Stocks up … EPA proposes relaxing coal plant emissions rule … Kremlin dismisses hacking claim
NEW YORK (AP) – Stocks are opening higher in morning trading after homebuilders and other companies posted solid results. Homebuilder Toll Brothers jumped more than 11 percent after reporting earnings that came in well ahead of what analysts were expecting. TJ Maxx parent company TJX Companies rose 4 percent after reporting a strong quarter, but discount brokers ETrade and Charles Schwab are down sharply following a report that JPMorgan Chase will offer free online trading.
NEW YORK (AP) – Oil prices continue to rise. After closing yesterday at $66.43 a barrel, U.S. benchmark crude is trading above $67 per barrel in New York this morning, up more than a dollar.
WASHINGTON (AP) – The Trump administration has proposed a major rollback in Obama-era restrictions on climate-changing emissions from coal-fired power plants. The plan gives the states more discretion in choosing how to regulate pollution from the plants. The Environmental Protection Agency says the move “promotes energy independence.” Environmental groups say it will harm the fight against global warming.
UNDATED (AP) – The Kremlin is dismissing new reports that Russia is targeting U.S. political groups through cyberattacks ahead of midterm elections. Microsoft says it’s uncovered new intrusions by Russian government-linked hackers on U.S. political groups. It says one group created fake internet domains that appeared to spoof two American conservative organizations. The Kremlin says Microsoft’s statement lacks detail and clarity on “who the hackers in question are.”
ATHENS, Greece (AP) – The era of international bailouts in Greece is finally over, but the country remains shackled to the austerity demands of its former creditors. During the eight-year bailout era that ended yesterday, the Greek economy contracted by a quarter, incomes were repeatedly slashed and taxes hiked while unemployment swelled. One in five Greeks remain out of work. But in an address to the nation, Prime Minister Alexis Tsipras (TSEE’-prahs) hails the return of financial freedom follow what he describes as “a modern Odyssey.”