Stocks mostly higher...Ivanka Trump shuts down fashion line...Lawmakers skeptical of plan to help farmers
NEW YORK (AP) — Stock indexes have ended the day mostly higher several big U.S. companies turned in strong quarterly results. The Dow Jones Industrial Average rose 197 points and the S&P 500 index was up 13, while the Nasdaq composite slipped 1 point. Google’s parent company Alphabet climbed 3.9 percent, Harley-Davidson jumped 7.7 percent and drugmaker Biogen rose 4.1 percent. But appliance maker Whirlpool plunged 14.5 percent after its results came in well under analysts’ forecasts. It says tariffs on imported steel and aluminum are hurting its profits.
NEW YORK (AP) — Oil prices are inching higher. Benchmark U.S. crude climbed 63 cents to settle at $68.52 per barrel in New York. Brent crude, used to price international oils, gained 38 cents to $73.44 per barrel in London.
NEW YORK (AP) — Ivanka Trump is shutting down her fashion line of dresses, shoes and handbags that became a target of political boycotts and spurred concerns about conflicts of interest after her father was elected. The president’s daughter says in a statement that she made the decision so she could focus more on work as a White House adviser. She had stepped away from the day-to-day management of her company when she joined the Trump administration.
WASHINGTON (AP) — Congressional Republicans are expressing deep skepticism of Trump administration’s plan to bail out farms hit by tariffs, saying farmers want free trade, not handouts. Nebraska Sen. Ben Sasse (sas) says Trump’s trade war “is cutting the legs out from under farmers and White House’s ‘plan’ is to spend $12 billion on gold crutches.” Some Senate Republicans say the aid package could help short-term, but they’re worried about losing long-term access to export markets.
WASHINGTON (AP) — House Republicans have launched an effort to expand the massive tax law they muscled through Congress last year. They’re aiming to make permanent the individual tax cuts and small-business income deductions now set to expire in 2026. Texas Republican Kevin Brady, who heads the tax-writing House Ways and Means Committee, says making the tax cuts permanent would build on the tax law’s economic boost by adding 1.5 million new jobs and increasing wages.