Asian stocks fell as reports surfaced that North Korea was expected to open diplomatic channels with South Korea and China ahead of a planned summit between Kim Jong Un and President Trump. The MSCI All-Country World Index was down 0.4 percent. On Wall Street, the Dow Jones Industrial Average gained 49.53 points, or 0.22 percent, to 25,381.77 and the S&P 500 rose 8.83 points, or 0.29 percent, to 2,866.18. The Nasdaq Composite gained 38.97 points, or 0.63 percent, to 7,794.44.
World oil prices edged up as an escalation of trade tensions between the U.S. and China sparked fears about slowing global economic growth and reduced demand for oil. Benchmark Brent crude oil jumped 1.9 percent to $73.30 per barrel. U.S. crude added 1.4 percent to $68.36 per barrel.
THE DAILY ROUNDUP
AFL-CIO HITS A MICHELLE BREWER, SAYS WEB SITE, UPCOMING NOVA SCOTTISH CURRENCY USE RISKS LAWSUITS
Michelle Brewer, who lives in Flint, Michigan, said: “I went to the carport in my neighborhood and got up really early yesterday morning. I put my daughter to bed. I dropped off my kids at school, went to the morning coffee at the Silverado, which is my local market. I went to the plant and then went to the drive thru.”
One hour later, Brewer was holding a pamphlet announcing that her business, Husky Shifters, a step-dancing business, had been suspended by the American Federation of State, County and Municipal Employees. The AFSCME, said in a statement the company’s use of the word “sanctioned” was “outrageous.”
“We’re calling on AFSCME to open their membership to independent companies and let workers choose how they want to do business,” she said.
Several labor groups across the country have also criticized the company, saying Husky Shifters has failed to provide benefits and health care to its workforce or provide a fair wage. Husky’s practices have drawn the attention of local municipalities, including Birmingham, Michigan, and Pontiac, Michigan.
UNESCO, CURIC OF CONCERN OVER ‘MANDATORY’ CAMARADERIE
The World Monuments Fund and the American Ireland Fund hosted a discussion with UNESCO Director-General Audrey Azoulay, who warned that “time is short” to save “more than 3,000 great arts and cultural treasures threatened by the upcoming U.S. withdrawal from UNESCO.”
Azoulay said she regretted that the U.S. President “at a moment when global heritage is in danger cannot see the [lessons] that UNESCO and others in UNESCO have been trying to convey in this troubled moment.”
She said UNESCO had encouraged the U.S. to reaffirm its support for UNESCO and culture and said it was doing its best to preserve the World Heritage sites in Syria.
“Despite all these efforts, these sites risk being lost forever if they are no longer protected. By unilaterally removing the U.S. from the World Heritage List, the U.S. is not only doing grave damage to their sites but also contributing to the marginalization of people of those parts of the world with the most need to improve their situations.”