US stocks mostly rose Friday after a report showed a healthy jobs market, and Paris rallied as President Emmanuel Macron vowed to serve out his full term and end France's political crisis. Oil fell on concerns of oversupply and Bitcoin held at a level over $100,000 after hitting records Thursday. The world's biggest economy gained 227,000 jobs in November, more than analysts expected and up from a revised 36,000 in October, said the US Department of Labor. "The US jobs market has emphatically rebounded following October's disappointing data," said Neal Keane, head of global sales trading at ADSS. October's figures had been depressed by hurricanes and workers' strikes, while November's increases may have been exaggerated by the end of a strike at Boeing in particular -- and by retail hiring ahead of the holiday season. US stocks mostly closed higher, with the broad-based S&P 500 and tech-focused Nasdaq both hitting fresh records, although the Dow retreated slightly. Investors are mostly betting that November's jobs numbers, while comforting, are probably not strong enough to deter the Federal Reserve from cutting interest rates again this month. "Investors needed a reassuring jobs report and that's exactly what they got," said eToro analyst Bret Kenwell. "The market still favors a rate cut from the Fed later this month and this report may not change that expectation." The Paris stock market closed up 1.3 percent on "hope that President Emmanuel Macron will serve out his term and that a (French) budget can be passed in the coming weeks," noted Derren Nathan, head of equity research at Hargreaves Lansdown. Macron on Friday was holding talks with French political leaders on the left and right as he seeks to quickly name a new prime minister after Michel Barnier's government was ousted in a historic no-confidence vote. Macron adopted a defiant tone in an address to the nation Thursday evening, just 24 hours after parliament voted out Barnier over his 2025 budget plan, which included unpopular austerity measures forced through without a vote using special powers. The luxury sector benefitted also from hopes of a pickup in Chinese demand. Gucci owner Kering topped the Paris CAC 40 as its shares gained more than six percent, while LVMH rose more than three percent. French video game company Ubisoft jumped 13 percent on takeover speculation. Frankfurt closed slightly higher, other continental markets were mixed, and London slid. In Asia, shares in Seoul sank more than one percent and the won weakened to about 1,420 per dollar as lawmakers prepared to hold an impeachment vote Saturday after President Yoon Suk Yeol's dramatic, short-lived imposition of martial law this week. While analysts said the economic fallout from the crisis would likely be limited, a political storm is ongoing. Hong Kong and Shanghai rallied as investors grew hopeful of fresh stimulus when top Chinese leaders including President Xi Jinping meet to discuss economic policy next week. Bitcoin hovered above $100,000 after having blasted to the historic peak of $103,800 Thursday on news that US President-elect Donald Trump had picked crypto proponent Paul Atkins to head the nation's markets regulator. New York - Dow: DOWN 0.3 percent at 44,642.52 points (close) New York - S&P 500: UP 0.3 percent at 6,090.27 (close) New York - Nasdaq Composite: UP 0.8 percent at 19,859.77 (close) Paris - CAC 40: UP 1.3 percent at 7,426.88 (close) Frankfurt - DAX: UP 0.1 percent at 20,384.61 (close) London - FTSE 100: DOWN 0.5 percent at 8,308.61 (close) Tokyo - Nikkei 225: DOWN 0.8 percent at 39,091.17 (close) Hong Kong - Hang Seng Index: UP 1.6 percent at 19,865.85 (close) Shanghai - Composite: UP 1.1 percent at 3,404.08 (close) Euro/dollar: DOWN at $1.0566 from $1.0591 on Thursday Pound/dollar: DOWN at $1.2740 from $1.2760 Dollar/yen: DOWN at 149.97 yen from 150.09 yen Euro/pound: DOWN at 82.93 from 82.97 pence West Texas Intermediate: DOWN 1.6 percent at $67.20 per barrel Brent North Sea Crude: DOWN 1.4 percent at $71.12 per barrel gv/rl/bys/ahaDiddy disputes claims in documentary about Shyne with cease-and-desist letter
BOISE, Idaho (AP) — LeJuan Watts had 20 points in Washington State's 74-69 victory against Boise State on Saturday night. Watts had 11 rebounds and six assists for the Cougars (8-2). Dane Erikstrup scored 14 points while shooting 6 for 10 (2 for 5 from 3-point range) and 0 of 3 from the free-throw line. Isaiah Watts had 12 points and shot 5 for 9, including 2 for 5 from beyond the arc. Andrew Meadow led the Broncos (6-3) in scoring, finishing with 21 points and seven rebounds. Tyson Degenhart added 18 points for Boise State. Alvaro Cardenas Torre also had 10 points, six rebounds, five assists and two steals. Isaiah Watts scored nine points in the first half for Washington State, who led 44-24 at the break. LeJuan Watts led Washington State with 12 points in the second half as their team was outscored by 15 points over the final half but hung on for the victory. ___ The Associated Press created this story using technology provided by and data from . The Associated Press
