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NEW YORK (AP) — Technology stocks are among the biggest gainers in early trading on Wall Street today. Energy stocks are lagging the broader market. At 10:50 a.m. Eastern Time, the Dow was up 17 points at 21,413. The S&P 500 was up 3 points at 2,441. And the Nasdaq dropped 8 points to 6,257. Investors bid up shares in several financial companies. Goldman Sachs Group gained 1.3 percent. American Express rose 1.2 percent. Bond prices rose. The 10-year Treasury yield fell to 2.13 percent from 2.14 percent late Friday.
WASHINGTON (AP) — Demand for long-lasting U.S. factory goods fell by the most in 18 months, and a key category that tracks business investment also slipped, evidence that manufacturing output is barely growing. The Commerce Department says orders for durable goods — items meant to last at least three years — slid 1.1 percent in May. It was the second straight decline.
NEW YORK (AP) — The federal securities fraud trial of former pharmaceutical CEO Martin Shkreli (SHKREL'-ee) begins today in New York City with jury selection. Shkreli is accused of looting a pharmaceutical company for $11 million to pay back millions of dollars he allegedly lost in bad trades through a side business hedge fund. Shkreli is most known for hiking the price of another drug company's medication to treat toxoplasmosis and HIV, from $13.50 to $750 per pill.
BRUSSELS (AP) — The European Union's top trade official says the bloc is preparing retaliatory measures in case the United States goes ahead with plans to impose steel tariffs on imports. EU Trade Commissioner Cecilia Malmstroem says the bloc will study any action by Washington to see whether the move complies with the rules of the World Trade Association, the body that oversees global trade.
NICOSIA, Cyprus (AP) — Cyprus will be building Europe's largest casino. Cyprus today signed a deal with a consortium made up of Melco International, Hard Rock and Cypriot CNS Group. Officials say the casino will cost more than 500 million euros ($558 million) to build and will create around 4,000 new jobs. The casino will include 136 gambling tables and 1,200 gambling machines. There'll be an adjoining 500-room luxury hotel.
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