NEW YORK (AP) — Stocks and bond yields are higher on Wall Street after the government reported a big increase in hiring last month. Investors were relieved to see that wage growth slowed down. A jump in wages a month ago raised worries about inflation and spooked investors. Technology companies are climbing and banks are rising in tandem with interest rates. Today marks the ninth birthday of the current bull market, which is the second-longest since World War II.
NEW YORK (AP) — The self-promoting “Pharma Bro,” who was vilified for jacking up the price of a lifesaving drug, has been sentenced to prison for securities fraud. Pharmaceutical executive Martin Shkreli (SHKREL’-ee) was sentenced today by a federal judge in New York. He was convicted last year of lying to investors in two failed hedge funds. Shkreli cried as he told the judge that he made many mistakes and he apologized to investors.
BRUSSELS (AP) — Dutch Prime Minister Mark Rutte says the European Union must make clear it is prepared to take “counter-measures” if efforts to turn back planned U.S. tariffs on steel and aluminum fail. He calls President Donald Trump’s tariffs decision “very disappointing.” The Netherlands exported some $675 million worth of steel worldwide last year and Rutte says the United States is the biggest market outside Europe.
NEW YORK (AP) — Shares in Netflix have reached an all-time high after the New York Times reported that the streaming service is negotiating with Barack Obama to have the former president and his wife Michelle produce shows. The two sides haven’t confirmed that they are in talks. GBH Insights analyst Daniel Ives said a deal with the Obamas would be “another major win for Netflix” as it tries to launch more and more original shows.
NEW YORK (AP) — The Wall Street Journal is reporting that Goldman Sachs Chief Executive Officer Lloyd Blankfein is planning on retiring as soon as the end of this year. Blankfein has run Goldman since 2006, and ran the New York firm through the housing market bubble and subsequent financial crisis. Goldman emerged from the crisis a transformed firm, trying to focus less on trading, and is now exploring new businesses like consumer loans.