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Paris stocks rally as Macron fights on, jobs data boosts Wall StreetParis stocks rally as Macron fights on, jobs data boosts Wall Street
Altria Group ( MO 0.72% ) has emerged as a surprising stock market winner in 2024, propelled by an impressive earnings rebound. At the time of this writing, its shares had surged by 41% this year to their highest level since 2019. There's a lot for investors to like about this tobacco giant, including the stock's 7% dividend yield as a compelling income opportunity. That being said, are there enough positives in the outlook to keep the rally going? Let's discuss whether Altria stock is a buy, sell, or hold in 2025. The case to buy or hold Altria stock The tobacco industry has undergone a dramatic transformation in recent years. Even as smoking rates continue to decline worldwide, consumers are increasingly turning to smoke-free alternatives. These include electronic cigarettes and oral tobacco, seen as less-harmful replacements, which are proving to be highly popular. Altria, the leading U.S. cigarette manufacturer known for iconic brands like Marlboro and Parliament, appears to be successfully navigating these shifting market dynamics by diversifying into smoke-free products. In the company's third quarter (for the period ended Sept. 30), the story was the 7.8% year-over-year increase in adjusted earnings per share (EPS), through a better than expected top-line figure and efforts at cost controls. Altria's NJOY e-cigarette brand posted a 16% climb in shipment volume for the consumable device cartridges, which allowed the company to capture a 6.2% retail market share, up from 3.2% in the third quarter of 2023. The other standout is ON! nicotine pouches posting a 46% volume increase. On the cigarette side, Altria managed to balance lower sales volumes with higher pricing, particularly in the premium category, supporting company-wide cash flows. For the full year 2024, management is targeting adjusted EPS in a range of $5.07 to $5.15, representing growth of 2.5% to 4% from 2023. That's great news for investors when thinking about the sustainability of the $1.02 per share quarterly dividend. The company is recognized as a Dividend King, having increased its annual payout for the past 55 years, with management reaffirming a commitment to continue that streak through at least 2028. Investors who are confident in Altria's ability to remain profitable and execute a long-term strategy have a good reason to buy or hold the stock today. MO dividend yield , data by YCharts. The case to sell Altria stock It's important to examine Altria's outlook critically to understand what could go wrong with the investment idea. The main challenge the company faces likely comes down to the intensely competitive industry environment. While ON! nicotine pouches contribute to growth, they struggle to match the success of ZYN from Philip Morris International . The category market share of 19.1% for ON! fell by 3.8 percentage points from last year, in contrast to ZYN's dominant 73% market position. There's also a question surrounding Altria's NJOY brand positioning and how the category will evolve given that consumers have many alternative technologies to choose from. For instance, Philip Morris plans to launch its Iqos Iluma heat-not-burn tobacco product across the United States late next year, which could potentially erode NJOY's market share if users decide to make the switch. All of this exists against a backdrop of complex federal and state-level regulations, adding another layer of risk that could undermine Altria's growth prospects. Investors skeptical of the company's relevance over the next decade may want to consider exiting their positions or reducing exposure. The decision: I'm bullish For all the uncertainties investors need to balance, my takeaway is that Altria's business is alive and well heading into 2025. The growth from the smoke-free products portfolio provides a financial runway while opening new doors of strategic flexibility. What I like about the stock as a buy right now is its attractive valuation. Besides the high-yield dividend, shares are trading at just 11 times the consensus 2024 EPS as a forward price-to-earnings ratio ( P/E ). That is well below Philip Morris' forward P/E of 19. My interpretation is that the stock is undervalued reletive to its bigger competitor. Ultimately, Altria stock offers excellent value that can work for investors within a diversified portfolio.
