Wall Street rose on hopes the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 climbed 1% Thursday after reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and shoppers of all kinds are feeling pressure. Altogether, investors saw the data pushing the Fed toward not hiking rates at its next meeting in two weeks. That would be the first time that’s happened in more than a year. The Dow rose 153 points, and the Nasdaq led the market as Big Tech rallied.

HOUSTON (AP) — A federal judge did not make an immediate decision Thursday on the fate of a revised version of a federal policy that prevents the deportation of hundreds of thousands of immigrants brought to the U.S. as children.

A former Playboy model who alleges Bill Cosby drugged and sexually assaulted her and another woman at his home in 1969 is suing the entertainer in Los Angeles under a new California law that suspends the statute of limitations on sex abuse claims. In her lawsuit, Victoria Valentino says she passed out after Cosby gave her a pill at a restaurant. She says she then woke up at the comedian's home and witnessed him assaulting her friend. Cosby then raped her, according to the lawsuit. A Cosby spokesperson says the lawsuit lacks “any proof or facts.”

President Joe Biden fell on stage at the U.S. Air Force Academy graduation on Thursday. The White House says Biden is “fine” after he tripped over a sandbag. Biden had been greeting the graduates in Colorado Springs, Colorado, at the front of the stage with salutes and handshakes. Biden turned to jog back toward his seat when he fell. He was helped up by an Air Force officer as well as two members of his U.S. Secret Service detail. He then returned to his seat to view the end of the ceremony. White House communications director Ben LaBolt later tweeted, “He's fine.” Two small black sandbags were on stage supporting the teleprompter used by Biden and other speakers.

MIAMI (AP) — A tropical depression formed in the Gulf of Mexico on Thursday, which is the official first day of the Atlantic hurricane season.

A structural engineer report issued just days before an Iowa apartment building partially collapsed indicated a wall of the century-old structure was in imminent risk of crumbling. Despite that, residents were allowed to remain inside the building, and officials said Thursday they relied on the engineer’s assurances that the building remained safe. Officials in the eastern Iowa city of Davenport said three residents of the six-story building were still unaccounted for and that there were no immediate plans to demolish what remains of the structure, which remains extremely unstable. Crews were using drones to scan the building and consulting with experts about how to safely bring down the structure.

Billy Joel is finally moving out of his monthly perch at Madison Square Garden. The singer-songwriter says he will conclude his residency in July 2024 with his 150th lifetime performance. Said Joel at a news conference: “I’m now 74. I’ll be 75 next year. It seems like a nice number.” The record-breaking residency began in January 2014 with Joel playing one show every month at the Garden for, as Joel said at the time, “as long as the demand continues.” In January 2015, Joel broke his own record of the “most consecutive performances by any artist” with the 13th show of the residency.