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Stocks stall … J&J vaccine issues … UK virus rebound

NEW YORK (AP) — Stocks have stalled in afternoon trading, but the S&P 500 remains on pace for its third weekly gain in a row. The S&P 500 had been up in the early going but edged lower as the day went on. Strong showings from technology and financial companies have been offset by a broad slide in health care stocks. Bond yields have moved lower this week despite data showing the economy is still recovering as well as some signs of inflation. The yield on the 10-year Treasury note was 1.46%, down from 1.57% a week ago.

UNDATED (AP) — Federal regulators are allowing the release of about 10 million doses of Johnson & Johnson’s COVID-19 vaccine from a troubled Baltimore factory. But many other doses that originated there can’t be used and must be thrown out. The Food and Drug Administration says it determined that two batches from the plant could be released but several others are not suitable for use. Additional batches are still under review.

LONDON (AP) — The U.K. has recorded its highest coronavirus infections since late February, with 8,125 new cases. The delta variant, first identified in India, accounts for more than 90% of all new infections in the U.K. The variant is considered about 40% more transmissible than the previous dominant strain. The British Medical Association is calling for a “sensible delay” in the next planned easing of restrictions, saying it would help keep a lid on infections and allow more people to get vaccinated.

MILWAUKEE (AP) — A federal judge has halted a loan forgiveness program for farmers of color in response to a lawsuit alleging the program discriminates against white farmers. The Milwaukee Journal Sentinel reports U.S. District Judge William Griesbach in Milwaukee issued a temporary restraining order yesterday suspending the program for socially disadvantaged farmers and ranchers. The Biden administration program pays up to 120% of direct or guaranteed farm loan balances for Black, American Indian, Hispanic, Asian American or Pacific Islander farmers. Conservative law firm Wisconsin Institute for Law and Liberty filed suit in April on behalf of 12 farmers from Wisconsin, Minnesota, South Dakota, Missouri, Iowa, Arkansas, Oregon and Kentucky.

UNDATED (AP) — McDonald’s is the latest company to be hit by a data breach after unauthorized activity on its network exposed the personal data of some customers in South Korea and Taiwan. McDonald’s says it quickly identified and contained the incident. It says an investigation determined that only South Korea and Taiwan had customer personal data accessed and no customer payment was exposed. McDonald’s says it’s taking steps to notify regulators and the customers who may be affected.

Associated Press


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