Week 12 TNF: Steelers-Browns Preview, Props & Prediction
Dell Technologies Q3 revenue falls short of estimates as weak PC demand weighsAP News Summary at 11:51 a.m. ESTQuinta Brunson, Rob McElhenney Pull For Hometown Eagles In ‘Sunday Night Football’ Promo Ahead Of ‘Abbott Elementary’ & ‘It’s Always Sunny’ CrossoverPistons guard Cade Cunningham leaves loss to the Hornets with hip injury after hard fall
Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief DETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists and industry officials say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea and an additional 10% tax on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday threatening tariffs on his first day in office could be a negotiating ploy to get the countries to change behavior. Trump’s latest tariff plan aims at multiple countries. What does it mean for the US? WASHINGTON (AP) — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation’s northern and southern borders, vowing sweeping new tariffs on Mexico, Canada, as well as China, as part of his effort to crack down on illegal immigration and drugs. Trump said he will impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. Federal Reserve officials signal cautious path for rate cuts amid still-high inflation WASHINGTON (AP) — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting. The minutes don’t specifically provide much guidance about what the Fed will do at its next meeting in December. Wall Street investors see the odds of another quarter-point reduction in the Fed’s key rate at that meeting as nearly even, according to CME Fedwatch. Canadian officials blast Trump's tariff threat and one calls Mexico comparison an insult TORONTO (AP) — Canadian officials are blasting President-elect Donald’s Trump’s threat to impose sweeping tariffs. The leader of Canada's most populous province on Tuesday called Trump’s comparison of Canada to Mexico “the most insulting thing I’ve ever heard.” Trump has threatened to impose tariffs on products from Canada, Mexico and China as soon as he takes office in January as part of efforts to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico. Canadians say their economy and the U.S. one are deeply intertwined and Americans would feel tariffs, too. Biden proposes Medicare and Medicaid cover costly weight-loss drugs for millions of obese Americans WASHINGTON (AP) — Millions of obese Americans would be eligible to have popular weight-loss drugs like Wegovy or Zepbound covered by Medicare or Medicaid under a new rule the Biden administration proposed Tuesday morning. The proposal, which would not be finalized until after President-elect Donald Trump takes office, could cost taxpayers as much as $35 billion over the next decade. It would give millions of people access to weekly injectables that have helped people shed pounds so quickly that some people have labeled them miracle drugs. Surveillance tech advances by Biden could aid in Trump's promised crackdown on immigration President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision. It’s almost time for Spotify Wrapped. When can you expect your 2024 recap? NEW YORK (AP) — It’s almost that time of year. Spotify is gearing up to release its annual Spotify Wrapped, a personalized recap of its users' listening habits and year in audio. The streaming service has been sharing these personalized analyses with since 2016. And each year, it’s become a bigger production than the last. Spotify claimed its 2023 Wrapped was the “biggest ever created” in terms of audience reach and the kind of data it provided to users. But information on Wrapped's 2024 release has been kept under ... er, wraps. In previous years, it’s been released after Thanksgiving, between Nov. 30 and Dec. 6. Thanksgiving travel is cranking up. Will the weather cooperate? The Thanksgiving travel rush is picking up, with Tuesday and Wednesday expected to be much busier than the last couple days. A lot of travelers will be watching weather forecasts to see if rain or snow could slow them down. The Transportation Security Administration expects to screen more than 2.8 million people on Tuesday and 2.9 million on Wednesday after handling more than 2.5 million people on Monday. So far, relatively few flights have been canceled this week, but there have been thousands of delayed flights every day. That is becoming normal for U.S. airlines. Federal