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Groton Daily Independent
Saturday, June 09, 2018 ~ Vol. 25 - No. 330 ~ 57 of 59
“They show up in the data as standard employees.” ___
SO WHAT DOES IT MATTER?
The government’s report was the subject of intense interest in part because of the impact it might have on the policy debates surrounding independent work.
Freelance advocates say their ranks are growing steadily. Many say policymakers should consider ways to help them, such as by making health and retirement benefits more portable from job to job. But if independent work isn’t growing much, than such changes aren’t as urgent.
“If we don’t understand the labor market in the United States, we won’t have policies that reflect how it works,” said Stephane Kasriel, CEO of Upwork, an online freelance marketplace.
After an early stumble, US stock indexes end modestly higher By MARLEY JAY, AP Markets Writer
NEW YORK (AP) — The stock market shook off a bumpy start and ended modestly higher Friday, led by gains in consumer products companies like Monster Beverage and Procter & Gamble. Health care compa- nies also rose. Energy companies slipped along with the price of oil.
Trading has been muted ahead of the Group of Seven summit in Quebec, which began Friday. The meeting is expected to be tense as other leaders confront President Donald Trump over his protectionist trade policies.
Consumer products companies, which have been out of favor the last few months, rose for the second day in a row. Overall, major indexes were mostly higher after posting small losses the day before.
The G-7 meeting was set to be unusually contentious, as leaders of France and Canada in particular have expressed in tough terms their disapproval of the tariffs President Donald Trump recently imposed on steel and aluminum imports. Trump is expected to leave the summit on Saturday before it officially concludes as he heads to Singapore ahead of his meeting with North Korean leader Kim Jong Un.
Trade tensions have been rattling markets for the last three months, and the G-7 summit isn’t expected to deliver much relief. That said, there could be a silver lining to the ongoing talks between the U.S. and its trading partners over the highly unpopular U.S. tariffs, according to Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute.
“The end result probably is going to be lower tariffs across the board,” Wren said. Wren said that ul- timately a large number of older tariffs that are currently levied on U.S. imports and exports could be reduced or eliminated.
The S&P 500 index added 8.66 points, or 0.3 percent, to 2,779.03. The Dow Jones industrial average rose 75.12 points, or 0.3 percent, to 25,316.53. The Nasdaq composite gained 10.44 points, or 0.1 percent, to 7,645.51.
The Russell 2000 index of smaller-company stocks rose 4.72 points, or 0.3 percent, to 1,672.49. Smaller and more U.S.-focused stocks have fared better than the rest of the market in recent months as inves- tors worry that trade frictions could impact large multinational companies. The Russell is on a six-week winning streak.
Wall Street appeared to get ever so slightly less worried about the trade situation this week. The Dow has taken a bigger hit from the trade disputes than other U.S. indexes, but this week was its best in three months. The Nasdaq and Russell 2000 reached all-time highs on Wednesday.
Among consumer products makers, Monster Beverage climbed 5 percent to $55.48 after its annual shareholder meeting. Stifel analyst Mark Astrachan said the company’s sales growth is solid. He said the company plans to raise its U.S. prices later this year in response to higher aluminum prices.
Tide maker Procter & Gamble gained 1.9 percent to $77.18. Cigarette maker Philip Morris International rose 2.6 percent to $79.42 after it raised its quarterly dividend, while Reuters said the company plans to start selling its tobacco-heating Iqos device in India.
U.S. crude slid 0.3 percent to $65.74 a barrel in New York. Brent crude, used to price international oils,