In a debate that evoked a calmer era in American politics, Tim Walz and JD Vance went after each other’s running mates Tuesday and sought to shore up their campaigns’ vulnerabilities at a time of renewed fears of a regional war in the Middle East and sadness over devastation from Hurricane Helene.
Meanwhile, those new trials — along with a dockworkers strike that threatens the U.S. economy — are looming over the final weeks of the presidential campaign and could help shape the public mood as voters decide between Democrat Kamala Harris and Republican Donald Trump.
Follow the AP’s Election 2024 coverage at: https://apnews.com/hub/election-2024.
Here’s the latest:
Democratic vice presidential nominee Tim Walz is holding a bus tour through central Pennsylvania with stops in the capital of Harrisburg, as well as York, and Reading.
In York, he’s being joined by Democratic Pennsylvania Sen. John Fetterman for a rally. While on the tour, Walz plans to meet with labor organizers and leaders from rural areas and the Hispanic community.
Vice President Kamala Harris had originally been set to do the bus tour with Walz following Tuesday night’s vice presidential debate in New York, but she's instead heading to Georgia on Wednesday to see areas hard-hit by Hurricane Helene.
On Saturday, Walz has fundraisers scheduled for Cleveland and Cincinnati, then will head to California and Washington state. That swing will feature campaign stops in Reno, Nevada — a makeup for a planned trip in September that Walz scrapped because of wildfires -- and Arizona, where early voting will be kicking off.
The Harris campaign says Walz will also increase the number of media interviews he's doing post-debate, with an eye to reaching target voters across key demographics.
Over the past four years, President Joe Biden has jetted off to survey damage and console victims after tornadoes, wildfires and tropical storms. It’s not a role Kamala Harris has played as vice president.
But on Wednesday, they'll both fan out across the Southeast to grapple with the damage from Hurricane Helene, seeking to demonstrate commitment and competence in helping devastated communities after Donald Trump’s false claims about their administration’s response. Biden is heading to North and South Carolina, while Harris is going to Georgia.
Harris’ stop will also serve as a political test in the midst of a humanitarian crisis. She’s trying to step into the role for which Biden is best known — showing the empathy Americans expect in times of tragedy — in the closing stretch of her campaign for president.
Former President Donald Trump is going back to Butler, Pennsylvania, where the world saw him pump his fist and beseech followers to “fight,” even as blood streaked his face from a would-be assassin’s bullet.
In announcing his return, the current Republican nominee said he planned to “celebrate a unifying vision for America’s future in an event like the world has never seen before.”
The question is: Is Butler ready?
While many are predicting a large crowd to hear Trump speak back at the very Farm Show property where a bullet grazed his right ear on July 13, there's also apprehension in town, along with a sense that Butler is still healing.
This combination image shows Democratic vice presidential nominee Minnesota Gov. Tim Walz, left, and Republican vice presidential nominee Sen. JD Vance, R-Ohio, right, during a vice presidential debate hosted by CBS News, Tuesday, Oct. 1, 2024, in New York. (AP Photo)
Republican vice presidential nominee Sen. JD Vance, R-Ohio, talks with Democratic vice presidential candidate Minnesota Gov. Tim Walz after the vice presidential debate hosted by CBS News Tuesday, Oct. 1, 2024, in New York. (AP Photo/Matt Rourke)
Republican presidential nominee former President Donald Trump speaks at a campaign event Tuesday, Oct. 1, 2024, at Discovery World in Milwaukee. (AP Photo/Andy Manis)
Democratic presidential nominee Vice President Kamala Harris speaks to members of the media, Tuesday Oct. 1, 2024, in Washington. (AP Photo/Jacquelyn Martin)
NEW YORK (AP) — U.S. stocks are slipping in early trading, and crude oil prices are continuing to rise as the world waits to see how Israel will respond to a missile attack from Iran. The S&P 500 was 0.3% lower Wednesday, a day after sliding from its record on worries about a possible widening of the fighting in the Middle East. The Dow Jones Industrial Average was down 159 points, or 0.4%, and the Nasdaq composite was off 0.3%. Oil prices rose by more than 3%. Nike sank 7.4% after reporting revenue that fell short of analysts’ estimates and pulling its forecast for full-year results.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Wall Street pointed toward losses before markets opened and oil prices rose further amid escalating tensions between Israel and Iran in an already inflamed Middle East.