agency raises the size of most single-family loans the government can guarantee to $806,500 The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $806,500 on single-family homes in most of the country, the agency said Tuesday. The new conforming loan limit is a 5.2% increase from its 2024 level. FHFA oversees Fannie Mae and Freddie Mac, which buy home loans from banks and other lenders. FHFA adjusts the loan limits annually to reflect changes in U.S. home values, which have been rising this year despite a national home sales slump. Stock market today: Wall Street hits records despite tariff talk NEW YORK (AP) — U.S. stocks rose to records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell.Aaron Judge’s performance in October won’t be forgotten any time soon. Judge hit .184 with 20 strikeouts in 49 at-bats over the course of the Yankees ’ playoff run. His drop on a routine fly ball to center field in Game 5 of the World Series was the beginning of a fifth-inning defensive meltdown, allowing the Dodgers to come back and ultimately close out the series. Considering Judge is expected to lead the Yankees on both sides of the ball — and he has a track record of disappointing production in the playoffs offensively over his career — it’s no surprise that the captain has been subject to widespread criticism. Don’t let that be a distraction from the type of year Judge had in the regular season, though. Judge had an all-time campaign this year. He turned an uncharacteristic start to the season into one of the best single-season performances by a right-handed hitter in MLB history. That’s why Judge was named the Most Valuable Player in the American League for the second time in his career on Thursday night. SIGN UP FOR OUR FREE YANKEES NEWSLETTER: RESTORING THE GLORY Judge won the award unanimously, earning all 30 first-place votes to beat out Royals shortstop Bobby Witt Jr. — who finished second — in a landslide. Juan Soto, who had a career year of his own hitting one spot in front of Judge in the Yankees’ lineup this year, finished third in the AL MVP race. With two MVP Awards to his name, Judge is the seventh player in Yankees history to win multiple MVPs. He joins Lou Gehrig, Joe DiMaggio, Yogi Berra, Mickey Mantle, Roger Maris and Alex Rodriguez. Judge and Mantle are the only Yankees to ever win the award unanimously. Judge led the league in countless offensive categories this year. He swatted 58 home runs and drove in 144 runs while posting a spectacular 1.159 OPS. Judge worked a league-high 133 walks and his 11.2 FanGraphs WAR was the best in baseball. There was an extended stretch over the summer where Judge was on a pace to reach and possibly break his own single-season home run record (62 in 2022, his other MVP season). The same goes for a bid at a Triple Crown. Judge finished the year with a career-best .322 batting average, the third-highest mark in the American League. He was 11 points lower than Witt. The stretch that truly defined his season began on April 27. Judge entered play on that day in Milwaukee with a .178 batting average and .674 OPS on the season. He had only four home runs with 35 strikeouts across 27 games. Over his next 100 games, through August 23, Judge hit .378 with 45 home runs. It was the first time in MLB history a player batted higher than .375 with 45-plus homers in a stretch of 100 games within a single season. MORE YANKEES COVERAGE Why Juan Soto ‘felt better’ about Yankees’ Hal Steinbrenner after meeting One Juan Soto meeting draws more positive reviews | Should Yankees, Mets be worried? What if Juan Soto says no? Yankees have a Plan B | Klapisch How will this season from Yankees’ Aaron Judge be remembered? Hal Steinbrenner shares Yankees offseason priorities beyond Juan Soto Thank you for relying on us to provide the journalism you can trust. Please consider supporting us with a subscription. Max Goodman may be reached at mgoodman@njadvancemedia.com .WASHINGTON — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. Tariffs are a tax on imports They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. There's much misinformation about who actually pays tariffs Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy Tariffs are intended mainly to protect domestic industries By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Economists generally consider tariffs self-defeating Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.
