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Live news: Adobe shares on track for worst day in two years after weak outlook raises fears over AI investments
Items to look out for today include US inflation and employment data, and any insights contained in annual results from Broadcom and Costco Wholesale.
US wholesale inflation: The US producer price index, which tracks wholesale price inflation, is expected to have risen 2.6 per cent in November on an annual basis, compared with 2.4 per cent in October. The PPI figures land a day after data showing consumer prices rose 2.7 per cent in the year to November, in line with forecasts and underscoring expectations that the Federal Reserve will cut interest rates next week.
Initial jobless claims: New applications for US unemployment aid are expected to have slowed to 220,000 in the week ended December 7, from 224,000 in the previous week.
Broadcom: Investors will be keen to hear about any new product announcements from the US chipmaker when it reports earnings after market close. The company is expected to post a 52 per cent jump in fourth-quarter revenues, to $14.1bn.
Costco Wholesale: Investors will watch for the large retailer’s latest insights into consumer spending in the holiday season. Costco is expected to report a 7 per cent jump in first-quarter revenues, to $62.1bn.
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Supreme Court is death knell for Virginia’s Democratic-friendly congressional maps
The U.S. Supreme Court
Andrew Harnik/Getty Images
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Andrew Harnik/Getty Images
The U.S. Supreme Court refused Friday to allow Virginia to use a new congressional map that favored Democrats in all but one of the state’s U.S. House seats. The map was a key part of Democrats’ effort to counter the Republican redistricting wave set off by President Trump.
The new map was drawn by Democrats and approved by Virginia voters in an April referendum. But on May 8, the Supreme Court of Virginia in a 4-to-3 vote declared the referendum, and by extension the new map, null and void because lawmakers failed to follow the proper procedures to get the issue on the ballot, violating the state constitution.
Virginia Democrats and the state’s attorney general then appealed to the U.S. Supreme Court, seeking to put into effect the map approved by the voters, which yields four more likely Democratic congressional seats. In their emergency application, they argued the Virginia Supreme Court was “deeply mistaken” in its decision on “critical issues of federal law with profound practical importance to the Nation.” Further, they asserted the decision “overrode the will of the people” by ordering Virginia to “conduct its election with the congressional districts that the people rejected.”
Republican legislators countered that it would be improper for the U.S. Supreme Court to wade into a purely state law controversy — especially since the Democrats had not raised any federal claims in the lower court.
Ultimately, the U.S. Supreme Court sided with Republicans without explanation leaving in place the state court ruling that voided the Democratic-friendly maps.
The court’s decision not to intervene was its latest in emergency requests for intervention on redistricting issues. In December, the high court OK’d Texas using a gerrymandered map that could help the GOP win five more seats in the U.S. House. In February, the court allowed California to use a voter-approved, Democratic-friendly map, adopted to offset Texas’s map. Then in March, the U.S. Supreme Court blocked the redrawing of a New York map expected to flip a Republican congressional district Democratic.
And perhaps most importantly, in April, the high court ruled that a Louisiana congressional map was a racial gerrymander and must be redrawn. That decision immediately set off a flurry of redistricting efforts, particularly in the South, where Republican legislators immediately began redrawing congressional maps to eliminate long established majority Black and Hispanic districts.
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Explosion at Lumber Mill in Searsmont, Maine, Draws Large Emergency Response
An explosion and fire drew a large emergency response on Friday to a lumber mill in the Midcoast region of Maine, officials said.
The State Police and fire marshal’s investigators responded to Robbins Lumber in Searsmont, about 72 miles northeast of Portland, said Shannon Moss, a spokeswoman for the Maine Department of Public Safety.
Mike Larrivee, the director of the Waldo County Regional Communications Center, said the number of victims was unknown, cautioning that “the information we’re getting from the scene is very vague.”
“We’ve sent every resource in the county to that area, plus surrounding counties,” he said.
Footage from the scene shared by WABI-TV showed flames burning through the roof of a large structure as heavy, dark smoke billowed skyward.
The Associated Press reported that at least five people were injured, and that county officials were considering the incident a “mass casualty event.”
Catherine Robbins-Halsted, an owner and vice president at Robbins Lumber, told reporters at the scene that all of the company’s employees had been accounted for.
Gov. Janet T. Mills of Maine said on social media that she had been briefed on the situation and urged people to avoid the area.
“I ask Maine people to join me in keeping all those affected in their thoughts,” she said.
Representative Jared Golden, Democrat of Maine, said on social media that he was aware of the fire and explosion.
“As my team and I seek out more information, I am praying for the safety and well-being of first responders and everyone else on-site,” he said.
This is a developing story. Check back for updates.
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Woman killed in Atlanta Beltline stabbing identified
Crime scene tape surrounds a bicycle in front of St. Lukes Episcopal Church in Atlanta on May 14, 2026. (SKYFOX 5)
ATLANTA – The woman stabbed to death on the Beltline has been identified as 23-year-old Alyssa Paige, according to the Fulton County Medical Examiner.
The backstory:
Paige was killed by a 21-year-old man Thursday afternoon while she was on the Beltline. Officials confirmed to FOX 5 that the stabbing happened near the 1700 block of Flagler Avenue NE.
Atlanta Police Chief Darin Schierbaum said the department was alerted around 12:10 p.m. that a woman had been stabbed just north of the Montgomery Ferry Drive overpass. She was rushed to Grady Memorial Hospital where she later died. Another person was also stabbed during the incident, but their condition remains unknown.
According to officers, the man responsible attacked a U.S. Postal worker prior to the stabbing before getting away on a bike. He then used that bike to flee the scene of the stabbing as well.
The suspect was arrested near St. Luke’s Episcopal Church on Peachtree Street in Midtown around 5:25 p.m.
What we don’t know:
While officials haven’t released an official motive, they noted the man may have been suffering a mental health crisis.
The Source: Information in this article came from the Fulton County Medical Examiner’s Office and previous FOX 5 reporting.
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