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Stocks mixed...US, Canada agree to lift steel tariffs...House leaders to meet with Mnuchin, Mulvaney

May 17, 2019

NEW YORK (AP) _ Stock indexes are mixed in afternoon trading on Wall Street, as falling technology, industrial and energy stocks offset gains in health care, utilities and other sectors. Deere was the biggest decliner in the S&P 500 after the tractor maker cut its profit forecast for the year, citing slower sales from farmers worried about exports, among other factors. Small company stocks are falling more than the rest of the market.

WASHINGTON (AP) — The United States has agreed to remove steel and aluminum tariffs on Canada in what was a key roadblock to a new trade deal and a sore point in relations. Canada, in turn, has agreed to scrap the tariffs it imposed in retaliation. In a joint statement today, the two countries said they have agreed to eliminate the tariffs within 48 hours. Sources in the U.S. and Canada say the Trump administration also has reached a deal to remove steel and aluminum tariffs from Mexico.

WASHINGTON (AP) _ House Speaker Nancy Pelosi and other congressional leaders have arranged to meet with Treasury Secretary Steven Mnuchin (mih-NOO’-shin) and acting White House chief of staff Mick Mulvaney next week. They want to explore an agreement to increase the government’s borrowing cap, as well as legislation to stave off a severe round of cuts to agency budgets and the Pentagon.

HOUSTON (AP) _ United Airlines will lay off about 100 Houston employees and shift their work to an outside company. The employees handle accounting of passenger revenue. Chicago-based United is the result of a 2010 merger with Continental Airlines, which was based in Houston. United has about 12,000 employees in Houston.

BOSTON (AP) _ Massachusetts marijuana regulators have approved a plan to slowly roll out “cannabis cafes” where adults could use pot in a social setting. The 3-2 vote by the Cannabis Control Commission yesterday calls for an initial test program in as many as a dozen cities or towns where licenses would be granted. The program, however, would first require the Legislature to make a change in state marijuana laws.

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