Philadelphia (8-2) at Los Angeles Rams (5-5) Sunday, 8:20 p.m. EST, NBC/Peacock BetMGM NFL odds: Eagles by 3. Against the spread: Eagles 6-4; Rams 4-6. Series record: Eagles lead 23-20-1. Last meeting: Eagles beat Rams 23-14 in Inglewood, Calif. on Oct. 8, 2023. Last week: Eagles beat Washington 26-18; Rams beat New England 28-22. Eagles offense: overall (5), rush (1), pass (22), scoring (7). Eagles defense: overall (1), rush (7), pass (2), scoring (6). Rams offense: overall (17), rush (26), pass (T-7), scoring (21). Rams defense: overall (23), rush (18), pass (22), scoring (22). Turnover differential: Eagles plus-2; Rams plus-4. RB Saquon Barkley. Barkley combined for 198 scrimmage yards and two scores, rushing 26 times for 146 yards (5.6 average) while adding two receptions for 52 yards against Washington. With 1,137 rushing yards through 10 games, Barkley only trails Baltimore’s Derrick Henry for the NFL lead. He had his sixth 100-plus yard rushing game this season, which is the most in the NFL. S Kam Kinchens. The rookie third-round pick from Miami had eight tackles, one tackle for loss, an interception and a forced fumble against the Patriots as he continues to come on strong. Kinchens has three picks in the past three games. Eagles QB Jalen Hurts vs. Rams’ defensive line. Hurts shredded Los Angeles for 303 yards passing and 72 yards rushing last season despite the presence of superstar DT Aaron Donald. After Donald retired, the Rams turned to a committee approach to get after the passer, and it has worked with rookie OLB Jared Verse and DT Braden Fiske fitting in well next to second-year OLB Byron Young and DT Kobie Turner. But they can only unleash their excellent pass rush skills by limiting Philadelphia on early downs. Hurts has been at his dual-threat best over the past five games, accounting for 15 total touchdowns (six passing, nine rushing) against two turnovers. Eagles defensive end Bryce Huff had surgery on his left wrist on Thursday, a move that could allow him to return toward the end of the season. ... WR DeVonta Smith (hamstring) and DT Milton Williams (foot) each missed practice this week. ... Rams RT Rob Havenstein (ankle) looks to be trending toward a return this week. Havenstein sat out the previous two games because of the ailment. The Eagles have won all three games in Los Angeles since the Rams moved back in 2016. ... Overall, Philadelphia has won seven of the past eight. The only setback came in Week 2 of the 2020 pandemic season. Barkley has passed 100-plus scrimmage yards in eight of 10 games. That is tied with LeSean McCoy (2011) and Brian Westbrook (2007) for the most by an Eagle through 10 games. His 198 yards were his second most as an Eagle (199 in Week 9). ... The Eagles have allowed two passing touchdowns during their winning streak. Only one opponent has topped 200 passing yards against them in this stretch, with Cincinnati throwing for 222 in Week 8. ... Hurts leads all NFL quarterbacks with 11 touchdown runs and is second only to Henry's 13 scores for the Ravens. ... WR A.J. Brown leads the league in receptions of 30 yards or longer. He is averaging 18.7 yards per catch, the best mark of any player with at least 30 grabs. ... Even before he hurt his wrist, Huff struggled in his first season in Philadelphia with just 2 1/2 sacks and four quarterback hits. His snap count has dipped since he was injured ahead of a game earlier this month against Jacksonville. Huff had 17 1/2 sacks in four seasons with the Jets before he signed a three-year, $51 million free-agent deal with the Eagles. ... Philadelphia has run for at least 150 yards and two touchdowns in five straight games, something it hadn't accomplished since 1949. ... Rams WR Puka Nacua caught his first touchdown of the season in New England. He has at least seven receptions and 98 yards in three of his past four games, with only a second-quarter ejection in Seattle having limited Nacua since he returned from a knee injury. ... WR Cooper Kupp has 614 receptions through his first 98 games, which is fourth most in NFL history through 100 games. Julio Jones (619) is third. ... RB Kyren Williams averaged a season-high 5.7 yards per carry, finishing with 86 yards on 15 attempts versus the Patriots. ... Verse has 11 tackles for loss and 4 1/2 sacks through his first 10 games. Verse is pressuring the quarterback on 20.2% of pass rush snaps, which ranks second in the league overall. ... The Rams were 2 of 8 (25%) on third down against New England, their third straight game converting 25% or worse. ... QB Matthew Stafford has not been sacked in each of Los Angeles’ past three wins. Don’t be discouraged using Stafford, Kupp and Nacua against Philadelphia's pass defense. All three put up solid fantasy numbers in last season’s meeting, even as the Eagles sat on the ball for nearly 38 minutes. Stafford had 222 yards and two scores, finding Kupp eight times for 118 yards and Nacua seven times for 71 yards and a touchdown, so they'll find ways to produce. AP NFL: https://apnews.com/hub/NFL
