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Stock market today: Wall Street rises at the start of a holiday-shortened week

Mick Wallace finds his old Wexford vote has collapsed on his return to Irish politicsSpending not in the cards as credit purchases plummet after martial law declaration Published: 24 Dec. 2024, 06:00 CHO YONG-JUN [email protected] Myeong-dong in Jung District, central Seoul on Dec. 23 [NEWS1] All Korean cities and provinces posted a double-digit drop in credit card spending on Dec. 6 — three days after the Dec. 3 martial law declaration — showing signs of further contraction in domestic demand after already deteriorating over the recent months. On average, credit card spending plummeted by 26.3 percent nationwide on Dec. 6 compared to the previous week, according to Statistics Korea on Sunday, compiled through Shinhan Card’s data. Credit card spending in Seoul was also heavily affected, dropping 29.3 percent compared to the previous week. Gwangju, North Jeolla and South Jeolla were the three regions that had the most dramatic decrease in credit card spending at over 30 percent, with Gwangju suffering a 35.9 percent drop. Even Daegu — where the smallest drop occurred — saw its spending decrease by 19.6 percent. While average spending fluctuates weekly and monthly due to many factors including individual spending patterns, payday, holidays, discount promotions, payment due dates and even weather, such a drastic decrease across all 19 regions and cities in December — when festive end-of-year spending is very much expected — marked a first since Statistics Korea began publishing credit card transaction data in 2020. By category, spending in the entertainment, sport and culture sectors fell by 6.7 percent compared to the previous week, while the food and beverage category dropped by 6.5 percent. Credit card transactions in stores nationwide, too, experienced a 27.4 percent tumble during the same period — proof that small businesses were hit hard by the chaos started by the emergency martial law declaration. The tourism industry will likely take a hit from the political instability caused by President Yoon Suk Yeol: The United States, Britain and Canada issued travel advisories and urged caution for travelers and residents in Korea following the martial law declaration. While the advisories, along with the short-lived martial law, were soon lifted, the tourist sentiment may take longer to recover. The government said it plans to light up the economy next year by allocating three-quarters of the yearly budget for the first half of 2025; it will also encourage end-of-year government events to help increase spending. The budget for government-issued loans for small enterprises has also been increased by 60 billion won ($41.3 million) to 3.77 trillion won. The possibility of a supplementary budget allocation is also increasing, with Finance Minister and Deputy Prime Minster Choi Sang-mok pledging to “continue the review on appropriate countermeasures” as he looks into “external uncertainties and the livelihoods of the public” during his recent visit to the National Assembly. A supplementary budget allocation at the start of the year is not only difficult for the government to justify but is also subject to pressure from the rise in inflation. “A more aggressive fiscal policy would be effective for a boost in domestic demand in the current situation,” said Kim Jung-sik, an honorary professor at Yonsei University’s Department of Economics. “Monetary policies like lowering the base rate may take a while to be effective.” “Both parties in the National Assembly should prospectively discuss a supplementary budget allocation in the first half of next year, and the government, too, should look at the big picture instead of just focusing on tightening the budget,” the professor said. “Without active efforts to boost the economy, the local economy might suffer until May or June of next year.” BY IM SOUNG-BIN [ [email protected] ] var admarutag = admarutag || {} admarutag.cmd = admarutag.cmd || [] admarutag.cmd.push(function () { admarutag.pageview('3bf9fc17-6e70-4776-9d65-ca3bb0c17cb7'); });

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Kitchens will lead Tar Heels in Fenway Bowl against UConn. Another ex-Browns coach is standing byBOSTON (AP) — UConn coach Jim Mora pulled a move that would make Bill Belichick proud while preparing the Huskies to play the notoriously churlish former New England Patriot's next team in his old backyard. Mora and his players were more than 45 minutes late for what was scheduled as a 30-minute media availability a day before Saturday's Fenway Bowl against North Carolina. Mora then gave a non-apology straight out of Belichick’s playbook. “We practice at a certain time the day before a game,” Mora said. “And we stuck to the script.” A six-time Super Bowl winner in New England with Tom Brady, Belichick was fired after going 4-13 in 2023, leaving him just 14 wins short of matching Don Shula’s all-time record for NFL victories. Unable to land a pro job at the age of 72, Belichick signed on with North Carolina — his first college gig — when they fired 73-year-old Mack Brown. Belichick hasn’t taken over on the Tar Heels' sideline yet; interim coach Freddie Kitchens — another ex-Cleveland Browns coach — will lead them in the Fenway Bowl. But the future Hall of Famer's potential return to a football field in Boston has been the biggest story ahead of Saturday’s game. Belichick did not attend media day, and Fenway Bowl executive director Brett Miller tried to preempt questions about him by asking reporters “to keep questions focusing on the players and coaches out here today.” “I don’t need to beat around the bush any more than that,” he said in comments that would have been cryptic if it weren’t so obvious to everyone who he meant. “I know there’s probably a lot of questions that you guys have about next year, particularly one side. Please do your best to keep it to these guys, because they’ve earned the right to be here.” The request wasn’t completely successful, with Kitchens taking a question about Belichick specifically and saying he talks to his new boss every day. Earlier this month, Kitchens said: “He asks questions; I answer the questions.” “I’m going to try to soak in all I can from him, and be a better coach because of it,” Kitchens said after Belichick was hired. “I love Carolina, I want what’s best for Carolina, and I know that right now at this moment in time, coach Belichick is what’s best for Carolina. “At the end of the day, he’s a ballcoach,” he said, “and I enjoy working for ballcoaches.” Mora also brushed off a question about whether the next Carolina coach would have any impact on Saturday's game. “It's irrelevant to us," said Mora, who was 0-1 against Belichick in four seasons as an NFL head coach. "We can't control the emotions of our opponents. And as far as I know, coach Belichick will not be taking the football field on Saturday, so it's not relevant to this football team in our preparation. How they got here North Carolina (6-6) will be playing in a bowl for the sixth straight year – the second-longest streak in program history. The Tar Heels climbed from back-to-back nine-loss seasons in the final years of Larry Fedora to reach into The Associated Top 25 in each of the previous four seasons under Brown, who also coached them from 1988-97 in one of the most successful eras of Carolina football history. After starting out 3-0 this year, the Tar Heels lost four straight — including a 70-50 loss to Sun Belt Conference team James Madison. They won three more to gain bowl eligibility before a loss to Boston College that sealed Brown's fate, and a season-ending loss to rival NC State. UConn is playing in its second bowl game in three seasons under Jim Mora, bouncing back from last year’s 3-9 record to post its first eight-win season since Randy Edsall took the Huskies to the Fiesta Bowl in 2010. An independent, UConn won all of its games against the non-Power 4 conferences and lost to Syracuse, Wake Forest and Duke of the Atlantic Coast Conference and Maryland of the Big Ten. Fenway Bowl history Miller said the bowl, which has struggled to find traction in a city more focused on the success of its professional sports teams, sold more tickets this year than in its first two. The Belichick angle is certainly part of that, but the game has also had some good success picking teams, hosting Louisville in 2022 -- the year before the Cardinals climbed into The Associated Press Top 10 – and then SMU last year, one season before the Mustangs made the College Football Playoff. “Could one of these teams be next,” Miller said. “We’ll see.” Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football

