A costly campaign by abortion-rights advocates for state Supreme Court seats yielded mixed results in Tuesday's election, with Republicans expanding their majority on Ohio's court while candidates backed by progressive groups won in Montana and Michigan.
One of the most expensive and closely watched Supreme Court races in North Carolina, where a Democratic justice campaigned heavily on abortion rights and Republicans hope to expand their majority, remained too early to call Thursday.
Groups on both the right and left spent millions in the leadup to the election hoping to reshape courts that'll be battlegrounds for voting rights, redistricting, abortion and other issues.
Abortion-rights supporters touted victories in states that Donald Trump won, saying it's a sign that reproductive rights will be key in judicial campaigns after the U.S. Supreme Court's 2022 decision overturning Roe v. Wade. In states like Montana and Arizona, state courts may soon be tasked with interpreting how abortion-rights amendments voters passed this week would impact existing laws.
“State Supreme Court judges don't really have anything to say about the economy, but they certainly do have something to say about reproductive rights and voting rights and democracy and what your life is going to be like from a right to liberty perspective in your state," said Deirdre Schifeling, chief political and advocacy officer for the American Civil Liberties Union. “So I think we have a real opportunity to define these judges and this level of the ballot by reproductive rights.”
The ACLU spent $5.4 million on court races in Montana, Michigan, North Carolina and Ohio. Planned Parenthood and the National Democratic Redistricting Committee earlier this year announced they were collectively spending $5 million, focusing on court races in those states, as well as in Arizona and Texas.
Conservative groups also spent heavily in those states, but with ads focusing on issues other than abortion such as immigration and crime.
In Ohio, all three Democrats running for the state Supreme Court lost their race. The victory gives Republicans a 6-1 majority on the court. A county judge in October struck down the state’s six-week abortion ban and the state Supreme Court is expected to hear more cases aiming to undo regulations that, for example, require 24-hour waiting periods or in-person appointments for patients.
“Ohioans made a strong statement tonight that will keep the court under Republican control for years to come,” said Dee Duncan, president of the Republican State Leadership Committee's Judicial Fairness Initiative, which spent nearly $1 million on the race.
Michigan Democrats won two seats on the state’s Supreme Court, expanding their majority to 5-2. While the elections are nonpartisan, parties nominate the candidates.
“With the liberal majority protected, Michigan Dems’ hard work past and future will not be threatened by the MAGA fanatics that threaten our values here in Michigan,” Chair of the Michigan Democratic Party Lavora Barnes said in a statement.
In North Carolina, Justice Allison Riggs trailed narrowly Court of Appeals Judge Jefferson Griffin in their race for an eight-year term on the state’s highest court. The Associated Press has not called the race, for which nearly 5.5 million ballots have been counted. Tens of thousands of additional provisional and absentee ballots still had to be reviewed by county election officials, and the trailing candidate could seek a recount if the final margin is narrow enough.
Riggs' campaign focused on reproductive rights, running ads that said Griffin could be a deciding vote on the 5-2 majority Republican court for further abortion restrictions. Griffin had said it was inappropriate for Riggs to talk about an issue that could come before the court.
Heated bids for a pair of seats on Montana's court were a split decision, with county attorney Cory Swanson defeating former U.S. Magistrate Judge Jerry Lynch for chief justice. State judge Katherine Bidegaray defeated state judge Dan Wilson for another open seat on the court.
Progressive groups backed Lynch and Bidegaray, casting the races as key to protecting abortion rights in a state where Republicans control the Legislature and the governor's office. Republicans who complained about the court's rulings against laws that would have restricted abortion access or made it more difficult to vote supported Swanson and Wilson.
A longshot effort by abortion-rights advocates to unseat three justices on Texas' all-Republican Supreme Court fell short, with Jimmy Blacklock, John Devine and Jane Bland winning reelection. The three were part of unanimous rulings rejecting challenges to the state’s abortion ban.
