Business
Stocks fall as Fed signals rates need to go still higher
Published
3 years agoon
Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control.
The S&P 500 fell 0.3%, with retailers and banks among the biggest weights on the benchmark index. The Dow Jones Industrial Average slipped less than 0.1%, while the Nasdaq composite closed 0.3% lower.
Decliners outnumbered gainers on the New York Stock Exchange by nearly a 2-to-1 margin. Smaller company stocks fell harder than the rest of the market, pulling the Russell 2000 index 0.8% lower.
Bond yields rose and hovered around multidecade highs. The yield on the two-year Treasury note rose to 4.45% from 4.37% late Wednesday. The yield on the 10-year Treasury, which influences rates on mortgages and other consumer loans, rose to 3.77% from 3.69% late Wednesday.
The Fed has been raising rates aggressively in order to tame inflation by applying the brakes to the economy. Investors have been hoping that more signs of easing inflation could help the central bank shift to less aggressive rate increases.
The central bank, though, has been clear about its intent to keep raising rates, possibly to unexpectedly high levels, to tame inflation. James Bullard, who leads the Federal Reserve Bank of St. Louis, reaffirmed that position in a presentation on Thursday, suggesting the Fed’s short-term rate may have to rise to a level between 5% and 7% in order to quash stubbornly hot inflation. The central bank has already raised its key rate to a range of 3.75% to 4%, up from nearly zero as recently as last March.
“Bullard’s comments this morning suggesting that they need to get the fed fund (rate) between 5% and 7% was a surprise, to say the least, to markets,” said Scott Ladner, chief investment officer at Horizon Investments. “That certainly was a shock to folks and pushed us further down.”
The S&P 500 fell 12.23 points to 3,946.56. The Dow dropped 7.51 points to 33,546.32. The Nasdaq lost 38.70 points to close at 11,144.96. The Russell 2000 index fell 14.04 points to 1,839.12. The major indexes are all headed for weekly losses.
The presentation from Bullard follows reports showing that inflation is starting to ease somewhat, but still remains extremely hot as consumers continue spending amid a very strong jobs market. Strong spending and employment remain a potential bulwark against the economy slipping into a recession. It also means the Fed will likely remain aggressive and raises the risk that it will hit the brakes hard enough on the economy to actually bring on a recession.
Stock markets “got a little bit ahead of themselves” after getting encouraging reports on consumer and wholesale prices easing a bit, said Ross Mayfield, investment strategist at Baird. “But, the Fed knows they have a long way to go.”
“When you have the (Fed) statement already laying it out and someone like Bullard saying what he said, there is a little bit of jawboning markets back down and letting investors know this fight is not over.”
Outside of concerns about inflation, the market is also worried about Russia’s war in Ukraine and lockdowns in China hurting the global economy.
The conflict in Ukraine has been weighing on the energy sector and any worsening could cause spikes in prices for oil, gas and other commodities that the region produces. U.S. oil prices fell 4.6%.
China’s “zero-COVID” approach has caused a supply crunch for some of Asia’s biggest manufacturers, denting economic growth.
Markets in Asia and Europe fell.
Companies are also wrapping up the latest round of earnings reports. Macy’s jumped 15% after beating analysts’ quarterly financial forecasts and raising its earnings outlook.
Retailer Bath & Body Works soared 25.2% after reporting strong financial results.
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Business
2026 PGA Show Takes Over Orange County Convention Center
Published
3 weeks agoon
January 23, 2026By
Willie DavidORLANDO, Fla. (FNN SPORTS) — Florida National News is on site all week covering the 2026 PGA Show as it takes over the Orange County Convention Center, transforming Orlando into the global epicenter of the golf industry.
The annual event draws thousands of industry professionals, athletes, media, and golf enthusiasts from around the world to preview the latest innovations shaping the future of the sport.
Global Golf Industry Converges in Orlando
The PGA Show brings together exhibitors and attendees from across the globe, showcasing cutting-edge golf equipment, apparel, technology, and services. From club manufacturers and gear designers to course operators and teaching professionals, the show serves as a central meeting point for every sector of the golf world.
Attetion, Technology, and Interactive Experiences
This year’s PGA Show features immersive activations, including state-of-the-art golf simulators, interactive training tools, and expanded indoor and outdoor driving range experiences. Technology continues to play a major role, with advancements in swing analytics, performance tracking, and course management on full display.
The show floor also highlights sustainability efforts and innovations aimed at growing the game for future generations.
Florida National News Provides Front-Row Coverage
Florida National News will deliver comprehensive coverage throughout the week, offering exclusive behind-the-scenes access, exhibitor highlights, and firsthand looks at the products and experiences defining the next era of golf.
Readers can follow along for daily updates, photos, and feature stories straight from the heart of the PGA Show
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– Todd Grasley and J Willie David, III contribute to this report.
News@FloridaNationalNews.com
Business
2025 Don Quijote Awards Program: A Keepsake for Event Attendees
Published
2 months agoon
December 22, 2025By
Willie DavidORLANDO, Fla. (FNN) – Inside the official event program booklet, attendees will find the powerful presence of premier media partner Florida National News, whose coverage team of reporters, photographers, videographers and social media journalists captures the very best of the annual awards gala.
From high-fashion red carpet arrivals and VIP guests to cocktail networking, exquisite dining, live musical performances, dynamic emcees, presenters, sponsors, finalists, honorees and winners—Florida National News amplifies every unforgettable moment of the prestigious 2025 Don Quijote Awards Gala.
