Stocks rise…Survey: US companies add 219,000 jobs in July…Construction spending falls
NEW YORK (AP) – Stock indexes are edging higher in early trading on Wall Street. Apple jumped 4.5 percent after it reported strong iPhone sales and a forecast that was better than expected. Bond yields climbed after a survey by payroll processor ADP said private U.S. businesses added 219,000 jobs in July. The yield on the 10-year Treasury note rose above 3 percent for the first time in three months.
WASHINGTON (AP) – A private survey finds that U.S. businesses added a healthy 219,000 jobs in July. Payroll processor ADP says hiring was led by health care providers, hotels and restaurants, and manufacturers. July’s figure was up from 181,000 in June and is enough to lower the jobless rate of 4 percent. The government releases its monthly employment figures on Friday.
WASHINGTON (AP) – The Commerce Department says spending on construction projects fell 1.1 percent in June, the biggest decline in more than a year. Government spending on construction projects fell 3.5 percent in June, the biggest decline since March of 2013. Spending on private residential projects fell 0.5 percent in June, with apartment building projects seeing a 2.8 percent decline.
WASHINGTON (AP) – The Trump administration says it’s clearing the way for health insurers to sell short-term plans as a low-cost alternative to pricey Obama-law policies for people struggling with high premiums. Federal health officials say the plans can last for up to 12 months and may be renewed for up to 36 months. The policies for individuals have no guarantees of coverage for existing medical conditions and come with limited benefits. Officials hope the plans will appeal to people who aren’t eligible for income-based subsidies under the Affordable Care Act.
WASHINGTON (AP) – Federal authorities have issued a public health alert about more than two dozen beef, pork and poultry salad and wrap products as a precaution, due to possible parasite contamination. The Agriculture Department’s Food Safety and Inspection Service says the products, distributed by Indianapolis-based Caito Foods, may be contaminated with cyclospora, which causes intestinal illness. The USDA says Caito Foods was notified from their lettuce supplier, Fresh Express, that the chopped romaine used in some of the salads was being recalled.