June hiring surge signals economy resilience
Employers added 222000 jobs in June with revisions higher for prior months, keeping average gains near 180000 per month this year. Unemployment rose to 4.0 percent as more workers entered the labor force, while pay rose 2.5 percent year over year and wage growth lags inflation.
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Jobs report boosts stocks on June gains
U S stocks rose on Friday after the government reported stronger hiring in June. Tech and consumer stocks led with Amazon McDonalds Facebook Microsoft lifting indices while Nvidia Apple Alphabet slipped. The Dow rose to 21 414 34 the S&P 500 at 2425 18 and the Nasdaq at 6153 08.
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Whole Foods had six other suitors before Amazon deal
A regulatory filing shows six other suitors including three grocery firms and four private equity players explored options with Whole Foods Market prior to Amazon’s 13.7 billion takeover. One potential bidder was unnamed industry participant Company X linked to Albertsons as per Reuters.
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Gas tank flange recalls threaten millions of vehicles
Regulators and automakers pursue defective gas tank flanges from Continental Automotive to 11 automakers and five suppliers. VW Porsche and Audi have recalled about 500000 vehicles for leaks from cracked polymer flanges covering fuel pump openings. The probe follows Continental recall documents filed this week.
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