifice much-needed dollars from exports to appease local consumers ahead of a key midterm election later this year. The country’s beef exports in 2020 amounted to roughly $3 billion, but the government may be more focused on the political cost of falling domestic consumption.“The president expressed his concern over the sustained growth in domestic beef prices over the last few months,” according to the statement. Discussion at the meeting also included “possible steps to restrict speculative practices” and fiscal evasion. Some of the measures will be adopted over coming days.Fernandez added that the 30-day period could be shortened if the implementation of the measures leads to “positive results,” the note added.Read more: Argentina Inflation Rose Faster Than Expected Again in AprilArgentine beef exports have been surging for four years and reached a record in the first two months of 2021, according to beef group Ciccra. The suspension resembles similar policy decisions during 2003-2015 under the presidencies of Nestor Kirchner and his successor, Cristina Fernandez de Kirchner, which led cattle numbers to plunge and the country losing market share in the international market.The government last month formalized a registry to ensure domestic supplies of beef at accessible prices as well as monitor shipments and supplies at home.Not all beef cuts may be included in the resolution, which has not yet been published, according to a person with knowledge of the matter. The story was first reported by local newspaper La Nacion.(Updates with government statement in second paragraph)More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Maersk Drilling sold two oil drilling rigs to U.S.-based energy infrastructure company New Fortress Energy Inc (NFE) which it will convert into floating liquefied natural gas (LNG) facilities, the companies said on Monday. Maersk sold the jack-up drilling rig Maersk Guardian to NFE and the two companies have agreed to the sale of the Maersk Gallant rig for closing in June for a total price of $31 million for both, Maersk said in a statement. A NFE spokesman confirmed in a separate email that the purchases are part of the company's strategy to expand into the burgeoning global LNG market by using existing infrastructure to save on costs.
Taiwan is mobilising its diplomatic corps to hunt for speedier delivery of COVID-19 vaccines - a quest that has become more urgent since a sudden rise in domestic cases on an island that has vaccinated less than 1% of its population. Taiwan has reported more than 700 new domestic infections during the past week, leading to new curbs in the capital, Taipei, and shocking a population that had become accustomed to life carrying on almost normally with the pandemic well under control. Taiwan, a major semiconductor manufacturing hub, has only received about 300,000 shots so far for its more than 23 million people, all AstraZeneca Plc vaccines, and those are rapidly running out.
WASHINGTON (AP) — The Supreme Court agreed Monday to a showdown over abortion in a case that could dramatically alter nearly 50 years of rulings on abortion rights. With three justices appointed by President Donald Trump part of a 6-3 conservative majority, the court is taking on a case about whether states can ban abortions before a fetus can survive outside the womb. Mississippi, which is asking to be allowed to enforce an abortion ban after 15 weeks of pregnancy, is not asking the court to overrule the 1973 Roe v. Wade decision confirming a woman's right to an abortion, or a decision 19 years later that reaffirmed it. But abortion rights supporters said the case is a clear threat to abortion rights. “The court cannot uphold this law without overturning the principal protections of Roe v. Wade,” Nancy Northup, president and CEO of the Center for Reproductive Rights, said in a call with reporters. Even if the court does not explicitly overrule earlier cases, a decision favorable to the state could lay the groundwork for allowing even more restrictions on abortion, including state bans on abortion once a fetal heartbeat is detected, as early as six weeks. The case probably will be argued in the fall, with a decision likely in the spring of 2022 during the campaign for congressional midterm elections. Mississippi’s ban had been blocked by lower courts as inconsistent with Supreme Court precedent that protects a woman’s right to obtain an abortion before the fetus can survive outside her womb. “States may regulate abortion procedures prior to viability so long as they do not impose an undue burden on the woman's right, but they may not ban abortions. The law at issue is a ban,” Judge Patrick Higginbotham of the 5th U.S. Circuit Court of Appeals wrote