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Stock market has solid week...Oil prices higher... NTSB urges air bag replacement

July 13, 2018

NEW YORK (AP) — Stocks have wrapped up another solid week as industrial and energy companies ticked higher, but corporate earnings got off to a sluggish start today as reports from several major U.S. banks failed to excite investors. The S&P 500 edged up 3 points to 2,801. The Dow added 94 1/2 points to 25,019. The Nasdaq set another record, as it rose 2 points to 7,825. But the Russell 2000 fell 3 points, to end the day at 1,687.

NEW YORK (AP) — Oil futures are higher today. Benchmark U.S. crude rose 1 percent to $71.01 a barrel in New York while Brent crude, used to price international oils, rose 1.4 percent to $75.33 per barrel in London. In other commodity trading, wholesale gasoline rose 1.7 percent to $2.11 a gallon. Heating oil added 0.5 percent to $2.13 a gallon and natural gas sank 1.6 percent to $2.75 per 1,000 cubic feet.

DETROIT (AP) — The U.S. government’s road safety agency is urging automakers to speed up replacement of potentially dangerous Takata air bag inflators. The National Highway Traffic Safety Administration says that it has met with 19 affected companies, urging them to accelerate the recalls and to post recall plans on their websites. Automakers missed a Dec. 31 deadline to replace 100 percent of the oldest and most dangerous inflators.

CHICAGO (AP) — McDonald’s says it’s stopping the sale of salads at 3,000 restaurants after people became sick from a parasite that causes intestinal illness. The fast-food chain says it’s acting “out of an abundance of caution” until switching to another supplier. Health officials in Illinois and Iowa had identified roughly 100 combined cases of cyclosporiasis, caused by the Cyclospora parasite. Officials say there’s an apparent link to consuming McDonald’s salads.

LOUISVILLE, Ky. (AP) — Papa John’s founder John Schnatter says his use of a racial slur was taken out of context, but he feels “sick” about the incident. Schnatter stepped down as chairman of the company’s board this week after Forbes reported that he used the N-word during a media training exercise. Schnatter subsequently issued a statement of apology acknowledging the use of “inappropriate and hurtful” language.

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