NEW YORK (AP) — Stocks ended another bumpy week with more losses Friday as investors considered the downside of the still-strong U.S. jobs market. The S&P 500 fell 1.6%, marking its eighth losing week in the last nine. Losses in big technology companies helped pull the Nasdaq down 2.5%. The Dow Jones Industrial Average lost 1%
Tesla shares tumbled more than 7% Friday on a report that CEO Elon Musk is considering laying off 10% of the company’s workers, as well as new questions from U.S. regulators over complaints of vehicles braking for no reason.
Congressional Democrats are accusing Amazon of obstructing their investigation into the company's labor practices during severe weather events. Amazon's policies have been under scrutiny since the deadly collapse of a company warehouse last year in Edwardsville, Illinois. Regulators found Amazon’s Edwardsville facility met minimal federal safety requirements for storm sheltering, but said it had other safety risks.
DETROIT (AP) — More than 750 Tesla owners have complained to U.S. safety regulators that cars operating on the company's partially automated driving systems have suddenly stopped on roadways for no apparent reason. The National Highway Traffic Safety Administration revealed the number in an information request letter to Tesla that was posted Friday on the agency’s website.
TOKYO (AP) — Global shares have risen amid mixed signs for investors such as rising energy prices and COVID-19 restrictions easing in China. Shares in France and Germany were higher in early trading, but markets were closed in Britain and China for national holidays.
NEW YORK (AP) — The stock market shook off a wobbly start and ended broadly higher Thursday, marking its first gain in this holiday-shortened week. Technology stocks were among the winners as Microsoft erased an early loss. Trading has been choppy in recent days as investors remain worried about inflation and the interest rate increases the Federal Reserve is using to fight it.
WASHINGTON (AP) — This is expected to be the best summer job market for teens in 15 years. Researchers at Drexel University’s Center for Labor Markets and Policy predicted in a report last month that an average of 33% of youths ages 16 to 19 will be employed each month from June through August this year, the highest such rate since 34% in the summer of 2007.
WASHINGTON (AP) — Fewer Americans applied for jobless aid last week and the number of Americans collecting unemployment remain at historically low levels. Applications for unemployment benefits fell by 11,000 to 200,000 for the week ending May 28, the Labor Department reported Thursday.
NEW YORK (AP) — Wall Street was pointed toward gains in premarket trading Thursday morning and oil prices fell ahead of an OPEC meeting where oil-producing countries are expected to decide on output targets. Futures for the S&P 500 and Dow Jones industrials gained 0.5% following mixed trading in global markets.
NEW YORK (AP) — A swift jump in Treasury yields rattled Wall Street Wednesday, weighing down stock indexes at the start of another month in what’s been a turbulent year. The S&P 500 fell 0.7% after an early morning gain quickly vanished. Stocks began their slide immediately after the release of several reports on the U.S. economy, including one showing manufacturing growth was stronger last month than expected. That bolstered investors’ expectations for the Federal Reserve to continue raising interest rates aggressively to slow the economy in hopes of reining in inflation. Treasury yields rose sharply, sending the yield on the 10-year note up to 2.92%.