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AP Business SummaryBrief at 9:50 a.m. EST

Posted 3/4/26

Wall Street holds steadier as oil prices stop spiking, for now at least

NEW YORK (AP) — The U.S. stock market is holding steadier, for now at least, following two days of punishing swings …

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AP Business SummaryBrief at 9:50 a.m. EST

Posted

Wall Street holds steadier as oil prices stop spiking, for now at least

NEW YORK (AP) — The U.S. stock market is holding steadier, for now at least, following two days of punishing swings driven by worries about how high oil prices will go because of the war with Iran. The S&P 500 rose 0.2% Wednesday. The Dow Jones Industrial Average dipped 9 points, and the Nasdaq composite added 0.6%. South Korea’s Kospi stock index plunged 12.1% earlier for its worst day in history. But crude oil prices eased as the day progressed, and the price for a barrel of Brent crude slipped 0.3%. Uncertainty about the war has recently sent financial markets careening up and down hour by hour.

Gasoline and diesel prices spike overnight as anxious drivers fill up tanks

NEW YORK (AP) — The average price for a gallon of gasoline jumped 11 cents overnight in the U.S. And drivers in Europe waited in line to fill their tanks with fuel. This happened as war engulfed the Middle East and shipments of oil and gas were stranded in the Persian Gulf. Gasoline prices are rising as oil prices soar to levels not seen in more than a year. The spikes are happening after the U.S. and Israel attacked Iran and Iran launched a series of retaliatory attacks, including a drone strike on the U.S. Embassy in Saudi Arabia.

Cracks appear in Trump's MAGA base as leading figures criticize the Iran war

NEW YORK (AP) — Some of the sharpest criticism President Donald Trump has faced in the early days of the Iran war has come from once-loyal media figures more accustomed to singing his praises. The conservative media infrastructure has grown so influential and valuable to the Republican president when everything runs smoothly that it's noticeable when there's discontent. Tucker Carlson, Megyn Kelly and Matt Walsh are among the notable figures to express some dismay, much of it centered around the influence of Israel. Walsh has also said the messaging around the war was muddled. Trump says he knows MAGA best and these objections don't reflect the views of his supporters.

The Iran war has upended flights across the Middle East. Here's what travelers should know

NEW YORK (AP) — The U.S. and Israel’s joint war in Iran has already upended travel across the Middle East, stranding tens of thousands of people. And the future is anything but certain. Experts stress that flights scheduled in the coming days and weeks could continue to see disruptions, causing ripple effects globally. Many carriers have been forced to either cancel flights or shift to longer routes. That’s straining operating costs and ticket prices, both of which could become more expensive if airlines have to pay more for fuel the longer the war drags on. Experts recommend postponing unnecessary travel if possible, checking refund or insurance policies and, most importantly, monitoring safety advisories.

Anxious travelers scramble as Iran war strands hundreds of thousands across the Middle East

Travelers are scrambling for ways out of the Middle East as the Iran war keeps much of the region’s airspace closed and flights grounded. The conflict that started Saturday when the U.S. and Israel attacked Iran stranded airline passengers in major Mideast cities as well as in countries far from the threat of airstrikes. With commercial flights tightly restricted across much of the Gulf for a fourth day, many were unsure what to do and appealed to their governments for information and exit strategies. The U.S. State Department said on Tuesday that it was “actively securing” military and charter aircraft to fly Americans out of the region.

Pentagon dispute bolsters Anthropic reputation but raises questions about AI readiness in military

Anthropic’s moral stand on U.S. military use of artificial intelligence is reshaping the competition between leading AI companies but also exposing a growing awareness that maybe chatbots just aren’t capable enough for acts of war. Anthropic’s chatbot, Claude, for the first time outpaced its better-known rival ChatGPT in phone app downloads in the United States this week, a signal of growing interest from consumers siding with Anthropic in its standoff with the Pentagon. But while many military and human rights experts have applauded Amodei for standing up for ethical principles, some are also frustrated by years of AI industry marketing that persuaded the government to apply AI on high-stakes tasks.

China's factory activity contracts for a second month

HONG KONG (AP) — China says its factory activity contracted for a second straight month in February. The weaker data reported Wednesday comes as China holds its annual congress this week. The official manufacturing purchasing managers index, or PMI, slipped to 49 from 49.3 in January. China has been facing a sluggish domestic demand, weighed down by its prolonged real estate sector downturn. On the exports front, however, some economists believe that the U.S. Supreme Court ruling against Trump's reciprocal tariffs, which has led to lower global U.S. tariffs including on China, could provide a boost to China's exports and manufacturing activity for the coming months.

How Trump's anger with Starmer over Iran may rattle the US-UK 'special relationship'

LONDON (AP) — U.K. Prime Minister Keir Starmer is facing criticism over what some say is his undermining of the trans-Atlantic “special relationship." Starmer has drawn the ire of U.S. President Donald Trump over the conflict with Iran. Trump called Britain “uncooperative” and mocked Starmer as “not Winston Churchill” after the British leader initially refused a U.S. request to use U.K. bases to strike Iran. Starmer later said U.S. planes could use bases in England and Diego Garcia for strikes on Iranian missile systems. The British government says Starmer is keeping a “cool head.” But critics say he is weakening the special relationship with the U.S. that has endured since World War II.

Edmunds: These are the new EVs we're most excited about in 2026

Electric vehicles are changing — in range, cost and practicality. This guide highlights five of the most important electric vehicles arriving in 2026. From the long-range luxury BMW iX3 and affordable Chevrolet Bolt to the versatile Rivian R2, compact Slate electric pickup, and adventure-ready Subaru Trailseeker, these EVs represent a maturing market with better range, charging access and real-world usability.

Trial against Meta in New Mexico highlights video depositions by top executives

SANTA FE, N.M. (AP) — New Mexico prosecutors are presenting never-before-seen video depositions of Meta executives at a trial that centers on impacts of the conglomerate's platforms on children. Prosecutors have accused Meta of failing to disclose what it knows about the harmful effects of its platforms, in violation of state consumer protection laws. Depositions from CEO Mark Zuckerberg and Instagram leader Adam Mosseri are centerpieces of the case. The New Mexico case and a separate trial underway in Los Angeles could set the course for thousands of similar lawsuits against social media companies. Meta has highlighted an array of efforts to weed out harmful content from its platforms.

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