Reuters - Daily Investor Update

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Friday, June 2, 2017

Daimler says U.S. expansion not linked to Trump's trade campaign

RASTATT, Germany (Reuters) - German car and truck manufacturer Daimler said its plans to expand manufacturing at a plant in Alabama predates U.S. President Donald Trump's efforts to protect U.S. jobs.

U.S. job growth slows; unemployment rate drops to 4.3 percent

WASHINGTON (Reuters) - U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum despite the unemployment rate falling to a 16-year low of 4.3 percent.

U.S. May jobs data seen supporting bond market: BlackRock

NEW YORK (Reuters) - The U.S. May payrolls report which showed hiring slowed more than forecast would underpin demand for U.S. bonds in the near term, a top bond executive at BlackRock , the world's largest asset manager said on Friday.

Morgan Stanley shuffles wealth management unit

(Reuters) - Morgan Stanley has shuffled its wealth unit, eliminating a layer of management and promoting two key executives, according to a memo reviewed by Reuters on Friday.

Dollar tanks on U.S. jobs data; other reports lift stocks

NEW YORK (Reuters) - The U.S. dollar fell to seven-month lows on Friday after data showed the U.S. economy created fewer jobs than expected in May but Wall Street equities shrugged off the news to hit new highs and an index of global equity markets also set a record.

Akzo responds to PPG approach after takeover battle ends

AMSTERDAM (Reuters) - Akzo Nobel, the Dutch paint maker that rejected a 26.3 billion-euro ($29.6 billion) takeover proposal from U.S. rival PPG Industries , has sent PPG a letter shortly after its suitor walked away, detailing its objections to doing a deal.

Lawsuit accusing Whole Foods of overcharging is revived: U.S. appeals court

NEW YORK (Reuters) - A federal appeals court on Friday ordered Whole Foods Market Inc to face a proposed class-action lawsuit accusing it of overcharging shoppers in New York City by overstating the weight of pre-packaged food in its supermarkets.

Linde turns to winning over investors to Praxair merger

MUNICH (Reuters) - German industrial gases company Linde turned its attention on Friday to winning over investors to its planned $75 billion merger with U.S. peer Praxair , a task that Chairman Wolfgang Reitzle said was not straightforward.

Wall St. at record levels despite tepid jobs report

(Reuters) - U.S. stocks eked out record highs on Friday but gains were limited as data showed job growth slowed in May, suggesting that a bounce in the labor market was losing steam.

U.S. factory activity edges up; private payrolls surge

(Corrects final paragraph in June 1 story following an official correction of layoff data from Challenger, Gray & Christmas)