in affirming a lower-court ruling that invalidated the law. The Supreme Court had previously turned down state appeals over previability abortion bans. More than 90% of abortions take place in the first 13 weeks of a woman’s pregnancy, according to the Centers for Disease Control and Prevention. John Bursch, vice president of the anti-abortion Alliance Defending Freedom, said the high court has repeatedly held that states can regulate abortions later in pregnancy. Viability “has never been a legitimate way to determine a developing infant’s dignity or to decide anybody’s legal existence,” Bursch said. The justices had put off action on the case for several months. Justice Ruth Bader Ginsburg, an abortion rights proponent, died just before the court’s new term began in October. Her replacement, Justice Amy Coney Barrett, is the most open opponent of abortion rights to join the court in decades. Barrett is one of three Trump appointees on the Supreme Court. The other two, Justices Neil Gorsuch and Brett Kavanaugh, voted in dissent last year to allow Louisiana to enforce restrictions on doctors that could have closed two of the state’s three abortion clinics. Chief Justice John Roberts, joined by Ginsburg and the other three liberal justices, said the restrictions were virtually identical to a Texas law the court struck down in 2016. But that majority no longer exists, even if Roberts, hardly an abortion rights supporter in his more than 15 years on the court, sides with the more liberal justices. White House press secretary Jen Psaki said the Biden administration backs legislation that would write the Roe decision into federal law, regardless of the outcome of the Supreme Court case. The legislation would put an end to state efforts to ban abortion, Northup said. The Mississippi law was enacted in 2018, but was blocked after a federal court challenge. The state's only abortion clinic remains open. About 10% of its abortions are done after the 15th week, said Shannon Brewer, the clinic director at Jackson Women’s Health Organization. The case is separate from a fight over laws enacted by Mississippi and other states that would ban most abortions when a fetal heartbeat is detected. Mississippi also is among 11 states with a total abortion ban waiting to take effect if the Supreme Court overturns its Roe decision, according to NARAL Pro-Choice America. A central question in the case is about viability — whether a fetus can survive on its own at 15 weeks. The clinic presented evidence that viability is impossible at 15 weeks, and the appeals court said that the state “conceded that it had identified no medical evidence that a fetus would be viable at 15 weeks.” Viability occurs roughly at 24 weeks, the point at which babies are more likely to survive. But the state argues that viability is an arbitrary standard that doesn't take sufficient account of the state's interest in regulating abortion. The Mississippi law would allow exceptions to the 15-week ban in cases of medical emergency or severe fetal abnormality. Doctors found in violation of the ban would face mandatory suspension or revocation of their medical license. Also on Monday the Supreme Court: — Split 6-3 along conservative-liberal lines to rule that prisoners who were convicted by non-unanimous juries before the high court barred the practice a year ago don’t need to be retried. The decision affects prisoners who were convicted in Louisiana and Oregon as well as the U.S. territory of Puerto Rico, the few places that had allowed criminal convictions based on divided jury votes. — Sided unanimously with a man who sued after police entered his home without a warrant and seized his guns. Police said that the man was potentially suicidal and that they were performing a “community caretaking” function. The justices said authorities can’t use that justification to enter a home without a warrant. — Ruled 7-1 that an appeals court should take another look at a lawsuit involving global warming that is in its early stages. Lawyers have been arguing over whether the case belongs in state or federal court. ___ Associated Press writer Jessica Gresko contributed to this report. Mark Sherman, The Associated Press
Frontera Energy Corporation (TSX: FEC) ("the Company") today stated that it is maintaining its production outlook for the year as it has had no material impacts from recent events in Colombia. The Company will, as it always has, consult with its stakeholders, lever its strong transportation and logistics network, monitor the situation and provide the market with any updates as appropriate. The health and safety of our employees, contractors, service providers and communities where we operate remains our number one priority.
