Boring Company nearly finished constructing underground tunnel


The markets traded mixed during the midday with the Dow rising 30 points to 24,770. Nasdaq fell 20 points to 7384.

Elon Musk's Boring Company is close to completing a tunnel under the city of Los Angeles that will be used for a high-speed public transportation system. The tunnel is 12 feet wide and spans two miles. Free rides to the public will be available once regulatory approvals are secured.

President Donald Trump plans to lower the cost of prescription medication so that they are more affordable. The administration will encourage Medicare insurers to negotiate better drug prices and lower out of pocket costs for patients. Incentives will be created to prompt drug manufacturers to lower list prices.

Harley-Davidson union Association of Machinists and Aerospace Workers has accused the motorcycle company of moving factory work out of the country to Thailand. A factory in Kansas City will be closed but Harley-Davidson said that the work will be moved to a plant in York, Pennsylvania. While 800 jobs will be lost in Kansas City, 400 will be created in York.

In the broad market, advancing issues were on par with decliners on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 2,722. Bitcoin collapsed $475 to $8,615.

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This page contains a single entry by published on May 11, 2018 10:40 AM.

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