Financial News

Tuesday, July 17th
July 16, 2018
AP-NC Newswatch
July 16, 2018
Financial News

 

 

 

Stocks trying to stay positive … China files WTO challenge to Trump tariff threat … US retail sales up in June

 

NEW YORK (AP) – Stocks are trying to stay above water on Wall Street today. Banks and retailers lead gains, adding the market’s gains over the past two weeks. At 10:20 a.m. Eastern Time, the S&P 500 index was down 4 points, to 2,798. The Dow Jones Industrial Average edged up 4 points, to 25,023. And the Nasdaq composite dropped 3 points, to 7,823. Bond prices fell. The yield on the 10-year Treasury note rose to 2.86 percent.

 

BEIJING (AP) – China says it has filed a World Trade Organization challenge to President Donald Trump’s latest tariff threat, stepping up its diplomatic efforts to counter U.S. pressure in a spiraling technology dispute. The Trump administration has criticized the WTO as unable to deal with the problems posed by China, suggesting a challenge there might have little impact in Washington. But it might help Beijing rally support from governments that criticized Trump for going outside the WTO to impose tariffs on Chinese and other imports.

 

WASHINGTON (AP) – U.S. retail sales rose at a solid pace last month despite higher prices and modest wage gains, a sign of underlying consumer optimism. The Commerce Department says that sales at retailers and restaurants increased 0.5 percent in June, following a big 1.3 percent gain the previous month. May’s figure was revised sharply higher from an initial estimate of 0.8 percent.

 

NEW YORK (AP) – Office space sharing company WeWork says it is no longer serving red or white meat at company events. In an email sent to employees Thursday, company co-founder and Chief Creative Officer Miguel McKelvey said the company won’t serve pork, poultry or red meat, and it won’t allow employees to expense meals that include those meats to the company. Fish will stay on the menu.

 

ATLANTIC CITY, N.J. (AP) – Time is running out for some gambling companies that plan to offer legal sports betting in New Jersey before football season starts. The state Division of Gaming Enforcement has directed the Atlantic City casinos to get their sports betting applications in by the end of the day today. This also includes plans for internet and mobile sports betting, which no casino in New Jersey has yet been approved to offer.

 

 

AP-WF-07-16-18 1425GMT