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Stocks oiled down...Keystone XL ruling...Brexit divide

November 9, 2018

NEW YORK (AP) — U.S. stocks are falling as crude oil prices are on track to drop for the 10th consecutive day, deepening a slump that began in early October. Technology and internet companies are also falling. The Dow fell 220 points. The S&P dropped 31 points and the Nasdaq fell 134 points.

MEXICO CITY (AP) — Mexican stocks appeared headed for a second day of losses after the party of President-elect Andres Manuel Lopez Obrador floated a proposal to prohibit some commissions charged by private banks. Mexico’s benchmark IPC index was down about 2.3 percent in midday trading Friday, after dropping 5.8 percent in the previous session. The Mexican peso dropped one percent against the U.S. dollar Thursday.

WASHINGTON (AP) — In a setback for the Trump administration, a federal judge has blocked a permit for construction of the Keystone XL oil pipeline from Canada and ordered officials to conduct a new environmental review. Environmentalists and tribal groups cheered the ruling by a U.S. district judge in Montana, while President Donald Trump called it “a political decision” and “a disgrace.”

ANCHORAGE, Alaska (AP) — A lawyer says President Donald Trump exceeded his power when he signed an executive order reversing a ban on offshore drilling in vast parts of the Arctic Ocean and dozens of underwater canyons in the Atlantic Ocean. Erik Grafe, an attorney for the environmental group Earthjustice, made the argument Friday in federal court in Anchorage. Assistant U.S. Attorney General Jeffrey Wood countered that the law is not intended to bind a president when determining offshore stewardship.

LONDON (AP) — A minister in the British government stepped down Friday to protest Prime Minister Theresa May’s Brexit plan and is backing calls for a second referendum on whether the country should leave the European Union. Jo Johnson, younger brother of former Foreign Secretary Boris Johnson, said Friday that the withdrawal agreement being discussed would greatly weaken Britain.

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