NEW YORK (AP) – Stocks paused in daytime trading, but the S&P 500 continues to rally for its third straight gain in a week. The S&P 500 rallied early but declined during the day. The strong performance of tech and finance companies was offset by a sharp drop in healthcare stocks. Bond yields fell this week, despite data showing the economy is still recovering and some signs of inflation. The yield on the 10-year Treasury bond was 1.46%, up from 1.57% a week ago.
NOT DATE (AP) – Federal regulators are authorizing nearly 10 million doses of Johnson & Johnson’s COVID-19 vaccine to be released from a troubled Baltimore factory. But many other doses that have occurred there cannot be used and must be thrown away. The FDA says it has determined that two batches of the plant can be released, but some others are not suitable for use. Additional shipments are still pending.
LONDON (AP) – The UK has the highest coronavirus infection rate since late February with 8,125 new cases. The delta variant, first identified in India, accounts for over 90% of all new infections in the UK. This variant is considered to be about 40% more transmissible than the previous dominant strain. The British Medical Association is calling for a “reasonable delay” for the next planned relaxation of restrictions, saying it will help contain the spread of infections and allow more people to get vaccinated.
MILWAWKIE (AP) – A federal judge has suspended the Colored Farmer Loan forgiveness program in response to a lawsuit alleging the program discriminates against white farmers. The Milwaukee Journal Sentinel reports that US District Judge William Griesbach in Milwaukee yesterday issued a temporary restraining order suspending the program for disadvantaged farmers and ranchers. The Biden administration’s program pays out up to 120% of direct or guaranteed agricultural loan balances to black, American Indian, Hispanic, Asian American, or Pacific Islander farmers. The conservative law firm Wisconsin Institute for Law and Liberty filed a lawsuit in April on behalf of 12 farmers in Wisconsin, Minnesota, South Dakota, Missouri, Iowa, Arkansas, Oregon and Kentucky.
UNDATED (AP) – McDonald’s is the latest company to suffer a data breach following unauthorized activity on its network that discloses the personal information of some customers in South Korea and Taiwan. McDonald’s says it quickly identified the incident and localized it. It says the investigation found that only South Korea and Taiwan had access to customers’ personal data, and customer payments were not disclosed. McDonald’s says it is taking steps to notify regulators and customers who may be affected.