Hosted by the Hispanic Chamber of Metro Orlando and Prospera, and powered by Diamond Sponsor Disney along with numerous supporting sponsors, the gala takes place at EPCOT’s World ShowPlace Pavilion. Through comprehensive, high-impact coverage, Florida National News elevates the awards gala experience—before, during and long after the final applause.
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J Willie David, III and Jenny Rosario | Corporate Partners and Events | Florida National News
– News@FloridaNationalNews.com
Business
Hispanic Chamber and Prospera Honor Business and Community Leaders at 28th Don Quijote Awards Gala
Published
2 months agoon
December 20, 2025By
Willie DavidORLANDO, Fla. (FNN) — The Hispanic Chamber of Metro Orlando and Prospera co-hosted the 28th annual Don Quijote Awards Gala on Dec. 13, 2025, at EPCOT’s World Showplace Pavilion, bringing together business, civic, and community leaders from across Central Florida to celebrate outstanding Hispanic entrepreneurs and professionals.
Presented with the support of major sponsors including Walt Disney World Resort, Duke Energy, Orlando Health, Wells Fargo, and others, the prestigious gala honored individuals whose leadership, perseverance, and vision continue to drive economic growth and community impact throughout the region. Florida National News captured highlights from the landmark celebration.
“Walt Disney World is a strong supporter of Central Florida’s entrepreneurial spirit, and we do business with over 2,300 small businesses across the region, many of which are proud members of the Hispanic Chamber of Metro Orlando and clients of Prospera,” said Jose L. Gonzalez, director of government and industry relations for Walt Disney Parks & Resorts. “The Don Quijote Awards represent the best of our community, and supporting this event is a priority for Walt Disney World.”
Celebrating Leadership and Entrepreneurial Excellence
For 28 consecutive years, the Hispanic Chamber of Metro Orlando and Prospera have partnered to spotlight exceptional entrepreneurial journeys through the Don Quijote Awards. Current board chairs Oscar Cristancho of the Hispanic Chamber and Adly Santiago of Prospera Central and Northeast Florida joined the celebration to recognize leaders who exemplify resilience and achievement within the Hispanic business community.
The evening was hosted by two distinguished masters of ceremony: Univision Emmy and Telly Award–winning journalist and meteorologist Jennifer Chang, alongside Univision Contigo host and longtime Sábado Gigante co-host Javier Romero.
Juan Amo, senior vice president and market executive at Bank of America, served as the 28th Event Chair and led the Don Quijote Awards Selection Committee.
“As this year’s chair, I had the privilege of witnessing firsthand the passion and perseverance behind these awards,” Amo said. “Our finalists exemplify courage, integrity, and a deep commitment to lifting others along the way. Their journeys strengthen our economy and reflect the values that define the Hispanic experience.”
2025 Don Quijote Award Recipients
The recipients of the 28th Don Quijote Awards are:
Hispanic Micro-Enterprise of the Year: Graceful Paws Pet Clinic, represented by owner Dr. Lynette Reyes
Hispanic Enterprise of the Year: Angels For Kids and Families, represented by owners Elizabeth and John Valencia
Professional of the Year: Rafael Caamaño, director of UCF Innovation Districts and Business Incubation Program, University of Central Florida
Excellence Award: Carlos Torres, chief deputy, Orange County Sheriff’s Office
Hispanic Community Champion Award: Jennifer Evins, president and CEO, United Arts of Central Florida
Lifetime Achievement Award: Ramon Ojeda
Legacy in Motion: Building the Future Together
Reflecting the theme “Legacy in Motion: Weaving Through the Future of Tomorrow,” the gala celebrated trailblazers whose leadership laid strong foundations that continue to uplift the Hispanic community today. Ten honorees were selected from more than 100 leaders, and the program included a special recognition honoring the legacy of Roberto Clemente, represented by the Roberto Clemente Foundation.
“Every person in this room represents a vital thread in the fabric we are building together,” said Pedro Turushina, president and CEO of the Hispanic Chamber of Metro Orlando. “Through leadership, service, and partnership, we are shaping a stronger Hispanic business community in Central Florida and beyond.”
Prospera Regional Vice President Katia Medina highlighted the organization’s milestone year, noting that the gala coincides with Prospera’s 30th anniversary in Central Florida.
“Our community’s spirit of entrepreneurship and innovation is vibrant and enduring,” Medina said. “We proudly carry forward the legacy planted by the pioneers who helped shape our path.”
Prospera President and CEO Augusto Sanabria added, “Their leadership laid the groundwork for the mission we continue today. Together, we are building a legacy that will benefit future generations.”
Guests enjoyed a culinary experience curated by renowned Disney Chef Luis Ruiz Guerra and the Disney Culinary team, followed by live Latin music from the band Caliente, which energized the dance floor late into the evening.
The gala was made possible through the generous support of sponsors including Walt Disney World Resort, Duke Energy, Orlando Health, Wells Fargo, AdventHealth, Bank of America, Seminole Hard Rock Hotel & Casino Tampa, Travel + Leisure, Universal Destinations and Experiences, Florida Blue, OUC – The Reliable One, JCQ Services, JPMorgan Chase, and Sky Builders USA. Premier media partners included El Osceola Star, iHeartMedia, La Prensa, Telemundo, Univision, Florida National News, Communicate 360, and RTW Photography.