Wall Street rises to more records

NEW YORK (AP) — U.S. stocks rose to more records on Tuesday after the latest update on the job market bolstered Wall Street’s hopes for a slowdown that’s deep enough to get the Federal Reserve to cut interest rates, but not so overwhelming that it causes a recession.

The S&P 500 rose 0.3% and squeaked past its all-time high set last week. The Dow Jones Industrial Average climbed 196 points, or 0.4%, while the Nasdaq composite gained 0.4%. They likewise set records.

Traders have become convinced that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in a week to prop up the slowing job market. A report on Tuesday offered the latest signal of weakness, when the U.S. government said its prior count of jobs across the country through March may have been too high by 911,000, or 0.6%.

That was before President Donald Trump shocked the economy and financial markets in April by rolling out tariffs on countries worldwide.

The bet on Wall Street is that such data will convince Fed officials that the job market is the bigger problem now for the economy than the threat of inflation worsening because of Trump’s tariffs. That would push them to cut interest rates, a move that would give the economy a boost but could also send inflation higher.

A lot is riding on Wall Street’s hope that the job market is slowing by just the right amount: Investors have already sent U.S. stock prices to records because of it. Inflation also needs to stay at a reasonable level, even though it looks tough to get below the Fed’s target of 2%.

Traders are unanimously expecting a rate cut next week, but they pared their forecasts for a deeper-than-usual reduction following Tuesday’s revision for U.S. job growth. That caused a slight recovery for Treasury yields following their sharp recent slide.

“The more likely course is for the Fed to deliver an October and December cut rather than trying to deliver a catchup cut in September,” said Brian Jacobsen, chief economist at Annex Wealth Management.

Coming reports on inflation due on Wednesday and Thursday could alter expectations further. Hotter-than-expected readings could put the Fed in a worst-case scenario and make a series of cuts to rates less palatable.

On Wall Street, UnitedHealth Group climbed 8.6% after saying its executives plan to tell investors and analysts that it’s sticking with its profit forecast for 2025. That helped it trim its loss for the year so far, which came into the day at 36.7%, as insurers across the industry have contended with soaring medical costs.

Nebius Group, a Dutch company working in artificial-intelligence infrastructure, saw its stock that trades in the United States soar 49.4% after announcing a contract to deliver GPU services to Microsoft. The contract could be worth between $17.4 billion and $19.4 billion, and it runs through 2031.

Fox dropped 6.1% after Rupert Murdoch’s family said they’ve reached a deal on control of the 94-year-old mogul’s media empire after his death. The agreement ensures that there will be no change in direction at Fox News, the most popular network for President Donald Trump and conservatives.

The deal creates a trust establishing control of the Fox Corp. for Lachlan Murdoch, Rupert’s chosen heir who has been running Fox in recent years, along with his younger sisters, Grace and Chloe.

Apple slipped 1.5% after unveiling its next generation of iPhones.

All told, the S&P 500 rose 17.46 points to 6,512.61. The Dow Jones Industrial Average added 196.39 to 45,711.34, and the Nasdaq composite climbed 80.79 to 21,879.49.

In stock markets abroad, France’s CAC 40 rose 0.2% as the market remained relatively calm even though its government is facing a crisis of confidence after legislators voted to oust another prime minister. It and other governments around the world, including the United States, are facing increased scrutiny on how they plan to pay for their spending.

Indexes were mixed across the rest of Europe and in Asia.

Japan’s Nikkei 225 erased early gains to finish 0.4% lower as political uncertainty continued after Prime Minister Shigeru Ishiba said over the weekend that he planned to step down. Who will replace him is still uncertain and may take weeks to decide.

In the bond market, the yield on the 10-year Treasury rose to 4.08% from 4.05% late Monday.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

Traders Robert Charmak, left, Thomas Lee, right, and Ben Tuchman, background left, work with specialist James Denaro on the floor of the New York Stock Exchange, Friday, Sept. 5, 2025. (AP Photo/Richard Drew)

Options trader Matthew Hefter works on the floor of the New York Stock Exchange, Friday, Sept. 5, 2025. (AP Photo/Richard Drew)

A woman stands near stock prices displayed on an electronic board at the Indonesia Stock Exchange in Jakarta, Indonesia, Tuesday, Sept. 9, 2025.(AP Photo/Tatan Syuflana)

A man watches stock prices displayed on an electronic board at the Indonesia Stock Exchange in Jakarta, Indonesia, Tuesday, Sept. 9, 2025.(AP Photo/Tatan Syuflana)

Employees of a foreign exchange dealing company sit under an electronic board showing the stock index of Japan's Nikkei 225, in Tokyo Tuesday, Sept. 9, 2025, in Tokyo. (Kyodo News via AP)

People walks past an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Sept. 9, 2025, in Tokyo. (Kyodo News via AP)

People move past an electronic stock board showing Japan's Nikkei index at a securities firm Tuesday, Sept. 9, 2025, in Tokyo. (Kyodo News via AP)

HAMIMA, Syria (AP) — A trickle of civilians left a contested area east of Aleppo on Thursday after a warning by the Syrian military to evacuate ahead of an anticipated government military offensive against Kurdish-led forces.