In Arizona, two justices won retention elections despite efforts to oust them over the court decision that cleared way for a long-dormant 1864 law banning nearly all abortions to be enforced. The state Legislature swiftly repealed it, and voters on Tuesday approved a constitutional amendment guaranteeing abortion access up to fetal viability, typically after 21 weeks.
Conservatives also won in Oklahoma, where voters removed one of three Supreme Court justices appointed by a former Democratic governor who were up for retention. A 5-4 ruling by the court last year overturned a portion of the state’s near total ban on abortion. It was the first time any Oklahoma appellate judge had been removed through a retention election.
An Arkansas justice who wrote a blistering dissent when the court's Republican-backed majority blocked an abortion rights measure from the ballot was elected chief justice. That race, however, won't change the court's majority.
The next big battleground comes next year in Wisconsin, where a race will determine whether liberals maintain their 4-3 majority on the court. The open race for retiring Justice Ann Walsh Bradley's seat comes after the court flipped from conservative control in a 2023 election marked by record-breaking spending.
“It doesn’t seem like state Supreme Court elections are going to go back to the way they were 10 years ago anytime soon,” said Douglas Keith, senior counsel in the judiciary program at the Brennan Center, which has tracked spending on state court races.
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Associated Press writers Christine Fernando in Washington, Gary Robertson in Raleigh, North Carolina, Isabella Volmert in Lansing, Michigan, Sean Murphy in Oklahoma City, Amy Beth Hanson in Helena, Montana, and Julie Carr Smyth in Columbus, Ohio, contributed to this report.
This story was first published on Nov. 7, 2024. It was updated on Nov. 11, 2024 to correct that an an Ohio county judge, not the state Supreme Court, struck down the state’s six-week abortion ban.
FILE - Boxes containing signatures supporting a proposed ballot measure to scale back Arkansas' abortion ban are delivered to a room in the state Capitol, July 5, 2024, in Little Rock, Ark. (AP Photo/Andrew DeMillo, File)
FILE - Abortion rights supporters gather for a "pink out" protest organized by Planned Parenthood in the rotunda of the Wisconsin Capitol, June 22, 2022, in Madison, Wis. (AP Photo/Harm Venhuizen, File)
FILE - Stephen Parlato of Boulder, Colo., holds a sign that reads "Hands Off Roe!!!" as abortion rights advocates and anti-abortion protesters demonstrate in front of the U.S. Supreme Court, Wednesday, Dec. 1, 2021, in Washington. (AP Photo/Andrew Harnik, File)
NEW YORK (AP) — What a wonderful year 2024 has been for investors.
U.S. stocks ripped higher and carried the S&P 500 to records as the economy kept growing and the Federal Reserve began cutting interest rates.
The year featured many familiar winners, such as Big Tech, which got even bigger as their stock prices kept growing. But it wasn't just Apple, Nvidia and the like. Bitcoin, gold and other investments also drove higher.
Here's a look at some of the numbers that defined the year. All are as of Dec. 20.
Remember when President Bill Clinton got impeached or when baseball's Mark McGwire hit his 70th home run against the Montreal Expos? That was the last time the U.S. stock market closed out a second straight year with a leap of at least 20%, something the S&P 500 is on track to do again this year. The index has climbed 24.3% so far this year, not including dividends, following last year's spurt of 24.2%.
The number of all-time highs the S&P 500 has set so far this year. The first came early, on Jan. 19, when the index capped a two-year comeback from the swoon caused by high inflation and worries that high interest rates instituted by the Federal Reserve to combat it would create a recession. But the index was methodical through the rest of the year, setting a record in every month outside of April and August, according to S&P Dow Jones Indices. The latest came on Dec. 6.
The number of times the Federal Reserve has cut its main interest rate this year from a two-decade high, offering some relief to the economy. Expectations for those cuts, along with hopes for more in 2025, were a big reason the U.S. stock market has been so successful this year. The 1 percentage point of cuts, though, is still short of the 1.5 percentage points that many traders were forecasting for 2024 at the start of the year. The Fed disappointed investors in December when it said it may cut rates just two more times in 2025, fewer than it had earlier expected.
