U.S. stocks rallied on Tuesday, kicking off a shortened trading week amid hopes that a hard-won cap-and-trade deal could get through a divided Congress within days.

The S&P 500 (^GSPC) rose 0.15%, while the tech-heavy Nasdaq Composite (^IXIC) gained 0.65%. The Dow Jones Industrial Average (^DJI) was down 0.40% at 12:03 pm ET.

U.S. bond yields lost ground as investors weighed the potential impact of a debt ceiling deal. The yield on the benchmark 10-year Treasury fell to 3.7%. The two-year note yield fell to 4.49% and the 30-year bond fell to 3.89%.

Investors are now watching the debt ceiling deal pass its next critical hurdle, so it can be passed by lawmakers and avoid a damaging default.

President Joe Biden and House Speaker Kevin McCarthy reached a tentative agreement on Sunday to raise the debt ceiling and budget. The deal came after weeks of negotiations, with slow progress roiling markets.

However, the deal faces an initial test Tuesday in the House Rules Committee, which is scheduled to consider the bill before an expected vote in the House on Wednesday, and before it heads to the Senate.

The administration has warned that Congress must raise the debt ceiling by June 5, the so-called “X-date,” or risk pushing the U.S. into the first default in its history.

Even as the clock ticks, Wall Street is playing the waiting game.

“There’s not much room for error, but if moderates on both sides appear to be in line, a minority on both sides could be vocal against the deal and it still passes,” Jim Reid and colleagues at Deutsche Bank wrote to clients Tuesday morning. “We’ll see how lawmakers react when they come back from the holiday weekend.”

Meanwhile, the main economic release of the week is the US jobs report for May due out on Friday. Economists polled by Bloomberg expected monthly payrolls to fall to 180,000 from 253,000 in April. The unemployment rate is slightly higher at 3.5%.

The story continues

The jobs report will be scrutinized in the coming weeks for clues as to whether the Federal Reserve will raise interest rates at its next meeting of policymakers on June 13-14. Markets are pricing in a 25 basis point rate hike by July after data last week showed US consumer inflation rose in April.

On the housing front, US home prices rose again month-on-month. The S&P CoreLogic Case-Shiller US National Home Price Index rose 0.4% in March from a month earlier, according to data released Tuesday. It was the second straight gain after seven straight months of price declines.

Separately, consumer confidence fell to a six-month low of 102.3 in May as Americans remain uncertain about the economy. The index fell 1.4 points from a revised 103.7 in the previous month, Conference Board said on Tuesday.

Elsewhere, shares of Nvidia Corp. ( NVDA ) rallied more than 5% to hit a $1 trillion market cap at the open on Tuesday, the day before CEO Jensen Huang unveiled new AI-related products and services.

Palantir Technologies Inc. gained more than 8% on Tuesday. Other AI-linked stocks rose, including shares of ( PLTR ). Advanced Micro Devices, Inc. (AMD) shares fell, while C3.ai Inc. ( AI ) shares gained more than 17%.

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Danny Romero is a Yahoo Finance reporter. Follow her on Twitter @daniromerotv

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I have had an emotional connection to Street Fighter since I was 13 years old.

It was early March 1991, and my friend and I were celebrating his 14th birthday in Santa Cruz, California, and spent as much of our weekend as possible at the Boardwalk Arcade. His mom gave us each a $20 bill for the changing machine, and we were determined to stretch out our rooms as much as we could.

Scrolling brawlers like Teenage Mutant Ninja Turtles And The final fight were our favorite games. We loved Squares, which I consider to be the first real fighting game without a button. Robotron-style, dual joystick Karate champion.

When we arrived a Street Fighter II: World Warrior Sitting in the middle of the carriage arcade, we stopped dead in our tracks. From the six buttons per player to the large dynamic sprites and backgrounds, everything about it felt larger than life to our teenage brains.

As we stood there mesmerized and a little scared by the machine, the floor manager arrived with some guests. He said to his guest, “We just got this game. I think it’s going to be big.” Ah, yes.

Street Fighter II was an event. That lone game in the middle of the arcade floors would proliferate in rows, lines stretching behind each one, waiting for people to put their quarter in the mirror to “get the next one.” It seemed like everyone was playing it, and when home console ports hit (we were SNES players), that was even more true.

Over time, the excitement faded. I left for college, got married, started a family and a career, and lost touch with the friends I played with. Arcades have mostly died or become shells of their former selves. But I never lost my love for Street Fighter, even though my time with it was mostly occupied with MAME.

Author, circa 2022, in front of the arcade where he first played Street Fighter In 1991. Not quite the same, but it still stands!

