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November 8, 2018
AP-NC Newswatch
November 8, 2018
Financial News

 

 

 

 

Stocks slip…1st recreational pot store to open in Massachusetts…3 toys added to Hall of Fame

 

NEW YORK (AP) – Stocks are slightly lower in early trading on Wall Street, after a big rally yesterday. Technology companies are slipping after chipmaker Qualcomm gave a disappointing revenue forecast for the current quarter and homebuilders are down after a weak fourth quarter. Health care companies are broadly higher, extending their postelection streak.

 

NEW YORK (AP) – Telecommunications equipment maker CommScope is paying $5.7 billion for Arris International as it prepares for the entrance of faster 5G service to the wireless market. Arris makes modems and boxes for the wireless industry, including cable operators. Equipment makers and telecommunications companies like Verizon are all gearing up for 5G, which is expected to allow for higher and faster data rates and better connections between multiple devices.

 

BRUSSELS (AP) – The European Union expects economic growth across the 19-country eurozone to slow over the coming years amid rising trade tensions around the world and higher oil prices. In its autumn forecast, the EU’s executive Commission said Thursday that eurozone growth this year is expected to moderate to 2.1 percent from last year’s decade-high rate of 2.4 percent. It also expects a further easing to 1.9 percent in 2019 and 1.7 percent in 2010. In spite of the anticipated slowdown, the Commission expects all member states to see growth this year and next.

 

NORTHAMPTON, Mass. (AP) – Northampton, Massachusetts will soon be home to the nation’s first legal recreational marijuana sellers east of Colorado. An existing medical marijuana dispensary will begin selling a range of cannabis-infused product to people over 21. A second store in the small town of Leicester (LEHS’-tuhr) may also open soon. Dozens of other retail applicants are awaiting final licensing approval from state regulators, two years after Massachusetts residents backed marijuana legalization.

 

ROCHESTER, N.Y. (AP) – Magic 8 Ball, Uno and pinball have made it into the National Toy Hall of Fame. The three are being inducted today in recognition of their staying power and influence. The honorees were chosen from a field of 12 finalists that also included American Girl Dolls, chalk, Chutes and Ladders, the Fisher-Price Corn Popper, Masters of the Universe, sled, tic-tac-toe, Tickle Me Elmo and Tudor Electric Football.

 

 

AP-WF-11-08-18 1556GMT