The daily business briefing: July 13, 2016
U.S. stocks surge to record highs, David Cameron makes last visit to Parliament as U.K. prime minister, and more


1. U.S. stocks hit record highs
The U.S. stock market on Tuesday continued a rally that began with Friday's unexpectedly strong June jobs report, with the Dow Jones Industrial Average rising by 0.7 percent to close at a record high of 18,347.67 the day after the S&P 500 edged into record territory. The S&P benchmark index pushed still higher on Tuesday, rising another 14.98 points, or 0.7 percent, to 2,152.14. The Nasdaq index rose 34.18 points, or 0.7 percent, to 5,022.82. Global shares rose on Wednesday as fear of Brexit fallout continued to ease. U.S. futures rested, inching up a few points before Wednesday's opening bell.
2. Cameron clears the way for May to take over as U.K. prime minister
David Cameron is making his final appearance before British Parliament as prime minister on Wednesday. Then he will tender his resignation to Queen Elizabeth II, and Home Secretary Theresa May will take over in the evening. May — to be Britain's second female prime minister after Margaret Thatcher — won the Conservative Party leadership race after her last rival dropped out. Cameron led the campaign for the U.K. to remain in the European Union, and announced that he would step down after Britons voted to leave in a referendum last month, leaving the job of negotiating Brexit terms to his successor.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. Apple computer sales dip along with overall PC weakness
Apple's sales of laptops and desktop computers fell in the second quarter compared to a year earlier as global PC sales declined, according to the latest market share figures from Gartner and IDC. Apple shipped from 4 to 8 percent fewer Macs. IDC said that reduced the company's market share from 7.4 percent to 7.1 percent. PC sales overall fell by 4.5 percent worldwide as demand continued to shift to handheld devices. Lenovo, the world's biggest PC maker, saw a 2 percent drop in quarterly shipments, although HP, Dell, and ASUS managed to increase their sales.
4. Airline stocks rise after analyst says 'buy'
U.S. airline stocks made their biggest jump since 2014 on Tuesday after Deutsche Bank recommended buying shares of the nation's three biggest carriers — American Airlines, Delta, and United. The airlines have faced five years of low fares and economic uncertainty, but they are poised to snap back quickly — so it makes sense to buy shares now to get in on the coming gains, Deutsche Bank analyst Michael Linenberg said in a report. "In light of the current valuations, we think downside is limited," Linenberg said.
5. Holocaust Museum, Arlington say no to Pokémon Go
The United States Holocaust Memorial Museum and Arlington National Cemetery had to issue pleas for gamers, who are finding Pokémon everywhere, not to hunt the tiny battling monsters at their sites, calling it inappropriate. The popularity of Nintendo's new Pokémon Go app pushed up its stock by 13 percent on Tuesday, after a 25 percent gain on Monday. The game maker's soaring stock has pushed its market value from $12 billion to about $30 billion since the game's debut last week.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
5 hilariously sparse cartoons about further DOGE cuts
Cartoons Artists take on free audits, report cards, and more
By The Week US Published
-
Following the Tea Horse Road in China
The Week Recommends This network of roads and trails served as vital trading routes
By The Week UK Published
-
Crossword: March 30, 2025
The Week's daily crossword
By The Week Staff Published
-
'Like a sound from hell': Serbia and sonic weapons
The Explainer Half a million people sign petition alleging Serbian police used an illegal 'sound cannon' to disrupt anti-government protests
By Abby Wilson Published
-
The arrest of the Philippines' former president leaves the country's drug war in disarray
In the Spotlight Rodrigo Duterte was arrested by the ICC earlier this month
By Justin Klawans, The Week US Published
-
Ukrainian election: who could replace Zelenskyy?
The Explainer Donald Trump's 'dictator' jibe raises pressure on Ukraine to the polls while the country is under martial law
By Sorcha Bradley, The Week UK Published
-
Why Serbian protesters set off smoke bombs in parliament
THE EXPLAINER Ongoing anti-corruption protests erupted into full view this week as Serbian protesters threw the country's legislature into chaos
By Rafi Schwartz, The Week US Published
-
Who is the Hat Man? 'Shadow people' and sleep paralysis
In Depth 'Sleep demons' have plagued our dreams throughout the centuries, but the explanation could be medical
By The Week Staff Published
-
Why Assad fell so fast
The Explainer The newly liberated Syria is in an incredibly precarious position, but it's too soon to succumb to defeatist gloom
By The Week UK Published
-
Romania's election rerun
The Explainer Shock result of presidential election has been annulled following allegations of Russian interference
By Sorcha Bradley, The Week UK Published
-
Russia's shadow war in Europe
Talking Point Steering clear of open conflict, Moscow is slowly ratcheting up the pressure on Nato rivals to see what it can get away with.
By The Week UK Published