• iStock/Thinkstock(NEW YORK) -- Investors appear to be uneasy ahead of the inauguration of President-elect Donald Trump as stocks closed lower after the holiday weekend.The Dow slid 58.96 (-0.30 percent) to finish at 19,826.77.The Nasdaq gave up 35.39 (-0.63 percent) to close at 5,538.73, while the S&P 500 finished at 2,267.89, down 6.75 (-0.30 percent) from its open.Crude oil prices, about $52.5 a barrel, gained under 1 percent.Donald Trump: In an interview with the Wall Street Journal, Trump said the U.S. dollar is "too strong," causing the dollar to slide about 1 percent Tuesday. The president-elect told WSJ that because China was keeping its yuan weaker, "companies can't compete with [China] now because our currency is too strong. And it's killing us."Winners and Losers: Wal-Mart Stores Inc soared 2 percent after announcing it would create about 10,000 jobs in the U.S.Shares for Tiffany & Co. tumbled about 2.5 percent on news of lower sales, including a 14 percent decline at its flagship store on Fifth Avenue in New York, near Trump Tower. The luxury jeweler retailer attributed the loss "at least partly to post-election traffic disruptions."
    Read more...
  • Spencer Platt/Getty Images(NEW YORK) -- Boeing CEO and chairman Dennis Muilenburg says he had an "excellent conversation" with President-elect Donald Trump at Trump Tower in New York Tuesday.Speaking to reporters following the meeting, Muilenburg said the two discussed ways to simplify requirements for Air Force One "to make a better plane at a lower cost." He also praised the job Trump is doing to help U.S. business and manufacturing."I think Mr. Trump is doing a great job in engaging in business," Muilenburg said. "We're all on the same page here. Our objective is to provide the best capability for our country most affordably. We want to generate jobs in the U.S."He added, "I think Mr. Trump's engagement with industry is going to help us grow manufacturing jobs in this country."
    Read more...
  • General Motors(DETROIT) -- General Motors is investing another $1 billion in U.S. manufacturing operations, the automaker announced on Tuesday.The investment covers "multiple new vehicle, advanced technology and component projects" and includes 1,500 new and retained jobs, GM said in a press release. Details about those jobs, however, won't be revealed until later in the year.The company said it will also create an additional 450 U.S. jobs as it begins insourcing axle production for its pickup trucks in Michigan, including work that had been previously done in Mexico."As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners," GM CEO Mary Barra said in a statement. "The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value."Barra added that insourcing IT jobs and streamlining engineering operations will add even more jobs in the U.S. over the next few years. "We will continue our commitment to driving a more efficient business, as shown by our insourcing of more than 6,000 IT jobs that were formerly outside the U.S., streamlining our engineering operations from seven to three, with the core engineering center being in Warren, Michigan, and building on our momentum at GM Financial and in advanced technologies," she said. "These moves, and others, are expected to result in more than 5,000 new jobs in the U.S. over the next few years."
    Read more...
  • iStock/Thinkstock(DALLAS) — Facebook CEO Mark Zuckerberg is scheduled to testify in a multi-billion dollar lawsuit against his company Tuesday. The case relates to Facebook’s 2014 purchase of Oculus, the virtual reality headset maker. Zenimax — a suburban Dallas company — claims that Oculus was created using stolen technology and that Facebook knew that when it made the buy.Zenimax is seeking $2 billion in damages, the amount Facebook paid in the deal to buy Oculus, Business Insider reports. Copyright © 2017, ABC Radio. All rights reserved.
    Read more...
  • Walmart(WASHINGTON) — Continued expansion is expected to open up about 34,000 more job opportunities for Walmart, the retail giant announced Tuesday. Fifty-nine new Walmart and Sam’s Club facilities, expansions and relocations will generate about 10,000 retail jobs, with another 24,000 construction jobs to come with building projects at new and existing locations."Walmart is investing to better serve customers,” Walmart executive vice president for corporate affairs Dan Bartlett said in a company statement Tuesday. “With a presence in thousands of communities and a vast supplier network, we know we play an important role in supporting and creating American jobs. Our 2017 plans to grow our business — and our support for innovation in the textile industry — will have a meaningful impact across the county.”Walmart’s plans for expansion and remodeling are part of the retailer’s $6.8 billion capital investment in the U.S., set to take place over the coming fiscal year. Copyright © 2017, ABC Radio. All rights reserved.
    Read more...
  • Donald Bowers/WireImage for Luxottica via Getty Images(LONDON) -- Italian eyewear giant Luxottica Group, which owns Ray-Ban, and French lens-maker Essilor have agreed to a massive merger.
    Read more...