Government officials and some residents who managed to get out said the Kurdish-led Syrian Democratic Forces prevented people from leaving via the corridor designated by the military along the main road leading west from the town of Maskana through Deir Hafer to the town of Hamima.

The SDF denied the reports that they were blocking the evacuation.

In Hamima, ambulances and government officials were gathered beginning early in the morning waiting to receive the evacuees and take them to shelters, but few arrived.

Farhat Khorto, a member of the executive office of Aleppo Governorate who was waiting there, claimed that there were "nearly two hundred civilian cars and hundreds of people who wanted to leave” the Deir Hafer area but that they were prevented by the SDF. He said the SDF was warning residents they could face “sniping operations or booby-trapped explosives” along that route.

Some families said they got out of the evacuation zone by taking back roads or going part of the distance on foot.

“We tried to leave this morning, but the SDF prevented us. So we left on foot … we walked about seven to eight kilometers until we hit the main road, and there the civil defense took us and things were good then,” said Saleh al-Othman, who said he fled Deir Hafer with more than 50 relatives.

Yasser al-Hasno, also from Deir Hafer, said he and his family left via back roads because the main routes were closed and finally crossed a small river on foot to get out of the evacuation area.

Another Deir Hafer resident who crossed the river on foot, Ahmad al-Ali, said, “We only made it here by bribing people. They still have not allowed a single person to go through the main crossing."

Farhad Shami, a spokesman for the SDF, said the allegations that the group had prevented civilians from leaving were “baseless.” He suggested that government shelling was deterring residents from moving.

The SDF later issued a statement also denying that it had blocked civilians from fleeing. It said that “any displacement of civilians under threat of force by Damascus constitutes a war crime" and called on the international community to condemn it.

“Today, the people of Deir Hafer have demonstrated their unwavering commitment to their land and homes, and no party can deprive them of their right to remain there under military pressure,” it said.

The Syrian army’s announcement late Wednesday — which said civilians would be able to evacuate through the “humanitarian corridor” from 9 a.m. to 5 p.m. Thursday — appeared to signal plans for an offensive against the SDF in the area east of Aleppo. Already there have been limited exchanges of fire between the two sides.

Thursday evening, the military said it would extend the humanitarian corridor for another day.

The Syrian military called on the SDF and other armed groups to withdraw to the other side of the Euphrates River, to the east of the contested zone. The SDF controls large swaths of northeastern Syria east of the river.

The tensions in the Deir Hafer area come after several days of intense clashes last week in Aleppo city that ended with the evacuation of Kurdish fighters and government forces taking control of three contested neighborhoods.

The fighting broke out as negotiations have stalled between Damascus and the SDF over an agreement reached last March to integrate their forces and for the central government to take control of institutions including border crossings and oil fields in the northeast.

Some of the factions that make up the new Syrian army, which was formed after the fall of former President Bashar Assad in a rebel offensive in December 2024, were previously Turkey-backed insurgent groups that have a long history of clashing with Kurdish forces.

The SDF for years has been the main U.S. partner in Syria in fighting against the Islamic State group, but Turkey considers the SDF a terrorist organization because of its association with Kurdish separatist insurgents in Turkey.

Despite the long-running U.S. support for the SDF, the Trump administration has also developed close ties with the government of interim Syrian President Ahmad al-Sharaa and has so far avoided publicly taking sides in the clashes in Aleppo.

Ilham Ahmed, head of foreign relations for the SDF-affiliated Kurdish-led administration in northeast Syria, at a press conference Thursday said SDF officials were in contact with the United States and Turkey and had presented several initiatives for de-escalation. She said that claims by Damascus that the SDF had failed to implement the March agreement were false.

——

Associated Press journalist Hogir Al Abdo in Qamishli, Syria, contributed.

Members of the Syrian military police stand at a humanitarian crossing declared by the Syrian army in the village of Hamima, in the eastern Aleppo countryside, near the front line with the Kurdish-led Syrian Democratic Forces in Deir Hafer, Syria, Thursday, Jan. 15, 2026. (AP Photo/Ghaith Alsayed)

Members of the Syrian Civil Defense, stand next to their vehicles at a humanitarian crossing declared by the Syrian army in the village of Hamima, in the eastern Aleppo countryside, near the front line with the Kurdish-led Syrian Democratic Forces in Deir Hafer, Syria, Thursday, Jan. 15, 2026. (AP Photo/Ghaith Alsayed)

A displaced Syrian family rides in the back of a truck near a humanitarian crossing declared by the Syrian army next to a river in the village of Rasm Al-Abboud, in the eastern Aleppo countryside, near the front line with the Kurdish-led Syrian Democratic Forces in Deir Hafer, Syria, Thursday, Jan. 15, 2026. (AP Photo/Omar Albam)

Displaced Syrian children and women ride in the back of a truck near a humanitarian crossing declared by the Syrian army in the village of Hamima, in the eastern Aleppo countryside, near the front line with the Kurdish-led Syrian Democratic Forces in Deir Hafer, Syria, Thursday, Jan. 15, 2026. (AP Photo/Omar Albam)

Displaced Syrians at a river crossing near the village of Jarirat al Imam, in the eastern Aleppo countryside, near the front line with the Kurdish-led Syrian Democratic Forces in Deir Hafer, Syria, Thursday, Jan. 15, 2026. (AP Photo/Omar Albam)