That’s how many points the Dow Jones Industrial Average rose by the day after Election Day, as investors made bets on what Donald Trump’s return to the White House will mean for the economy and the world. The more widely followed S&P 500 soared 2.5% for its best day in nearly two years. Aside from bitcoin, stocks of banks and smaller winners were also perceived to be big winners. The bump has since diminished amid worries that Trump’s policies could also send inflation higher.
The level that bitcoin topped to set a record above $108,000 this past month. It's been climbing as interest rates come down, and it got a particularly big boost following Trump's election. He's turned around and become a fan of crypto, and he's named a former regulator who’s seen as friendly to digital currencies as the next chair of the Securities and Exchange Commission, replacing someone who critics said was overly aggressive in his oversight. Bitcoin was below $17,000 just two years ago following the collapse of crypto exchange FTX.
Gold's rise for the year, as it also hit records and had as strong a run as U.S. stocks. Wars around the world have helped drive demand for investments seen as safe, such as gold. It's also benefited from the Fed's cut to interest rates. When bonds are paying less in interest, they pull away fewer potential buyers from gold, which pays investors nothing.
It's a favorite number of Elon Musk, and it's also a threshold that Tesla's stock price passed in December as it set a record. The number has a long history among marijuana devotees, and Musk famously said in 2018 that he had secured funding to take Tesla private at $420 per share. Tesla soared this year, up from less than $250 at the start, in part because of expectations that Musk's close relationship with Trump could benefit the company.
That's how much revenue Nvidia made in the nine months through Oct. 27, showing how the artificial-intelligence frenzy is creating mountains of cash. Nvidia's chips are driving much of the move into AI, and its revenue through the last nine months catapulted from less than $39 billion the year before. Such growth has boosted Nvidia's worth to more than $3 trillion in total.
GameStop’s gain on May 13 after Keith Gill, better known as “Roaring Kitty,” appeared online for the first time in three years to support the video game retailer’s stock, which he helped rocket to unimaginable heights during the “ meme stock craze ” in 2021. Several other meme stocks also jumped following his post in May on the social platform X, including AMC Entertainment. Gill later disclosed a sizeable stake in the online pet products retailer Chewy, but he sold all of his holdings by late October.
That's how much the U.S. economy grew, at annualized seasonally adjusted rates, in each of the three first quarters of this year. Such growth blew past what many pessimists were expecting when inflation was topping 9% in the summer of 2022. The fear was that the medicine prescribed by the Fed to beat high inflation — high interest rates — would create a recession. Households at the lower end of the income spectrum in particular are feeling pain now, as they contend with still-high prices. But the overall economy has remained remarkably resilient.
This is the vacancy rate for U.S. office buildings — an all-time high — through the first three quarters of 2024, according to data from Moody's. The fact the rate held steady for most of the year was something of a win for office building owners, given that it had marched up steadily from 16.8% in the fourth quarter of 2019. Demand for office space weakened as the pandemic led to the popularization of remote work.
That's the total number of previously occupied homes sold nationally through the first 11 months of 2024. Sales would have to surge 20% year-over-year in December for 2024's home sales to match the 4.09 million existing homes sold in 2023, a nearly 30-year low. The U.S. housing market has been in a sales slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows. A shortage of homes for sale and elevated mortgage rates have discouraged many would-be homebuyers.
FILE - A sign for a Nvidia office building is shown in Santa Clara, Calif., on Aug. 7, 2024. (AP Photo/Jeff Chiu, File)
FILE - The Tesla Cybercab is shown at the AutoMobility LA Auto Show, on Nov. 21, 2024, in Los Angeles. (AP Photo/Jae C. Hong, File)
FILE - Construction workers frame a new single-family home on Dec. 6, 2024, in Owensboro, Ky. (AP Photo/Charlie Riedel)
FILE - People walk past the New York Stock Exchange on Nov. 26 2024. (AP Photo/Peter Morgan, File)