Duke Energy seeks to merge Carolina utilities, projecting more than $1B in customer savings

Duke Energy seeks to merge Carolina utilities, projecting more than $1B in customer savings

CHARLOTTE, N.C. (AP) — Duke Energy Corp. says its move to combine electric utility subsidiaries in North and South Carolina into one entity could save customers more than $1 billion over a decade.

The Charlotte-based utility said it formally asked federal and state regulators on Thursday for permission to join together Duke Energy Carolinas and Duke Energy Progress, which have several million customers. The savings would come in part from streamlining operations and spreading out infrastructure expenses.

The two entities have operated separately since the 2012 merger of Duke Energy and Raleigh-based Progress Energy. Duke Energy, which likens the request to moving two company divisions into one, said in a news release that it wants the change to be effective Jan. 1, 2027.

The two entities combined own 34,600 megawatts of energy capacity, producing electricity for 4.7 million residential, commercial and industrial customers in service areas covering 52,000 square miles (134,680 square kilometers). Duke Energy is the dominant electric utility in North Carolina.

Under the current setup, Duke Energy must maintain four different retail-rate structures — two for each subsidiary in each state — and produce four annual filings for state regulators who approve rates — creating confusion for the public. If the combination is approved, the company said, rates would blend gradually between the sets of customers.

The company says a combination means fewer resources would be needed to meet electric demands compared to if the two entities remained separate. They could run fewer energy production units, using less fuel and spending less on maintenance, the release said. The two entities already work together on managing electricity demand and other efficiencies.

“Combining our two utilities reduces customer costs, simplifies operations, supports economic growth and promotes regulatory efficiencies, all of which will create value for customers in both states,” said Kodwo Ghartey-Tagoe, executive vice president and CEO at Duke Energy Carolinas. “There will be no immediate changes to retail customer rates or services.”

Duke Energy, one of the nation’s largest electric holding companies, said it projects retail customer savings from the combination to reach more than $1 billion through 2038. That’s after any expenses, with additional savings expected after that.

Duke Energy Carolinas’ coverage area spans much of central and western North and South Carolina, including Charlotte and Durham in North Carolina, and Greenville and Spartanburg in South Carolina.

Duke Energy Progress generally covers eastern and central North and South Carolina — including Raleigh, Fayetteville and Wilmington in North Carolina and Florence and Sumter in South Carolina. But its coverage area also includes Asheville, North Carolina, in the west.

The combination needs approval from North Carolina Utilities Commission, the Public Service Commission of South Carolina and the Federal Energy Regulatory Commission. They would all continue to regulate the combined utility.

Win VIP Passes to the Sold-Out Jessie Murph Concert!

Win VIP Passes to the Sold-Out Jessie Murph Concert!

Only The New Pulse FM has sold out tickets to Jessie Murph’s Worldwide Hysteria Tour at Red Hat Ampitheater on Thursday, September 4th. Everyone who wins tickets will also get into the Jessie Murph VIP Radio Experience with early venue access, Q&A, acoustic performance and a group photo! Win just after 7 a.m. and 3 p.m.

Fluffy French Toast

Fluffy French Toast

This recipe is a sweet breakfast treat that you can dress up however you like. It’s the perfect way to start your day!

Ingredients

  • 8 slices of bread
  • 4 eggs
  • 2/3 cup milk
  • 1 tsp. vanilla extract
  • 1 tsp. cinnamon
  • 1 tbsp. butter
  • toppings: maple syrup, powdered sugar and fruit of your choice

Instructions

1. Prep egg mixture
In a bowl, whisk together eggs, milk, vanilla extract and cinnamon.

2. Soak the bread
Submerge each slice of bread in the egg mixture on both sides.

3. Toast the bread
Heat a skillet to medium heat and add a bit of butter. Toast the soaked bread on both sides until golden brown.

