Stocks gain…Food insecurity…Challenging Disney
NEW YORK (AP) – Stocks rose broadly in afternoon trading as technology stocks rallied following a weak start. The S&P 500 rose 1.3%, the Dow Jones Industrial Average rose 1.2%. The tech-heavy Nasdaq shook off an early loss and was up 1.9%. Health care giant Johnson & Johnson rose 3% after reporting better-than-expected results and raising its dividend. Energy companies fell along with prices for crude oil and natural gas.
WASHINGTON (AP) – Treasury Secretary Janet Yellen has urged world finance leaders to “get concrete” as they look for ways to combat a looming crisis over food insecurity around the global that Russia’s war in Ukraine has made worse. Yellen says the threat “touches the most vulnerable people the hardest – families that are already spending disproportionate amounts of their income on food.” Among the proposed solutions under discussion are reducing export restrictions, relieving price controls across countries and subsidizing small farmers globally.
UNDATED (AP) – A decision by a federal judge in Florida to throw out a national mask mandate in public transportation across the U.S. has created a patchwork of rules that vary by location. Passengers on a United Airlines flight from Houston to New York, for instance, could ditch masks at their departing airport and on the plane, but would have to put them back on once they get to New York. The Biden administration said Monday the rule would not be enforced while federal agencies decide how to respond.
TALLAHASSEE, Fla. (AP) – Florida Gov. Ron DeSantis is asking the Legislature to repeal a law allowing Walt Disney World to operate a private government over its properties in the state. DeSantis is an ascendant GOP governor and potential 2024 presidential candidate. He has battled with Disney over the company’s opposition to a new law barring instruction on sexual orientation and gender identity in kindergarten through third grade.
NEW YORK (AP) – Venture capitalists have poured billions into the latest pandemic delivery craze: companies that promise to get you a bottle of Tylenol, an iced coffee, hummus, a cucumber and a roll of paper towels. In 30 minutes or less – or even 15 minutes or less. Experts say they’re unprofitable. Bigger companies are muscling in. And officials in European cities and in New York, which has become the U.S. launching pad, have already started complaining about how they operate, saying it’s bad for employees and residents. Services are already shutting down, cutting workers or scaling back their fast-delivery promises.