Wall Street higher in early trading … Trump defends tough trade stance … Facebook pushes back
NEW YORK (AP) – Technology companies and banks are leading stocks higher in early trading on Wall Street, building on the markets gains from last week. At 10:34 a.m. Eastern Time, the S&P 500 rose 6 points, to 2,741. The Dow rose 167 points, to 24,800. And the Nasdaq composite climbed 7 points, or 0.4 percent, to 7,562. Bond prices fell. The yield on the 10-year Treasury rose to 2.91 percent.
WASHINGTON (AP) – President Donald Trump is defending his tough trade negotiations with China, Canada and Mexico, saying that U.S. farmers have been treated “unfairly” and by the time he finishes his trade negotiations, “that will change.” Trump has imposed tariffs on steel and aluminum imports from top U.S. trading partners, including Canada, Mexico and the European Union. And he has threatened tariffs on up to $200 billion in Chinese imports, raising the potential for retaliation.
NEW YORK (AP) – Facebook is pushing back against a media report saying that it provided extensive information about its users and their friends to third parties like phone makers. Facebook says it disagrees with reporting by the paper regarding software it rolled out 10 years ago that helped get Facebook on mobile devices like iPhones. Ime Archibong (EE’-may ahr-chee-BONG’), vice president of product partnerships, says Facebook has maintained tight control over the technology and that it is not aware of any abuse by the companies that it teamed with.
NEW YORK (AP) – Microsoft says it’s paying $7.5 billion in stock for the popular coder hangout GitHub. GitHub is a platform where software developers can go to host and review each other’s code. The San Francisco startup was founded in 2008 and it now counts about 27 million software developers around the world who use its platform to share code and build businesses. Microsoft says it expects the deal to close by year-end.
BERLIN (AP) – German pharmaceutical company Bayer AG says it plans to complete its purchase of U.S. seed and weed-killer maker Monsanto Co. this week after receiving all the required approvals from regulators. Bayer says it plans to complete the acquisition on Thursday, at which time, Bayer will become Monsanto’s sole shareholder.