Kerryon Lawson

After nearly two decades of losing that strong connection to fighting games, I rekindled my passion. I took Street Fighter 4Then I became somewhat serious Street Fighter 5 player. I was playing online, playing with friends locally, and started traveling occasionally for tournaments.

I sold most of my pinball machines (once an arcade mouse, always an arcade mouse) and started collecting Japanese “candy cabinet” arcade machines. I now have four Sega Astro Cities, two Taito Vewlixes, a Konami Windy and a Neo Candy 29 mostly dedicated to fighting games. I started playing titles that I had missed during my hiatus Street Fighter III: Third Strike. My friends and I still sport our favorite flavor Street Fighter II, also, Super Turbo (or as we call it, ST)

Longtime fighting game competitor, commentator and now voice in a game Street Fighter 6 James Chen Flashes a Peace Sign in My Garage in 2023

Arich Lawson

Sixth time’s the charm

As I get older, I love sharing my hobbies as much as I enjoy them. Fighting games aren’t just fun to play and watch; They are part of a vibrant and diverse community. I wish more people could enjoy them.

They now have a reputation for being too complicated Street Fighter II Days—they can be very scary and difficult to learn. No one wants to buy a new game, only to hop online and have it destroyed by someone who has been playing it for years.

Enter Street Fighter 6.

The Coast Guard is searching for four people missing after a luxury charter fishing boat capsized off the coast of Alaska.

According to the Coast Guard, rescue crews found a dead man near a partially submerged vessel near a small island near Sitka, Alaska.

Sitka-based Kingfisher Charters reported the missing vessel to the Coast Guard on Sunday evening. According to the Coast Guard, the vessel was last seen Sunday afternoon near Cruisoff Island, less than 10 miles from the small rocky island where the vessel was found.

“We’re working quickly to locate the unaccounted for,” Coast Guard Command Duty Officer Trevor Layman said, citing several “unaccounted for” people involved in the search.

Kingfisher Charters According to the company’s website, it offers all-inclusive fishing packages and operates guided trips on 30-foot power boats.

The Coast Guard did not immediately provide information about the missing fishermen.

Kingfisher Charters did not immediately respond to ABC News’ request for comment.

The Sitka Fire Department and nearby private vessels are assisting the Coast Guard in search efforts. The Sitka Fire Department referred all questions regarding the search to the Coast Guard.

Sitka often attracts anglers from across the United States for its king salmon and halibut fishing, both of which are currently in season. Located on Alaska’s Southeast Panhandle, Sitka has more than 8,000 residents across Baranof Island, according to the most recent census.

ABC News’ Jenna Harrison contributed to this report.

WARSAW, May 29 (Reuters) – Poland’s president said on Monday he would sign a bill allowing a committee to investigate whether the opposition Civic Platform (PO) party has allowed the country to become unduly dependent on Russia. fuel while in power.

The liberal PO, in government from 2007 to 2015, rejects the claims and says it is designed to destroy support for its leader and former prime minister, Donald Tusk, ahead of elections scheduled for October or November.

President Andrzej Duda said he would sign the bill because he believed it “must come into force,” but also said he would ask the Constitutional Tribunal to examine criticism that the law is unconstitutional.

The bill would set up a commission of inquiry that could issue an initial report in September. Opposition figures have nicknamed it Lex Tusk, using the Latin word for law.

“In a normal democratic country, someone who is the president of that country would not sign such a Stalin-esque law,” PO lawmaker Marcin Gierwinski told private broadcaster TVN 24.

Concerns

Polish judges’ association Iustitia said the law violates EU values ​​and could trigger punitive measures by the EU over democratic backsliding in Poland. US Ambassador to Poland Mark Brzezinski also expressed concern.

“The U.S. government shares concerns about laws that expressly reduce the ability of voters who want to vote, outside of a clearly defined process in an independent court,” he told private broadcaster TVN24 BiS.

Recent polls show that BIS still enjoys high support among political parties – more than 30% – but it may not win enough votes to form a majority in parliament.

The parliamentary commission will investigate the 2007-2022 period and the power to ban those who acted under Russian influence from obtaining security clearances or serving in roles responsible for public finances for 10 years, disqualifying them from public office. .

Before Russia invaded Ukraine in February 2022, Poland’s dependence on Russian energy had gradually decreased.

Construction of a liquefied natural gas (LNG) import terminal to allow non-Russian gas imports began during Tusk’s tenure.

During Tusk’s tenure, Poland signed an agreement with Russia’s Gazprom in 2010, the bill’s official justification notes.

Top state-controlled refiner PKN Orlen ( PKN.WA ) said last month it would use Russian fuel at its Czech refineries after terminating its contract with Russia’s Tatneft in February.

