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Stocks rally...Oil prices down slightly... House moves forward on plan to cut billions in leftover spending

June 6, 2018

NEW YORK (AP) — Stocks have rallied for their fourth gain in a row as banks climbed along with bond yields. On Wall Street today there were signs investors are getting a bit less nervous about trade tensions. The S&P 500 added 23 ½ points, or 0.9 percent, to close at 2,772. The Dow rose over 346 points, or 1.4 percent, to 25,146. And the Nasdaq rose 51 points, or 0.7 percent, to 7,689. The Russell 2000 index gained 11 points, or 0.7 percent, to end the day at 1,675.

NEW YORK (AP) — Oil futures have lost some ground. Benchmark U.S. crude shed 1.2 percent today to price at $64.73 a barrel in New York. Also, Brent crude, used to price international oils, inched down to $75.36 per barrel in London. In other commodity futures trading, wholesale gasoline fell 1.7 percent to $2.07 a gallon. Heating oil slid 0.7 percent to $2.13 a gallon and natural gas rose 0.2 percent to $2.90 per 1,000 cubic feet.

WASHINGTON (AP) — The GOP-controlled House is moving ahead on a White House plan to cut almost $15 billion in leftover spending, scheduling a vote after President Donald Trump took to Twitter to sell the idea. A spokesman for House Majority Leader Kevin McCarthy says the House will vote Thursday night on the measure. The measure faces long odds in the Senate despite being immune to a Democratic filibuster.

WASHINGTON (AP) — A bipartisan group of 10 senators has introduced longshot legislation that would require Congress to sign off on tariffs imposed in the name of national security, defying President Donald Trump on a bedrock issue that once defined the GOP. Congressional Republicans are mostly at odds with what they view as Trump’s protectionist instincts on trade but many are hesitant to confront him in a legislative showdown that could end badly for them.

MILWAUKEE (AP) — A British cybersecurity researcher credited with stopping WannaCry, a worldwide computer virus last year, is facing new charges, including lying to the FBI, in the indictment accusing him of developing malware to steal banking information. Marcus Hutchins now faces 10 charges alleging that he created and distributed malware known as Kronos, including the four new ones in the updated indictment filed today. Hutchins has pleaded not guilty.

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