Wall Street pointed toward losses before markets opened and oil prices bounced up and down after U.S. President Donald Trump warned Tehran that the “clock is ticking” as U.S.-Iran negotiations over a permanent end to the war stall. Futures for the S&P 500 were down 0.3% before the opening bell Monday and futures for the Dow Jones Industrial Average dipped 0.4%. Nasdaq futures inched back 0.2%. Brent crude, the international standard, lost 6 cents to $109.20 per barrel. It was trading at roughly $70 a barrel in late February before the start of the Iran war. Benchmark U.S. crude was down 31 cents to $105.11 per barrel.

Pope Leo XIV and Anthropic's co-founder Christopher Olah are set to launch the pontiff’s first encyclical on May 25. The document, titled "Magnifica Humanitas," focuses on human dignity in the AI era. The Vatican announced this Monday. The presence of Olah suggests the pope's stance on AI could become a contentious issue with the Trump administration. Earlier this year, the administration ordered U.S. agencies to stop using Anthropic’s AI technology. Anthropic is suing, claiming illegal retaliation. The new encyclical is expected to address AI within the church’s social teachings, similar to past discussions on labor and justice.

The White House says China has agreed to increase its imports of U.S. agricultural products like beef and poultry, after President Donald Trump's visit to Beijing last week. It says China will buy at an annualized rate of $17 billion per year for 2026 and at that level for 2027 and 2028, on top of previous commitments to buy U.S. soybeans. China sharply curtailed its imports last year after Trump launched a trade war against the country, and U.S. farmers felt the brunt of the impact. The agreement includes restoring market access for U.S. beef and resuming poultry imports from certain states. There was no immediate confirmation of the terms from Beijing, but China on Saturday had signaled an agreement to reduce some trade barriers.

The strike shutting down North America’s largest commuter rail system will continue into a third day. Lengthy negotiations failed to reach a deal in time to save Monday morning's commute on the Long Island Rail Road in New York. The talks that began Sunday afternoon went past 1 a.m. Monday before negotiators called it a night, agreeing to resume discussions six hours later. The failure to reach a deal means the strike will mar the start of the work week for about a quarter million commuters. The talks involved five unions representing about half the railroad's workforce and the Metropolitan Transportation Authority, which runs the railroad. The strike started Saturday. The two sides have negotiated for years over a new contract.

The collapse of Spirit Airlines isn't the only curveball confronting people planning summer trips. Rising jet fuel costs tied to the Iran war have pushed up airfares and associated fees across the industry. Two of the remaining U.S. budget carriers just finalized a merger. The developments illustrate how difficult it's gotten for low-cost airlines to operate while squeezed by jet fuel prices, changing consumer preferences and competition. For decades, budget carriers thrived by targeting price-conscious passengers. But big airlines like American, Delta and United have gotten better at tailoring prices to different travelers and matching low fares. Major carriers also can more easily generate revenue to offset higher fuel costs.

John Krasinski returning as Jack Ryan in “Jack Ryan: Ghost War” for Prime Video and “Stranger Things” masterminds the Duffer Brothers producing a Netflix show in which a retirement community teams up to battle monsters are some of the new television, films, music and games headed to a device…

Parents with newborns in intensive care units have long faced a difficult but overlooked plight: Any parental leave they might have does not take into account the days or even months their newborns spend in intensive care. Many choose to return to work immediately rather than use up leave they will need when their baby comes home. Colorado and Illinois became the first states this year to adopt dedicated neonatal leave programs, galvanizing a grassroots movement for more state programs and a federal policy.

A drone strike has targeted the United Arab Emirates’ sole nuclear power plant. No one has been blamed and no major damage is reported. But Sunday's incident highlights the risk of renewed war as the United States and Iran signal they would be ready to fight again. U.S. President Donald Trump spoke with Israeli Prime Minister Benjamin Netanyahu and shortly afterward said on social media that Iran “better get moving, FAST, or there won’t be anything left of them.” Tensions continue over Iran's grip on the Strait of Hormuz. Diplomatic efforts for a more durable peace have repeatedly faltered.

NEW YORK (AP) — As his daughter Olivia was born, Marlon White felt his wife's hand slacken as she fainted. The baby, born at 29 weeks weighing about 2 pounds, wasn't making a sound as she was rushed to the neonatal intensive care unit. Terrified, he waited in the hall while the doctors stabi…

Recent outbreaks of hantavirus and norovirus on cruise ships are making headlines, but they’re unlikely to dim the growing popularity of vacation cruises, according to industry representatives and travel experts.