Reporting by Alan Charlish, Anna Wlodarczak-Czemchuk, Anna Gober and Marek Strelecki; Editing by Robert Birsal, Barbara Lewis and Gareth Jones

Our Standards: Thomson Reuters Trust Principles.

Kyle Kirkwood, the top driver, overturned after crashing in the second turn during Sunday’s Indianapolis 500 auto race at Indianapolis Motor Speedway.

John Maxwell/AP

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Kyle Kirkwood, the top driver, overturned after crashing in the second turn during Sunday’s Indianapolis 500 auto race at Indianapolis Motor Speedway.

John Maxwell/AP

During Sunday’s Indianapolis 500, a multi-car crash left fans worried, creating a heart-stopping moment in one of America’s most important races.

Video Posted on social media Shows driver Felix Rosenqvist crashing into Kyle Kirkwood. During the crash, one of Kirkwood’s tires breaks and launches him into the air and over the fence separating the track from the grandstand.

The tire missed the seats filled with spectators and landed on a parked car. ESPN reported. No injuries were reported to drivers or fans.

After the tire flew, Kirkwood’s car crashed into a wall. flipped over And the sparks flew and slid down the track.

“Good for everyone, just disappointed. We thought we could win today,” he said said in a tweet.

Auto racing is the most popular sport in America, but it doesn’t come without danger for drivers, crews and fans.

At the 1987 Indy 500, a fan named Lyle Kurtenbach was killed in a crash when one of the cars broke a tire, flew into the stands and hit him. As stated therein Indianapolis Star. Kurtenbach, 41, was celebrating a family reunion.

The track’s retaining fence was later raised from 15 feet to 19 feet, eight inches, the newspaper reported.

Over the years, there have been auto racing fans were injured And in rare cases were killed When crash debris lands in spectator areas.

In the early 1970s, the US Auto Club was the sanctioning body for the Indy 500. Made changes To improve driver safety after multiple fatalities on the road, such as reducing the size of a car’s gas tank.

House Democratic Leader Hakeem Jeffries said in a letter Sunday that President Joe Biden and Speaker Kevin McCarthy will talk this afternoon to finalize a debt ceiling deal, and then a legislative bill will be released by Republicans.

Negotiators on Saturday night reached an agreement in principle to extend the debt ceiling and prevent a catastrophic default. The legislative text of the bill was drafted by Republicans and will be reviewed by the Biden administration before it is finalized, Jeffries, DNY, wrote in a letter to Democrats.

Biden and McCarthy, R-Calif., are expected to speak after 2 p.m., and “soon the text of the legislative bill will be released by House Republicans and available to the House, Senate and the American people,” Jeffries wrote. He added that top members of the Biden administration are also scheduled to brief the House Democratic Caucus on the deal at 5 p.m.

“It is my expectation that over the next few days, ahead of any midweek vote planned by House Republicans, there will be several opportunities to review and discuss the legislation with the Biden administration,” Jeffries wrote.

During a press conference Sunday morning, McCarthy said he and Biden would discuss the bill’s language during their call later that afternoon to “make sure both sides agree.”

He also said the bill’s legislative text will be about 150 pages or less, that 95% of GOP lawmakers are “very excited” about the deal, and that he thinks it will have the support of most congressional leaders.

“It’s going to be a transition where Congress is going to vote to spend less money this year than they spent last year,” McCarthy said.

The tentative deal, expected to boost the nation’s borrowing power in exchange for spending cuts, was struck after weeks of negotiations led by Biden and McCarthy. Once the legislative language is finalized, it must pass both the GOP-led House and the Democratic-controlled Senate.

A source familiar with the deal told NBC News it includes a two-year appropriations deal and a two-year extension of the debt ceiling, effectively resolving the issue after the 2024 election. These include work requirements to qualify for federal assistance under the Supplemental Nutrition Assistance Program, or SNAP, for Americans up to age 54, excluding the homeless and veterans. But “there will be no change to medical aid,” the source said.

Asked if he had spoken with Senate leaders, McCarthy said at his press conference Sunday that he did not speak with Senate Majority Leader Chuck Schumer, D-N.Y., but he did speak with Senate Minority Leader Mitch McConnell, R-Ky. “Hold him” deal on Saturday night.

McCarthy said he plans to talk to Senate Republicans about the deal in a conference call later Sunday.

The House Republican Conference on Saturday night began distributing a fact sheet on the deal to its members and their offices, calling the deal the “Fiscal Responsibility Act.”

“Republicans will restore fiscal sanity and hold Washington accountable,” the memo says.