4. Toppings time
Top the french toast with butter, maple syrup, fruit and any other toppings of your choice.

5. Serve it hot
Serve right away and enjoy this delicious breakfast treat!

Bondi names DEA head as DC’s ’emergency police commissioner,’ but capital leaders push back

Bondi names DEA head as DC’s ’emergency police commissioner,’ but capital leaders push back

By ASHRAF KHALIL and ALANNA DURKIN RICHER Associated Press

WASHINGTON (AP) — The Trump administration, stepping up its crackdown on policing in the nation’s capital, on Thursday named the head of the Drug Enforcement Administration to be Washington’s “emergency police commissioner” with all the powers of the police chief — a significant move that increases national control over the city as part of the federal government’s law-enforcement takeover.

Attorney General Pam Bondi said in a directive issued Thursday evening that DEA boss Terry Cole will assume “powers and duties vested in the District of Columbia Chief of Police.” The Metropolitan Police Department “must receive approval from Commissioner Cole” before issuing any orders, Bondi said. It was not immediately clear where the move left Pamela Smith, the city’s current police chief, who works for the mayor.

D.C. Attorney General Brian Schwalb responded late Thursday that Bondi’s directive was “unlawful,” arguing that it could not be followed by the city’s police force. “Therefore, members of MPD must continue to follow your orders and not the orders of any official not appointed by the Mayor,” Schwalb wrote in a memo to Smith, setting up a potential legal clash between the heavily Democratic district and the Republican administration.

Washington Mayor Muriel Bowser wrote on social media that “there is no statute that conveys the District’s personnel authority to a federal official.”

Bondi’s directive came hours after Smith directed MPD officers to share information with immigration agencies regarding people not in custody — such as someone involved in a traffic stop or checkpoint. The Justice Department said Bondi disagreed with the police chief’s directive because it allowed for continued enforcement of “sanctuary policies.”

Bondi said she was rescinding that order as well as other MPD policies limiting inquires into immigration status and preventing arrests based solely on federal immigration warrants. All new directives must now receive approval from Cole, the attorney general said.

Another expansion of federal authority

The police takeover is the latest move by President Donald Trump to test the limits of his legal authorities to carry out his agenda, relying on obscure statutes and a supposed state of emergency to bolster his tough-on-crime message and his plans to speed up the mass deportation of people in the U.S. illegally.

It also marks one of the most sweeping assertions of federal authority over a local government in modern times. While Washington has grappled with spikes in violence and visible homelessness, the city’s homicide rate ranks below those of several other major U.S. cities and the capital is not in the throes of the public safety collapse the administration has portrayed.

The late-night announcement came after an eventful day in the ongoing federal operation. Smith’s earlier directive effectively brought together Trump’s moves on city law enforcement and his nationwide efforts to curb immigration, and Trump had praised it in the hours before Bondi’s announcement.

“That’s a very positive thing, I have heard that just happened,” Trump said of Smith’s order. “That’s a great step. That’s a great step if they’re doing that.”

A population already tense from days of ramp-up began seeing more significant shows of force across the city Thursday. National Guard troops watched over some of the world’s most renowned landmarks and Humvees took position in front of the busy main train station. Volunteers helped homeless people leave long-standing encampments — to where, exactly, was often unclear.

Department of Homeland Security police stood outside Nationals Park during a game Thursday between the Washington Nationals and the Philadelphia Phillies. DEA agents patrolled The Wharf, a popular nightlife area, while Secret Service officers were seen in the Foggy Bottom neighborhood.

Bowser, walking a tightrope between the Republican White House and the constituency of her largely Democratic city, was out of town Thursday for a family commitment in Martha’s Vineyard but would be back Friday, her office said.

A boost in police activity, federal and otherwise

For an already wary Washington, Thursday marked a notable — and highly visible — uptick in presence from the previous two days. The visibility of federal forces around the city, including in many high-traffic areas, was striking to residents going about their lives. Trump has the power to take over federal law enforcement for 30 days before his actions must be reviewed by Congress, though he has said he’ll re-evaluate as that deadline approaches.

