Dow tops 22,000...Survey: 178,000 jobs added in July...Trump to push immigration changes...Democrats unveil trade proposals
NEW YORK (AP) — Stocks are mixed in early Wall Street trading, but the Dow Jones industrial average is climbing. A big earnings gain from Apple pushed the Dow above 22,000 points for the first time. Apple soared 6 percent in the first few minutes of trading after reporting another strong quarter late yesterday and releasing a strong forecast. Drugmaker Illumina jumped 12 percent after beating its earnings forecasts and issuing a strong outlook.
WASHINGTON (AP) — A private survey has found that U.S. businesses added a solid 178,000 jobs in July. Payroll processor ADP says some of the the biggest gains were in education, health care and shipping. Manufacturers actually cut 4,000 jobs, while construction firms added 6,000. Mining, which includes oil and gas drilling, gained 3,000 jobs. The government releases its July jobs report on Friday.
WASHINGTON (AP) — President Donald Trump plans to join with two Republican senators today to unveil legislation that would place new limits on legal immigration. It would seek an immigration system based on merit and skills instead of family connections. White House officials say the bill will aim to create a skills-based immigration system to make the U.S. more competitive, raise wages and create jobs.
WASHINGTON (AP) — Congressional Democrats are announcing a new set of policies on trade aimed at appealing to working-class voters and regaining advantage on an issue Donald Trump used to great effect during last year’s campaign. Some of the proposals being unveiled today sound like talking points straight from Trump, including renegotiating NAFTA and strengthening “Buy America” policies. Democrats are also proposing a new American Jobs Security Council to review and potentially halt foreign purchases of U.S. companies.
MADISON, Wis. (AP) — Foxconn Technology Group isn’t saying whether it plans to invest $30 billion in the United States, as President Donald Trump claimed he was told by the company’s CEO. The Taiwanese electronics manufacturer has signed a deal with Wisconsin for a $10 billion display panel manufacturing plant. In a statement today, Foxconn reiterated that the Wisconsin plant “will be the first of a series of facilities we will be building in several states” but didn’t address the total investment. The company hasn’t announced its plans for other sites.