A volatile trading session on Wall Street, with investors still fretttng about the prospect of the U.S. imposing higher tariffs on Chinese imports beginning tomorrow. The Dow Industrials slid 139 points, the Nasdaq Composite dropped 32, and the S&P 500 eased 8.
Oil futures ended modestly lower. June crude fell 42 cents to settle at $61.70 a barrel.
Chevron stockholders seem to be fine with the company’s decision not to submit a new offer for Anadarko Petroleum. Chevron will therefore collect a $1 billion breakup fee. The oil giant is also increasing its stock-repurchase rate by 25%. Shares of Chevron rose 3.1% today.
There’ll be a new, twice-weekly nonstop flight between Montreal and New Orleans this fall. Air Transat says the flights into Louis Armstrong airport will begin this November. Air Transat will fly twice a week to New Orleans -- on Thursdays and Sundays.