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Ticker: Stocks slip as Wall Street under pressure

Local Business

Stocks fell on Wall Street as another round of U.S. military strikes on Iran sent oil prices higher, stoking worries about stubbornly high inflation. Bond yields moved higher, putting even more pressure on stocks. The S&P 500 fell 0.7% Tuesday. The Dow Jones Industrial Average dropped 419 points, or 0.8%. The Nasdaq composite fell 1%. Big Tech stocks like Nvidia and Amazon were the heaviest weights dragging the market lower. Brent crude rose 4.6% and U.S. oil closed above $90 for the first time in more than a month. The yield on the 10-year Treasury rose to 4.79%. Chevron expected to ...

Briefcase: ASCEND seeking students

Local Business

Students are being recruited for 1st Summit Bank’s ASCEND 250 program. Teachers at 10 participating high schools in Cambria and Somerset counties are now nominating students for the first class. Students need two teacher recommendations before they are invited to apply. ASCEND 250 is a three-year paid banking apprenticeship. Participants become full-time, salaried employees of 1st Summit Bank on their first day. They spend 18 months learning throughout the bank and another 18 months specializing in an area of interest. The first class will begin in September 2027. Program details ...

US job openings rise to 7.3M

Local Business

Employers posted slightly more job openings in July but the American labor market remained sturdy in the face of higher costs that are squeezing household budgets. U.S. job openings ticked up to 7.27 million in July from a revised 7.18 million in June, the Labor Department reported Tuesday. The department’s Job Openings and Labor Turnover Survey (JOLTS) also showed that layoffs fell. But so did the number of people quitting their jobs — a sign of confidence in their prospects. The report showed that gross hiring — before subtracting those who lost or quit their jobs — dipped to ...

G20 addresses ‘cheap exports’

Local Business

Treasury Secretary Scott Bessent said Tuesday that 19 of the members of the G20 agreed to address streams of “cheap exports” that cause global economic imbalances, but China dissented. Bessent said that getting even 19 countries to agree to take on the problem was “incredible” and ...

Marker at St. Luke’s gives nod to regional legend and lore

Local News

A Legends & Lore sign commemorating a famous abolitionist’s stay at St. Luke’s Episcopal Church was unveiled Saturday night. Local historian Jared Frederick found circumstantial evidence that abolitionist John Brown either met at the church, stayed at the church or gathered resources ...