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MONEY NEWS FROM THE ASSOCIATED PRESS

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  • Business Highlights

    ___ Possible outcome of Trump-Xi meeting: A truce in trade war WASHINGTON (AP) — If history repeats itself — and most analysts are betting it will — Presidents Donald Trump and Xi Jinping will agree to some kind of cease-fire when they meet late this week at a Group of 20 international summit in Osaka, […]
  • AbbVie, Lennar and FedEx fall while Bausch Health rises

    NEW YORK (AP) — Stocks that moved substantially or traded heavily on Tuesday: AbbVie Inc., down $12.75 to $65.70 The pharmaceutical company is buying Botox maker Allergan in a cash-and-stock deal valued at around $63 billion. Bausch Health Companies Inc., up 62 cents to $24.38 The health care products company said it will pay down […]
  • US government investigating poultry price-fixing claims

    CHICAGO (AP) — The U.S. government is investigating price-fixing charges against the country’s biggest poultry companies. The Department of Justice tipped its hand last week when it requested a temporary halt to discovery proceedings in a 2016 class-action lawsuit filed by food service distributor Maplevale Farms. Falconer, New York-based Maplevale Farms accuses Tyson Foods Inc., […]
  • Tariff concerns, 3Q outlook drag Lennar’s stock down

    MIAMI (AP) — Tariff concerns and a disappointing third quarter outlook are weighing on Lennar Corp.’s stock even as the homebuilder’s second quarter performance topped analysts’ estimates. President Jonathan Jaffe said during a conference call that tariffs are a headwind on material cost. “First, it was 10% tariff on Chinese goods that took place last […]
  • Powell says economy facing growing uncertainties

    WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday the outlook for the U.S. economy has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to the Council on Foreign Relations in New York, Powell said the […]
  • Millennial Money: How to join the cannabis business boom

    Marijuana is having a moment. Experts recently dubbed cannabis the fastest-growing industry in the U.S. Legal weed generated $10.4 billion in the United States in 2018, and the number of “plant-touching” jobs is expected to pass 500,000 by 2022 , according to New Frontier Data, a cannabis market research and data analysis firm. Investors have […]
  • Stocks move lower on economic data, Powell remarks

    Technology and internet companies led a broad slide for U.S. stocks Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve weighed on the market. The sell-off marked the third straight loss for the market and the biggest drop this month for the Dow Jones Industrial Average and the S&P […]
  • US consumer confidence hits lowest level since September ’17

    WASHINGTON (AP) — U.S. consumer confidence dropped to the lowest level since September 2017 as heightened trade tensions apparently took a toll on Americans’ spirits. The Conference Board, a business research group, says its consumer confidence index fell to 121.5 in June from a revised 131.3 in June after rising in April and May. The […]
  • US new-home sales fell 7.8% in May

    WASHINGTON (AP) — Sales of new U.S. homes slumped 7.8% in May, as sales plunged in the pricier Northeastern and Western markets. The Commerce Department said Tuesday that new homes sold at a seasonally adjusted annual rate of 626,000 in May, down from 679,000 in April. During the first five months of the year, purchases […]
  • Markets Right Now: Stocks drop on economic worries

    NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing lower on Wall Street Tuesday with technology and communications stocks leading the declines. Reports showing a drop in consumer confidence and weakness in the housing market, plus some cautionary remarks from the head of the Federal […]