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By STAN CHOE, AP Business Writer

NEW YORK (AP) — Stocks on Wall Street rose Thursday ahead of an update on the U.S. job market that could clear the way for cuts to interest rates that investors love.

The S&P 500 rose 0.6% as it clawed back more of its losses since setting an all-time high last week. The Dow Jones Industrial Average was up 328 points, or 0.7%, as of 2:11 p.m. Eastern time, and the Nasdaq composite was 0.6% higher.

Stocks got some lift from easing pressure from the bond market, where Treasury yields fell following reports on the weaker U.S. job market. One report suggested employers, not including the government, nearly halved their hiring last month. Another said that more workers applied for unemployment benefits last week in an indication of rising layoffs.

Neither number is flashing a recession, and a third report on activity for businesses in the information and other services industries showed a stronger-than-expected growth.

The upside for investors of a slowdown in the job market is that it could push the Federal Reserve to consider cutting its main interest rate for the first time this year at its next meeting in a couple weeks. Such cuts can kickstart the economy and job market, though they can also stoke inflation. read more

By DAVID BAUDER, AP Media Writer

NEW YORK (AP) — The conservative news network Newsmax filed an antitrust lawsuit against Fox News on Wednesday, saying Fox has sought to maintain its market dominance through intimidation and exclusionary business practices designed to stifle competition.

Fox has sought to block television distributors from carrying Newsmax or minimize its exposure, pressured guests not to appear on the rival network and hired private detectives to investigate Newsmax executives, said the lawsuit, filed in U.S. District Court in south Florida. Newsmax seeks a jury trial.

Fox, in a statement, said “Newsmax cannot sue their way out of their own competitive failures in the marketplace to chase headlines simply because they can’t attract viewers.”

This is a developing story and will be updated.

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IAAPA Hall of Fame adds Dolly Parton, former Universal exec

Podcasters and influencers: The unexpected jobs covered under Trump’s ‘no tax on tips’ plan read more

Singer Dolly Parton and a former Universal Orlando executive will be among the new entrants to the IAAPA Hall of Fame, the Orlando-based global attractions association announced Wednesday.

Parton was already an international country music star and actress when she bought an interest in the Silver Dollar City attraction in Pigeon Forge, Tennessee, in 1986. As part of the deal, the park was renamed Dollywood.

“Her vision, investment and heart for her community have helped Dollywood grow into a world-class destination that has inspired other operators around the world, creating joy for millions of guests each year,” IAAPA President and CEO Jakob Wahl said in a video announcing the honorees.

Keith James, who had executive roles in the late ’80s and early ’90s at Universal Studios Florida, also will be recognized by IAAPA. At one point, he was the resort’s senior vice president for planning and development in 1990. He subsequently managed production work for Jack Rouse Associates/RWS Global for 30 years. read more

By FATIMA HUSSEIN, Associated Press

WASHINGTON (AP) — Golf caddies, blackjack dealers and house painters are among the jobs covered under the Trump administration’s preliminary list of occupations not required to pay income tax on their tips under Republicans’ new tax cuts and spending bill.

A bit more unexpected? Podcasters and social media influencers will also be excluded from forking over a portion of their tips, according to the list released Tuesday by the Treasury Department.

The provision in the law signed by President Donald Trump in July eliminates federal income taxes on tips for people working in jobs that have traditionally received them. It’s temporary and runs from 2025 until 2028. It applies to people who make less than $160,000 in 2025.

The Yale Budget Lab estimates that there were roughly 4 million workers in tipped occupations in 2023, which amounts to roughly 2.5% of all jobs.

The administration was required to publish a list of qualifying occupations within 90 days of the bill’s signing. The full list of occupations is located on the Treasury Department website. read more

By Madyson Fitzgerald, Stateline.org

This year, comprehensive privacy laws are going into effect in eight states to regulate how businesses handle digital information and to give consumers more protections over their personal data.

The laws in Delaware, Iowa, Minnesota, Nebraska, New Hampshire, New Jersey and Tennessee have taken effect already this year, according to a database from the International Association of Privacy Professionals’ Westin Research Center. Maryland’s privacy law, signed by Democratic Gov. Wes Moore last year, will go into effect Oct. 1.

Privacy laws enacted in Indiana, Kentucky and Rhode Island will go into effect next year.

Several other states are considering comprehensive privacy bills during this year’s legislative sessions. They include Massachusetts, Michigan, North Carolina, Pennsylvania and Wisconsin.

When a person visits a website, applies to a job or logs into an online portal, they may be sharing their personal information. Comprehensive privacy laws can apply to a wide range of companies that participate in this kind of data collection. read more