VANCOUVER — A former British Columbia government cabinet minister who left politics almost a decade ago to work in the private sector says he's entering the Liberal party's leadership contest. Kevin Falcon announced his leadership bid Monday, saying he wants to rebuild, renew and rename B.C.'s Liberal Party, which has lost its way since the 2017 election. Falcon is the third candidate to enter the Feb. 5, 2022 leadership race, joining Ellis Ross, the Liberal member of the legislature for Skeena, and Gavin Dew, a Vancouver entrepreneur and former Liberal byelection candidate. Liberal transportation critic Michael Lee signalled Monday he is also preparing a leadership bid with a social media post declaring he was "ready to run." Falcon, a former B.C. finance, health and transportation minister, says he left politics in 2013 to spend more time with his young family, but he's now seeking the leadership to protect both his family's and the province's future from what he says is NDP mismanagement. Falcon, first elected in Surrey-Cloverdale in 2001, is making his second bid for party leader after being defeated by former leader Christy Clark in 2011. "My belief is if you share our principles of a private sector driven economy, generating sufficient revenues to support first-class public services, then you ought to be part of our party regardless of your sexual orientation, regardless of your gender, regardless of your ethnic or socio-economic background," says Falcon. "I'm just genuinely really concerned about the direction the NDP is going in," he says in an interview. "They're just essentially reprising their playbook from the 1990s and I know where that's going to lead and I'm very concerned about it." This report by The Canadian Press was first published Monday, May 17, 2021. The Canadian Press
WASHINGTON (AP) — The Treasury Department said Monday that 39 million families are set to receive monthly child payments beginning on July 15. The payments are part of President Joe Biden's $1.9 trillion coronavirus relief package, which expanded the child tax credit for one year and made it possible to pre-pay the benefits on a monthly basis. Nearly 88% of children are set to receive the benefits without their parents needing to take any additional action. “This tax cut sends a clear and powerful message to American workers, working families with children: Help is here,” Biden said in remarks at the White House. Qualified families will receive a payment of up to $300 per month for each child under 6 and up to $250 per month for children between the ages of 6 and 17. The child tax credit was previously capped at $2,000 and only paid out to families with income tax obligations after they filed with the IRS. But for this year, couples earning $150,000 or less can receive the full payments on the 15th of each month, in most cases by direct deposit. The benefits total $3,600 annually for children under 6 and $3,000 for those who are older. The IRS will determine eligibility based on the 2019 and 2020 tax years, but people will also be able to update their status through an online portal. The administration is also setting up another online portal for non-filers who might be eligible for the child tax credit. The president has proposed an extension of the increased child tax credit through 2025 as part of his $1.8 trillion families plan. Outside analysts estimate that the payments could essentially halve child poverty. The expanded credits could cost roughly $100 billion a year. Josh Boak, The Associated Press
Filament Ventures Corp. ("Filament" or the "Company"), an exclusively-natural psychedelic drug discovery and extraction company, is pleased to announce that it has entered into an agreement with Echelon Wealth Partners Inc. and Canaccord Genuity Corp. (together, the "Co-Lead Agents") to sell, by way of a private placement on a best efforts basis, up to that number of subscription receipts of the Company (the "Subscription Receipts") at a price of C$0.40 - C$0.50 per Subscription Receipt (the "Issue Price") to raise aggregate gross proceeds of up to C$10,000,000 (the "Offering").
