Stocks broadly higher...Micron falls...Farmers tested
NEW YORK (AP) — Stocks are broadly higher in early trading, extending gains from a day earlier when the market climbed to all-time highs. Technology companies accounted for much of the market’s gains. Retailers and other consumer-focused stocks also rose. Utilities and other high-dividend paying stocks lagged. Oil prices were headed higher.
NEW YORK (AP) — Shares in Micron fell 3.7 percent after the chipmaker said its profits would be hurt by tariffs on Chinese imports that go into effect on Monday. The latest U.S. tariff hike on Chinese goods in a dispute over Beijing’s technology policy involves an additional 10 percent tax on $200 billion of Chinese imports. The tariffs will rise to 25 percent on Jan 1.
MOSCOW (AP) — The Kremlin is dismissing the latest round of U.S. sanctions that affected an aircraft-making factory as an “unfair” move to undercut Russia as a major arms exporter. The United States yesterday blacklisted 33 Russian nationals and three entities in a new round of sanctions for the Russian interference in the 2016 election. One of the companies is an aircraft-making factory in Russia’s Far East.
LONDON (AP) — The pound has fallen further after British Prime Minister Theresa May took a tougher line in the Brexit talks. The currency was down a sharp 1.5 after May said Brexit negotiations are “at an impasse” after the European Union rejected her proposals for leaving the bloc.
RALEIGH, N.C. (AP) — Hurricane Florence is testing the resolve of farmers in the Carolinas, who could face billions of dollars in agricultural damage while still feeling the sting from Hurricane Matthew in 2016. Early farm reports confirm pre-storm worries about losses to tobacco, cotton and corn crops. North Carolina industry leaders remain anxious about whether sweet potatoes and peanuts will suffer greatly as well.