Global stocks mixed … Jobs report out this morning … BMW CEO to step down
BEIJING (AP) – Asian stocks advanced today while European markets opened lower as investors waited for American jobs data and details of U.S.-Chinese trade talks. Benchmarks in London and Frankfurt retreated while Shanghai and Tokyo gained. Wall Street is expected to open lower with S&P and Dow futures each down 0.1%. U.S. markets were closed Thursday for the Independence Day holiday.
WASHINGTON (AP) – The June jobs report being released today will likely help determine whether the U.S. economy has stabilized or is gradually weakening. Data provider FactSet says that economists are estimating that the government will report employers adding 164,000 jobs in June. That would roughly match the average monthly gain this year and would mark a healthy rebound from the meager 75,000 jobs that were added in May. The unemployment rate is expected to hold at 3.6% for June – the lowest level since 1969 – for a third straight month.
FRANKFURT, Germany (AP) – BMW says CEO Harald Krueger is stepping down and that the company’s board will meet later this month to discuss a successor. Today’s news comes after BMW lost money on its automotive business in the first quarter of the year after the company was hit by a 1.4 billion euro ($1.6 billion) charge for an anti-trust case and by higher upfront costs for new technology. Krueger’s contract was due to expire in 2020.
LONDON (AP) – The U.K. competition watchdog is investigating Amazon’s purchase of a significant stake in food delivery service Deliveroo. The Competition and Markets Authority decision today will put any merger plans on hold. The authority says it has “reasonable grounds for suspecting” that the deal could “result in Amazon and Deliveroo ceasing to be distinct.”
SAN FRANCISCO (AP) – A report says Spanish-language television network Univision could be considering a sale from its private equity owners. The Wall Street Journal reported Thursday that Univision said it is “reviewing strategic options.” The company’s statement comes a day after the Journal reported it had hired outside advisers to review options, including potentially a sale.