The response before Thursday had been gradual and, by all appearances, low key. But on Wednesday night, officers set up a checkpoint in one of D.C.’s popular nightlife areas, drawing protests. The White House said 45 arrests were made Wednesday night, with 29 people arrested for living in the country illegally; other arrests included for distribution or possession of drugs, carrying a concealed weapon and assaulting a federal officer.

Troops were stationed outside the Union Station transportation hub as the 800 Guard members who have been activated by Trump start in on missions that include monument security, community safety patrols and beautification efforts, the Pentagon said.

“They will remain until law and order has been restored in the District as determined by the president, standing as the gatekeepers of our great nation’s capital,” Pentagon press secretary Kingsley Wilson said. “The National Guard is uniquely qualified for this mission as a community-based force with strong local ties and disciplined training.”

Wilson said the troops won’t be armed and declined to give more details on what the safety patrols or beautification efforts would entail or how many Guard members have already been sent out on the streets.

National Guard Major Micah Maxwell said troops will assist law enforcement in a variety of roles, including traffic control posts and crowd control. The Guard members have been trained in de-escalation tactics and crowd control equipment, Maxwell said.

The White House said Thursday that Guard members aren’t making arrests but are “protecting federal assets, providing a safe environment for law enforcement officers to make arrests, and deterring violent crime with a visible law enforcement presence.”

Although the current deployment is taking place under unprecedented circumstances, National Guard troops are a semi-regular presence in D.C., typically being used during mass public events like the annual July 4 celebration. They have regularly been used in the past for crowd control in and around Metro stations.

Trump on Thursday denied that the federal law enforcement officials he sent into Washington’s streets to fight crime have been diverted from priority assignments like counterterrorism. Asked if he was concerned about that, Trump said he’s using a “very small force” of soldiers and that city police are now allowed to do their job properly amidst his security lockdown.

For homeless residents, an uncertain time is at hand

Meanwhile, about a dozen homeless residents in Washington packed up their belongings with help from volunteers from charitable groups and staffers from some city agencies. Items largely were not forcibly thrown out by law enforcement, but a garbage truck idled nearby.

Several protesters held signs close by, some critical of the Trump administration. Once the residents had left, a construction vehicle from a city agency cleared through the remains of the tents.

The departures were voluntary, but they came in response to a clear threat from the Trump administration. Advocates expect law enforcement officers to fan out across D.C. in the coming days to forcibly take down any remaining homeless encampments. In Washington Circle, which still contains a few tents, city workers put up signs announcing “general cleanup of this public space” starting at 10 a.m. Monday.

___

Associated Press journalists Jacquelyn Martin, Mike Pesoli, Darlene Superville and David Klepper contributed to this report.

Bondi names DEA head as DC’s ’emergency police commissioner,’ but capital leaders push back

Bondi names DEA head as DC’s ’emergency police commissioner,’ but capital leaders push back

By ASHRAF KHALIL and ALANNA DURKIN RICHER Associated Press

WASHINGTON (AP) — The Trump administration, stepping up its crackdown on policing in the nation’s capital, on Thursday named the head of the Drug Enforcement Administration to be Washington’s “emergency police commissioner” with all the powers of the police chief — a significant move that increases national control over the city as part of the federal government’s law-enforcement takeover.

Attorney General Pam Bondi said in a directive issued Thursday evening that DEA boss Terry Cole will assume “powers and duties vested in the District of Columbia Chief of Police.” The Metropolitan Police Department “must receive approval from Commissioner Cole” before issuing any orders, Bondi said. It was not immediately clear where the move left Pamela Smith, the city’s current police chief, who works for the mayor.

D.C. Attorney General Brian Schwalb responded late Thursday that Bondi’s directive was “unlawful,” arguing that it could not be followed by the city’s police force. “Therefore, members of MPD must continue to follow your orders and not the orders of any official not appointed by the Mayor,” Schwalb wrote in a memo to Smith, setting up a potential legal clash between the heavily Democratic district and the Republican administration.

Washington Mayor Muriel Bowser wrote on social media that “there is no statute that conveys the District’s personnel authority to a federal official.”

