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Market back on a roll ...Oil prices edge higher... Judge OK’s Takata’s bankruptcy reorganization plan

February 17, 2018

NEW YORK (AP) — Cheaper stock prices as well as solid company profits are putting investors back in a buying mood. Stocks have just closed out their strongest week in five years. The gain on Friday was the sixth in a row for the Standard & Poor’s 500 index. The S&P 500 gained 1 point, to close at 2,732. The Dow rose 19 points to 25,219 but the Nasdaq lost 17 points, ending up at 7,239. The Russell 2000 index of smaller company stocks climbed 6 points to 1,543.

NEW YORK (AP) — Oil prices are going up again. On Friday, benchmark U.S. crude picked up 34 cents to end the day at $61.68 a barrel on the New York futures markets. Across the pond, Brent crude, used to price international oils, added 51 cents to $64.84 a barrel in London. Also, wholesale gasoline rose 2 cents to $1.75 a gallon. Heating oil added 2 cents to $1.91 a gallon. Natural gas slipped 2 cents to $2.56 per 1,000 cubic feet.

WILMINGTON, Del. (AP) — A Delaware judge has approved the bankruptcy reorganization plan of Japanese auto-parts supplier Takata. After a hearing Friday, the judge said there was substantial and sufficient support from creditors to merit plan approval. The ruling comes after Takata reached a settlement last week with creditor groups representing current and future victims of the company’s lethally defective air bags, whose claims will be handled by a trust.

UNDATED (AP) — The election-interference indictment by special counsel Robert Mueller underscores how U.S. social-media companies like Facebook and Twitter were played by Russian propagandists. And it’s not clear if the firms have taken sufficient action to prevent something similar from happening again. Thirteen Russians, including a businessman close to Vladimir Putin, were charged with plotting to interfere in the 2016 U.S. election through social media propaganda.

ATLANTIC CITY, N.J. (AP) — Ten years ago, Atlantic City’s Tropicana casino was on the verge of death. It was stripped of its casino license after its then-owners laid off much of its workforce, leading to filthy rooms, insect infestations, long waits for slot machine payouts and food and drink orders that often never arrived. Now, after years of renovations, the Tropicana has become the No. 2 casino in the city in terms of gambling revenue. That’s a position it will need to fight to retain as two additional casinos open on the Boardwalk this summer.

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