Financial News

Tuesday, September 24th
September 23, 2019
AP-NC Newswatch
September 23, 2019
Financial News

 

 

 

 

 Stocks lower on Wall Street … US-China standoff could increase some postal rates … Samsung folding phone to finally hit US

 

NEW YORK (AP) – Stocks are in negative territory at the open on Wall Street. At 10:30 a.m. Eastern Time, the S&P 500 was down 3 points, at 2,989. The Dow was down 46 points, to 26,889. And the Nasdaq was down 11 points, at 8,107. Bank of America fell 0.5% and JPMorgan slipped 0.4%. The yield on the 10-year Treasury fell to 1.69% from 1.75% Friday. Bond yields can affect interest rates on mortgages and other consumer loans.

 

NEW YORK (AP) – The one-week-old strike by some 49,000 General Motors workers could force the company to close more factories in Mexico and Canada because engines, transmissions and other components are built in the United States. Companies that supply parts to GM also will have to start cutting production. Already the United Auto Workers strike has forced GM to shut down two Canadian factories that make engines, older-model pickup trucks and two car models.

 

GENEVA (AP) – The effects of President Donald Trump’s standoff with China could soon result in higher postal shipping rates for some types of mail. The Trump administration is threatening to pull the United States out of the 145-year-old Universal Postal Union, complaining that some postal carriers like China’s aren’t paying enough to have foreign shipments delivered to U.S. recipients. A showdown looms at a special UPU congress that is being held Tuesday to Thursday in Geneva.

 

LONDON (AP) – Britain’s Supreme Court is to give its verdict Tuesday on legality of Prime Minister Boris Johnson’s five-week suspension of Parliament. The court is deciding whether Johnson acted improperly by shutting down Parliament for five weeks during the period before Britain’s Oct. 31 Brexit deadline, when the country is scheduled to leave the European Union. The topic has deeply divided British politicians as well as the public.

 

NEW YORK (AP) – Samsung’s folding phone is finally hitting the U.S. Samsung will start selling the nearly $2,000 Galaxy Fold, a phone with a screen that folds together like a book, on Friday. There will be an AT&T version as well as an unlocked version sold at Best Buy and Samsung stores. The South Korean tech giant had put the Galaxy Fold’s launch on hold for months after reviewers encountered problems with the device’s innovative folding screen.

 

AP-WF-09-23-19 1435GMT