Blackhawks' Connor Bedard: '100 Things' I Could Improve amid Slump In 2nd NHL SeasonHOUSTON (AP) — The Astros welcomed first baseman Christian Walker to the team Monday, in one of two moves that almost certainly marks the end of Alex Bregman’s time in Houston. Walker signed a $60 million, three-year contract that will pay him $20 million annually just more than a week after the Astros acquired infielder Isaac Paredes from Cubs in the trade that sent outfielder Kyle Tucker to Chicago . “The way I view it right now is Paredes is going to play third base and Walker is going to play first base,” general manager Dana Brown said Monday. “And Bregman’s still a free agent.” The Astros had hoped to re-sign Bregman, the team’s third baseman for the last nine seasons, but Brown said the negotiations stalled. “I thought we made a really competitive offer, showing that we wanted him back,” he said. “But we had to pursue other options. We couldn’t just sit there. We locked in Paredes early in that trade, knowing that he could play third or first and then when the opportunity to add another bat came up we just jumped on it.” The addition of a first baseman was a priority this offseason for the Astros after they released struggling first baseman José Abreu less than halfway through a $58.5 million, three-year contract. “We knew we had to get better at first base,” Brown said. “We pursued (Walker) and we’re excited to have him because we know that we’re going to have a really good first baseman that can defend and also hit the ball on the seats from time to time.” Walked was attracted by the sustained success of the Astros, who won their first two World Series titles in 2017 and '22. “I’ve been watching this team for a while now, and that edge, the energy, the expectation, you can tell that they’re going out there with a standard,” he said. “And I’m very excited to be a part of it.” Walker is looking forward playing on an infield with star second baseman Jose Altuve. He’s fascinated by the success and consistency Altuve has had over his 14-year career. “I get a chance to learn from Jose Altuve,” Walker said. “Nothing really gets better than that.” Brown was asked what he would tell fans disappointed to see the Astros lose another star after George Springer and Carlos Correa left as free agents in recent years. “I would just tell the fans that look, we are very focused on remaining competitive,” he said. “We’re very focused on winning division and going back to the World Series, and I think with these additions that we have the ability to do that. So, I feel strongly that we’re going to be picked to win the division first off. And if our pitching holds up, which I feel strongly about, as well, I think we’ll get deep into the postseason.” The Astros won the AL West for a fourth straight year this season before being swept by the Tigers in an AL Wild Card Series. Walker, who turns 34 during the opening week of the season, hit .251 with 26 homers, 84 RBIs, 55 walks and 133 strikeouts this year. That was down from 2023, when he batted .258 with 33 homers and 103 RBIs as the Diamondbacks reached the World Series. Walker played in 130 games this year, down from 157 in 2023 and 160 in 2022. He was sidelined between July 29 and Sept. 3 by a strained left oblique. He spent the last eight seasons with the Diamondbacks, where he hit 146 homers with 442 RBIs and a .251 batting average. He didn’t secure a full-time job in the big leagues until 2019. He’s provided consistent power over the past six seasons and has grown into an elite defensive first baseman, winning Gold Gloves in each of the past three seasons. Walker played college ball at South Carolina and was drafted by the Baltimore Orioles in 2012. He made his big league debut with the Orioles in 2014 but couldn’t stick in the majors and was claimed off waivers by Atlanta, Cincinnati and Arizona in a five-week span. Walker’s contract has a limited no-trade provision allowing him to block deals to six teams without his consent. He would earn $200,000 for winning an MVP, $175,000 for second, $150,000 for third, $125,000 for fourth and $100,000 for fifth. Walker also would get $100,000 for World Series MVP, $50,000 for League Championship Series MVP and $75,000 apiece for making the All-Star Game or winning a Gold Glove or Silver Slugger Award. Infielder Grae Kessinger was designated for assignment to open a roster spot. ___ AP Baseball Writer Ronald Blum contributed to this report. ___ AP MLB: https://apnews.com/mlb Kristie Rieken, The Associated Press