The Michael Jackson biopic, “Michael,” is reclaiming the top spot in the North American box office. Studio estimates on Sunday show the film earned $26.1 million in its fourth weekend in theaters, bringing its worldwide total to over $700 million. “The Devil Wears Prada 2" took second place with $18 million, reaching $546.2 million worldwide. Newcomer “Obsession” exceeded expectations with $16.1 million. “Mortal Kombat II” secured fourth place by bringing in $13.4 million. Amazon MGM Studios had three films in the top 10, including “The Sheep Detectives,” “Project Hail Mary” and newcomer “Is God Is,” which rounded out the top 10.

WAIALUA, Hawaii (AP) — The reddish-brown mud that smothered Bok Kongphan's Hawaii farm has hardened in the tropical sun. Irrigation tubes lie in a tangle where his lemongrass, cucumber and okra once flourished.

The shutdown of North America’s largest commuter rail system has continued into a second day with no end in sight after unionized workers went on strike. The Long Island Rail Road in New York was not operating Sunday, a day after five unions representing about half its workforce walked off the job early Saturday morning. The two sides have been negotiating for months on a new contract. The MTA has said it would provide limited shuttle buses to New York City subway stations in the event of a strike. Gov. Kathy Hochul planned a news conference for late Sunday morning.

The day John Lennon was shot in 1980, he and Yoko Ono gave an interview to a San Francisco radio crew from their home in New York’s Dakota Apartments. In “John Lennon: The Last Interview,” Steven Soderbergh pp those surviving tapes into a new documentary that debuted Saturday at the Cannes Film Festival. But his decision to fill in some visuals using Meta's AI software has prompted an outcry. One of America’s leading filmmakers was using AI? In a film about a Beatle, no less? Soderbergh has placed himself at the forefront of an industrywide debate about the uses of AI in moviemaking. But for him, it’s a conversation he’s eager to have.

The artificial intelligence boom is leading to fights in some states over growing utility profits. Governors, attorneys general and others are protesting rising electricity bills and say cash-strapped residents are stuck in a broken system. Officials in over a half-dozen states are going to new lengths to try to block rate increases proposed by utilities. Some are pressing utilities to completely change their model for financing major system upgrades. The push comes during a midterm election year in which “affordability” is the leading theme in Democrats’ attempts to loosen Republicans’ control of Washington.

President Donald Trump has returned from his state visit to China to face a challenging U.S. economy. Consumer inflation rose to 3.8% annually in April, driven by the Iran war and tariffs. The Cleveland Federal Reserve estimates inflation could reach 4.2% in May. Trump's trip to China seems unlikely to help despite his claims of trade deals. Many U.S. voters are facing rising costs for essentials. Democrats criticize Trump for being indifferent to inflation concerns. Trump insists he's focused on growth and affordability, but inflation continues to affect businesses and interest rates. The November elections could be influenced by these economic pressures.

U.S. President Donald Trump has described arms sales to Taiwan as a "very good negotiating chip" in dealings with China. This comment, made in a Fox News interview, has heightened anxieties in Taiwan, which China claims as its own. Trump suggested that a $14 billion arms package to Taiwan depends on China, raising concerns about Taiwan's security. China has warned of potential conflicts over Taiwan, framing it as a crucial issue in China-U.S. relations. Trump's remarks also included a call for Taiwan's microchip makers to move to the U.S., adding to the island's concerns.

Walmart and Amazon are racing to speed up order deliveries in rural areas of the U.S. Small cities and towns are a rich source of untapped sales for whichever retailer builds a loyal base of online shoppers. Analysts at investment bank Morgan Stanley estimate the underserved market could be worth up to $1 trillion in annual sales. The turf battle between the nation's two biggest retailers has intensified as remote workers swell the populations of communities on the far fringes of metropolitan areas. It's also taking place as FedEx, UPS and the U.S. Postal Service are scaling back or slowing deliveries to some rural areas.

Pope Leo XIV has created a study group on artificial intelligence in a sign of his ongoing concern about the technology. The Vatican announced the creation of an in-house study group even as it gears up to release Leo's first encyclical. It's expected to emphasize the need for an ethics-based approach to AI that prioritizes human dignity and peace. Vatican officials said Leo signed it on the anniversary of Pope Leo XIII’s significant encyclical, “Rerum Novarum,” or Of New Things. This new document is expected to address AI within the context of the church's social teachings.

