Nasdaq closes at new high as tech leads gains
Technology stocks push indices higher with the Nasdaq at an all time close led by Apple Microsoft and Broadcom amid M A tensions energy and materials lag while defense stocks rise on Trump spending push. Broadcom offers 18.9 billion for CA spurring a selloff in Broadcom stock. Comcast and Sky merger talks continue as Disney and Fox navigate bids. CVS and Aetna edge up on DOJ merger clearance. AT T slips after Time Warner deal ruling appeal.
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China calls on U S firms to lobby over trade dispute
Beijing pressed American companies to lobby U S leaders amid stalled talks on tariffs. Gao Feng said U S firms should safeguard their interests as Washington weighs broader duties. The exchange follows new tariffs on 34 billion dollars of goods and threatens a second round targeting up to 200 billion dollars.
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Trump DOJ appeals AT&T Time Warner merger ruling
The Trump Justice Department filed a DC Circuit appeal after U S District Judge Richard Leon dismissed objections to AT T s 81 billion takeover of Time Warner owning CNN HBO Warner Bros and other assets The case centered on whether the vertical merger would harm competition and raise prices in streaming and related services.
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Powell sees economy in a good place amid low unemployment
Federal Reserve Chair Jerome Powell told Marketplace that the economy is in a good place with unemployment at 4 percent and inflation near 2 percent. He warned rising trade tensions and tariffs could slow growth even as the Fed signals continued gradual rate hikes.
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