LAKE CHARLES, La. (AP) — Heavy rains in western Louisiana flooded streets, left cars stranded and heightened worries in a region hammered by two hurricanes last year and a deep freeze this winter. The National Weather Service said in a Facebook post Monday that south Lake Charles got the heaviest rainfall with about 12 to 15 inches (30 to 38 centimeters) falling there in a 12-hour period. But the rainfall wasn't limited to that one area. Numerous areas in Calcasieu Parish where Lake Charles is located saw totals of 8 to 10 inches (20 to 25 centimeters) of rainfall Monday. The mayor of Lake Charles, Nic Hunter, told The Advocate that they didn't have an exact number of flooded homes but that it would likely be in the hundreds. Hunter was mayor last fall when the city was hit by Hurricane Laura on August 27 and then six weeks later by Hurricane Delta. “We will continue to be resilient through this event. But I will admit it would be nice if Mother Nature would give us a break," Hunter told the newspaper. Parts of southeastern Texas and western Louisiana were under flash flood warnings on Monday afternoon, according to the National Weather Service's Lake Charles office. Several inches (centimeters) of rain also feel on parts of Arkansas. Tornadoes also were a threat as storms pounded south Louisiana. In Lafayette, The Daily Advertiser reported that multiple warnings of possible tornadoes prompted shelter-in-place warnings at area schools, where students were held past the usual dismissal time until the danger passed. The National Weather Service in Lake Charles reported that the public reported a possible tornado in the Church Point area of rural Acadia Parish, west of Lafayette. There were no immediate reports of injuries or major damage. Meanwhile, the sheriff's office for Calcasieu parish was asking residents to stay off the roads and said they had already deployed high water vehicles and boats to assist residents, KPLC reported. Photos on local media showed water up to the doorsteps in one subdivision of Lake Charles while vehicles sought to navigate flooded streets in another part of town. The rainy weather is expected to continue in southern Louisiana through the middle of the week. Gov. John Bel Edwards declared a state of emergency late Monday for southwest Louisiana. Western Louisiana is still recovering from back-to-back hurricanes Laura and then Delta last year. And then, in February, frigid temperatures froze pipes and led to problems getting drinking water to area residents. The National Weather Service’s Little Rock office said on their Twitter feed, that parts of central Arkansas also had seen two to more than four inches (5-10 centimeters) of rain as of Monday morning. More rainfall is expected this week, the agency said. The Associated Press
The second season in the NBA is upon us, and Yahoo Sports asked current players to explain what it's like to play in the two-month grind that is basketball's postseason.
For seniors like John Blizard, who has diabetes and mobility issues, an elevator is a must-have to access his apartment in a multi-storey building in Trail, B.C. Unfortunately, the elevator in his building has been down since February. To make things worse, maintenance has been delayed due to COVID-19. Blizard remembers the horror he experienced when taking the elevator from his second-floor suite to the basement parking lot in the three-storey Waneta Manor at 3525 Laburnum Drive. "When I got back in the elevator and pressed two, it went right down to the basement and opened the doors, and that was the end of it," he told Sarah Penton, the host of CBC's Radio West. "I sat there for about 15 minutes until the building manager and a bunch of other people that were ready to go up [came], and then they all had to help me up the stairs," he continued. The problem isn't an isolated one; elevator outages and delayed maintenance have been reported in other apartment buildings across the country during the pandemic. Blizard says tenants have recently been notified by Gateway Property Management that the elevator will be fixed in July. He says he used to go out to swim in a pool three days a week, but now he's had to cut back because it takes a lot of his energy to walk up the stairs. "I have two flights of stairs to go. Takes me half an hour to get up and 10 minutes to get down to my basement, to my car," he said. "It's much harder going up for me, for my knees and my back." Blizard says life has been even more miserable for tenants on wheelchairs. "They're sort of locked in their apartments," he said. Waneta Manor tenant John Blizard says he has reduced the number of trips he makes outside since the elevator outage began.(Submitted by John Blizard) The property management company's spokesperson, Jennifer Laidlaw, says she's sorry for the elevator maintenance delay caused by the pandemic. She says the company replaced the on-site caretaker last month, hoping to improve communication with tenants. "We understand this is not a great situation for the residents to live in the building," Laidlaw said to CBC's Christine Coulter. "We are stepping up our communication and making sure that any updates — even if it's a small update — is something that can help residents understand where we're at in the timeline [of elevator maintenance]." Meanwhile, Blizard stays hopeful. "I just hope and pray that that elevator gets working again," he said.
