Markets mostly down … Oil sags … Bright picture
UNDATED (AP) – Global shares were mostly lower today following Friday’s steep slide in technology shares on Wall Street. The future for the S&P 500 lost 0.1 percent and the future for the Dow lost 0.2 percent.
NEW YORK (AP) – Benchmark U.S. crude lost 44 cents to $67.96 per barrel in electronic trading on the New York Mercantile Exchange. On Friday it gained 7 cents. Brent crude sagged 39 cents. The dollar rose to 108.19 yen from 107.64 yen on Friday.
SEOUL, South Korea (AP) – General Motors says it’s reached a tentative agreement with its South Korean labor union on measures to cut costs and allocate new car models to GM Korea factories. The union will vote on the deal later this week.
SHANGHAI (AP) – Companies are complaining that Alibaba punished them after they refused to enter exclusive partnerships with the e-commerce giant. Five major consumer brands tell the AP that after they rebuffed Alibaba, traffic to their products fell.
WASHINGTON (AP) – America’s business economists are sketching a bright picture for the coming months. A survey finds that more of their companies foresee rising sales and expect to continue hiring and raising pay.