Futures for the S&P 500 and the Dow Jones Industrial Average were each down about 0.1% before the bell.
While Israel is not a major producer of oil, Iran is OPEC's third largest producer and the potential for a wider, sustained conflict raises the risk of disruptions to supplies by neighboring producers of crude. However, some analysts have been skeptical that the U.S. would experience massive oil shortages, since U.S. oil production is at an all-time high.
Early Wednesday, U.S. crude was up $2.11, or 3%, to $71.94 per barrel. Brent crude climbed $1.96 to $75.52 per barrel.
Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against Iran, which he said “made a big mistake tonight and it will pay for it.” An Iranian commander threatened wider strikes on infrastructure if Israel retaliates.
Nike shares tumbled 7.2% after the shoe giant posted lackluster first-quarter results, including sales that came in lower than Wall Street was expecting. Nike, which is in the middle of a CEO transition, also pulled its full-year guidance and postponed its investors day conference. Its shares are down about 22% this year.
Shares of Humana shed close to 20% early Wednesday after the health insurer said a Medicare Advantage quality rating drop will hurt future bonus payments the company receives.
On Monday, the S&P 500 set an all-time high for the 43rd time this year. Stocks had been jumping on hopes the U.S. economy can continue to grow despite a slowdown in the job market, as the Federal Reserve cuts interest rates to give it more juice. The Fed last month lowered its main interest rate for the first time in more than four years, and it’s indicated it will deliver more cuts through next year.
The dominant question hanging over Wall Street is whether the cuts will ultimately prove to be too little, too late after the Fed earlier kept rates at a two-decade high in hopes of braking on the economy enough to stamp out high inflation.
Another threat to the economy could lie in a strike by dockworkers at 36 ports across the eastern United States that could snarl supply chains and drive up inflation.
The workers are asking for a labor contract that doesn’t allow automation to take their jobs, among other things. Supply chain experts say consumers won’t see an immediate impact because most retailers have stocked up on goods, moving ahead shipments of holiday gift items.
A debate Tuesday night between vice presidential candidates Democratic Gov. of Minnesota Tim Walz and Republican senator JD Vance drew scant market attention, analysts said.
“The market’s muted reaction says it all — traders are far more focused on pressing economic concerns and geopolitical risks than on the vice presidential showdown,” Stephen Innes of SPI Asset Management said in a commentary.
In Europe at midday, Germany's DAX rose 0.7% and the FTSE 100 in London ticked up 0.1%. In Paris, the CAC 40 picked up 0.2%.
Tokyo's Nikkei 225 lost 2.2% to 37,808.76. It has retreated since the ruling Liberal Democratic Party chose Shigeru Ishiba to lead the government, replacing Fumio Kishida, who stepped aside on Tuesday. Higher energy prices in Japan, which relies heavily on imported oil, gas and coal to power its industries, would add to Ishiba's burdens as he works to pep up the economy.
Hong Kong's Hang Seng roared 6.2% higher to 22,443.73, riding a wave of investor enthusiasm over recent moves by Beijing to rev up the Chinese economy with policies aimed at reviving the ailing property sector and supporting financial markets. With Shanghai and other markets in China closed, trading crowded into Hong Kong.
FILE - Signs marking the intersection of Broad and Walls Streets appear near the New York Stock Exchange on Oct. 1, 2024, in New York. (AP Photo/Peter Morgan, File)
The New York Stock Exchange, right, is shown on Tuesday, Oct. 1, 2024, in New York. (AP Photo/Peter Morgan)
A person walks in front of the Tokyo Stock Exchange building Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of the Tokyo Stock Exchange building Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
People watch an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Wednesday, Oct. 2, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