TOKYO (AP) — Asian shares rose Tuesday, partly on bargain-hunting from the recent global market falls amid continuing pessimism about the conronavirus pandemic. Japan's benchmark Nikkei 225 surged 2.1% in morning trading to 28,412.06. South Korea's Kospi gained 1.1% to 3,169.67. Australia's S&P/ASX 200 added 0.8% to 7,078.40. Hong Kong's Hang Seng jumped 1.3% to 28,551.53, while the Shanghai Composite inched up nearly 0.1% to 3,519.58. Regional markets shrugged off the latest gross domestic product data out of Japan, showing the world's third largest economy contracted at an annualized rate of 5.1% in January-March, its worst pace since World War II. Analysts had expected the GDP results and don't see the situation improving soon. Yeap Jung Rong, market strategist at IG in Singapore, said Asian markets were seeking “to rebound from weakness over concerns on virus resurgences.” Although Asia has fared better in curbing infections and COVID-19 related deaths, compared to the U.S. and parts of Europe, worries have been growing about recent surges in coronavirus cases. U.S. stocks slipped on Monday, tacking more losses onto last week’s stumble, as worries about inflation continue to dog Wall Street. The S&P 500 dipped 10.56, or 0.3%, to 4,163.29, with tech stocks and other former market darlings once again taking the brunt of the losses. The benchmark index is coming off a 1.4% weekly drop from its record high, which would have been even worse if not for a late rebound. The Dow Jones Industrial Average fell 54.34, or 0.2%, to 34,327.79, while the Nasdaq composite lost 50.93, or 0.4%, to 13,379.05. Most stocks in the S&P 500 fell, but pockets of strength helped limit the damage. Energy stocks jumped as the price of crude oil rose, while producers of metals and other raw materials also climbed. The Russell 2000 index of smaller stocks inched up 2.49, or 0.1%, to 2,227.12. They’re the latest back-and-forth eddies for a market swept up in worries about whether rising inflation will prove to be temporary or will last, as well as enthusiasm about a recovering economy. Prices are rising for everything from auto insurance to restaurant meals as the economy leaps out of last year's pandemic-induced coma. If inflation sticks around, the fear is that the Federal Reserve will have to dial back the extensive support it’s providing to markets. That includes record-low interest rates and the monthly purchase of $120 billion in bonds meant to goose the job market and economy. Higher interest rates drag on most of the stock market, but they hit particularly hard on stocks seen as the most expensive and those bid up for profits expected far in the future. That has put extra pressure on tech stocks and companies promising the allure of big growth, which have been leading the market for years. Apple, Microsoft and Tesla were three of the heaviest weights on the S&P 500 Monday, falling between 0.9% and 2.2%. In recent weeks, blowout profit reports from tech titans and much of the rest of corporate America have helped validate the huge run stocks have been on for more than a year. The economy continues to strengthen as COVID-19 vaccinations roll out, and the S&P 500 roared to an 11.3% gain in the first four months of the year. That’s a bigger gain than the market has had in half of the last 20 full years. “History says whenever we’ve had such a strong start to the year we tend to take a break and digest some of those gains,” said Sam Stovall, chief investment strategist at CFRA. “In many ways this is fairly natural.” For all the worries about inflation, many professional investors are echoing the Federal Reserve in saying that they expect rising prices to remain only “transitory.” Many analysts along Wall Street also expect the strong profit growth for companies to continue through the year as the economy and job market improve. That should help to support stock prices, though it may not give a big further boost after shares surged last year when profits cratered. In energy trading, benchmark U.S. crude added 21 cents to $66.48 a barrel. Brent crude, the international standard, rose 25 cents to $69.71 a barrel. In currency trading, the U.S. dollar edged down to 109.15 Japanese yen from 109.27 yen. The euro cost $1.2166, up from $1.2150. ___ AP Business Writers Damian J. Troise and Stan Choe contributed. Yuri Kageyama, The Associated Press
Oregon Bancorp, Inc. (OTCBB: ORBN), parent company of Willamette Valley Bank, announced today that it was again named to the American Banker magazine’s Top 200 Publicly Traded Community Banks and Thrifts based on a three-year average return on equity as of December 31, 2020 (Source: Capital Performance Group). This is the third consecutive year that Oregon Bancorp, Inc. was ranked #1 in the list of top 200 banks.