>>Ahead Of The Bell
(New York, NY) -- The opening bell rings this morning on Wall Street after stocks closed slightly higher to start the new month. Technology shares trended higher, but gains were muted as Treasury yields soared. Cruise line stocks struggled as Hurricane Beryl churned in the Caribbean. At the closing bell, the Dow Jones Industrial Average rose 50 points to 39-169. The S&P 500 gained 14 points to 54-75. The Nasdaq climbed 146 points to 17-879.
>>Coming Up In The Holiday-Shortened Business Week
(Undated) -- Coming up in the business week - today brings data on construction spending. Things start to rev up on Tuesday with auto sales numbers, word on job openings and remarks from Fed Chair Jerome Powell at the ECB Forum on Central Banking. New York Fed President John Williams speaks the following day at the same event. ADP will also release its employment report on Wednesday and we'll get word on the Fed's June meeting as well as weekly jobless claims - released a day earlier due to the July 4th holiday. Friday brings the monthly jobs report with most analysts expecting a decline from the previous month.
>>Boeing Acquires Spirit AeroSystems In 4.7 Billion Dollar Deal
(Arlington, VA) -- Boeing is acquiring Spirit AeroSystems for four-point-seven billion dollars. The plane manufacturer has long outsourced some of its production to Spirit, but as it looks to improve its safety record, the move could give it more control of the process. This comes as Boeing faces scrutiny from federal regulators and the Justice Department after incidents including a door plug blowing off during an Alaska Airlines flight in January. Boeing CEO said "this deal is in the best interest of the flying public."
>>Cookout Price Up
(Undated) -- The price of a Fourth of July cookout is higher this year. A report from the American Farm Bureau Federation puts the average cost of feeding 10 people at 71-dollars-and-22 cents. That's about three-and-a-half-bucks more than last year.
>>CA Restaurants Get Surcharge Reprieve
(Sacramento, CA) -- California Governor Gavin Newsom is giving restaurants a year to comply with a new state law. Restaurants may continue to put surcharges on a bill as long the amount is clearly stated on the menu. The governor signed an emergency bill this past weekend that exempts restaurants from the ban on hidden fees. Other businesses such as concert venues, hotels and Airbnb locations must reveal the total price upfront.
>>Tom Petty Estate Signs Deal With Warner Chappell Music
(Los Angeles, CA) -- Tom Petty's estate is signing a deal to distribute the late singer's music catalog. Petty recorded more than 13 studio albums with the Heartbreakers and three solo albums over his 40-year career. The Petty Estate said in a statement that the deal with Warner Chappell Music "will open the door to new licensing opportunities."
>>Construction Spending Slows In May
(Washington, DC) -- Construction spending fell slightly in May. New government figures show total spending on construction dipped a tenth of a percent to an annual rate of just over two-trillion dollars in May. The decline surprised industry experts who were expecting a slight increase. Private residential construction fell two-tenths percent as builders scaled back projects nationwide as interest rates remain high.
