BEIJING (AP) — Asian stocks rose Wednesday after a post-U.S. election rally drove the Dow Jones industrial average to a new high.
KEEPING SCORE: Sydney’s S&P-ASX 200 rose 1 percent to 5,465.50 and Seoul’s Kospi added 0.5 percent to 1,992.55. Hong Kong’s Hang Seng advanced 0.5 percent and the Shanghai Composite Index gained 0.1 percent to 3,250.43. Japanese markets were closed for a holiday. Benchmarks in New Zealand, Taiwan and Singapore also rose, while Indonesia declined.
WALL STREET: The Dow surpassed 19,000 for the first time. Retailers soared after strong earnings from Dollar Tree and Burlington Stores. Health care stocks slumped after weak results from medical device company Medtronic. The Dow has closed at a record high six times in the two weeks since the presidential election, but trading volume has fallen.
ANALYST’S TAKE: “The bulls have got control here,” said Chris Weston of IG in a report. “U.S. equity and many other developed markets are going higher, at least in the short-term.” Weston noted investors assume the U.S. Federal Reserve will go ahead with an interest rate hike in December. “Emerging markets have found support and are even attracting buyers,” said Weston. “If the Fed were to assess financial conditions in the wake of a potential rate hike they would be wholly enthused.”
TRUMP WATCH: President-elect Donald Trump announced the United States would withdraw from the Trans-Pacific Partnership in a brief video statement but avoided mentioning his campaign pledge to build a wall along the Mexican border. Trump’s gradual release of policy after giving few details on the campaign trail has started to reduce investor uncertainty, shoring up share prices. “As Trump has rowed back and not mentioned some of his more extreme policy sound bites, some worries about the nature of his presidency may have begun to abate,” said Alex Furber of CMC Markets in a report.
CURRENCY: The dollar held steady at 111.07 yen and the euro was little-changed at $1.0626.
ENERGY: Benchmark U.S. crude gained 2 cents to $48.05 per barrel in electronic trading on the New York Mercantile Exchange. The contract lost 21 cents on Tuesday to close at $48.03. Brent crude, used to price international oils, shed 2 cents to $49.10 in London. The contract added 22 cents the previous session to $49.12.
WASHINGTON (AP) — President Barack Obama awarded the nation’s highest civilian honor to 21 groundbreaking actors, musicians, athletes and innovators who inspired him over the years and “helped make me who I am.”
“Everybody on this stage has touched me in a very powerful, personal way, in ways that they probably couldn’t imagine,” Obama said in concluding an hour-long ceremony Tuesday in the White House East Room.
The Presidential Medal of Freedom recognizes especially meritorious contributions to the national interests of the United States, its security and its culture. Obama called the 2016 group a “particularly impressive class.”
In the film world, Obama honored Tom Hanks, Robert De Niro, Robert Redford and Cicely Tyson.
Michael Jordan and Kareem Abdul-Jabbar, two of the greatest basketball players ever, were also among the honorees. Obama noted how Jordan’s name is synonymous with excellence.
“There is a reason you call somebody ‘the Michael Jordan of,'” Obama said. “The Michael Jordan of neurosurgery, or the Michael Jordan of rabbis, or the Michael Jordan of outrigger canoeing. Everyone knows what you’re talking about.”
Bruce Springsteen and Diana Ross were recognized for their music. Of “The Boss,” he said Springsteen crafted “anthems of our America, the reality of who we are and the reverie of who we want to be.”
Other honorees included philanthropists Bill and Melinda Gates, comedian Ellen DeGeneres and broadcaster Vin Scully. Of DeGeneres, Obama said she has a way of making people laugh at something rather than someone, “except when I danced on her show.” He said it’s also easy to forget that she had risked her career nearly 20 years ago when she came out as gay.
“What an incredible burden that was to bear, to risk her career like that. People don’t do that very often, and then to have the hopes of millions on your shoulders,” Obama said.
The diverse group seemed to enjoy themselves at the White House, participating in a mannequin challenge before the ceremony, trying not to move as they were recorded on video.
