Stocks mixed...US Steel restarts construction...Chipotle enlists documentary maker
NEW YORK (AP) — Stocks are mixed in afternoon trading as Wall Street nears the end of a relatively strong earnings season and looks ahead to key trade talks between the U.S. and China. Treasury Secretary Stephen Mnuchin is leading a delegation set to meet with Chinese officials on Thursday and Friday. The talks are aimed at resolving a trade war that threatens to stunt global economic growth.
NEW YORK (AP) — Corporate earnings are so far mixed on a light day for reporting. The owner of Tim Horton’s and Burger King, Restaurant Brands, jumped after reporting strong earnings results. Commercial insurer Loews plunged on a fourth-quarter loss caused by higher catastrophe losses.
BIRMINGHAM, Ala. (AP) — U.S. Steel Corp. says it’s restarting construction on an idled manufacturing facility in Alabama, and it’s giving some of the credit to President Donald Trump’s trade policies. The Pittsburgh-based company says what it calls Trump’s “strong trade actions” are partly responsible for the resumption of work on an advanced plant near Birmingham. The administration’s tariffs have raised prices on imported steel and aluminum.
NEW YORK (AP) — President Donald Trump plans to sign an executive order directing federal agencies to prioritize research and development in artificial intelligence. The plan, called the American AI Initiative, comes after China and other countries have pledged big investments to advance and apply AI technology in fields ranging from warfighting to health care.
NEWPORT BEACH, Calif. (AP) — Chipotle is teaming up with Oscar-winning documentary filmmaker Errol Morris for a series of ads touting its fresh ingredients. The digital and television spots show employees making guacamole, grilling chicken and chopping green peppers while Morris chats with them from behind the camera. Some ads will also feature the farmers who supply Chipotle’s ingredients. The ads could help improve the chain’s reputation after multiple food poisoning outbreaks. The most recent one sickened more than 600 people last summer.