Briefs for Saturday

Clearwater Paper recently launched ReMagine, a folding carton paperboard brand consisting of nearly 30% recycled fiber.

The product, which has similar characteristics to nonrecycled hardwood pulp, provides “high-definition print capability and superior converting performance,” the company said in a news release.

“We are excited to introduce ReMagine to our customers, with a quality standard that we believe stands apart from other folding carton options in the market,” Steve Bowden, senior vice president and general manager of Clearwater Paper’s pulp and paperboard division, said in a statement.

Clearwater Paper is a Spokane-based supplier of paperboard and private label tissue to major retailers and wholesale distributors, some of which include grocery, drug, mass merchants and discount stores.

Idaho adds 25,000 jobs in June, cuts jobless rate

BOISE – Nearly 25,000 people returned to work in June as Idaho’s unemployment rate dropped to 5.6%, the Idaho Department of Labor said Friday.

The agency attributed last month’s 3.4% drop to the state’s economy reopening during the coronavirus pandemic.

But cases of COVID-19 have been increasing sharply in recent weeks, and highly populated Ada County that includes Boise reverted to more restrictions in late June and shut down bars.

The Labor Department says that for June, the number of unemployed Idahoans dropped to about 50,000. The agency also said that the number of workers with jobs rose to about 842,000, a nearly 5% increase from May.

Idaho had more than 13,000 confirmed coronavirus cases and 114 deaths through Thursday, according to a tally by Johns Hopkins University.

The number of infections is thought to be far higher because many people have not been tested, and studies suggest people can be infected with the virus without feeling sick.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks.

Stocks rose despite worries with consumer confidence

U.S. stocks rose as investors digested this week’s initial burst of corporate earnings, economic data and coronavirus news. The dollar weakened and crude oil declined.

The S&P 500 withstood a late session swoon to register its third consecutive weekly gain for the first time since December.

Trading volume was about 25% below the average over the prior 30 days. Intel Corp. and Cisco Systems Inc. helped the Nasdaq 100 avoid its first back-to-back daily decline since mid-May.

A University of Michigan survey showed U.S. consumer sentiment slumped in July, missing all forecasts, after the resurgent coronavirus nearly wiped out any emerging optimism around reopenings.

Investors were closely watching to see how the broader technology sector reacted to Netflix Corp.’s weaker than expected outlook. The Nasdaq Composite has managed to go two months without posting back-to-back declines, but that’s now under threat as investors question the resilience of tech’s searing rally.

Elsewhere, Chinese shares were steady after a more than 4% slide on Thursday, with investors assessing moves by policymakers to tame signs of exuberance.

From staff and wire reports