Stocks start lower…US considers more tariffs…Nike pulls flag shoe
NEW YORK (AP) – Stocks have started the day slightly lower on Wall Street a day after optimism over trade sent the S&P 500 to a record high close. Technology and health care led the way lower in the early going. Automatic Data Processing lost 3.7% and Humana lost 1.4% Safe-play sectors like real estate and utilities did better than the rest of the market. Trading was muted ahead of the July 4th holiday on Thursday.
WASHINGTON (AP) – The U.S. is considering tariffs on an additional $4 billion of goods from the European Union over what it considers to be illegal aircraft subsidies. Whether it does so depends on the results of a World Trade Organization assessment of EU subsidies on large civil aircraft, specifically to Airbus. The U.S. Trade Representative’s Office disclosed Monday that it could target a further 89 sub-categories following an earlier list in April. The new items include cheeses, olives and coffee.
NEW YORK (AP) – Nike is pulling a flag-themed tennis shoe after former NFL quarterback Colin Kaepernick complained to the shoemaker, according to the Wall Street Journal. The shoe’s heel has a U.S. flag with 13 white stars in a circle on it, known as the Betsy Ross flag. Citing unnamed sources familiar with the matter, the Journal said that Kaepernick, a Nike endorser, told the company he and others found the flag symbol offensive because of its connection to slavery.
NEW YORK (AP) – More than 200 corporations have signed a friend-of-the-court brief urging the U.S. Supreme Court to rule that federal civil rights law bans job discrimination on the basis of sexual orientation and gender identity. The brief is being submitted ahead of oral arguments before the justices this fall on three cases that may determine whether gays, lesbians and transgender people are protected from discrimination by existing federal civil rights laws.
PARIS (AP) – Environmental activists who have been joined by some yellow vest protesters are disrupting Amazon sites in France, accusing the online company of destroying jobs and hurting the planet. A few dozen demonstrators climbed a fence and forced their way into Amazon offices in northern Paris today, according to images shared on social media. They spoke with employees and staged a sit-in at the security gates.