Dow digging out...Tensions roil oil...Another Perdue Pharma suit
NEW YORK (AP) _ Stocks clawed higher in afternoon trading and regained some of the ground they lost in a rout a day earlier brought on by anxiety over worsening trade relations between the U.S. and China. Technology stocks and banks led the market higher. Qualcomm and Cisco rose. Disney rose after announcing a deal with Comcast to take full control of Hulu. Amazon, Mattel and other companies that cater to consumers also ticked higher. Utilities lagged the market.
LONDON (AP) _ The British prime minister’s office says Theresa May will try again next month to secure Parliament’s backing for a deal to leave the European Union. Downing Street said Tuesday that May intends to ask lawmakers to vote on a withdrawal agreement bill starting the week of June 3. Parliament has three times rejected the divorce deal May and the EU struck late last year. But May’s spokesman says it is “imperative” for the deal to win approval before Parliament starts its summer break in late July.
DUBAI, United Arab Emirates (AP) —Saudi Arabia says an oil pipeline that runs across the country was hit by drones as regional tensions flared just days after what the kingdom says was an attack on two of its oil tankers in the Persian Gulf. The volatility was felt in oil markets with benchmark Brent crude trading over $71 a barrel, up more than $1 on the day.
PHILADELPHIA (AP) _ The attorney general of Pennsylvania says in a new lawsuit that the maker of OxyContin had sales representatives promoting the powerful opioid painkiller to doctors even when they realized they were prescribing to addicts. Pennsylvania is at least the 39th state to sue Purdue Pharma over the toll of opioids. The company says the state is part of campaign to harm public opinion of the company.
SANTA CLARA, Calif. (AP) _ Intel has revealed another hardware security flaw that could affects millions of machines around the world. The chipmaker said Tuesday there’s no evidence of bad actors exploiting the bug, which is embedded in the architecture of computer hardware. Intel says it could give let attackers see leaked data but it’s difficult to exploit outside of a laboratory.