MINNEAPOLIS (AP) — U.S. Rep. Angie Craig on Tuesday became the latest Minnesota Democrat to enter the increasingly competitive race for a U.S. Senate seat currently held by the retiring Sen. Tina Smith.
In her launch video, Craig vows to “break through the chaos” and fight back against “a president trampling our rights and freedoms as he profits for personal gain, and a cowardly Republican Party rolling over and letting it all happen.”
The 53-year-old entered the Senate race after holding town hall meetings last week in all four congressional districts held by Minnesota Republicans, including Majority Whip Tom Emmer, to highlight the differences between Democrats and President Donald Trump and his supporters in Congress.
Smith, a Democrat, announced in February that she would not run again, setting off a scramble in her party for what will be an open seat that could help determine which party controls the Senate after 2026.
Lt. Gov. Peggy Flanagan was first out of the gate and has been actively campaigning across the state. She has already piled up a long list of endorsements, including from Attorney General Keith Ellison, former U.S. Sen. Al Franken and several legislators. She raised over $450,000 in the first quarter.
Former state Sen Melisa López Franzen joined the race in March and is also making appearances statewide. López Franzen has endorsements from several current and former legislators and local officials. She raised more than $260,000 in her first three weeks.
But Craig is in the strongest financial position. Her House campaign raised over $1.2 million in the first quarter, and she can now spend that on the Senate race.
Craig is a former medical device company executive and former newspaper reporter. Craig and her wife, Cheryl, have four adult sons. Craig was targeted with death threats and forced to move after fighting off a mentally disturbed attacker in the elevator of her Washington apartment building in 2023.
She has represented the suburban-to-rural 2nd District south of Minneapolis and St. Paul since unseating Republican Jason Lewis in the 2018 election. While her territory was once considered a swing district, it has trended Democratic in recent years. Running as a centrist, she won reelection by a 13-point margin in 2024. But that district could conceivably become competitive again with her out.
Republicans actively raising money in the Senate race include antiestablishment grassroots candidate Royce White, a former NBA player who lost to U.S. Sen. Amy Klobuchar in 2024, and former congressional candidate Adam Schwarze, a veteran of the Marine Corps and the Iraq War.
FILE - Rep. Angie Craig, D-Minn., speaks during a news conference on Capitol Hill on June 24, 2020, in Washington. (AP Photo/Manuel Balce Ceneta, File)
HONG KONG (AP) — Oil prices surged and Asian shares were lower Friday after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them.
U.S. benchmark crude oil rose by $3.93, or 5.8%, to $71.97 per barrel. Brent crude, the international standard, increased by $3.82 to $73.18 per barrel.
In share trading, Tokyo's Nikkei 225 fell 0.9% to 37,834.25 while the Kospi in Seoul edged 0.9% lower to 2,894.62. Hong Kong's Hang Seng retreated 0.9% to 23,831.48 and the Shanghai Composite Index lost 0.7% to 3,378.76.
Australia's S&P/ASX 200 drifted 0.2% lower to 8,547.40.
“An Israeli attack on Iran poses a top ten of our global risk, but Asian markets are expected to recover quickly as they have relatively limited exposure to the conflict and growing ties to unaffected Saudi Arabia and the UAE,” said Xu Tiachen of The Economist Intelligence.
On Thursday, U.S. stock indexes ticked higher following another encouraging update on inflation across the country.
The S&P 500 rose 0.4% to 6,045.26. The Dow Jones Industrial Average added 0.2% to 42,967.62, and the Nasdaq composite gained 0.2% to 19,662.48.
Oracle jumped 13.3% after reporting stronger profit and revenue for the latest quarter than analysts expected.
That helped markets offset a 4.8% loss for Boeing after an Air India plane crashed Thursday, killing more than 240 people. It was the first crash of a Boeing 787 Dreamliner, and the cause wasn't immediately known.
Stocks broadly got some help from easing Treasury yields in the bond market following the latest update on inflation. Thursday’s update said inflation at the wholesale level wasn’t as bad last month as economists expected, and it followed a report on Wednesday saying something similar about the inflation that U.S. consumers are feeling.
Wall Street took it as a signal that the Federal Reserve will have more leeway to cut interest rates later this year in order to give the economy a boost.
The Federal Reserve has been hesitant to lower interest rates, and it’s been on hold this year after cutting at the end of last year, because it’s waiting to see how much President Donald Trump’s tariffs will hurt the economy and raise inflation. While lower rates can goose the economy by encouraging businesses and households to borrow, they can also accelerate inflation.
The yield on the 10-year Treasury fell to 4.35% from 4.41% late Wednesday and from roughly 4.80% early this year.
Besides the inflation data, a separate report on jobless claims also helped to weigh on Treasury yields. It said slightly more U.S. workers applied for unemployment benefits last week than economists expected, and the total number remained at the highest level in eight months. That could be an indication of a rise in layoffs.
The Fed’s next meeting on interest rates is scheduled for next week, but the nearly unanimous expectation on Wall Street is that it will stand pat again. Traders are betting it’s likely to begin cutting in September, according to data from CME Group.
Trump’s on-and-off tariffs have raised worries about higher inflation and a possible recession, which had sent the S&P 500 roughly 20% below its record a couple months ago. But stocks have since rallied nearly all the way back on hopes that Trump will lower his tariffs after reaching trade deals with other countries.
Many of Trump’s tariffs are on hold at the moment to give time for negotiations, but Trump added to the uncertainty late Wednesday when he suggested the United States could send letters to other countries at some point “saying this is the deal. You can take it or you can leave it.”
In currency trading early Friday, the U.S. dollar gained to 143.70 Japanese yen from 143.46 yen. The euro edged lower, to $1.1537 from $1.1590.
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 13, 2025. (AP Photo/Ahn Young-joon)
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 13, 2025. (AP Photo/Ahn Young-joon)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, June 13, 2025. (AP Photo/Ahn Young-joon)
Specialist Glenn Carell works on the floor of the New York Stock Exchange, Tuesday, June 10, 2025. (AP Photo/Richard Drew)
