Stocks fall as banks rise on earnings and energy declines
Major indices closed mixed with banks rallying on higher rates and Bank of America results while energy shares and oil prices slid. Amazon swung on Prime Day timing before giving back gains. Tribune Media and Sinclair fell after FCC concerns on their $3.9 billion deal.
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Prime Day hiccups hit Amazon during peak shopping day
Amazon faced early glitches on Prime Day with links showing error messages as shoppers tried to order. By 4:30 p.m. many links recovered and Amazon said the event was underway with strong first hour orders, though hiccups risked driving shoppers away.
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Ford to Pay Up To 299 Million in Takata Air Bag Settlement
Ford agrees to spend up to 299 million dollars to settle suits from owners of about six million vehicles with Takata air bag inflators. The plan, awaiting court approval, offers up to 500 dollars for documented expenses and rental cars during recalls plus an outreach program to prompt repairs. Attorneys’ fees capped at 25 percent. The Takata defect has caused at least 23 deaths worldwide.
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Musk tweets draw scrutiny as stake and lawsuits loom
Elon Musk faces questions over a tweet calling a cave diver a pedophile. Investors flee Tesla stock and legal action may follow while Musk posts at high volume amid pressure to boost Model 3 output.
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