Stocks Drop; Bond Yields, Dollar Soar on Jobs Report

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U.S. stocks dropped Friday, while the dollar soared and Treasury yields jumped, after robust jobs growth solidified expectations of a U.S. rate increase as soon as June.

Euro Falls Below $1.09 After Jobs Report

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The euro fell to a fresh 11-year low against the U.S. dollar, which jumped after upbeat employment data, while the European bond-buying frenzy showed no signs of abating.

Treasurys Offer Bonus

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Investors buying U.S. government bonds are pocketing the widest yield premium over comparable German debt in more than 14 years, highlighting the diverging economic fortunes and policies of the U.S. and Europe.

Canada Raises C$2.1 Billion in Wireless-Spectrum Auction

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The Canadian government raised 2.1 billion Canadian dollars in a wireless-spectrum auction aimed at fostering greater competition and bringing down prices for mobile services in the country.

Individual Stocks vs. Index Funds: The Next Frontier

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Some firms, including Wealthfront, say big investors do better buying the individual stocks in an index to take advantage of tax-loss selling.

Apple to Join Dow, Replaces AT&T

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Apple will join the Dow Jones Industrial Average this month, a long-anticipated change that adds the world’s most-valuable company to the 119-year-old blue-chip index.

Ecopetrol Names Former Finance Minister CEO

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Juan Carlos Echeverry, former finance minister with close ties to the government, was elected as the new chief executive of Ecopetrol.

FDA Approves First Biosimilar Drug

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The FDA approved its first “biosimilar” drug, a decision expected to launch a new industry of lower-cost versions of expensive drugs that could help the U.S. curb its $300 billion in yearly drug spending.

Elaine Wynn Launches Bid for Board Seat

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Wynn Resorts co-founder Elaine Wynn launched a bid to remain on the board, the latest power struggle at the casino operator.

Limits Sought on GMO Corn as Pest Evolves

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U.S. regulators are proposing limits on the planting of some genetically engineered corn to combat a voracious pest that has evolved to resist the bug-killing crops, a potential blow to makers of biotech seed.

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