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Port Canaveral is set to bathe in the spoils of another record year of cruise traffic with a fiscal budget for 2026 projected to hit nearly $240 million in operating revenue.

More than $200 million of that is from cruise-related income from a record projected 9 million passenger movements, which counts people both when they get on and off a ship, as well as a parking fee increase from $17 to $20.

Overall operating revenue is projected to hit $237.4 million, with operating expenses to hit $159.2 million leaving $78.3 in operating income. After nonoperating revenue and expenses, the port would end the year with a net position of $72.1 million.

“Keep in mind, every dollar that we make here at the port is reinvested back into the port in projects, infrastructure, etc.,” said port chief financial officer Jeff Long.

The budget also includes a proposed $258 million to be spent on capital projects, including $98 million to continue projects begun in 2025 such as redoing the parking garages on the north side of the port. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes drifted lower on Wednesday as a seemingly relentless rally on Wall Street takes at least a pause.

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The S&P 500 slipped 0.3% for a second straight, modest loss. The Dow Jones Industrial Average dropped 171 points, or 0.4%, and the Nasdaq composite fell 0.4%. All three are still near their all-time highs, which were set on Monday.

It’s a slowdown following the U.S. stock market’s blistering run since hitting a low in April, fueled by hopes that President Donald Trump’s tariffs won’t derail global trade and that the Federal Reserve will cut interest rates several times to boost the U.S. economy. The rally was so big that it raised concerns about stock prices shooting too high and becoming too expensive, particularly if the Fed does not deliver as many cuts to rates as traders expect. read more

By WYATTE GRANTHAM-PHILIPS

NEW YORK (AP) — Tariffs and years of teetering mall traffic have roiled much of the toy industry. But Build-A-Bear investors are continuing to reap sizeable gains.

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Shares of Build-A-Bear Workshop are up more than 60% since the start of 2025, trading at just under $72 apiece as of Tuesday afternoon. That compares to just 13% for the S&P 500 since the start of the year, and marks dramatic growth from five years ago, when the St. Louis-based retailer’s stock sat under $3.

The toy industry overall has been “reasonably soft” in recent years, notes Neil Saunders, managing director of GlobalData — but certain categories, including craft-oriented products, have done very well following the height of the COVID-19 pandemic. And that’s key to Build-A-Bear’s core business model: welcoming consumers into their brick-and-mortar stores to make their own plush animals. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach.

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In remarks in Providence, Rhode Island, Powell noted that there are risks to both of the Fed’s goals of seeking maximum employment and stable prices. But with the unemployment rate rising, he noted, the Fed agreed to cut its key rate last week. Yet he did not signal any further cuts on the horizon.

If the Fed were to cut rates “too aggressively,” Powell said, “we could leave the inflation job unfinished and need to reverse course later” and raise rates. But if the Fed keeps its rate too high for too long, “the labor market could soften unnecessarily,” he added. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stock indexes slipped on Tuesday as Wall Street took a pause from its relentless rally.

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The S&P 500 dipped 0.6%. The Dow Jones Industrial Average dropped 88 points, or 0.2%, and the Nasdaq composite sank 0.9%.

It’s the first pullback for the indexes after the trio set all-time highs in each of the last three days. Since surging from a bottom in April, the broad U.S. stock market has been facing criticism that it’s shot too high, too fast and become too expensive. Even the head of the Federal Reserve, Jerome Powell, said on Tuesday that stock prices broadly look “fairly highly valued.” read more