TOP STORIES
MCDONALD'S TO RAISE HOURLY PAY FOR 90,000 WORKERS
McDonald's plans to raise pay for workers by more than 10% and
add benefits like paid vacation, an effort to rejuvenate the
struggling fast-food giant that offers fresh evidence of rising
wage pressure in the American labor market.
U.S. STOCKS FALL ON WEAK ECONOMIC DATA
Stocks fell after weak economic data added to concerns about
U.S. growth and corporate profits at the start of the year. The Dow
Jones Industrial Average shed 78 points to 17698.
U.S. MANUFACTURING SLOWS FOR FIFTH STRAIGHT MONTH
U.S. manufacturers stumbled to close out the first quarter amid
a tough winter and the rising dollar, but economists believe the
sector will rebound during the spring along with the broader
economy.
PRIVATE SECTOR JOBS UP ONLY 189,000 IN MARCH
Private payrolls in the U.S. rose by 189,000 jobs in March,
according to employment report compiled by ADP and Moody's
Analytics. The number was far below expectations; economists had
projected 225,000 new jobs added.
U.S. AUTO SALES FALL IN MARCH
GM and Ford posted lower U.S. vehicle sales in March, while Fiat
Chrysler posted a 1.7% uptick amid strength in Jeep brand. March
included one less selling day than prior-year month, which is
likely dragging down auto makers' sales for the period.
IRAN, WEST STRUGGLE TOWARD NUCLEAR DEAL
Negotiators at the Iran nuclear talks struggled to bridge their
differences a day after they missed the deadline to conclude a
framework outlining the elements of a final deal.
KRAFT, MONDELEZ ACCUSED OF MANIPULATING WHEAT MARKETS
Kraft Foods Group and Mondelez International were charged with
manipulating and trying to manipulate the prices of cash wheat and
wheat futures by the regulator of those markets.
ARKANSAS GOVERNOR CALLS FOR CHANGES TO RELIGIOUS-FREEDOM BILL
Arkansas Gov. Asa Hutchinson called for changes to a
religious-freedom bill passed by the state's legislature, after it
sparked an outcry akin to the one that followed a similar law in
Indiana from groups and companies who say it could be used to
discriminate against gays and lesbians.
CALIFORNIA ORDERS MANDATORY WATER CUTS
California Gov. Jerry Brown ordered unprecedented mandatory
water cuts across the Golden State after the latest measurements
show the state's mountain snowpack has shrunk to a record low of 5%
of normal for this time of year.
GREECE PRESENTS MORE DETAILED BAILOUT PLAN
Greece made little headway in negotiations toward ending its
standoff with its international creditors, leaving the government
facing the prospect of at least another month without new financing
and starved for cash.
GODADDY'S SHARES JUMP IN MARKET DEBUT
Shares of GoDaddy, a technology provider to small businesses,
jumped 31% in their market debut as investors piled into the
company known nearly as much for its racy television commercials as
it is for selling Web domains.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
The Wall Street Journal
HARD DECISIONS ON EASY MONEY
The Fed is getting what it wanted from six years of near-zero
interest rates and trillions of dollars of bond buying:
unemployment approaching levels often thought of as "full
employment." It's also getting some less savory side effects, Greg
Ip writes.
Ahead of the Tape
KICK THE TIRES ON CARMAX
Shares of CarMax have returned more than 50% in the past six
months, beating other listed auto dealers. Mega auto dealers look
like a good business but at its current price, CarMax shares are
richly valued, writes Spencer Jakab.