Howard L. Petterson

The S&P 500 index closed at a record on Friday, crossing above its old high-water mark, set in early 2022. The gains show that investors have overcome fears of rising interest rates and panic about a recession that had governed stock trading for much of the past two years.Instead, they’re now betting that a drop in rates will help expand corporate profits, while the economy stays on a relatively solid footing.Even though the S&P 500 had struggled to push into the record — having bumped up against it for weeks before finally crossing above with jump on Friday — the…

Try going for a stroll in much of Guatemala City: It is a pedestrian’s nightmare.Motorcycles speed down crowded sidewalks. Rifle-grasping guards squint at each passerby, sizing up potential assailants. Smoke-belching buses barrel through stop signs.But tucked within the chaotic capital’s crazy-quilt sprawl, there is a dreamlike haven where none of that exists.In the City of Cayalá, a utopian domain created by one of Guatemala’s richest families, the streets are quiet and orderly, the stores are upscale and the homes attainable — if only to families from the country’s small, moneyed elite, or foreigners, like the American diplomats stationed at the…

In the backyard of Draymond Green’s $10 million home in the Los Angeles suburb of Brentwood, where white columns and a marble patio overlook the greenest of grass, Golden State Warriors coach Steve Kerr chatted with the heartbeat of his team.Hours earlier, the Warriors had landed in Los Angeles to a whirlwind of drama. The night before, Dec. 12 in Phoenix, Green had protested an uncalled foul by spinning and flailing his arms. He struck Suns center Jusuf Nurkić in the face, incurring a Flagrant 2 foul and automatic ejection. This was just shy of a month after his previous…

Apple said on Wednesday that it would begin selling its flagship smartwatches without the ability to detect people’s blood-oxygen levels.The tech giant will drop the feature starting Thursday after losing a patent case over its blood-oxygen measurement technology two months ago. The court ordered Apple to stop selling its Apple Watch Series 9 and Watch Ultra 2 devices. Rather than discontinue sales, the company sought permission to continue selling the devices after removing the infringing technology.People who buy a new watch in the United States will still see Apple’s Blood Oxygen app on the devices, the company said. But if…

A prominent Federal Reserve official on Tuesday laid out a case for lowering interest rates methodically at some point this year as the economy comes into balance and inflation cools — although he acknowledged that the timing of those cuts remained uncertain.Christopher Waller, one of the Fed’s seven Washington-based officials and one of the 12 policymakers who get to vote at its meetings, said during a speech at the Brookings Institution on Tuesday that he saw a case for cutting interest rates in 2024.“The data we have received the last few months is allowing the committee to consider cutting the…

Hamas fighters in the northern Gaza Strip fired at least 25 rockets toward a nearby Israeli city on Tuesday, renewing right-wing criticism in Israel of the government’s decision to scale back some military operations in the war.Hamas said in a statement that it had targeted the Israeli city of Netivot, about six miles from the Gaza border. Most of the rockets were either intercepted by Israel’s missile defense system or fell into open areas, and there were no immediate reports of casualties. But the Israeli police said that at least one building had been damaged.The attack highlighted Hamas’s continuing ability…