Ticker: Stocks drift higher ahead of bombing deadline
The day’s business news at a glance
The U.S. stock market drifted higher in tentative trading ahead of a deadline President Donald Trump has set to bomb Iranian power plants.
The S&P 500 rose 0.4% Monday. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite climbed 0.5%. Like stock indexes, oil prices seesawed through the day amid continued uncertainty about what will happen in the war with Iran and how long it will slow the global flow of crude oil.
China’s mining workers face changing industry
As China runs away from the rest of the world in developing renewable energy, its coal mining industry is facing the prospect of major change. That includes the northern province of Shanxi, which turns out nearly one-third of China’s coal and would be the world’s largest producer if it was its own country.
Officials in Shanxi and the city of Datong don’t want miners to be left behind. They’re pinning some of their hopes for new jobs on growing tourism to sites like the Yungang Grottoes, an ancient and significant area of caves and Buddhist carvings. Some miners are making the transition while others are fearful of leaving good jobs. And few think that Shanxi will leave coal behind entirely.
Tailors age out of work as demand increases
The ranks of tailors, dressmakers and custom sewers are shrinking in the U.S. even as their skills and services are finding fresh demand. Fashion industry experts say younger shoppers are enlisting tailors and seamstresses to give off-the-rack purchases a custom fit, to revive secondhand finds or to extend the lives of their wardrobes.
A veteran tailor in New York says weight-loss drugs like Zepbound and Wegovy have more Americans wanting their clothes resized. But there are fewer professionals doing alternations as skilled sewers age out of the workforce. The Fashion Institute of Technology in New York has teamed with Nordstrom to launch a training program to help address the shortage.
Key Fed official sees possible rate hike
A top Federal Reserve official said Monday that an interest rate hike could be appropriate if inflation remains persistently above the central bank’s 2% target, the latest sign that some policymakers are moving away from a bias toward reducing borrowing costs.
The comments by Beth Hammack, president of the Federal Reserve Bank of Cleveland, suggest a growing concern among at least some policymakers that inflation, which was elevated before the Iran war, may require rate hikes to tame further.
Caution urged with viral menopause products
Women suffering through the hot flashes, night sweats, mood changes and sleep problems that can come with menopause are being bombarded with products.
More open conversations about menopause and the period leading up to it — called perimenopause — are happening just as marketing has been supercharged by social media. Doctors say that before spending money on products that make big promises, it’s important for women to talk to their doctors about what has actually been proven to help — and what could be harmful.
JPMorgan CEO: Iran war could reignite inflation
JPMorgan Chase CEO Jamie Dimon warns that a resilient U.S. economy could face renewed inflation pressures if the war in Iran disrupts global energy markets.
In his annual shareholder letter, Dimon describes inflation as the potential “skunk at the party” this year. He cautions that turmoil in oil and commodity markets could affect everything from gasoline to manufacturing prices.



