Stocks mostly lower…Tech stocks slip again…Trump renews NAFTA threat
NEW YORK (AP) – Stocks are mostly lower after small losses the day before and technology companies are down after they took their biggest drop in six weeks. Investors are treading cautiously ahead of a Group of Seven summit that promises to be tense as leaders confront U.S. President Donald Trump over tariffs he is imposing.
NEW YORK (AP) – Chipmaker Broadcom is down nearly 3 percent after its sales forecast came in a bit lower than expected. Skyworks, another chipmaker, fell 2.5 percent while Apple lost 1.6 percent.
NEW YORK (AP) – Shares in Verizon are lower after it said CEO Lowell McAdam will retire after seven years. He will remain chairman of the company, and chief technology officer and ex-Ericsson CEO Hans Vestberg will replace McAdam on August 1.
NEW YORK (AP) – Oil prices are moving lower. Benchmark U.S. crude slid 0.2 percent in New York. Brent crude, used to price international oils, fell 0.7 percent in London.
WASHINGTON (AP) – President Donald Trump is digging in on his threat to pull out of the North American Free Trade Agreement if he can’t make a better deal with America’s neighbors. Trump tells reporters that, “If we’re unable to make a deal, we’ll terminate NAFTA, we’ll have a better deal.” He spoke as he left the White House en route to what is sure to be a tense summit in Canada with leaders of the Group of Seven leading industrialized nations.