White House officials have said that the Deferred Action for Childhood Arrivals (DACA) program, an Obama administration effort to provide rolling work visas for some 800,000 immigrants who entered the U.S. illegally as children but have stayed on and found jobs as adults, is still under review, but reports of its cancellation -- and the potential deportation of thousands of workers -- has raised significant concern among some of the country's biggest companies, who've said it would cost the U.S. economy nearly half a trillion dollars.
"Dreamers are vital to the future of our companies and our economy. With them, we grow and create jobs. They are part of why we will continue to have a global competitive advantage," said Apple Inc.'s (AAPL - Get Report) Tim Cook, Amazon.com Inc.'s (AMZN - Get Report) Jeff Bezos, Berkshire Hathaway Inc.'s (BRK.A - Get Report) Warren Buffett, Zuckerberg and hundreds of other CEOs in an open letter to Trump published late Thursday.
"We call on President Trump to preserve the DACA program. We call on Congress to pass the bipartisan DREAM Act or legislation that provides these young people raised in our country the permanent solution they deserve."
The lack of support from Vanguard was disclosed on Wednesday and Thursday, just as Wells Fargo disclosed it uncovered nearly double the amount of fake accounts opened than it originally thought, with fraudulent accounts nearing 3.5 million instead of the original estimate of 2.1 million.
Vanguard said it voted against certain directors at "a U.S. financial company that was fined for fraud" in an annual voting report on Thursday, Reuters reported. Vanguard executives declined to confirm the language referred to Wells Fargo but according to filings with the Securities and Exchange Commission, Vanguard funds supported 12 of 15 Wells Fargo directors on the ballot, Reuters reported.
Wells Fargo closed Thursday down 0.56% at $51.07.
4. -- Major U.S. automakers, including Ford Motor Co. (F - Get Report) and General Motors Co. (GM - Get Report) , are expected to post sales for August throughout the day. Hurricane Harvey, which has been downgraded to a tropical storm and was moving inland, could reduce the number of auto sales made in August by 2%, Edmunds estimated, with declines continuing into September.
Hard-hit Texas is the second-largest auto market in the U.S. with 9% of the nation's retail sales, Edmunds' Jessica Caldwell said, "So an event of this magnitude is going to make a dent in sales."
5. -- The National Labor Relations Board filed a complaint against Tesla Inc. (TSLA - Get Report) over charges the electric car company engaged in coercion and interference over employees' union activities at its Fremont, Calif., plant.
The NLRB complaint, filed Thursday, lists several instances in which it said it had determined Tesla attempted to interfere with union creation activities by employees at the company's Fremont, Calif. car factory, USA Today reported. The news was first reported by Buzzfeed.
Tesla has been one of the companies the United Auto Workers has been fighting to organize after several years of stalled efforts, according to USA Today.
Tesla shares rose 0.2% in premarket trading on Friday.
Updated from 6:02 a.m. ET.
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