Week 12 TNF: Steelers-Browns Preview, Props & Prediction
Dell Technologies Q3 revenue falls short of estimates as weak PC demand weighsAP News Summary at 11:51 a.m. ESTQuinta Brunson, Rob McElhenney Pull For Hometown Eagles In ‘Sunday Night Football’ Promo Ahead Of ‘Abbott Elementary’ & ‘It’s Always Sunny’ CrossoverPistons guard Cade Cunningham leaves loss to the Hornets with hip injury after hard fall
Trump's threat to impose tariffs could raise prices for consumers, colliding with promise for relief DETROIT (AP) — If Donald Trump makes good on his threat to slap 25% tariffs on everything imported from Mexico and Canada, the price increases that could follow will collide with his campaign promise to give American families a break from inflation. Economists and industry officials say companies would have little choice but to pass along the added costs, dramatically raising prices for food, clothing, automobiles, booze and other goods. The president-elect floated the tariff idea and an additional 10% tax on goods from China, as a way to force the countries to halt the flow of illegal immigrants and drugs into the U.S. But his posts Monday threatening tariffs on his first day in office could be a negotiating ploy to get the countries to change behavior. Trump’s latest tariff plan aims at multiple countries. What does it mean for the US? WASHINGTON (AP) — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation’s northern and southern borders, vowing sweeping new tariffs on Mexico, Canada, as well as China, as part of his effort to crack down on illegal immigration and drugs. Trump said he will impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. Federal Reserve officials signal cautious path for rate cuts amid still-high inflation WASHINGTON (AP) — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed’s 2% target, officials said, “it would likely be appropriate to move gradually” in lowering rates, according to minutes of the November 6-7 meeting. The minutes don’t specifically provide much guidance about what the Fed will do at its next meeting in December. Wall Street investors see the odds of another quarter-point reduction in the Fed’s key rate at that meeting as nearly even, according to CME Fedwatch. Canadian officials blast Trump's tariff threat and one calls Mexico comparison an insult TORONTO (AP) — Canadian officials are blasting President-elect Donald’s Trump’s threat to impose sweeping tariffs. The leader of Canada's most populous province on Tuesday called Trump’s comparison of Canada to Mexico “the most insulting thing I’ve ever heard.” Trump has threatened to impose tariffs on products from Canada, Mexico and China as soon as he takes office in January as part of efforts to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the U.S. from Canada and Mexico. Canadians say their economy and the U.S. one are deeply intertwined and Americans would feel tariffs, too. Biden proposes Medicare and Medicaid cover costly weight-loss drugs for millions of obese Americans WASHINGTON (AP) — Millions of obese Americans would be eligible to have popular weight-loss drugs like Wegovy or Zepbound covered by Medicare or Medicaid under a new rule the Biden administration proposed Tuesday morning. The proposal, which would not be finalized until after President-elect Donald Trump takes office, could cost taxpayers as much as $35 billion over the next decade. It would give millions of people access to weekly injectables that have helped people shed pounds so quickly that some people have labeled them miracle drugs. Surveillance tech advances by Biden could aid in Trump's promised crackdown on immigration President-elect Donald Trump will return to power next year with a raft of technological tools at his disposal that would help deliver his campaign promise of cracking down on immigration — among them, surveillance and artificial intelligence technology that