In our news wrap Friday, U.S. and Mexican negotiators held a third day of negotiations today in the face of President Trump’s looming tariff threat. As Trump headed home from Europe, he tweeted that there is a good chance for a deal. Also, a Russian destroyer and an American guided-missile cruiser had a near collision in the Philippine Sea.
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The latest U.S. jobs report is out, with signs of slowing economic growth amid worries about trade wars. The Labor Department reports a net gain of 75,000 jobs in May. That's just a third of the total for April.
The unemployment rate held at 3.6 percent, near a 50-year low, while hourly pay increases slowed somewhat. We will get all the details after the news summary.
Wall Street rallied on the jobs report in the belief that it will prod the Federal Reserve to cut interest rates sooner. The Dow Jones industrial average gained 263 points to close at 25984. The Nasdaq rose 126 points, and the S&P 500 added 30.
U.S. and Mexican negotiators held a third day of talks, with President Trump's tariff deadline looming. He vows to impose additional 5 percent levies on Mexican imports starting Monday unless the surge of Central American migrants is stopped.
Today, as he headed home from Europe, he tweeted there is a good chance of a deal. At the White House, the vice president's chief of staff, Marc Short, also suggested the tariffs might not happen.
I think there that there is the ability if negotiations continue to go well that the president can turn that off at some point over the weekend. It's less about the process about negotiation. It's more about actually seeing, what are the actions taken that will drop those numbers?
The initial tariffs would increase over time to a maximum of 25 percent.
A Russian destroyer and an American guided-missile cruiser had a near collision today in the Philippine sea. U.S. Navy video showed the ships coming within 165 feet of each other. The USS Chancellorsville had to throw all engines into emergency reverse to avoid being hit.
In Washington, acting Defense Secretary Patrick Shanahan blamed the Russian ship and said the U.S. is lodging a formal complaint.
The unsafe, unprofessional acts certainly put our men and women at risk. Thanks to their professionalism, there was no incident. Our military-to-military channel with the Russians will be exercised as a result of this activity.
Moscow countered that the U.S. ship was in the wrong, and that it crossed the path of the Russian destroyer.
In Minneapolis, former police officer Mohamed Noor now faces more than 12 years in prison for fatally shooting an unarmed woman in 2017. Noor was sentenced today. The victim, Justine Damond, had called police to report a possible sexual assault. Noor opened fire when she approached his cruiser.
He apologized in court today, saying: "I caused this tragedy and it is my burden."
NASA announced today private citizens will soon have the chance to visit the International Space Station. But it will cost $58 million for travel and $35,000 per night for accommodations. That revenue will help the agency focus on returning to the moon in 2024.
President Trump criticized that part of the plan, tweeting today — quote — "NASA shouldn't be talking about going to the moon."
This is despite the fact, that just last month, he pledged to launch a new mission to the moon, with the help of $1.6 billion in new NASA funding.
The University of Alabama's trustees voted today to return a donation of $26.5 million. Hugh F. Culverhouse Jr. had called for boycotting the state school after Alabama's legislature passed a restrictive abortion law. University officials insist the decision is not about abortion, but about Culverhouse's numerous demands involving how the money is spent.
Seventeen major automakers are urging the Trump administration to renew negotiations with California over mileage standards. In a letter to the president, the companies call for — quote — "one national standard that is practical, achievable and consistent." The Trump administration wants to roll back Obama era mileage requirements, and end California's ability to make its own rules.
And the music world today mourned New Orleans singer and pianist Dr. John, who died Thursday of a heart attack. He was born Mac Rebennack and created the Dr. John persona in the 1960s, blending rhythm and blues with psychedelic rock. His biggest hit, "Right Place, Wrong Time," it was a top 10 hit in 1973. Here he is performing the song in 2012.
Over the years, Dr. John won six Grammys and was inducted into the Rock and Roll Hall of Fame in 2011. He was 77 years old.