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Wall Street waits for trade deal...Oil prices dip... US and Canada plan to continue trade talks next week

September 1, 2018

NEW YORK (AP) — Trading was very light on Friday ahead of the upcoming Labor Day holiday. Stocks hardly budged as the U.S. and Canada were unable to complete a trade deal. The S&P 500 inched up less than a point to close at 2,901. The Dow fell 22 points, to 25,964 and the Nasdaq rose 21 points, to 8,109. Meanwhile, the Russell 2000 gained 8 points to finish the day with a record high of 1,740.

NEW YORK (AP) — Benchmark U.S. crude dipped 45 cents Friday to $69.80 a barrel in New York. At the same time, Brent crude, used to price international oils, dipped 0.5 percent to $77.42 a barrel in London. Meanwhile, wholesale gasoline was unchanged at $2.14 a gallon. Heating oil lost 0.3 percent to $2.24 a gallon and natural gas gained 1.5 percent to $2.92 per 1,000 cubic feet.

WASHINGTON (AP) — U.S.-Canada trade talks will resume next week. The negotiations on a revamped version of the North American Free Trade Agreement broke up on Friday and both sides plan to pick up where they left off on Wednesday. Canada’s top trade negotiator, Minister of Foreign Affairs Chrystia Freeland, is expressing confidence that Canada can reach a deal with the United States that would please all sides.

BISMARCK, N.D. (AP) —The Army Corps of Engineers has completed more than a year of additional study of the Dakota Access oil pipeline, saying the work has substantiated its earlier determination that the pipeline poses no significant environmental threats. A federal judge had ruled that the Corps “largely complied” with environmental law when permitting the pipeline, but ordered additional review. The corps says chances of an oil spill are low.

BOGOTA, Colombia (AP) — Colombian prosecutors have charged 13 Chiquita Brands International employees with aiding a right-wing death squad that murdered hundreds of people at the turn of the century. In a statement, prosecutors said they traced payments made by a local Chiquita affiliate to a paramilitary group that operated in Colombia’s volatile Uraba region from 1996 to 2004. Some of the money was allegedly used to buy hundreds of machine guns.

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