the Biden administration already uses to help make crucial decisions in tracking, detaining and ultimately deporting immigrants lacking permanent legal status. One algorithm, for example, ranks immigrants with a “Hurricane Score,” ranging from 1-5, to assess whether someone will “abscond” from the agency’s supervision. It’s almost time for Spotify Wrapped. When can you expect your 2024 recap? NEW YORK (AP) — It’s almost that time of year. Spotify is gearing up to release its annual Spotify Wrapped, a personalized recap of its users' listening habits and year in audio. The streaming service has been sharing these personalized analyses with since 2016. And each year, it’s become a bigger production than the last. Spotify claimed its 2023 Wrapped was the “biggest ever created” in terms of audience reach and the kind of data it provided to users. But information on Wrapped's 2024 release has been kept under ... er, wraps. In previous years, it’s been released after Thanksgiving, between Nov. 30 and Dec. 6. Thanksgiving travel is cranking up. Will the weather cooperate? The Thanksgiving travel rush is picking up, with Tuesday and Wednesday expected to be much busier than the last couple days. A lot of travelers will be watching weather forecasts to see if rain or snow could slow them down. The Transportation Security Administration expects to screen more than 2.8 million people on Tuesday and 2.9 million on Wednesday after handling more than 2.5 million people on Monday. So far, relatively few flights have been canceled this week, but there have been thousands of delayed flights every day. That is becoming normal for U.S. airlines. Federal agency raises the size of most single-family loans the government can guarantee to $806,500 The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $806,500 on single-family homes in most of the country, the agency said Tuesday. The new conforming loan limit is a 5.2% increase from its 2024 level. FHFA oversees Fannie Mae and Freddie Mac, which buy home loans from banks and other lenders. FHFA adjusts the loan limits annually to reflect changes in U.S. home values, which have been rising this year despite a national home sales slump. Stock market today: Wall Street hits records despite tariff talk NEW YORK (AP) — U.S. stocks rose to records after Donald Trump’s latest talk about tariffs created only some ripples on Wall Street. The S&P 500 rose 0.6% to reach another all-time high. The Dow Jones Industrial Average added 0.3% to its own record set the day before, while the Nasdaq composite rose 0.6% as Big Tech stocks helped lead the way. Stock markets abroad saw mostly modest losses after President-elect Trump said he plans to impose sweeping tariffs on Mexico, Canada and China as soon as he takes office. U.S. automakers and other companies that could be hurt particularly by such tariffs fell.Aaron Judge’s performance in October won’t be forgotten any time soon. Judge hit .184 with 20 strikeouts in 49 at-bats over the course of the Yankees ’ playoff run. His drop on a routine fly ball to center field in Game 5 of the World Series was the beginning of a fifth-inning defensive meltdown, allowing the Dodgers to come back and ultimately close out the series. Considering Judge is expected to lead the Yankees on both sides of the ball — and he has a track record of disappointing production in the playoffs offensively over his career — it’s no surprise that the captain has been subject to widespread criticism. Don’t let that be a distraction from the type of year Judge had in the regular season, though. Judge had an all-time campaign this year. He turned an uncharacteristic start to the season into one of the best single-season performances by a right-handed hitter in MLB history. That’s why Judge was named the Most Valuable Player in the American League for the second time in his career on Thursday night. SIGN UP FOR OUR FREE YANKEES NEWSLETTER: RESTORING THE GLORY Judge won the award unanimously, earning all 30 first-place votes to beat out Royals shortstop Bobby Witt Jr. — who finished second — in a landslide. Juan Soto, who had a career year of his own hitting one spot in front of Judge in the Yankees’ lineup this year, finished third in the AL MVP race. With two MVP Awards to his name, Judge is the seventh player in Yankees history to win multiple MVPs. He joins Lou Gehrig, Joe DiMaggio, Yogi Berra, Mickey Mantle, Roger Maris and Alex Rodriguez. Judge and Mantle are the only Yankees