AP National News

Tech company gains help push S&P 500 to record high

By DAMIAN J. TROISE and ALEX VEIGA
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by Rayos Syndication User

Technology companies helped lift stocks on Wall Street to a record high Friday. Apple and Intel soared about 2%. The S&P 500 rose 0.8% for its third straight weekly gain. The Dow Jones Industrial Average gained 0.9%, setting its own record high. The Nasdaq composite gained 0.5%. Levi Strauss shares jumped after the jeans maker posted strong first-quarter results. Stocks have been edging higher most of the week as investors remain cautiously optimistic about economic growth and progress against the pandemic.

Asian shares mostly lower on strong China price data

By ELAINE KURTENBACH - AP Business Writer
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by Rayos Syndication User

Shares have fallen in most Asian markets after China reported stronger than expected inflation data. Japan’s benchmark Nikkei 225 index rebounded after falling the day before. On Thursday, stocks closed moderately higher on Wall Street, pushed higher by gains in large technology companies that benefit from lower bond yields. The S&P 500 index gained 0.4%. The Dow Jones Industrial Average rose 0.2% and the technology-heavy Nasdaq Composite climbed 1%. Stocks have benefited this week as bond yields, which had been steadily ticking higher, retreated from highs hit earlier in the month. But higher than expected jobless claims dented some of the buying enthusiasm. 

Defrocked US priest revered in East Timor accused of abuse

By MARGIE MASON and ROBIN MCDOWELL - Associated Press
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by Rayos Syndication User

A former American priest who saved lives during East Timor’s struggle for independence is standing trial over accusations he sexually abused girls who lived at a shelter he founded. Richard Daschbach established the shelter decades ago for orphans and other destitute children in the Asian country. The 84-year-old from Pennsylvania is revered in the impoverished village where he worked in East Timor for his actions during the country’s fight for independence, at one point leading a ragtag group armed with spears to stave off attackers. Daschbach faces 14 counts of child sexual abuse, one count of child pornography, and one count of domestic violence.