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Stocks dip...Jobs report coming...G20 meeting begins

July 7, 2017

SEOUL, South Korea (AP) — Global markets are mostly lower as investors fret over the European Central Bank’s unwinding of stimulus programs and await the outcome of the Group of 20 summit, which is under way in Hamburg, Germany. Futures point to a lower opening on Wall Street. Benchmark U.S. crude oil lost more than a dollar to fall below $44.50 per barrel. The dollar gained against the yen and the euro.

WASHINGTON (AP) — Eight years after the Great Recession ended, the economy is steadily churning out jobs, and the unemployment rate is at a 16-year low. Yet for most Americans, a key measure of economic health — pay growth — still lags behind pre-recession norms. That isn’t likely to change today, when the Labor Department releases the U.S. jobs report for June. Economists have forecast that employers added a solid 177,000 jobs last month and that the unemployment rate remained 4.3 percent, the lowest level since 2001.

HAMBURG, Germany (AP) — Leaders of China, India, Russia, Brazil and South Africa have met on the sidelines of the G-20 summit in Germany, calling for a more open global economy. Speaking at the meeting, Russian President Vladimir Putin spoke against global trade restrictions, saying that financial sanctions under political pretexts hurt mutual confidence and damaged the global economy — an apparent reference to Western sanctions against Russia.

WASHINGTON (AP) — For the first time in decades, the United States got more electricity from renewable sources than nuclear power in March and April. The U.S. Energy Information Administration said Thursday that electricity production from utility-scale renewable sources exceeded nuclear generation in the most recent months for which data is available. That’s the first time renewable sources have outpaced nuclear since 1984. The growth in renewables was fueled by scores of new wind turbines and solar farms, as well as recent increases in hydroelectric power.

SEOUL, South Korea (AP) — Samsung Electronics is on a roll thanks to booming sales of memory chips required by the increasingly data-based economy. The company, the world’s largest supplier of memory chips, says its operating profit soared 72 percent in the April-June quarter over a year earlier to a record high. Samsung has the most advanced memory chip production technology. The results beat expectations, putting Samsung on track for its highest profit ever in 2017.

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