Obama said the people receiving the medal helped push America forward and inspired millions around the world. The White House said the president and his staff spend time considering a variety of candidates for the award, but ultimately, it’s the president’s decision.
Posthumous honors went to Native American advocate Elouise Cobell and Rear Adm. Grace Hopper.
Others receiving the award included:
— Richard Garwin, an inventor and polymath physicist who made pioneering contributions to the nation’s defense.
— Frank Gehry, one of the world’s leading architects.
— Margaret H. Hamilton, a mathematician and computer scientist.
— Maya Lin, the designer of the Vietnam Veterans Memorial.
— Lorne Michaels, producer of “Saturday Night Live”
— Newton Minow, a former Federal Communications Commission chairman devoted to numerous public and charitable causes.
— Eduardo Padron, president of Miami Dade College.
On Twitter, reach Kevin Freking at https://twitter.com/APkfreking
NEW YORK (AP) — Reporters at The New York Times tweeted details from a meeting with President-elect Donald Trump as it happened on Tuesday, contrasting it with an off-the-record session Trump held a day earlier with leaders at the top television networks.
Reporters Maggie Haberman and Mike Grynbaum sent a steady stream of Twitter quotes from Trump on his decision not to pursue a case against former opponent Hillary Clinton about her private email server, and potential conflicts between his business and upcoming job in government.
The off-again, on-again Times meeting came as questions swirled about how forthright Trump will be with the media and, by extension, his soon-to-be constituents. He hasn’t held a news conference since his election and on Tuesday sent out a video news release about some of his plans upon taking office.
His meeting with television executives and anchors Monday triggered reports that he criticized them about campaign coverage.
Trump’s meeting at the Times headquarters, announced Monday, was briefly cancelled early Tuesday as the president-elect tweeted that the “terms and conditions” had been changed at the last minute. “Not nice,” tweeted Trump.
The Times said Trump’s team had tried make the meeting off-the-record, meaning details could not be reported, but the newspaper refused. A few hours later, the meeting was back on, and Trump had a private meeting with the Times’ publisher before the session with the publisher, editors and reporters.
The Times said that before the give-and-take on issues, the president-elect complained about some of the newspaper’s coverage of him, saying “I think I’ve been treated very rough.”
A day earlier, Trump reportedly had harsh words with television news division leaders at a Trump Tower meeting, including complaints about a picture NBC used of him where he had a double chin and singling out CNN’s campaign coverage. Besides news executives like CNN’s Jeff Zucker, Fox News’ Bill Shine and MSNBC’s Phil Griffin, the meeting included on-air personalities like ABC’s David Muir, CBS’ Charlie Rose and NBC’s Lester Holt.
Even though Trump aide Kellyanne Conway briefly talked to reporters about the meeting afterward, media participants were constrained from talking publicly about it.
“The symbolism was powerful and all wrong for them,” said Frank Sesno, a former CNN Washington bureau chief and a journalism professor at George Washington University. “For these powerful people to be marched to the tower of Trump to get their heads cut off — figuratively speaking — is not the positive imagery they could have hoped for.”
There can be reasons for holding off-the-record meetings, which are hardly unprecedented in Washington. In Monday’s meeting, media executives collectively could have delivered privately a powerful message to the incoming president about the importance of transparency and accessibility in a democracy, he said.
But, he said, “under no circumstances would you let this become habit-forming.”
President Barack Obama occasionally talked to journalists off the record but never held an entirely off-the-record meeting with a large group of media leaders similar to Trump’s with television executives. Obama’s administration was criticized by free press advocates for releasing handout photos, and occasionally handout videos, when independent media could have documented the occasion. Obama has held hold regular news conferences.
The networks would not say Tuesday whether they had requested an on-the-record session with Trump. Individual networks likely had less leverage than a single organization like the Times; if a network refused to attend an off-the-record session, for example, their leaders had to worry that their competitors would be there.
“Television has always been more deferential to power than newspapers,” said Mark Feldstein, a University of Maryland professor and author of “Poisoning the Press: Richard Nixon, Jack Anderson and the Rise of Washington’s Scandal Culture.” Broadcasters require government approval of licenses, and threatening to reject licenses was one weapon Nixon wielded against broadcasters, he said.