Bondi’s directive came hours after Smith directed MPD officers to share information with immigration agencies regarding people not in custody — such as someone involved in a traffic stop or checkpoint. The Justice Department said Bondi disagreed with the police chief’s directive because it allowed for continued enforcement of “sanctuary policies.”

Bondi said she was rescinding that order as well as other MPD policies limiting inquires into immigration status and preventing arrests based solely on federal immigration warrants. All new directives must now receive approval from Cole, the attorney general said.

Another expansion of federal authority

The police takeover is the latest move by President Donald Trump to test the limits of his legal authorities to carry out his agenda, relying on obscure statutes and a supposed state of emergency to bolster his tough-on-crime message and his plans to speed up the mass deportation of people in the U.S. illegally.

It also marks one of the most sweeping assertions of federal authority over a local government in modern times. While Washington has grappled with spikes in violence and visible homelessness, the city’s homicide rate ranks below those of several other major U.S. cities and the capital is not in the throes of the public safety collapse the administration has portrayed.

The late-night announcement came after an eventful day in the ongoing federal operation. Smith’s earlier directive effectively brought together Trump’s moves on city law enforcement and his nationwide efforts to curb immigration, and Trump had praised it in the hours before Bondi’s announcement.

“That’s a very positive thing, I have heard that just happened,” Trump said of Smith’s order. “That’s a great step. That’s a great step if they’re doing that.”

A population already tense from days of ramp-up began seeing more significant shows of force across the city Thursday. National Guard troops watched over some of the world’s most renowned landmarks and Humvees took position in front of the busy main train station. Volunteers helped homeless people leave long-standing encampments — to where, exactly, was often unclear.

Department of Homeland Security police stood outside Nationals Park during a game Thursday between the Washington Nationals and the Philadelphia Phillies. DEA agents patrolled The Wharf, a popular nightlife area, while Secret Service officers were seen in the Foggy Bottom neighborhood.

Bowser, walking a tightrope between the Republican White House and the constituency of her largely Democratic city, was out of town Thursday for a family commitment in Martha’s Vineyard but would be back Friday, her office said.

A boost in police activity, federal and otherwise

For an already wary Washington, Thursday marked a notable — and highly visible — uptick in presence from the previous two days. The visibility of federal forces around the city, including in many high-traffic areas, was striking to residents going about their lives. Trump has the power to take over federal law enforcement for 30 days before his actions must be reviewed by Congress, though he has said he’ll re-evaluate as that deadline approaches.

The response before Thursday had been gradual and, by all appearances, low key. But on Wednesday night, officers set up a checkpoint in one of D.C.’s popular nightlife areas, drawing protests. The White House said 45 arrests were made Wednesday night, with 29 people arrested for living in the country illegally; other arrests included for distribution or possession of drugs, carrying a concealed weapon and assaulting a federal officer.

Troops were stationed outside the Union Station transportation hub as the 800 Guard members who have been activated by Trump start in on missions that include monument security, community safety patrols and beautification efforts, the Pentagon said.

“They will remain until law and order has been restored in the District as determined by the president, standing as the gatekeepers of our great nation’s capital,” Pentagon press secretary Kingsley Wilson said. “The National Guard is uniquely qualified for this mission as a community-based force with strong local ties and disciplined training.”

Wilson said the troops won’t be armed and declined to give more details on what the safety patrols or beautification efforts would entail or how many Guard members have already been sent out on the streets.

National Guard Major Micah Maxwell said troops will assist law enforcement in a variety of roles, including traffic control posts and crowd control. The Guard members have been trained in de-escalation tactics and crowd control equipment, Maxwell said.

The White House said Thursday that Guard members aren’t making arrests but are “protecting federal assets, providing a safe environment for law enforcement officers to make arrests, and deterring violent crime with a visible law enforcement presence.”

Although the current deployment is taking place under unprecedented circumstances, National Guard troops are a semi-regular presence in D.C., typically being used during mass public events like the annual July 4 celebration. They have regularly been used in the past for crowd control in and around Metro stations.

