Stocks open higher on China trade hopes…Corbyn slams May on Brexit…In France, tax protests planned amid New Year’s Eve celebrations
NEW YORK (AP) – Stocks are snapping higher in early trading on Wall Street on the last day of a volatile year as hopes grow for progress in resolving trade frictions between the U.S. and China. Big-name technology companies and retailers, which have been badly bruised in the barrage of selling this month, clawed higher early today. At 10:20 a.m., the S&P 500 was up 13 points, to 2,498. The Dow was up 198 points, to 23,259. And the Nasdaq was up 30 points, to 6,614.
LONDON (AP) – The leader of Britain’s main opposition party is condemning Prime Minister Theresa May’s handling of Britain’s exit from the European Union. Labour Party leader Jeremy Corbyn said in his new year message today that May has made a “mess” out of Brexit and put Britain into an unneeded crisis. May intends to have Parliament vote on her plan in mid-January.
PARIS (AP) – Paris is preparing to hold its annual New Year’s Eve celebrations on the Champs-Elysees under heavy security as some yellow vest protesters are planning to march on the famed avenue. Anti-government protesters angry over taxes and President Emmanuel Macron’s pro-business policies have issued calls on social media for a “festive event” in Paris and other French cities. France has deployed more than 147,000 security forces nationwide.
NEW YORK (AP) – Michael Kors is changing its name to Capri, now that it has added two high-end brands to its stable. Michael Kors has announced that it acquired the Italian fashion house Versace for more than $2 billion (1.83 billion euros) in September, less than two years after acquiring shoemaker Jimmy Choo. Capri Holdings Ltd. is projecting $8 billion in annual sales, with most of that coming from Michael Kors. Starting Wednesday, its New York Stock Exchange ticker symbol will be CPRI.
NEW YORK (AP) – New York City pharmacies won’t be allowed to sell cigarettes or other tobacco products starting Tuesday. The Wall Street Journal reports the ban also includes businesses that contain pharmacies, such as supermarkets and big-box stores. The city’s health department says the change will affect about 500 pharmacies currently selling tobacco products. The new rules follow a ban on electronic cigarette sales at pharmacies that took effect in late August.