to ever win the award unanimously. Judge led the league in countless offensive categories this year. He swatted 58 home runs and drove in 144 runs while posting a spectacular 1.159 OPS. Judge worked a league-high 133 walks and his 11.2 FanGraphs WAR was the best in baseball. There was an extended stretch over the summer where Judge was on a pace to reach and possibly break his own single-season home run record (62 in 2022, his other MVP season). The same goes for a bid at a Triple Crown. Judge finished the year with a career-best .322 batting average, the third-highest mark in the American League. He was 11 points lower than Witt. The stretch that truly defined his season began on April 27. Judge entered play on that day in Milwaukee with a .178 batting average and .674 OPS on the season. He had only four home runs with 35 strikeouts across 27 games. Over his next 100 games, through August 23, Judge hit .378 with 45 home runs. It was the first time in MLB history a player batted higher than .375 with 45-plus homers in a stretch of 100 games within a single season. MORE YANKEES COVERAGE Why Juan Soto ‘felt better’ about Yankees’ Hal Steinbrenner after meeting One Juan Soto meeting draws more positive reviews | Should Yankees, Mets be worried? What if Juan Soto says no? Yankees have a Plan B | Klapisch How will this season from Yankees’ Aaron Judge be remembered? Hal Steinbrenner shares Yankees offseason priorities beyond Juan Soto Thank you for relying on us to provide the journalism you can trust. Please consider supporting us with a subscription. Max Goodman may be reached at mgoodman@njadvancemedia.com .WASHINGTON — President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. On Monday, Trump sent shockwaves across the nation's northern and southern borders, vowing sweeping new tariffs on Mexico, Canada , as well as China, as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. In a pair of posts on his Truth Social site Trump railed against an influx of immigrants lacking permanent legal status, even though southern border apprehensions have been hovering near four-year lows. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. He said the new tariffs would remain in place “until such time as Drugs, in particular Fentanyl, and all Illegal Aliens stop this Invasion of our Country!” The president-elect asserts that tariffs — basically import taxes — will create more factory jobs, shrink the federal deficit, lower food prices and allow the government to subsidize childcare. Economists are generally skeptical, considering tariffs to be a mostly inefficient way for governments to raise money. They are especially alarmed by Trump’s latest proposed tariffs. Carl B. Weinberg and Rubeela Farooqi, economists with High Frequency Economics said Tuesday that energy, automobiles and food supplies will be particularly hit hard. “Imposing tariffs on trade flows into the United States without first preparing alternative sources for the goods and services affected will raise the price of imported items at once," Weinberg and Farooqi wrote. "Since many of these goods are consumer goods, households will be made poorer.” High Frequency Economics believes the threats are not meant to support new trade policy and are instead a tool to elicit some changes along the borders and for imports from Canada, Mexico and China. Though Vice President Kamala Harris criticized Trump’s tariff threats as unserious during her failed bid for the presidency, the Biden-Harris administration retained the taxes the Trump administration imposed on $360 billion in Chinese goods. And it imposed a 100% tariff on Chinese electric vehicles. Indeed, the United States in recent years has gradually retreated from its post-World War II role of promoting global free trade and lower tariffs. That shift has been a response to the loss of U.S. manufacturing jobs, widely attributed to unfettered trade and an increasingly aggressive China. Tariffs are a tax on imports They are typically charged as a percentage of the price a buyer pays a foreign seller. In the United States, tariffs are collected by Customs and Border Protection agents at 328 ports of entry across the country. The tariff rates range from passenger cars (2.5%) to golf shoes (6%). Tariffs can be lower for countries with which the United States has trade agreements. For example, most goods can move among the United States, Mexico and Canada tariff-free because of Trump’s US-Mexico-Canada trade