The Other Side of Life 24/7: Daily Investor Briefing: Jobs drive Dow, S&P 500 to records in...

Thursday, July 3, 2014

Daily Investor Briefing: Jobs drive Dow, S&P 500 to records in...

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07/3/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Jobs drive Dow, S&P 500 to records in short session

NEW YORK (Reuters) - Wall Street's holiday-shortened session ended with multiple records on Thursday, with the Dow topping 17,000 for the first time after the June jobs report came in much stronger than expected.

U.S. job growth surges, unemployment rate near six-year low

WASHINGTON (Reuters) - U.S. employment growth jumped in June and the jobless rate closed in on a six-year low, decisive evidence the economy was moving forward at a brisk clip after a surprisingly big slump at the start of the year.

Double-digit profit growth may return in second quarter

NEW YORK (Reuters) - With all the hoopla over the Dow topping 17,000 out of the way, the market's next focus will be whether the fast-approaching earnings season can justify U.S. stocks continuing their climb further into record territory.

Amex set to face U.S. in antitrust trial over credit card fees

NEW YORK (Reuters) - American Express Co is set to face off against the U.S. government and 17 states in a trial that begins on Monday over claims that it stifles competition from credit card providers that charge lower processing fees.

GM switch complaints began 17 years ago, long before Cobalt

DETROIT (Reuters) - General Motors car owners have been complaining to dealers about defective ignition switches since 1997, years before the automaker launched the Chevrolet Cobalt and other small cars with faulty switches linked to at least 13 deaths.

Amazon's Luxembourg taxes under scrutiny: FT

(Reuters) - European officials have asked Luxembourg to hand over documents relating to U.S. online retailer Amazon's tax affairs in the country, the Financial Times reported on Thursday, citing official sources.

BMW's $1 billion plant surfs Mexican investment wave

MEXICO CITY (Reuters) - Luxury car maker BMW revealed a $1 billion Mexican plant investment on Thursday, becoming the latest in a line of major automakers to take advantage of the country's growing industrial base and tariff-free access to the U.S. market.

Former Peugeot chairman quits board over public dissent

PARIS (Reuters) - PSA Peugeot Citroen's deputy chairman Thierry Peugeot was forced out on Thursday after voicing renewed public dissent over a French-backed tie-up with Dongfeng that he had unsuccessfully opposed as chairman.

Merkel urges big push on EU-U.S. free trade deal

BERLIN (Reuters) - Germany's Angela Merkel made a strong plea on Thursday for the European Union and the United States to complete their talks about forming a new transatlantic free trade area.

Mercedes touts self-driving trucks for haulage savings

MAGDEBURG Germany/PARIS (Reuters) - Balding middle-aged trucker Hans Luft was toying conspicuously with an iPad behind the wheel of his 40-tonne heavy goods vehicle as it hurtled down the autobahn under the approving gaze of assembled Daimler executives.