Environment Secretary Steve Reed has been asked to review “incompetence” at the Met Office that led to a “clear underestimation” of the impact of Storm Bert. Labour MP for Cardiff West, Alex Barros-Curtis, said warnings should have been “amber or red”, as Mr Reed told MPs that more flooding is “likely”. Hundreds of homes were left under water, roads were turned into rivers and winds of more than 80mph were recorded across parts of the UK. More than 130 flood warnings and 160 alerts remained in place across the UK on Monday. In the Commons on Monday, Mr Barros-Curtis asked: “Can I ask that the Secretary of State speak to his Department for Science, Innovation and Technology (DSIT) colleagues to carefully look into the role of the Met Office here? “It is clear that their response was slow and that there was a clear underestimation of the impact of Storm Bert. “They put it yellow rather than amber or red. Our constituents have been let down by this incompetence before, and it cannot keep happening.” Mr Reed said: “In most parts of the countries that were affected, warnings were given with adequate time for people to prepare and I would encourage people to sign up on the Defra website, or the Environment Agency website for warnings and alerts if they live in an area that could be affected by flooding. “I’m aware of the particular concern that he mentions regarding the Met Office, and I will indeed be speaking to colleagues in DSIT as they review the circumstances of that and look at how the situation can be improved for future events of this kind.” During his update to the House, the Environment Secretary said that more flooding this week is “likely” but its impact “should be less severe” than has been seen. He said: “Around 28,000 properties are being protected by Environment Agency flood defences. “Unfortunately, an estimated 107 properties have flooded across England, principally from river and surface water flooding.” He added: “The Environment Agency and local responders have also been busy protecting properties elsewhere in England, including flooding from the River Teme in Tenbury Wells where around 40 properties have flooded. “The river has now peaked and local responders will be focusing on the lower reaches of rivers over the next few days.” He further stated: “Further flooding is sadly likely over the next few days as water levels rise in slower flowing rivers such as the Severn and the Ouse. “The Environment Agency anticipates that any impacts should be less severe than we have seen in recent days.” Mr Reed also described the flood defences they inherited from the previous government as being “in the worst condition on record following years of underinvestment”. He added: “Over 3,000 of our key flood defences are below an acceptable standard. “That is why we are investing £2.4 billion over the next two years to build and maintain flood defences.” Elsewhere in the session, Labour MP for Coventry South, Zarah Sultana, was among the MPs to call for a legal duty on fire services to respond to flooding. She said: “I want to express my solidarity and thanks to all of our emergency services, including firefighters on the front line. “Extreme weather events are on the rise and becoming ever more frequent due to climate change, highlighting the urgent need for proper funding and resources. “England is the only part of the UK without a statutory duty for flooding, leaving fire services underfunded and under-resourced to respond effectively. This must change, as the FBU (Fire Brigades Union) has long called for.” “When will the Government finally provide a statutory duty for Fire and Rescue authorities to respond to flooding incidents in England?” Mr Reed replied: “The fire and rescue authorities have the powers to intervene, but she’s quite right to point out there’s not a duty, and officials in my department, working with the Home Office, will review that to see that that remains appropriate.” Conservative MP for Mid Buckinghamshire Greg Smith said some communities in his constituency are flooding “for the first time in decades” as he accused the Government of wanting to “concrete over the countryside”. He said: “That is a result of some of the big infrastructure we are seeing being built, particularly HS2 where they will concrete over a field completely, it seems, unaware that that will have a knock-on effect to farmland next door. “So will the Secretary of State commit to working with the Transport Secretary (Louise Haigh) and I also suggest the Deputy Prime Minister (Angela Rayner) given their plans to concrete over the countryside to ensure that where construction takes place proper, and I really mean proper, flood mitigation measures are put into place.” Mr Reed replied: “This needs to operate across Government, and we will have those conversations and ensure that measures are put in place to support communities as much as is possible from the more severe weather events that we’re seeing as a result of climate change.”Ministers told ‘incompetence’ at Met Office led to underestimation of Storm Bert