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Stocks rise...Tesla shares gain...CFPB advisory panel dissolved

June 6, 2018

NEW YORK (AP) — U.S. stocks are rising for the fourth day in a row as banks rise in tandem with interest rates. Technology companies and smaller, more domestic-focused companies continue to set records as investors monitor trade disputes between the U.S. and other countries as well as global economic growth.

NEW YORK (AP) — Shares in electric car maker Tesla are gaining as investors grow more confident it will meet its production targets for the Model 3 sedan. Chairman and CEO Elon Musk said he expects the company will be able to produce 5,000 of the sedans in a single week by the end of this month.

NEW YORK (AP) — Members of a group of outside experts required by law to meet twice a year with the Consumer Financial Protection Bureau say the group has been dissolved by CFPB head Mick Mulvaney. It’s the latest pro-industry action by the Trump administration since it took over the bureau seven months ago.

BOSTON (AP) — Boston University is pairing with Johnson & Johnson to help fight lung cancer. School officials announced today the company will pay for a new lung center at the university where researchers will work to prevent and cure the disease. It’s part of a five-year research partnership between the school and Johnson & Johnson Innovation, a development arm of the New Jersey-based health care products company.

NEW YORK (AP) — Facebook says it will fund original news shows created by such news organizations as ABC, CNN and Mic. The move comes as Facebook plans to kill off its “trending” news section to make way for what it considers “trustworthy” and “informative” news.

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