Stocks turn lower…250,000 jobs added in October…US reimposing sanctions on Iran
NEW YORK (AP) – Stocks indexes have turned lower in morning trading on Wall Street, after starting the day higher. A better-than-expected jobs report and positive earnings news from companies including Starbucks and Symantec drove the early gains, while Apple sank after its sales and forecasts fell well short of Wall Street’s forecasts.
WASHINGTON (AP) – Employers added a stellar 250,000 jobs last month and boosted average pay by the most in nearly a decade in an effort to attract and keep workers. The Labor Department also says the unemployment rate remained at a five-decade low of 3.7 percent. The influx of new job-seekers lifted the proportion of Americans with jobs to the highest level since January 2009.
WASHINGTON (AP) – Record imports expanded the U.S. trade deficit for the fourth straight month in September. The Commerce Department says the gap between what America sells and what it buys abroad climbed to $54 billion, up 1.3 percent from August and the highest level since February. The politically sensitive trade deficit in goods with China rose by 4.3 percent to a record $40.2 billion.
WASHINGTON (AP) – The Trump administration has announced that it’s reimposing all U.S. sanctions on Iran that had been lifted under the 2015 nuclear deal. The sanctions cover Iran’s shipping, financial and energy sectors. They’re the second batch of penalties reimposed since President Donald Trump withdrew from the deal in May. The sanctions that will go into effect Monday penalize countries that don’t stop importing Iranian oil and foreign companies that do business with blacklisted Iranian entities. Eight countries are getting waivers so they can continue temporarily importing Iranian oil.
DETROIT (AP) – U.S. securities investigators have subpoenaed information from Tesla about production forecasts for the Model 3 electric car that were made last year. The company made the disclosure in a quarterly financial report filed today. Tesla says the Securities and Exchange Commission subpoena also covered other public statements made about Model 3 production.