Last week, Treasury Secretary Janet Yellen extended the deadline to June 5 to act or risk breaching the debt ceiling. He had previously been less specific, saying “the US will run out of money before June 1”.

The department reached its statutory debt ceiling in January and is using “extraordinary measures” to pay the country’s bills.

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NEW YORK — When a Target distributor approached Eric Cornell last year about putting his brand of apparel in Target stores,, He was thrilled.

Cornell told CNN it was “the biggest opportunity of my career.” “I was thrilled with the idea of ​​being able to share my products with a whole new market.” London-based Abralan, described on its Instagram page as “proud, loud and colorful art and accessories,” has gone from a small start-up to a brand available at a major US retailer.

In the months that followed, Cornell picked up Target and came up with designs that fit the big-box store, she said. Eventually, Target started selling Three ricochet items For adults: a sweatshirt, a tote bag and a messenger bag, each emblazoned with a different phrase.

But then things fell apart. About a week and a half ago, Cornell said, she began receiving hundreds of hate messages, including death threats, some of which falsely claimed the collection was marketed to children, some of which lashed out at Target over its proud offerings.

By Wednesday, Target had pulled Abralon products from its U.S. stores and online marketplace, Reuters reported.

“Since launching this year’s collection, we have experienced threats affecting the safety and well-being of our team members while at work.” Laxhivan said in a statement This year is all about pride collection.

“Given these volatile circumstances, we are making changes to our plans, including removing items at the center of the most significant conflict behavior,” Target said.

Cornell’s immediate reaction was relief.

“The amount of backlash I got was overwhelming,” he said. “I believe this is the end of the news and the beginning of the attack that I will receive.”

But for a smaller brand, losing Target’s massive reach is a blow.

“When all of this dies down, I will be incredibly disappointed that such a great opportunity has been taken away from me.”

But Cornell understands Target’s decision.

“I don’t know what else can be done to protect retail employees other than pull it,” he said. “Their safety must be absolutely paramount.”

However, Cornell was disappointed that Target did not communicate more with him about the decision. Although he heard from a distributor he works with, he has not received any information from the corporate office, he said.

Target did not immediately respond to a request for comment for this story.

A labor of love

Abralon was born from Cornell’s drawing and desire to connect with his queer community.

“I made two needles six years ago and it has since grown,” he said. For Cornell, work is personal.

“I take what I do incredibly seriously,” he said. “I owe it to my younger self, who was so lost and in so much pain. … I owe it to him to make things that he can be proud of, things that tell him there’s nothing wrong with who he is. Who he is is amazing,” he said.

Apparel sells shirts, elaborate pins and other accessories that combine pastel blues, pinks and purples with skulls, skeletons and UFOs. The images are paired with various phrases, “Transphobia sucks“and”A gay icon.” Some are in direct conversation with specific incidents, such as “Witches and wizards love transsexuals,” in response to Harry Potter author JK Rowling’s scathing comments about trans people.

But one design caused a stir online.

Cheers

The backlash against Cornell and Abralan has largely centered around the design, which claims that “Satan respects pronouns.” Online, an anti-LGBTQ campaign urged Target to boycott, showing images of the phrase on an Abralen T-shirt. On TikTok, a video has gone viral showing an employee being asked if he supports a “satanic pride campaign”. Cornell has been called a Satanist in the right-wing press.

That particular design is not available at Target.

In early conversations, the retailer told Cornell that “Satan respects pronouns,” and that the design might not be a good fit. Designs that ended up being sold were more neutral in tone, including “Cure transphobia, not trans people,” “We’re everywhere,” and “It’s so queer here.”

However, Cornell wasn’t surprised when the partnership backfired (though he didn’t expect it to be this bad).

“I’m not naive. I’m well aware that negativity will be thrown my way,” he said. “I understand that people are incredibly emotional with their hatred of LGBT people. The current political climate suggests that those people are right to feel that way,” he said.

On Twitter, Right-wing commentator Matt Walsh elaborated Target campaign beyond Abprallen or Carnell. “The goal is to detoxify ‘pride’ for brands,” he said. “If they decide to shove this garbage in our faces, they should know they’ll pay a price. Whatever they think they’ll get out of it won’t be worth it.”

Before Target, Cornell operated Aprallan itself, selling Aprallan products online and in some marketplaces and to some wholesale customers, he said.

A silver lining of attention is a spike in support, finances and emotion. Abralen’s site received so many orders that he temporarily closed the virtual store to catch up.

“I’ve been overwhelmed with support,” she said, including “so many beautiful, compassionate, loving messages.” “When I’m in a better head space, I know how much of a positive impact it has on me.”

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