NEW YORK (AP) — Workers on New York’s Long Island Rail Road are on strike, union officials said early Saturday, paralyzing the busiest commuter rail system in North America.

Workers on New York’s Long Island Rail Road go on strike, shutting down North America's busiest commuter rail system.

NEW CASTLE, Del. (AP) — A neat stack of 79-cent bananas and rows of colorful fruit flanked the bilingual alternative pop band Luna Luna as they performed for a small audience at a Latino grocery store in northern Delaware.

President Donald Trump’s three-day trip to China was unexpectedly dominated by discussions about Taiwan and a new framework for managing Washington and Beijing's complicated relationship. Chinese President Xi Jinping kicked off Trump’s whirlwind visit with a warning: If Washington mishandles its relations with the self-governing island of Taiwan, the U.S. and China could end up clashing or even in open conflict. Trump did not respond publicly, refraining from mentioning Taiwan while in Beijing. But he suggested aboard Air Force One on his way home that Xi’s staunch opposition might make him rethink a planned U.S. arms sale to Taipei.

President Donald Trump says American aircaft manufacturer Boeing has a deal to sell at least 200 planes to China. Trump told reporters about the sale on Air Force One as he returned from a summit with Chinese President Xi Jinping. Trump says China reserved the right to buy as many as 750 Boeing planes. Boeing confirmed the 200-plane order later on Friday but did not specify the types of planes or provide any other details. The deal would represent a significant breakthrough for Boeing in a market that was once central to its long-term growth. Trump says the deal also calls for General Electric to supply China with at least 400 engines.

Berkshire Hathaway more than tripled the size of its investment in Google’s parent company and bought over $2.6 billion worth of Delta Airlines stock as Greg Abel settled into the CEO job after taking over from Warren Buffett at the start of the year. Buffett was always reluctant to invest in tech companies because he said he didn’t understand them well enough. Buffett did make an exception to that rule near the end of his career by buying a massive Apple stake. But Abel appears to be more comfortable because by the end of March Berkshire owned nearly 58 million Alphabet shares worth almost $17 billion. That is up from only 17.8 million Alphabet shares worth $5.6 billion three months earlier.

WASHINGTON (AP) — When Jerome Powell was sworn in as chair of the Federal Reserve eight years ago, economists worried that inflation and interest rates were too low and that too few Americans had jobs.

The U.S. stock market fell from its records and joined a worldwide drop for stocks after higher oil prices sent a shiver through the bond market. The S&P 500 fell 1.2% Friday from its all-time high. The Dow Jones Industrial Average dropped 1.1%, and the Nasdaq composite sank 1.5% from its own record. Technology stocks led the market lower, particularly AI winners. They had shot so high that some critics said they had gone too far. Yields jumped in the bond market on worries about how much rising oil prices will worsen inflation. The 30-year Treasury yield is back to where it was in 2007.

Virginia Gov. Abigail Spanberger has signed legislation banning certain semi-automatic firearms. The new law is to take effect July 1. It prohibits the sale and manufacture of what it describes as "assault firearms." But gun-rights groups quickly sued seeking to block the new law. The measure is one of about two dozen laws restricting or regulating guns that have been signed this year by Virginia's Democratic governor. That marks a major shift from the previous Republican administration. Spanberger said Friday that the gun limits are intended to protect families. But gun-rights groups said they violate the constitutional right to bear arms.

GENEVA (AP) — FIFA finally sealed a World Cup broadcast rights deal for China on Friday, just 27 days before the opening game and at a much lower reported price than the soccer body wanted.

President Donald Trump says he’s not yet made a decision on whether a major sale of U.S. arms to Taiwan can move forward following his three-day visit to China. The president spoke to reporters Friday as he flew back on Air Force One. Trump's Republican administration has authorized the sale, but it has yet to proceed. Some Republicans in Congress expressed displeasure at the president's comments on weapons to Taiwan. China opposes the deal and has suggested that Washington’s relationship with the self-governing island is the key factor in China-U.S. relations. Trump also says he raised a potential three-way nuclear deal involving the U.S., Russia and China.

