Stocks gain...EU to act on steel...Jobless rate at 4 percent
NEW YORK (AP) — Stocks are solidly higher, as traders shrug off concerns about the start of a tariff fight between the U.S. and China. While the initial amounts of tariffs aren’t all that high, costs could soar across the board for business and consumers if the conflict escalates. Investors are hoping that won’t happen. They’ve also been encouraged by a solid pickup in hiring by U.S. employers last month.
BRUSSELS (AP) — The European Union says it will soon take action to prevent steel produced for the U.S. market from flooding into Europe due to tariffs introduced by President Donald Trump. The EU’s executive commission says it plans to formally adopt this month a tariff rate quota to protect the European market. No exact date was given.
WASHINGTON (AP) — Employers added 213,000 jobs in June, as the unemployment rate rose to 4 percent. But it climbed for an encouraging reason: More people came off the sidelines and began looking for a job, though not all of them immediately found one.
WASHINGTON (AP) — Professional and business services drove nearly a quarter of U.S. job growth in June. The category, which includes computer systems designers, engineers, consultants and administrative staff, added 50,000 jobs during a robust month of hiring. Over the past year, it has added more than a half-million jobs.
NEW YORK (AP) — Mazda is recalling nearly 270,000 vehicles with Takata airbags that have the potential to explode. Over the last several years, about 50 million air bag inflators have been recalled in the U.S., with 22 deaths and more than 180 injuries linked to the defect.