Stocks mixed…Retail sales climb…Industrial production flat
NEW YORK (AP) – Stocks have been mixed in early trading, with technology and health care companies lower, but industrial companies broadly higher. Texas Instruments lost 1.4% in the first few minutes of trading, and Johnson & Johnson fell 2%. Union Pacific climbed 1%.
WASHINGTON (AP) – U.S. retail sales rose at a solid pace last month, providing crucial support to the economy at a time when other drivers of growth have faded. The Commerce Department says retail sales rose 0.4% last month, the fourth straight increase. Sales at online retailers, grocery stores, home and garden stores, and at restaurants and bars all increased at a healthy pace.
WASHINGTON (AP) – U.S. industrial production was flat in June, as a slump in utilities was offset by gains in output by factories and mining. The Federal Reserve says manufacturing production increased 0.4% last month, aided by a 3% surge at auto plants. Still, factory output has been weak over the past 12 months, posting a modest gain of just 0.4%.
WASHINGTON (AP) – Google is reiterating it does not work with the Chinese military after President Donald Trump said on Twitter he would “take a look” at Google and its relationship to Chinese intelligence. The comments come as a House Judiciary subcommittee is holding a bipartisan investigation of the market power of Facebook, Google, Amazon and Apple.
GREENBELT, Md. (AP) – A federal trial begins this week for an Israeli woman charged in the U.S. with directing a scheme to defraud tens of thousands of investors across the globe out of tens of millions of dollars. Jury selection for Lee Elbaz’s trial began this morning in Maryland. She’s one of 15 defendants charged in the case and the first to be tried.