Stocks have solid finish...Energy companies and products get boost...FCC to auction more spectrum for 5G
NEW YORK (AP) — Stocks notched solid gains on Wall Street on Friday. The strong finish gave the S&P 500 its third straight weekly gain. Banks led Friday’s gains after a solid quarterly profit report from JPMorgan Chase opened the latest round of company earnings. The S&P 500 rose 19 points, or 0.7%, to 2,907. The Dow climbed 269 points, or 1%, to 26,412. The Nasdaq gained 36 points, or 0.5%, to 7,984. And the Russell 2000 picked up 5 points, or 0.4%, to 1,584.
NEW YORK (AP) — Energy companies rose Friday after Chevron said it would pay $33 billion to buy rival Anadarko Petroleum. In the meantime, energy futures closed mostly higher. Benchmark U.S. crude oil rose 0.5% to settle at $63.89 a barrel and Brent crude gained 1% to close at $71.55 a barrel. Wholesale gasoline added 0.3% to $2.04 a gallon, heating oil picked up 0.2% to $2.07 a gallon and natural gas dropped 0.2% to $2.66 per 1,000 cubic feet.
WASHINGTON (AP) — The federal government will hold a big spectrum auction to bolster 5G service, the next generation of mobile networks. President Donald Trump showcased the announcement Friday, declaring the race to stand up these faster, more powerful networks is a competition “America must win.” Trump also announced a $20 billion plan to expand broadband access to rural areas still without it, a decade-long extension of an existing program.
NEW YORK (AP) — Fisher-Price is recalling nearly 5 million infant sleepers after more than 30 babies rolled over in them and died since the product was introduced in 2009. The U.S. Consumer Product Safety Commission says than anyone who bought any model of the Fisher-Price Rock ’n Play sleeper should stop using it right away and contact Fisher-Price for a refund. The recall covers about 4.7 million of the sleepers, which cost between $40 and $149.
INDIANAPOLIS (AP) — An Indianapolis company has issued a recall for melon products sold in 16 states after being linked to a salmonella outbreak. The U.S. Food and Drug Administration says the recall includes cut watermelon, honeydew and cantaloupe produced by Caito Foods. The fruit has been sold under various brands or labels at Kroger, Walmart, Trader Joe’s, Target and Whole Foods. The affected states are Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, New York, North Carolina, Ohio, Pennsylvania, Tennessee, West Virginia and Wisconsin.