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Stocks drift higher…Americans still excluded…Airbus cuts

NEW YORK (AP) — Wall Street is drifting higher, a quiet coda for a rocking quarter that sent the U.S. stock market screaming back toward its record heights. The S&P 500 was up 0.8%, bringing its gain since the end of March to 19.1%. Other stock markets around the world were mixed, while Treasury yields held steady and crude oil gave up a smidgen of its tremendous rebound for the quarter. The S&P 500 is on pace for its best quarter since 1998, but that’s only after its worst quarter since the 2008 financial crisis. Analysts say to expect more volatility ahead.

BRUSSELS (AP) — The European Union has announced it will reopen its borders to travelers from 14 countries and possibly China soon. Most Americans, however, have been refused entry for at least another two weeks due to soaring coronavirus infections in the U.S. Travelers from other big countries like Russia, Brazil and India will also miss out.

PARIS (AP) — European aircraft manufacturer Airbus says it plans to shed 15,000 jobs over the next year. The jobs will mostly be lost in Europe. Airbus is struggling with the financial hit of the coronavirus pandemic. It said Tuesday that it doesn’t expect air traffic to recover to pre-COVID levels before 2023 and potentially as late as 2025.

ALBANY, N.Y. (AP) — New York is urging travelers from eight additional states to self-quarantine for 14 days as it awaits a decision on the reopening of indoor dining in New York City. Gov. Andrew Cuomo said in a television interview that he plans to send state police and health and liquor officials to New York City tonight ahead of his decision expected Wednesday. The Democratic governor said he’s worried by reports that dining in closed, indoor areas with air-conditioned systems could lead to spikes in COVID-19.

UNDATED (AP) — Cinemark Holdings will reopen some of its U.S. movie theaters on July 24, with additional theaters reopening in subsequent weeks. All theaters will reopen with elevated cleaning and safety standards. Cinemark runs 555 theaters in 41 states and 15 countries throughout South and Central America. Rival AMC is also planning to reopen some of its movie theaters next month.

Associated Press

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