A Chinese farm in Xichang, Sichuan Province, breeds six billion adult cockroaches a year for medicinal use, reportedly making it the largest cockroach breeding farm in the world.
Ruptly TV image
Ruptly TV image
"The Periplaneta Americana [American cockroach] has the characteristics of having a butterfly spot and a white neck, which can be used as medicine," said farm chairman Geng Nengfu on Sunday.
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He explained that the cockroaches are kept in the dark below a temperature of 10 degrees celsius (50 fahrenheit).
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"Periplaneta Americana has been used [as medicine] for more than 2,000 years," Nengfu said.
Ruptly TV image
Ruptly TV image
"Kangfuxin Liquid and Periplaneta Americana extract and separated products are very effective for diseases and can play a therapeutic role," he stated.
According to local media, this is the first time in history that so many of these insects have been bred and confined to the same indoor space.
NEW YORK (AP) — U.S. stocks largely held in place on Tuesday as Wall Street waits to hear what the Federal Reserve will say Wednesday about where interest rates are heading.
The S&P 500 edged down by 0.1% and remained near its all-time high set in October. The Dow Jones Industrial Average dipped 179 points, or 0.4%, and the Nasdaq composite added 0.1%.
JPMorgan Chase was the heaviest weight on the market after a top executive, Marianne Lake, said the bank’s expenses could rise to $105 billion next year.
That would be up 9% from an estimated $95.9 billion in expenses this year, though Lake also said JPMorgan Chase is “feeling pretty good about the underlying financial health of the borrowers in our portfolio.” Its stock fell 4.7%.
Another drop came from Toll Brothers, which lost 2.4% after the homebuilder reported weaker results for the latest quarter than analysts expected.
CEO Douglas Yearley Jr. said demand for new homes remains soft across many markets, and he talked about “affordability pressures” that could be affecting potential homebuyers.
One big factor in that affordability question is mortgage rates. They’re cheaper than they were at the start of the year, though they perked up a bit after October. That’s largely because of questions in the bond market about how much more the Federal Reserve will cut its main interest rate.
The widespread expectation is that the Fed will cut interest rates Wednesday afternoon, which would be the third such easing of the year. Lower interest rates can give the economy and prices for investments a boost, though the downside is they can worsen inflation.
The U.S. stock market has run to the edge of its records in part because of the growing assumption that the Fed will cut rates again on Wednesday.
The big question is what the Fed will say about where interest rates will go after that. Many on Wall Street are bracing for talk aimed at tamping down expectations for more cuts in 2026.
Inflation has stubbornly remained above the Fed’s 2% target, and Fed officials are notably split in their opinions about whether high inflation or the slowing job market is the bigger threat to the economy.
Treasury yields climbed in the bond market after a report on Tuesday showed that U.S. employers were advertising 7.7 million job openings at the end of October. That’s up a smidgen from the month before and the highest number since May.
If the job market is not worsening, it may not need as much help from the Fed through more cuts to rates.
After the report on job openings came out, the yield on the 10-year Treasury erased what had been an earlier dip and rose to 4.18% from 4.17% late Monday.
The yield on the two-year Treasury, which moves more closely with expectations for what the Fed will do, rose to 3.60% from 3.57% late Monday.
Elsewhere on Wall Street, Exxon Mobil climbed 2% after increasing its forecast for profit over the next five years, thanks in part to strength for its fields in the Permian basin in the United States and off Guyana’s shore.
Ares Management rallied 7.3% after S&P Dow Jones Indices said the investment company will join its widely followed S&P 500 index. It will replace Kellanova, the maker of Pringles and Pop-Tarts, which is being bought by Mars, the company behind Snickers and M&Ms.
CVS Health rose 2.2% after unveiling new financial forecasts, including expectations for annual compounded growth in earnings per share at a “mid-teens” percentage over the next three years.
Home Depot fell 1.3% after flipping between gains and losses. It gave a preliminary forecast for 2026 that said the broad home improvement market may shrink by up to 1%. But it also gave a separate set of forecasts saying its earnings per share could grow in the mid- to high-single digit percentages if the housing market recovers.
The market’s most influential stock, Nvidia, slipped 0.3% after President Donald Trump allowed it to sell an advanced chip used in artificial-intelligence technology to “approved customers” in China. The H200 is not Nvidia’s top product.
All told, the S&P 500 fell 6.00 points to 6,840.51. The Dow Jones Industrial Average dipped 179.03 to 47,650.29, and the Nasdaq composite rose 30.58 to 23,576.49.
In stock markets abroad, indexes were mixed Europe and Asia.
Indexes fell 1.3% in Hong Kong and 0.7% in Paris for two of the world’s bigger moves.
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, Dec. 8, 2025. (AP Photo/Ahn Young-joon)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Dec. 9, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei and New York Dow indexes at a securities firm Tuesday, Dec. 9, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Dec. 9, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
A person walks in front of an electronic stock board at a securities firm Tuesday, Dec. 9, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)