NEW YORK (AP) — The antipoverty nonprofit Global Citizen is no stranger to big stages. The advocacy group rallied more than 60,000 festivalgoers at its Central Park concert last year around issues of rainforest protection and energy access.

The U.S.-Israeli war with Iran, and the closure of the Strait of Hormuz, have sent economic shock waves across the Mideast. In Lebanon, those woes have been compounded by the country’s existing economic problems and by largely unregulated markets that are vulnerable to price gouging. Lebanon was already battered in Hezbollah and Israel’s last war, which ended in late 2024 and cost the country an estimated $11 billion in damage and economic losses. The renewed fighting made the situation worse. Now 1.2 million Lebanese have been displaced. Many are sheltering in schools with no work or draining whatever money they have renting out apartments or hotel rooms.

Starbucks said Friday it’s laying off 300 corporate employees and closing some U.S. offices as part of its ongoing turnaround. No coffeehouse employees are affected. The cuts will impact employees in support functions like marketing, human resources and supply chain management. Starbucks said no international employees are affected for now, but it's reviewing its corporate structure outside the U.S. Starbucks said it’s also closing underused offices in Atlanta, Dallas, Chicago and other cities. Starbucks expects to the moves to result in $400 million in restructuring charges, including $120 million in employee separation benefits.

BEIJING (AP) — Jensen Huang is trying some of Beijing’s delicacies — the good, and others which may be more of an acquired taste.

Someone paid more than $9 million to have lunch with basketball player Stephen Curry and Warren Buffett, and the legendary investor also promised to match the winning bid so both their favorite charities will benefit. The auction on eBay was intended to revive an event that Buffett hosted for more than two decades that raised $53 million for the GLIDE Foundation homeless charity in San Francisco. This year’s auction that wrapped up Thursday night also raised month for Curry’s Eat.Learn.Play. Foundation that he established with his wife, Ayesha. The annonymous winner paid $9,000,100 to win a private lunch with Buffett and the Currys in the 95-year-old investor’s hometown of Omaha, Nebraska, next month.

Trump says he hasn't determined whether to move forward on major arms package for Taiwan after summit with China's Xi.

Nations across Asia are pushing for the use of more biofuels in transportation in order to slash dependence on imported fossil fuels, which have been disrupted by the Iran war. Asia is hardest hit by the ongoing energy shock since most of the fossil fuel shipments through the now-closed Strait of Hormuz were Asia-bound. India is considering allowing vehicles to run on 85%, or even 100% ethanol. Meanwhile, Indonesia and Malaysia are both racing to increase fuel blending with similar ambitions of cutting back on imported fuels. Experts are split on the climate benefit of these fuels, with some stressing that other forms of renewable energy would likely be more efficient.

Tensions are escalating again near the Strait of Hormuz after a ship anchored off the United Arab Emirates was seized and taken toward Iran and another was attacked and sank near the coast of Oman. The incidents reported on Thursday came as a senior Iranian official reiterated his country’s claim to the waterway. Another Iranian official says Tehran has a right to seize oil tankers connected to the U.S. The British military says the ship seized near the UAE was moving toward Iranian territorial waters. The seizure comes as U.S. President Donald Trump meets with Chinese leader Xi Jinping in Beijing.

Trump and Xi wrap up summit claiming progress in stabilizing US-China relations, but deep differences persist.

Pope Leo XIV has denounced investments in AI and high-tech weaponry, warning they lead to a “spiral of annihilation.” He called for peace in the Middle East and Ukraine during a visit to Rome’s La Sapienza University on Thursday. This marked the first papal visit to the campus since 2008. The pope was warmly welcomed, including by young Palestinians who arrived in Italy this week to study. Leo criticized increased military spending at the expense of education and healthcare. He emphasized the need for responsible AI development and highlighted the importance of valuing life and peace.

MANCHESTER, England (AP) — Saudi Arabia’s sovereign wealth fund became an “official tournament supporter” of the World Cup on Thursday and reaffirmed its commitment to invest heavily in sports despite notable retreats from other ventures in recent months.

Lawyers for Elon Musk and OpenAI made their final arguments Thursday in the landmark trial whose outcome could shape the future of artificial intelligence. Musk, the world’s richest man, was a co-founder of OpenAI, the company that launched in 2015 and went on to create ChatGPT. After Musk invested $38 million in its first years, his lawsuit filed in 2024 accused OpenAI CEO Sam Altman and his top deputy of shifting into a moneymaking mode behind his back.