Stocks extend gains…Fewest jobs in 9 years added in May…Jack Daniels takes hit from tariff fight
NEW YORK (AP) – Stocks are extending gains to a second day in trading on Wall Street today, led by technology and health care companies. The index’s 2.1% gain yesterday was its best performance since January. Bonds rose and the yield on the 10 year Treasury dropped to 2.10%.
WASHINGTON (AP) – A private survey shows that U.S. companies added the fewest jobs in nine years last month as manufacturers, construction firms and mining companies cut workers. Payroll processor ADP says businesses added just 27,000 jobs in May, the fewest since March 2010.
LOUISVILLE, Ky. (AP) – The company that makes Jack Daniels took a hit from the Trump administration’s tariff fight, estimating that the standoff dragged sales growth down by a percentage point for the entire year. The Louisville, Kentucky, distiller posted fourth quarter sales of $744 million, which was well short of the $762 million that Wall Street had expected.
BLADES, Del. (AP) – Residents of a small Delaware town whose water supply is contaminated by chemicals linked to health issues ranging from cancer to infertility are suing several companies who manufactured the chemicals. The News Journal of Wilmington reports the five Blades residents say they have high blood levels of what is referred to as PFAS. Their lawsuit seeks to become certified as a class-action against a defunct metal plating company, 3M, DuPont and Chemours.
PARIS (AP) – Nutella fans can breathe a sigh of relief; the Unions and owner of the world’s biggest Nutella factory in France have removed picket lines and are back to work after production was brought to a near standstill in a dispute over salary negotiations. The factory’s owner said access to the factory was reopened overnight and that “normal activity” had resumed. The plant produces 600,000 jars of the chocolate and hazelnut spread every day – a quarter of the world’s output.