This article reports on two local developments: residents in St. Johns County challenging a plan for 52 new townhomes and a Jacksonville community forum to discuss the cleanup of a polluted site. It also covers Wall Street's performance, with the S&P 500 and Dow Jones Industrial Average rising while the Nasdaq Composite fell.
St. Johns County residents are challenging a development plan for 52 new townhomes in World Golf Village. The proposed development, which would occupy a 3.6-acre parcel, has sparked concerns among residents about traffic congestion, increased strain on local infrastructure, and the potential disruption to the character of the neighborhood.
The residents are organizing to voice their opposition to the project and are seeking to engage with local officials and the developer to explore alternative solutions. They are also gathering support from other community members and environmental groups.Meanwhile, a Jacksonville community forum is scheduled to discuss efforts to clean up a 31-acre site in Talleyrand that has been contaminated by pesticides and pollution. The site, once used for industrial purposes, has been identified as a priority for remediation. Local officials, environmental agencies, and developers are working together to outline a plan for the cleanup and revitalization of the area.The forum aims to provide residents with information about the proposed remediation efforts, address their concerns, and solicit feedback on the project. The community's input will be crucial in shaping the strategy for cleaning up the Talleyrand site and ensuring its sustainable reuse.On Wall Street, the S&P 500 rose 0.2% after erasing an earlier fall of 0.9% while the Dow Jones Industrial Average climbed 358 points, or 0.9%, while the weakness for Big Tech stocks dragged the Nasdaq composite to a loss of 0.4%. Such cuts would give the economy a boost, and the U.S. stock market ran to repeated records last year on the assumption that more are coming after the Fed began lowering rates in September. But doesn't need much help.Questions are growing about whether the Fed will deliver even a single cut in 2025. High rates put downward pressure on prices for all kinds of investments, and those seen as expensive can feel the stiffest punches. Nvidia fell 2% and was the heaviest weight on the S&P 500, though that represents just a smidgen of its huge gains made in recent years. The chip company’s stock had nearly quintupled over the last three years amid the frenzy around Apple’s 1% slip and Meta Platforms’ fall of 1.2% were also among the heaviest weights on the market. Because they’re two of the largest companies on Wall Street, their moves pack more punch on the S&P 500 than other stocks. tumbled 16.8% for the largest loss in the S&P 500 after giving a forecast for revenue this upcoming year that fell short of analysts’ expectations. The vaccine maker, which is seeing a slowdown in COVID-related sales, is accelerating a cost-cutting program. Macy’s fell 8.1% after saying it will likely report revenue for the last three months of 2024 that’s at or slightly below the low end of the forecasted range it had earlier given. Edison International fell another 11.9% as wildfires continue to burn in the territory of its Southern California Edison utility. The utility has saidOn the winning side of Wall Street were oil-and-gas companies after the price of oil climbed. On Monday, a barrel of benchmark U.S. crude rose 2.9% to $78.82, while Brent crude climbed 1.6% to $81.01. The Biden administration said Friday it’sEarly Tuesday, benchmark U.S. crude lost 37 cents to $78.45 a barrel. Brent crude, the international standard, fell 43 cents to $80.58 a barrel. Shares of U.S. Steel rallied 6.1% after the Biden administration pushed back to June the deadline it imposed for the Pittsburgh-based company to unwind its proposed acquisition by Japan’s Nippon Steel. Intra-Cellular Therapies soared 34.1% after Johnson & Johnson said it would buy the biopharmaceutical company and its treatment for bipolar I and II depression for $132 per share in cash. Johnson & Johnson rose 1.7%. All told, the S&P 500 added 9.18 points to 5,836.22. The Dow Jones Industrial Average rose 358.67 to 42,297.12, and the Nasdaq composite slipped 73.53 to 19,088.10. In the bond market, which has been dictating much of Wall Street’s action lately, Treasury yields ticked higher. The yield on the 10-year Treasury rose to 4.78% from 4.76% late Friday. It’s been climbing relentlessly over the last month, and it was below 3.65% just in September. If Treasury yields continue to rise, either stock prices need to fall or companies need to produce bigger profit growth to make up for it. In currency trading, the U.S. dollar edged up to 157.70 Japanese yen from 157.26 yen. The euro cost $1.0255, down from $1.0274.Copyright 2025 The Associated Press. All rights reserve
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