Trump on Thursday denied that the federal law enforcement officials he sent into Washington’s streets to fight crime have been diverted from priority assignments like counterterrorism. Asked if he was concerned about that, Trump said he’s using a “very small force” of soldiers and that city police are now allowed to do their job properly amidst his security lockdown.

For homeless residents, an uncertain time is at hand

Meanwhile, about a dozen homeless residents in Washington packed up their belongings with help from volunteers from charitable groups and staffers from some city agencies. Items largely were not forcibly thrown out by law enforcement, but a garbage truck idled nearby.

Several protesters held signs close by, some critical of the Trump administration. Once the residents had left, a construction vehicle from a city agency cleared through the remains of the tents.

The departures were voluntary, but they came in response to a clear threat from the Trump administration. Advocates expect law enforcement officers to fan out across D.C. in the coming days to forcibly take down any remaining homeless encampments. In Washington Circle, which still contains a few tents, city workers put up signs announcing “general cleanup of this public space” starting at 10 a.m. Monday.

___

Associated Press journalists Jacquelyn Martin, Mike Pesoli, Darlene Superville and David Klepper contributed to this report.

Bryce Young and C.J. Stroud reunite at joint practice, reflect on NFL journeys

Bryce Young and C.J. Stroud reunite at joint practice, reflect on NFL journeys

By KRISTIE RIEKEN AP Sports Writer

HOUSTON (AP) — Bryce Young and C.J. Stroud will be forever linked after the quarterbacks were taken first and second, respectively, in the 2023 NFL draft.

But long before they became NFL stars, the two California natives became friends when they competed in both football and basketball in middle school.

On Thursday, the two reunited when Stroud’s Houston Texans hosted Young’s Carolina Panthers for a joint practice ahead of Saturday’s preseason game.

The quarterbacks were all business during drills, with both players making some nice throws during the two-hour workout. Afterward, they took some time to catch up and chat.

“To see where he’s at right now, I’m super proud of him. It means a lot,” Young said. “I’m always rooting for him. That’s my guy. When practice is going, I’m rooting for our defense. I’m hoping we make every play. That’s all that matters. But before and after I try not to take it for granted, us being able to live our dreams and be here. It’s special.”

Stroud said the two never specifically talked about their NFL dreams together as children but said competing against Young at such a young age made him a better player.

“When we focus on like the NFL or the NBA, it’s hard to do because (at that age) there’s so many people trying for that,” Stroud said. “But like me and him, I feel like our process was just getting better, getting better, getting better, getting better. So, I think that was our mindset and it’s cool to be in these moments.”

The Panthers were criticized in 2023 for selecting Young, who struggled as a rookie as the team went 2-15. Meanwhile, Stroud led Houston to the postseason after a three-year absence and was named AP Offensive Rookie of the Year.

Neither player likes talking about the what-ifs when it comes to that draft, and Young insisted Thursday that he’s happy with how things turned out.

“I’m exactly where I’m supposed to be,” he said. “I’m sure C.J. would say the same thing. God doesn’t make mistakes. Everything happens for a reason. So, I’m super grateful to be a Panther.”

As their NFL careers have blossomed, Stroud and Young have remained close. Young was asked to describe the best thing about Stroud as a friend.

“I’ve seen him have ups and downs,” Young said. “I’ve seen him have so much success at this level (and) throughout all that he’s been the exact same person … and I know a lot of people on this team and everyone tells me how great of a leader he is, how much he means for this team, offense, the entire team, entire unit, the person he is. So, I think just his ability to be that same person, regardless of what his circumstances are is one of the things that I admire most.”

Stroud also praised Young’s consistency as a friend and lauded him for the improvement he showed last season.

“He’s a heck of a player, one of the best players I’ve ever seen in my life,” Stroud said. “And I just think he needs some help around him too. But I’m just really proud of that guy, just the same way he said about me, for every up and down, every valley and peak he’s stayed the same guy, stayed loyal and stayed a friend and brother, so very appreciative.”