More than newspapers, television networks are dependent upon the ratings boost that a presidential appearance can bring. Trump’s post-election interview with “60 Minutes” delivered one of that show’s biggest audiences in years.
“Trump is trying to intimidate the networks into giving him less critical coverage,” Feldstein said. “The question is how are the media going to respond to him and (the network meeting) is not an auspicious beginning.”
Journalists are trying to encourage Trump to hold an open news conference, which has been traditional for presidents-elect shortly after their victories. Trump’s release of a video late Tuesday talking about his early priorities was alarming to many news organizations.
The Associated Press reported on the content of Trump’s message but did not send the video to members of the news cooperative. Kathleen Carroll, senior vice president and executive editor of The Associated Press, likened it to the AP’s refusal to take handout pictures of President Obama signing bills into law.
“We believe we ought to cover the president of the United States, and the president-elect, when they are doing the people’s business,” she said. “Setting out policies and how you are going to govern is the people’s business.”
Carroll noted with some alarm that both Trump and Clinton gave few news conferences in the final months of their campaigns. Public officials are obliged to answer questions on behalf of the people they serve, and not just with friendly, hand-picked audiences, she said.
CAPE CANAVERAL, Fla. (AP) — Turkey and football will be the main Thanksgiving headliners up on the International Space Station.
NASA astronaut Shane Kimbrough, the station’s commander, is serving as Thanksgiving chef for the six-person crew. He showed off the specialties he’ll be preparing in a video this week.
“It’s going to be a little bit different for us up here in space,” he said, “but I’m going to try to make it as much like home as we can.”
On Thursday — a regular workday for the crew — Kimbrough will warm up pouches of sliced smoked turkey, candied yams, and cherry and blueberry cobbler. He’ll also add water to the bags of freeze-dried cornbread dressing, green beans and mushrooms and mashed potatoes.
“You can’t have a Thanksgiving meal without green beans,” he noted.
Mission Control promises to beam up some live football games — “to complete the experience,” Kimbrough said.
It will be the second Thanksgiving in space for Kimbrough, who’s one month into a four-month mission, and the third for American Peggy Whitson, who arrived at the orbiting lab Saturday for a six-month stay. One Frenchman and three Russians round off the crew.
Kimbrough said he and the others will share what they’re thankful for this Thanksgiving. No 1 on the list, he said, is being safe in space.
NASA, meanwhile, is sharing its recipe for “out of this world” cornbread dressing. It’s straight from Johnson Space Center’s food lab, “no freeze-drying required.”
TOKYO (AP) — President-elect Donald Trump says he wants to pull out of the Trans-Pacific Partnership but other Pacific Rim leaders are vowing to push market-opening efforts they say are vital for growth.
The possible decline of the 12-nation TPP could give a boost to alternative initiatives including one promoted by China in which the United States is not taking part.
Trump’s message, in a brief video, was issued after President Barack Obama and other leaders of the Asia-Pacific Economic Cooperation group, meeting in Peru, called Sunday for fighting the backlash against trade highlighted by Trump’s victory and Britain’s vote to leave the European Union.
Promoters of the TPP say it is a step toward building a wider, pan-Pacific free trade zone, though critics object it would shift too much control over regulation to companies from governments and the public.
“There is very strong support among the other 11 parties to the TPP to ratify it and to seek to bring it into force,” said Australian Prime Minister Malcolm Turnbull.
Trump described the 12-nation pact as a “potential disaster for our country.” He has also said he wants to renegotiate the North American Free Trade Agreement with Canada and Mexico.
Obama has said he would give up seeking congressional approval for the TPP. He had championed it as a way for the United States to lead the creation of “gold standard” rules for 21st century trade.
“I think not moving forward would undermine our position across the region,” Obama told reporters in Lima.
New Zealand Prime Minister John Key said Washington will need to think about what role it wants to play in Asia and its fast-growing markets.
“The United States isn’t an island. It can’t just sit there and say it’s not going to trade with the rest of the world,” said Key after returning home. “At some point they’re going to have to give some consideration to that. But naturally, we’re a bit disappointed.”
