Great week for Wall Street...Oil prices down...Takata recalls more air bag inflators
NEW YORK (AP) — After another solid monthly jobs report, technology companies again led the way on Friday as stocks rose for the fourth day in a row to start 2018. They are on their longest new-year winning streak in eight years. The Standard & Poor’s 500 index gained 19 points to 2,743. and rose 2.6 percent for the week. The Dow Jones industrial average climbed nearly 221 points to 25,295 and the Nasdaq composite rose over 58 points to 7,136.
NEW YORK (AP) — After a few days of rising prices, oil is down. Benchmark U.S. crude lost 57 cents to $61.44 a barrel in New York on Friday. At the same time, Brent crude, used to price international oils, fell 45 cents to $67.62 per barrel in London. In other commodities trading, wholesale gasoline slid 2 cents to $1.79 a gallon.
DETROIT (AP) — Japanese air bag maker Takata is recalling another 3.3 million faulty inflators as it continues to expand the largest automotive recall in U.S. history. The latest recalls cover frontal air bags in certain 2009, 2010 and 2013 vehicles. They’re made by Honda, Toyota, Audi, BMW, Daimler Vans, Fiat Chrysler, Ford, General Motors, Jaguar-Land Rover, Mazda, Mercedes-Benz, Mitsubishi, Nissan, Subaru and Tesla. Automakers will provide specific models in paperwork that will be filed later this month.
ANCHORAGE, Alaska (AP) — The Trump administration is pursuing petroleum lease sales in Arctic waters off Alaska’s coast but an analyst says potential bidders may find other areas more attractive. Alaska Gov. Bill Walker favors the move. Energy experts, however, say drilling for oil in Alaska’s remote frontier areas is extremely expensive. Energy companies would also face fierce opposition from environmental groups opposed to Arctic offshore drilling.
NEW YORK (AP) — Pro racecar driver Scott Tucker has been sentenced to over 16 years in prison after his conviction for running a payday loan business that federal prosecutors say cheated millions of financially struggling Americans. In a letter to the court, Tucker defended his business practices and implied he was misunderstood. Timothy Muir, a lawyer, was sentenced to seven years in prison after he was convicted at the same trial in October.