While Stroud has had much more success so far after taking Houston to the playoffs in each of his two seasons, he remains irked that one of Carolina’s two wins in 2023 came against the Texans and hopes to have a rematch with Young one day.

“He beat me my rookie year, still don’t like that,” Stroud said. “When we cross those lines, we’re competitive, we want to do well and see our teams win. So hopefully we get to match up next year or maybe in the Super Bowl or something. I don’t know. But don’t put that on ESPN, I know how y’all do.”

Androids dance, rock, shimmy and sway at opening of World Humanoid Robot Games

Androids dance, rock, shimmy and sway at opening of World Humanoid Robot Games

By FU TING Associated Press

Humanoid robots danced hip-hop, performed martial arts and played keyboard, guitar and drums at the opening ceremony of the first World Humanoid Robot Games in Beijing on Thursday evening.

The competition begins Friday with more than 500 humanoid robots in 280 teams from 16 countries, including the U.S., Germany and Japan, competing in sports including soccer, running and boxing. The event comes as China has stepped up efforts to develop humanoid robots powered by artificial intelligence.

The World Humanoid Robot Games have opened on Beijing. The event sees machines compete in sports such as soccer and boxing. (AP Video)

During the opening ceremony, the robots demonstrated soccer and boxing among other sports, with some cheering and backflipping as if at a real sports event.

One robot soccer player scored a goal after a few tries, causing the robot goalkeeper to fall to the ground. Another player fell but stood up unassisted.

The robots also modeled fashionable hats and clothes alongside human models. In one mishap, a robot model fell and had to be carried off the stage by two human beings.

Teams from robot companies and Chinese universities including Tsinghua University and Peking University are competing in the games. Three middle schools are also participating.

China’s official newspaper People’s Daily quoted a government officer in Beijing as saying that every robot that participates “is creating history.”

The event will last three days, concluding on Sunday. Tickets sold to the public range from 180 yuan ($25) to 580 ($80).

___

Olivia Zhang contributed to this report from Beijing.

Furry Friday: Meet Cooper!

Furry Friday: Meet Cooper!

Copper is a 1-year-old male with a sweet, gentle spirit. At the shelter, he can be a little shy in his kennel at first, so he just needs a bit of time to relax and feel safe – but once he does, he’s easy to collar and walks calmly past the barking dogs without a fuss.

Copper settles quickly once outside and is still so young, with plenty of time to build confidence and blossom into the happy dog he’s meant to be. He’s already been to playgroups with other dogs, which helps him open up and learn how fun friends can be! From the moment he trotted into doggie playgroup, Copper had everyone smitten. With the cutest playbows you’ve ever seen and a sweet, go-with-the-flow vibe, this handsome boy is the whole pup package: medium energy, maximum charm.

In foster care, we have learned that, true to his breed, he has a keen interest in all things and if he sees movement during walk, he wants to pull you to it to investigate – may be an indication of a high prey drive. He is looking for a person to help him work on his leash manners and to help him focus on the leash holder more. With his energy levels, he may be a good running buddy. In the house, he is calm and attending – keeping an eye on his humans.

He is also crate trained and sleeps in the crate without a peep. When potty training in a new home, his crate training comes in handy as well as his agreeability to wear a male wrap to help avoid any accidents. With feeding/watering on a routine as well as routine potty times, he quickly picks up when and where is appropriate to potty. With his young spirit, he loves toys and is quick to defluff any stuffy toy. We recommend supervision with toys that cannot hold up to his chewing passions.

So if you’re ready for a loyal companion who plays nice, cuddles hard, and melts hearts like… well, a penny in the sun, pick up Copper – because this boy is pure gold.

If you’re interested in learning more about him, please reach out to our volunteer matchmakers at [email protected] with the subject line “Copper 261426”.