The TPP, signed this year in New Zealand, would take effect after it is ratified by six countries that account for 85 percent of the combined gross domestic product of its member nations.
The United States is 60 percent of the combined GDP of that group and Japan less than 20 percent, so those conditions cannot be met without U.S. participation.
“TPP is meaningless without the United States,” said Japanese Prime Minister Shinzo Abe. Last week, he became the first foreign leader to meet Trump since his Nov. 8 election victory.
As Japan’s most powerful leader in a decade, Abe invested political capital in overcoming opposition to the TPP from farmers and the medical lobby. His ruling Liberal Democratic Party pushed TPP ratification through the lower house of parliament and had been set to seek final approval in the upper house.
Renegotiating the agreement would “disturb the fundamental balance of benefits,” said Abe, who was in Argentina following APEC.
Other TPP members include Chile, Mexico, Canada, Peru, Brunei, Malaysia, Singapore, Vietnam and Australia.
China hopes for progress on the Regional Comprehensive Economic Partnership, or RCEP, it is promoting with the 10 governments of the Association of Southeast Asian Nations, a Chinese foreign ministry spokesman said.
The RCEP would require fewer market-opening concessions than TPP. Critics say that would let China shield its huge but inefficient state-owned companies from competition. The agreement would include China, India, Indonesia and South Korea but no countries from the Americas have joined.
“We would like to push the negotiation process to make headway at an early date,” said the spokesman, Geng Shuang, at a regular briefing.
China also called at APEC for progress on a separate arrangement, the Free Trade Agreement of the Asia Pacific.
“We hope these free trade agreements can reinforce rather than thwart each other,” said Geng. “We should prevent fragmentation of economic and trade arrangements or politicizing such agreements.”
Associated Press writers Liu Zheng in Beijing; Rod McGuirk in Canberra, Australia; Nick Perry in Wellington, New Zealand, and Almudena Calatrava and Luis Andres Henao in Buenos Aires, Argentina, contributed to this report.
Luis Andres Henao on Twitter: https://twitter.com/LuisAndresHenao
NEW YORK (AP) — The Latest on President-elect Donald Trump (all times EST):
President-elect Donald Trump is appearing to deny that he is using the powers of his future office to benefit his businesses worldwide.
Trump took to Twitter Monday night to say it was “well-known” that he has properties across the globe. He blamed the media for raising questions about them.
He has said repeatedly that he will leave his company to his children and have no interest in it — but three of his adult children are also playing key roles in his transition.
Trump also tweeted that he believes Nigel Farage, leader of the “Leave” movement that propelled the United Kingdom to quit the European Union, would do “a great job” as Great Britain’s ambassador to the United States.
Farage supported Trump’s campaign and visited the president-elect this week.
President-elect Donald Trump is telling the American people that he is assembling a Cabinet made up of “patriots.”
Trump says in a video released late Monday that his agenda “will be based on a simple core principle: putting America first.”
He is reiterating a number of his promises for the first 100 days of his administration, including vows to negotiate new trade deals, remove regulations on businesses and establish a five-year ban on executive officials becoming lobbyists.
Notably missing from his promises is his pledge to repeal the Affordable Care Act and his vow to build a southern border wall with Mexico.
Trump has yet to hold the traditional news conference that previous presidents-elect have done within days of winning on Election Day.
President-elect Donald Trump is considering Dallas investor Ray Washburne as secretary of the interior.
That’s according to a person familiar with the deliberations who spoke on condition of anonymity because the person was not authorized to discuss the decision-making publicly.
Washburne, who worked on New Jersey Gov. Chris Christie’s presidential campaign before backing Trump, is a major GOP fundraiser.
He had previously been floated for commerce secretary.
Other candidates mentioned as potential candidates for the interior position include former Arizona Gov. Jan Brewer.
A congressional Democrat on the House Armed Services Committee says she had a “frank and positive” conversation with President-elect Donald Trump about Syria.
Rep. Tulsi Gabbard of Hawaii says in a statement Monday that she shared with Trump her opposition to creating a no-fly zone over Syria.