agreement. There's much misinformation about who actually pays tariffs Trump insists that tariffs are paid for by foreign countries. In fact, its is importers — American companies — that pay tariffs, and the money goes to U.S. Treasury. Those companies, in turn, typically pass their higher costs on to their customers in the form of higher prices. That's why economists say consumers usually end up footing the bill for tariffs. Still, tariffs can hurt foreign countries by making their products pricier and harder to sell abroad. Yang Zhou, an economist at Shanghai’s Fudan University, concluded in a study that Trump’s tariffs on Chinese goods inflicted more than three times as much damage to the Chinese economy as they did to the U.S. economy Tariffs are intended mainly to protect domestic industries By raising the price of imports, tariffs can protect home-grown manufacturers. They may also serve to punish foreign countries for committing unfair trade practices, like subsidizing their exporters or dumping products at unfairly low prices. Before the federal income tax was established in 1913, tariffs were a major revenue driver for the government. From 1790 to 1860, tariffs accounted for 90% of federal revenue, according to Douglas Irwin, a Dartmouth College economist who has studied the history of trade policy. Tariffs fell out of favor as global trade grew after World War II. The government needed vastly bigger revenue streams to finance its operations. In the fiscal year that ended Sept. 30, the government is expected to collect $81.4 billion in tariffs and fees. That's a trifle next to the $2.5 trillion that's expected to come from individual income taxes and the $1.7 trillion from Social Security and Medicare taxes. Still, Trump wants to enact a budget policy that resembles what was in place in the 19th century. He has argued that tariffs on farm imports could lower food prices by aiding America’s farmers. In fact, tariffs on imported food products would almost certainly send grocery prices up by reducing choices for consumers and competition for American producers. Tariffs can also be used to pressure other countries on issues that may or may not be related to trade. In 2019, for example, Trump used the threat of tariffs as leverage to persuade Mexico to crack down on waves of Central American migrants crossing Mexican territory on their way to the United States. Trump even sees tariffs as a way to prevent wars. “I can do it with a phone call,’’ he said at an August rally in North Carolina. If another country tries to start a war, he said he’d issue a threat: “We’re going to charge you 100% tariffs. And all of a sudden, the president or prime minister or dictator or whoever the hell is running the country says to me, ‘Sir, we won’t go to war.’ ” Economists generally consider tariffs self-defeating Tariffs raise costs for companies and consumers that rely on imports. They're also likely to provoke retaliation. The European Union, for example, punched back against Trump’s tariffs on steel and aluminum by taxing U.S. products, from bourbon to Harley-Davidson motorcycles. Likewise, China responded to Trump’s trade war by slapping tariffs on American goods, including soybeans and pork in a calculated drive to hurt his supporters in farm country. A study by economists at the Massachusetts Institute of Technology, the University of Zurich, Harvard and the World Bank concluded that Trump’s tariffs failed to restore jobs to the American heartland. The tariffs “neither raised nor lowered U.S. employment’’ where they were supposed to protect jobs, the study found. Despite Trump’s 2018 taxes on imported steel, for example, the number of jobs at U.S. steel plants barely budged: They remained right around 140,000. By comparison, Walmart alone employs 1.6 million people in the United States. Worse, the retaliatory taxes imposed by China and other nations on U.S. goods had “negative employment impacts,’’ especially for farmers, the study found. These retaliatory tariffs were only partly offset by billions in government aid that Trump doled out to farmers. The Trump tariffs also damaged companies that relied on targeted imports. If Trump’s trade war fizzled as policy, though, it succeeded as politics. The study found that support for Trump and Republican congressional candidates rose in areas most exposed to the import tariffs — the industrial Midwest and manufacturing-heavy Southern states like North Carolina and Tennessee.
