Stocks Waver as China Tensions Climb

Catch up: Here’s what else is happening.

• Costco, the club retailer, has started to limit the amount of meat customers can buy at once. The company said in an update on its website on Monday that fresh beef, pork and poultry products would be “temporarily limited to 3 items” per member. The limits come as production in the meat industry slows after widespread illnesses in slaughterhouses across the Midwest and South.

• The cruise giant Carnival Corporation said on Monday that it planned to reopen cruising on eight of its ships before the end of the summer. Carnival has canceled service on some of its cruise lines through September, but it said it was planning to offer cruises from ports in Galveston, Tex.; Miami; and Port Canaveral, Fla., as early as Aug. 1.

• Intel said it would pay $900 million to acquire Moovit, the maker of an app that provides directions based on real-time traffic data, a rare deal in the current environment. The acquisition will complement Intel Mobileye, the company’s growing autonomous driving unit, which produces hardware and software for driving-assistance features used in vehicles across the industry.

Reporting was contributed by by Rob Sass, Patricia Cohen, Ivan Penn, Stacy Cowley, Alexandra Stevenson, Kate Conger, Michael Corkery, David Yaffe-Bellany, Vanessa Friedman, Andrew Ross Sorkin, Mihir Zaveri, Jeanna Smialek, Niraj Chokshi, Brooks Barnes, Mohammed Hadi, Austin Ramzy, Michael J. de la Merced, Carlos Tejada, Noam Scheiber, David McCabe, Marc Tracy and Sapna Maheshwari.

Article source: https://www.nytimes.com/2020/05/04/business/live-stock-market-coronavirus.html