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Ticker: Oil prices jump; AI stocks drag Street lower

Oil prices got back to jumping, while sinking technology stocks dragged Wall Street lower amid uncertainty about what the Federal Reserve will do to get high inflation under control. The S&P 500 fell 1.5% Wednesday after briefly erasing all of an earlier drop of 1.2%. The Dow Jones Industrial Average tumbled 2.2%, and the Nasdaq composite sank 1.7%. The price of Brent oil leaped back above $88 per barrel to add further pressure on inflation. Minnesota prediction market ban blocked A federal judge has temporarily blocked Minnesota’s law banning prediction markets, which was set to ...

American confidence in US economy falls with Iran war

WASHINGTON — Americans’ confidence in the economy fell this month as gas prices resumed their climb after the U.S. and Iran stepped up their fighting. The Conference Board said Tuesday that its consumer confidence index fell to 90.8 in July from 92.2 in June. That’s essentially the same tepid range its been in since the beginning of the year. In late 2024 and early 2025 the readings were well above 100. Consumer attitudes had improved modestly in June as gas prices came down to around $3.70 a gallon from more than $4.50 a gallon in late April and early May. But as fighting in the ...

Johnson & Johnson proposes talc settlement

Johnson & Johnson has agreed to pay $5.5 billion to tie up remaining lawsuits that claim its talc products caused ovarian cancer. The drugmaker, which has been fighting talc-related lawsuits for more than a decade, said that the settlement is conditioned on at least 95% of remaining claimants participating. A U.S. bankruptcy court judge denied a $9 billion settlement proposed by company subsidiary Red River Talc last year that would have been one of the biggest mass tort settlements in history. Johnson & Johnson decided not to appeal that ruling and instead fight on in court. A ...

Ticker: First Commonwealth reports Q2 income

First Commonwealth Financial Corp. on Tuesday reported second-quarter net income of $44.6 million. The Indiana, Pennsylvania-based bank said it had earnings of 44 cents per share. The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share. The financial holding company posted revenue of $186.3 million in the period. Its revenue net of interest expense was $139.4 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $137.2 million. Fed Chair faces pressure ...

Briefcase: Tyrone Ford recognized by AAA

TYRONE Tyrone Ford recognized Tyrone Ford has been named by AAA as the silver winner of the Best in Auto Repair awards for 2026. These awards recognize the top AAA Service Providers and AAA Approved Auto Repair facilities across the country. A panel of AAA experts reviewed nominations for both awards. These outstanding partners have consistently achieved high member satisfaction, provided excellent service and made significant contributions to their communities. Selected from 128 nominees across the country, a total of 24 outstanding honorees were recognized for exceptional service, ...

Briefcase: Shuck Agency to join Kish

STATE COLLEGE Kish Bancorp Inc., parent company of Kish Bank, announced that the Shuck Agency will join Kish Insurance, the property and casualty insurance subsidiary of Kish Bank, effective Aug. 1. The collaboration is expected to enhance the Shuck Agency’s ability to serve its clients while strengthening Kish Insurance’s reach across the region. A phased integration approach will guide the transition to ensure a seamless experience for clients. The Shuck Agency will operate as a division of Kish Insurance and will maintain its local identity and office location, with Andy Cipar ...