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US Stocks Fluctuate As Investors Weigh Earnings Reports

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12 years ago

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United States stocks fluctuated between gains and losses, after the Standard & Poor’s 500 Index set five successive records, as investors weighed results from companies including Monster Beverage Corporation and News Corporation

News Corporation advanced by 5.4 per cent after saying net income tripled and topped analysts’ estimates. Precision Castparts Corporation jumped by 8.4 per cent for the biggest S&P 500 gain after posting earnings that topped projections.

Bloomberg News reports that Monster Beverage dropped by 6.9 per cent after the chief executive officer said sales growth in April slowed.

The S&P 500 rose by less than 0.1 per cent to 1,632.91 at 2:16 p.m. in New York after declining as much as 0.4 per cent earlier in the day.

The Dow Jones Industrial Average rose by 18.59 points, or 0.1 per cent, to 15,123.71. Trading of S&P 500 stocks was 7.4 per cent below the 30-day average at this time of day. “Aside from a few pullbacks where people take profits, there is still plenty of upside,” Randy Frederick, the Austin-based managing director of active trading and derivatives at Charles Schwab Corp., said by telephone. His firm oversees about $2tn.

“Despite the fact that we’re hitting records every day, there’s no reason to believe this won’t continue for a while. The only thing that can derail this type of a move is some sort of really unexpected news event.”

US stocks rallied on Thursday for a fifth straight day of gains, as companies forecast earnings that beat analysts’ estimates.

The S&P 500 has surged by 14 per cent so far this year amid optimism central banks will continue to use stimulus to support economic growth.

The equity benchmark has entered the fifth year of a bull market, fueled by three rounds of bond purchases from the Federal Reserve.

“It’s been the same, interesting pattern for the last two weeks: We see softness at the opening, but the market firms up by midday,” Arthur Hogan, a strategist at Lazard Capital Markets LLC, said in a telephone interview from Boston.

“There’s been a lack of negative news. The only economic data of substance we’ve gotten was today, and it was the jobless claims data that was positive.”

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Kenyan Runners Dominate Berlin Marathons

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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