US stocks lower ... Amazon to roll out Whole Foods delivery ... Another hike in mortgage rates
NEW YORK (AP) — U.S. stocks are lower this morning as losses from the previous day continue. Banks and industrial companies are slipping. Companies including Hanesbrands, Yelp and Roomba maker iRobot are down sharply following disappointing quarterly reports, but Twitter is soaring after it reported a quarterly profit for the first time. Bond prices are falling and yields are rising. At 10:25 a.m. Eastern Time the Dow was down 157 points to 24,736, the S&P 500 dropped 11 points, to 2,671, and the Nasdaq was down 20 points to 7,032.
NEW YORK (AP) — Amazon delivery is coming to Whole Foods. The online retailing giant plans to roll out two-hour delivery at the organic grocer this year to those who pay for Amazon’s $99-a-year Prime membership. The move is the latest by Amazon to put its stamp on its recent purchase of Whole Foods. Amazon has cut prices on bananas, yogurt and other items, and has begun selling Kindle e-readers in some of its 470 stores.
WASHINGTON (AP) — Senate leaders hope to approve a budget deal today to keep the government operating past midnight amid opposition from Democratic liberals and tea-party Republicans. The agreement would shower the Pentagon and domestic programs with an extra $300 billion over the next two years. The measure represents a bitter defeat for many liberal Democrats who sought to use the party’s leverage on the budget to resolve the plight of immigrant “Dreamers” who face deportation after being brought to the U.S. illegally as children.
WASHINGTON (AP) — Long-term U.S. mortgage rates climbed for the fifth straight week amid investors’ growing concern about inflation. Mortgage giant Freddie Mac says the average rate on 30-year, fixed-rate mortgages shot up to 4.32 percent this week, up from 4.22 percent last week and highest since December 2016. The rate on 15-year, fixed-rate loans, popular among homeowners who refinance, rose to 3.77 percent from 3.68 percent last week and highest since May 2011.
MARSEILLE, France (AP) — Workers at retail giant Carrefour (kar-FOOR’) are protesting at hypermarkets across France over mass job cuts made possible by President Emmanuel Macron’s labor reforms. Unions today staged a protest in a province in southern France, marching through the aisles with red flags. It’s part of a string of Carrefour demonstrations around the country this month. Carrefour announced last month that it will invest $3.4 billion over the next five years in online shopping and cut 2,400 jobs.