He is up to date on vaccinations, flea/tick, and heartworm prevention, is microchipped, and will be neutered prior to going home. If you have dogs or cats, we recommend slow introductions over time. If you have children in your home, we recommend supervision between animals and children at all times

*Also we are in the middle of our Clear the Shelter campaign. All adoption fees are waived until Aug 31.

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Your number one choice for windows, doors, gutters, and exterior home remodeling. Visit them at aluminumcompany.com for a free estimate.

August 15th 2025

August 15th 2025

Thought of the Day

August 15th 2024
Photo by Getty Images

Why not go out on the limb… that’s where the fruit is.

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

By STAN CHOE AP Business Writer

NEW YORK (AP) — Most stocks fell on Wall Street Thursday after a disappointing report said inflation was worse last month at the U.S. wholesale level than economists expected. But gains for Amazon and some other influential Big Tech companies helped mask the losses.

Seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high. The Dow Jones Industrial Average dipped 11 points, or less than 0.1%, and the Nasdaq composite dipped by less than 0.1% from its record set the day before.

The inflation report said that prices jumped 3.3% last month at the U.S. wholesale level from a year earlier. That was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead for U.S. shoppers as it makes its way through the system.

The data forced traders to second guess their widespread consensus that the Federal Reserve will cut interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

“This doesn’t slam the door on a September rate cut,” but it may raise some doubt, according to Chris Larkin, managing director, trading and investing, at E-Trade from Morgan Stanley.

Traders now see a 7.4% chance that the Fed may hold rates steady in September, according to data from CME Group. A day earlier, they were betting on a 100% certainty that the Fed would cut its main rate for the first time this year.

Higher interest rates drag on all kinds of companies by keeping the cost to borrow high. They can hurt smaller companies in particular because they often need to borrow to grow. The Russell 2000 index of smaller U.S. stocks tumbled a market-leading 1.2%.

Thursday’s disappointing data followed an encouraging update earlier in the week on prices at the consumer level. A separate report on Thursday, meanwhile, said fewer U.S. workers applied for unemployment benefits last week. That’s a good sign for workers, indicating that layoffs remain relatively low at a time when job openings have become more difficult to find.

But a solid job market could also give the Fed less reason to cut interest rates in the short term.

The data helped send Treasury yields higher in the bond market. The yield on the 10-year Treasury climbed to 4.28% from 4.20% just before the data reports’ release and from 4.24% late Wednesday.

On Wall Street, Tapestry tumbled after the company behind the Coach and Kate Spade New York brands showed it’s feeling the pressure of tariffs.

It detailed how much profit it could lose in its upcoming fiscal year because of tariffs and duties, and its forecast for profit fell short of analysts’ expectations even though its forecast for revenue came in above. Its stock fell 15.7%, despite it also reporting a stronger profit for the latest quarter than analysts expected.

Deere fell 6.8% even though the machinery maker likewise delivered a better profit than expected. There, too, the focus was on where profits are heading. It cut the top end of its forecasted range for profit this fiscal year and said its customers “remain cautious amid ongoing uncertainty.”

On the winning side of Wall Street was Fossil Group, which jumped 29.8% after the seller of watches and other accessories reported better profit than expected. It also announced a plan to strengthen its finances, while trimming its forecast for how much it expects worldwide net sales to fall this year.

Big Tech stocks also helped mask Wall Street’s losses. Amazon rose 2.9% to add to its gains from the prior day when it announced same-day delivery of fresh groceries in more than 1,000 cities and towns.

Because Amazon is so huge, with a market value of $2.45 trillion, the movements for its stock carry much more weight on the S&P 500 than the typical company’s.

All told, the S&P 500 rose 1.96 to 6,468.54 points. The Dow Jones Industrial Average edged down 11.01 to 44,911.26, and the Nasdaq composite dipped 2.47 to 21.710.67.

In stock markets abroad, indexes were mixed across Asia and Europe ahead of a key meeting between U.S. President Donald Trump and Russian President Vladimir Putin on Friday.

___

AP Writers Teresa Cerojano and Matt Ott contributed.

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