Wall Street snaps 4-day losing streak ... Amtrak-New CEO ... Senate-Health Care Overhaul
NEW YORK (AP) — U.S. stock indexes closed mostly higher today, snapping a four-day losing streak for the Dow Jones industrial average on a day of largely listless trading. Utilities led the gainers as falling bond yields made high-dividend companies more attractive to income-seeking investors. Financial stocks also did well. Technology companies declined the most, giving up gains from an early rally. The Standard & Poor’s 500 index added 0.77 points, while the Dow gained 14.79 points and the Nasdaq composite slid 18.10 points.
WASHINGTON (AP) — America’s railroad is turning to an airline industry veteran to lead it through a summer of reckoning for congested tracks and crumbling infrastructure. Amtrak has named former Delta Air Lines chairman Richard Anderson as its new president and CEO. He’ll take charge of the government-owned railroad on July 12 as it rushes to address years of deferred maintenance at New York’s Penn Station.
WASHINGTON (AP) — In a blow to the hopes of Senate Republican leaders, the Congressional Budget Office reported today that the GOP’s health care overhaul bill Republican health care bill would leave 22 million more Americans uninsured in 2026 than under President Barack Obama’s health care law. The 22 million additional people without coverage is just a hair better than the 23 million who would be left without insurance under the measure the House approved last month.
HUNTSVILLE, Ala. (AP) — A private spaceflight company owned by Amazon-founder Jeff Bezos plans to build a powerful new rocket engine in Alabama for space flight. That’s according to company and state officials who made the announcement Monday. Blue Origin President Robert Meyerson said his company is seeking a production contract with United Launch Alliance, a private company that provides satellite launches for the U.S. government and others.
UNDATED (AP) — BMW says it will invest an additional $600 million to expand its South Carolina plant, creating 1,000 new jobs over the next four years. CEO Harald Krueger’s announcement today coincided with the German automaker’s celebration of 25 years of manufacturing in the state. BMW, which has already invested $8 billion in South Carolina, also unveiled its 2018 BMW X3, a compact sports vehicle expected to be available in November. It will be built at the plant in Greer alongside the BMW X4, X5 and X6.