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Newspaper
Sun Journal
Location
New Bern, North Carolina, United States of America
Date
Mar 05, 2019
Page
8
U S construction spending fell 0.6 percent in December led by a 1.4 percent drop in residential work while nonresidential activity rose 0.4 percent and government projects declined 0.6 percent. 2018 total rose 4.1 percent to 1.3 trillion, a record but the smallest gain since 2011.
AT&T completes its Time Warner deal and reorganizes WarnerMedia to prioritize streaming over traditional cable. Robert Greenblatt named chairman of entertainment and streaming. HBO, TNT, TBS, and truTV oversight shift from separate to unified leadership. Also aims to boost original content and reduce costs with potential layoffs.
Health care and technology shares led a broad market pullback on Wall Street as investors awaited details on possible U S China trade deal progress. The S P 500 slipped 0 4 percent to 2792 81 while the Dow fell 0 8 percent to 25819 65 and the Nasdaq eased 0 2 percent. UnitedHealth slid 4 1 percent, Salesforce 3 7 percent, and Children's Place tumbled 10 3 percent after weak fourth quarter guidance. The Russell 2000 dropped 0 9 percent amid risk-off trading.
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