Philadelphia (8-2) at Los Angeles Rams (5-5) Sunday, 8:20 p.m. EST, NBC/Peacock BetMGM NFL odds: Eagles by 3. Against the spread: Eagles 6-4; Rams 4-6. Series record: Eagles lead 23-20-1. Last meeting: Eagles beat Rams 23-14 in Inglewood, Calif. on Oct. 8, 2023. Last week: Eagles beat Washington 26-18; Rams beat New England 28-22. Eagles offense: overall (5), rush (1), pass (22), scoring (7). Eagles defense: overall (1), rush (7), pass (2), scoring (6). Rams offense: overall (17), rush (26), pass (T-7), scoring (21). Rams defense: overall (23), rush (18), pass (22), scoring (22). Turnover differential: Eagles plus-2; Rams plus-4. RB Saquon Barkley. Barkley combined for 198 scrimmage yards and two scores, rushing 26 times for 146 yards (5.6 average) while adding two receptions for 52 yards against Washington. With 1,137 rushing yards through 10 games, Barkley only trails Baltimore’s Derrick Henry for the NFL lead. He had his sixth 100-plus yard rushing game this season, which is the most in the NFL. S Kam Kinchens. The rookie third-round pick from Miami had eight tackles, one tackle for loss, an interception and a forced fumble against the Patriots as he continues to come on strong. Kinchens has three picks in the past three games. Eagles QB Jalen Hurts vs. Rams’ defensive line. Hurts shredded Los Angeles for 303 yards passing and 72 yards rushing last season despite the presence of superstar DT Aaron Donald. After Donald retired, the Rams turned to a committee approach to get after the passer, and it has worked with rookie OLB Jared Verse and DT Braden Fiske fitting in well next to second-year OLB Byron Young and DT Kobie Turner. But they can only unleash their excellent pass rush skills by limiting Philadelphia on early downs. Hurts has been at his dual-threat best over the past five games, accounting for 15 total touchdowns (six passing, nine rushing) against two turnovers. Eagles defensive end Bryce Huff had surgery on his left wrist on Thursday, a move that could allow him to return toward the end of the season. ... WR DeVonta Smith (hamstring) and DT Milton Williams (foot) each missed practice this week. ... Rams RT Rob Havenstein (ankle) looks to be trending toward a return this week. Havenstein sat out the previous two games because of the ailment. The Eagles have won all three games in Los Angeles since the Rams moved back in 2016. ... Overall, Philadelphia has won seven of the past eight. The only setback came in Week 2 of the 2020 pandemic season. Barkley has passed 100-plus scrimmage yards in eight of 10 games. That is tied with LeSean McCoy (2011) and Brian Westbrook (2007) for the most by an Eagle through 10 games. His 198 yards were his second most as an Eagle (199 in Week 9). ... The Eagles have allowed two passing touchdowns during their winning streak. Only one opponent has topped 200 passing yards against them in this stretch, with Cincinnati throwing for 222 in Week 8. ... Hurts leads all NFL quarterbacks with 11 touchdown runs and is second only to Henry's 13 scores for the Ravens. ... WR A.J. Brown leads the league in receptions of 30 yards or longer. He is averaging 18.7 yards per catch, the best mark of any player with at least 30 grabs. ... Even before he hurt his wrist, Huff struggled in his first season in Philadelphia with just 2 1/2 sacks and four quarterback hits. His snap count has dipped since he was injured ahead of a game earlier this month against Jacksonville. Huff had 17 1/2 sacks in four seasons with the Jets before he signed a three-year, $51 million free-agent deal with the Eagles. ... Philadelphia has run for at least 150 yards and two touchdowns in five straight games, something it hadn't accomplished since 1949. ... Rams WR Puka Nacua caught his first touchdown of the season in New England. He has at least seven receptions and 98 yards in three of his past four games, with only a second-quarter ejection in Seattle having limited Nacua since he returned from a knee injury. ... WR Cooper Kupp has 614 receptions through his first 98 games, which is fourth most in NFL history through 100 games. Julio Jones (619) is third. ... RB Kyren Williams averaged a season-high 5.7 yards per carry, finishing with 86 yards on 15 attempts versus the Patriots. ... Verse has 11 tackles for loss and 4 1/2 sacks through his first 10 games. Verse is pressuring the quarterback on 20.2% of pass rush snaps, which ranks second in the league overall. ... The Rams were 2 of 8 (25%) on third down against New England, their third straight game converting 25% or worse. ... QB Matthew Stafford has not been sacked in each of Los Angeles’ past three wins. Don’t be discouraged using Stafford, Kupp and Nacua against Philadelphia's pass defense. All three put up solid fantasy numbers in last season’s meeting, even as the Eagles sat on the ball for nearly 38 minutes. Stafford had 222 yards and two scores, finding Kupp eight times for 118 yards and Nacua seven times for 71 yards and a touchdown, so they'll find ways to produce. AP NFL: https://apnews.com/hub/NFL
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