Stocks open higher…Job gains cut in half…EU will likely miss emissions target
NEW YORK (AP) – Stocks are broadly higher as traders became more hopeful that a trade deal between the U.S. and China was making progress. Technology and industrial companies were among the biggest early winners. Texas Instruments climbed 2.5% and Union Pacific added 1.7%. Investors were encouraged by a report that Washington and Beijing were closer to agreeing on tariffs that would be rolled back as part of an initial deal. That came a day after President Donald Trump cast doubts on prospects for a deal this year.
NEW YORK (AP) – A rebound in the price of crude has sent oil-related stocks to the market’s biggest gains. Energy stocks in the S&P 500 rose 1.4% for the biggest gain among the 11 sectors that make up the index. Halliburton rose 3.9%, and Devon Energy added 4.1%.
WASHINGTON (AP) – A private survey finds that U.S. companies added just 67,000 jobs in November. It’s barely half the gain of the previous month. Payroll processor ADP says manufacturers, construction firms and mining companies cut 18,000 jobs combined. Companies with fewer than 20 employees also slashed their payrolls. November’s job gain is the fewest in six months, and economists say it suggests that hiring could be weakening.
MADRID (AP) – The European Union says it will likely miss its target for reducing greenhouse gases by 2030. The announcement deals a blow to the bloc’s efforts to be a leader in the fight against climate change. The European Environment Agency said existing measures put the EU on course to cut its emissions of carbon dioxide and other planet-warming pollutants by 30% in the next decade compared with 1990 levels. The 28 nations had been aiming for a reduction of 40%.
DETROIT (AP) – Kid Rock won’t renew his licensing agreement for Kid Rock’s Made in Detroit restaurant. The announcement comes from the owners of the sports arena in which it’s housed. The news comes after the singer and musician was recently filmed delivering a vulgar rant against Oprah Winfrey.