Passenger bus plunges into a ravine in southern Peru killing at least 37

LIMA, Peru (AP) — A passenger bus fell into a deep ravine early Wednesday after crashing with another vehicle in southern Peru, killing at least 37 people and injuring 13 more, authorities said.

The health manager of the Arequipa region, Walther Oporto, said to local radio RPP that the bus hit a pickup truck and it went off a road on a curve, falling more than 200 meters (more than 650 feet) to the banks of the Ocoña river.

The bus had departed from the city of Chala, a mining area also in southern Peru, and was heading to the city of Arequipa.

Fatal bus accidents are not uncommon in Peru. The cause of Wednesday's accident was not clear, but authorities have said in the past that reckless driving and excessive speed are behind many of these events.

In August, a bus overturned on a highway and 10 people died. In July, another bus traveling from Lima to Peru’s Amazon region also overturned, leaving at least 18 people dead and 48 injured.

In January at least six people died and 32 were injured when a bus fell into a river.

In 2024 there were approximately 3,173 deaths as a result of traffic accidents in the South American country, according to official data from the Death Information System.

Follow AP’s coverage of Latin America and the Caribbean at https://apnews.com/hub/latin-america

A man walks by a passenger bus after its deadly crash with another vehicle in Arequipa, Peru, Wednesday, Nov. 12, 2025. (AP Photo/Kiara Tapia)

A man walks by a passenger bus after its deadly crash with another vehicle in Arequipa, Peru, Wednesday, Nov. 12, 2025. (AP Photo/Kiara Tapia)

A man inspects a vehicle after its deadly crash with a passenger bus in Arequipa, Peru, Wednesday, Nov. 12, 2025. (AP Photo/ Kiara Tapia)

People walk by a passenger bus after its deadly crash with another vehicle in Arequipa, Peru, Wednesday, Nov. 12, 2025. (AP Photo/Kiara Tapia)

NEW YORK (AP) — Stocks rose in afternoon trading on Wall Street Friday and further trimmed losses from earlier in the week for several major indexes.

The S&P 500 jumped 0.9%, adding to gains made on Thursday. The index is now on track for weekly gains.

The Dow Jones Industrial Average rose 285 points, or 0.6%, as of 12:30 p.m. Eastern. The Nasdaq jumped 1.2% and is now also on track for weekly gains.

Technology stocks with a focus on artificial intelligence once again led the market. Nvidia jumped 3.6% and Broadcom rose 1.6%.

Oracle rose 7.7% on news that it, along with two other investors, had signed agreements to form a new TikTok U.S. joint ventur e. Oracle, Silver Lake and MGX each get a 15% share in the popular social video platform, ensuring that it can continue operating in the U.S.

Company earnings and how companies are performing amid tariffs and inflation were a key focus for Wall Street.

Nike slumped 10.2%, as the impact from tariffs overshadowed an otherwise strong quarterly profit report. Frozen potato maker Lamb Weston fell 24.7%, despite also beating Wall Street's profit and revenue forecasts.

Winnebago Industries jumped 10.6% after turning in profits and revenue for its latest quarter that easily beat analysts’ estimates.

Homebuilders dropped following a report showing that home sales slowed from a year earlier for the first time since May. Lennar lost 1.9% and KB Home fell 9.6%.

A survey from the University of Michigan showed that consumer sentiment in December improved slightly from November, but is deeply diminished from a year ago.

“Despite some signs of improvement to close out the year, sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” wrote Surveys of Consumers Director, Joanne Hsu.

Consumer confidence has been weakening throughout the year as persistent inflation squeezes consumers. The job market is also slowing while retail sales weaken. Business and consumers are also worrying about the continued impact of a wide-ranging U.S.-led trade war that has targeted key partners including China and Canada.

The latest inflation update on Thursday revealed a surprise cooling of prices in November. The Labor Department reported that its consumer price index rose 2.7%. But economists quickly warned that those numbers were suspect because they’d been delayed and likely distorted by the 43-day federal shutdown.

“The wave of economic data did little to provide clarity for investors this week, keeping the market in the trading range it has been in since September,” said. Mark Hackett, chief market strategist at Nationwide, in a note to investors.

Inflation is still above the Federal Reserve's 2% target. The central bank cut its benchmark interest rate at its most recent meeting. It has been concerned about the slowing job market hurting the economy. But cutting interest rates could add more fuel to inflation, which could also stunt economic growth.

The Fed has maintained a cautious stance about interest rate policy heading into 2026 and Wall Street is mostly betting that it will hold steady on rates at its next meeting in January.

Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.15% from 4.11% late Thursday.

Japanese stocks rose after the Bank of Japan raised its benchmark interest rate to its highest level in 30 years. In Tokyo, the Nikkei 225 gained 1%, leading the rise across Asia's key markets. Markets in Europe also gained ground.

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AP Business Writer Matt Ott contributed.

Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)

Medline Industries signage is displayed outside the Nasdaq MarketSite, Wednesday, Dec. 17, 2025, in New York. (AP Photo/Yuki Iwamura)

Trader Vincent Vincent Napolitano, surrounded by holiday decorations, works on the floor of the New York Stock Exchange, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)

Specialists Alex Weitzman, left, and Meric Greenbaum work on the floor of the New York Stock Exchange, Thursday, Dec. 11, 2025. (AP Photo/Richard Drew)

People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

People stand in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of an electronic stock board showing the market indexes of Shanghai, Tokyo and New York Dow at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)

A person walks in front of a chart showing Japan's Nikkei index at a securities firm Friday, Dec. 19, 2025, in Tokyo. (AP Photo/Eugene Hoshiko)