Gabbard says that would “lead to more death and suffering,” worsen the refugee crisis and strengthen the Islamic State group, as well as al-Qaeda. Gabbard says it could also bring the U.S. into direct conflict with Russia, “which could result in a nuclear war.”
Gabbard is also an Army National Guard major. She resigned her post in the Democratic National Committee earlier this year after endorsing Bernie Sanders over Hillary Clinton.
Trump’s aides say the president-elect wants to hear viewpoints from across the political spectrum.
Oklahoma Gov. Mary Fallin says she “discussed a wide range of issues” with President-elect Donald Trump but that she has not yet been offered a post in his administration.
Fallin, a Republican, is being considered to head the Interior Department, according to Trump aide Kellyanne Conway. Fallin met with Trump at Trump Tower on Monday and said they had a “wonderful discussion.”
Her meeting with Trump came after he sat down with former U.S. Sen. Scott Brown of Massachusetts. Brown indicated he is under consideration to become Veterans Affairs secretary.
Brown, a Republican and member of the Army National Guard, told reporters he believes he is “the best person” for the job. He said his priorities would be to combat veterans’ mental health issues in hopes of preventing suicides.
President-elect Donald Trump will spend Thanksgiving at his Mar-a-Lago resort in Florida. Vice President-elect Mike Pence is travelling to Mississippi, where his son is stationed, for the holiday.
That’s according to Jason Miller, a spokesman for Trump’s transition team.
Pence’s son, Michael, is a Marine who is training to be a pilot.
Miller said Trump will get together with family at his Palm Beach home and take a brief break from transition planning. Asked what Trump will be doing, Miller said, “hopefully eating some turkey.”
President-elect Donald Trump is planning to meet on Monday with Oklahoma Gov. Mary Fallin and former Texas governor and GOP presidential rival Rick Perry.
That’s according to top aide Kellyanne Conway. She told Fox News on Monday that Perry is a possible contender to lead the Defense or Energy departments and that Fallin is being considered to head the Interior Department.
In a separate interview on CNN, Conway said Tennessee Sen. Bob Corker is “rumored” to be on the list for secretary of state. Mitt Romney, a former Trump critic, has been discussed as a contender for that job as well.
Conway warned against drawing any conclusions from Trump’s meetings. She said: “Not everyone who consults with the president-elect or meets with him is going to be in his Cabinet.”
If Donald Trump is waiting for an apology from the cast of “Hamilton,” he will continue to wait.
Actor Brandon Victor Dixon, who plays Aaron Burr in the celebrated musical, told “CBS This Morning” that “there’s nothing to apologize for.” Dixon gave Vice President-elect Mike Pence an onstage earful about equality at the end of Friday’s performance.
Trump has taken to Twitter to demand an apology.
Dixon said “Hamilton” creator Lin-Manuel Miranda had a hand in crafting Dixon’s remarks, although Dixon said he “made some adjustments.”
Dixon said Monday that both Trump and Pence are welcome to come back stage and meet with the cast at any time, adding, “Art is meant to bring people together.”
Kellyanne Conway, a top aide to Donald Trump, says the president-elect will continue to use his Twitter account to “cut through the nonsense” and draw attention to his plan for the country.
Trump tweeted nine times this weekend, twice about his transition plans. The other tweets complained about a skit on “Saturday Night Live,” the cast of the Broadway hit “Hamilton,” Sen. Harry Reid and his fraud case with Trump University.
When CNN’s Chris Cuomo noted that most of his tweets didn’t draw attention to his plan for the country, Conway asked: “Why do you care?”
She said Trump isn’t focused on division: “This network and other people will always be focused on divisions. How about accepting the election results, Chris, and letting him form a government?”
President-elect Donald Trump is casting himself as the dealmaker-elect following a weekend of meetings.
With people coming and going at a New Jersey golf club, Trump says he’s made “a couple of deals” as he and his transition team consider Cabinet posts and other administration positions.
Two names emerging from those sessions are Mitt Romney as a potential secretary of state and retired Marine Gen. James Mattis as a prospect for defense secretary.