Stock market posts back-to-back loss as communication services, materials shares slump

U.S. stock-market indexes fell for a second straight session on Monday as investors continued to rethink expectations for a deep rate cut by the Federal Reserve following the conclusion of its policy gathering at the end of this month. A better-than-expected employment report, with some 224,000 jobs created in June, has raised doubts that the central bank, run by Jerome Powell, will take aggressive action to avert the perception of weakness in the U.S. economy. Investors have been betting that easier monetary policy can help equity indexes drift toward fresh highs like those rung up last month. The Dow Jones Industrial Average DJIA, -0.43% finished down 116 points, or 0.4%, at 26,806, the S&P 500 index SPX, -0.48% fell 14 points, or 0.5%, at 2,976, while the Nasdaq Composite Index COMP, -0.78% declined 0.8% to reach 8,098. Fed Chairman Jerome Powell will testify on Capitol Hill on Wednesday and Thursday, and Wall Street will watch for clues on how the central banker will conduct monetary policy. In corporate news, shares of Apple AAPL, -2.06% were in focus after Rosenblatt Securities predicted the iPhone maker’s outlook would deteriorate over the next six to 12 months. In other news, Deutsche Bank’s shares DBK, -5.39% also were in focus after the company run by CEO Christian Sewing announced some 18,000 job cuts amid a major restructure of Germany’s largest lender, which also operates in the U.S.

Chile suffers the worst drought in 60 years

Chile’s populated capital Santiago, as well as the Valparaiso region, could be left without drinking water by 2030.

Central Chile is suffering the worst drought in 60 years. That includes the capital Santiago, home to nearly half the country’s population of 18 million.

Experts predict climate change, over-exploitation by agriculture and other factors means the shortage of water will be permanent.

Al Jazeera’s Lucia Newman reports from Aculeo in Chile.

Delaware chief justice, arbiter of U.S. corporate law, to retire

WILMINGTON, Del., July 8 (Reuters) – Chief Justice of the Delaware Supreme Court Leo Strine will retire this fall, Governor John Carney announced on Monday, a leadership change in the court system that decides disputes for more than two-thirds of Fortune 500 companies.

The governor will nominate a replacement, who faces confirmation by the state Senate. A list of potential nominees will be drawn up by a selection committee and given to the governor, a process that usually takes months. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Noeleen Walder and Cynthia Osterman)

OPP lay charge in fatal motorcycle crash in Arthur, Ont.

Wellington County OPP say a charge has been laid following a fatal motorcycle crash in Arthur, Ont. on June 6.

A 51-year-old man was killed in the collision between a car and a motorcycle on Wellington Road 14.

The victim has been identified as Joe Catteau of Arthur.

On Monday, OPP announced the investigation has concluded with a 62-year-old man being charged with not turning safely.

He will appear in court on July 25.

Donald Trump vows to hold 4th of July bash next year and for ‘the foreseeable future’

WASHINGTON – President Donald Trump isn’t done celebrating.

Trump said Monday that last week’s Fourth of July celebration on the National Mall was “something special” and that he’s planning to do it again.

“It was a wonderful day for all Americans, and based on its tremendous success, we’re just making the decision — and I think we can say we’ve made the decision — to do it again next year and maybe we can say for the foreseeable future,” he said at the beginning of a White House event on environmental leadership.

Trump used last week’s Independence Day “Salute to America” celebration, which drew thousands of supporters and protesters to the National Mall, to pay tribute to the nation’s military.

The event included a parade, military flyovers, martial music and a 47-minute speech by Trump on the steps of the Lincoln Memorial.

Fireworks go off over the Lincoln Memorial in Washington, Thursday, July 4, 2019.  (Photo: Susan Walsh, AP)

Tips for Ocasio-Cortez’s summer trip include Yosemite, Acadia and… Venezuela

New York congresswoman Alexandria Ocasio-Cortez is apparently ready for a break from Washington politics — and look no further than the response to one of her recent tweets as to why a disconnect from social media may also be in order.

On Sunday, AOC asked her 4.7 million TwitterTWTR, +0.55%followers for some suggestions on which U.S. national parks to visit for “a few days of rest.”

It didn’t take long for the trolls to swarm:

Also: Top 10 places Americas are spending their summer breaks

What’s your favorite national park?

Winnipeg cops investigating gunshots on Corydon Avenue

Winnipeg police are investigating a report of gunshots Sunday night at the Crescentwood site of Corydon Community Centre.

No injuries have been reported, but police continue to investigate.

Anyone with information is asked to call the Major Crimes Unit at 204-986-6219 or Crime Stoppers at 204-786-TIPS (8477).