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Stocks gain...Oil prices rise... Trump signs big storm aid bill

October 26, 2017

NEW YORK (AP) — Gains for technology companies and banks today helped the stock market recover some of its losses from earlier in the week. The Standard & Poor’s 500 index rose 3 points to 2,560. The Dow Jones industrial average gained 71 points to 23,400 but the Nasdaq composite lost 7 points to end the day at 6,556. Meanwhile, the Russell 2000 index of smaller-company stocks added 4 points to close at 1,497.

NEW YORK (AP) — Oil futures are higher today. Benchmark U.S. crude added 46 cents to close at $52.64 a barrel in New York. At the same time, Brent crude, used to price international oils, rose 86 cents, or 1.5 percent, to $59.30 a barrel in London. Meanwhile, wholesale gasoline rose 2 cents to $1.75 a gallon.

NEW YORK (AP) — Shares of Amazon soared today after the online retailer posted earnings that far surpassed Wall Street expectations. Amazon.com shares were already up 30 percent this year. The company, which is on the hunt for a second headquarters, also touted the results from its home devices. The results come a day after it announced a service called Amazon Key that will let people get their packages delivered to inside their doors.

WASHINGTON (AP) — President Donald Trump has signed a $36.5 billion emergency aid measure to refill disaster accounts, provide a cash infusion to Puerto Rico and bail out the federal flood insurance program. The president signed the bill today after the Senate sent him the measure earlier this week to help Florida, Texas and Puerto Rico after a devastating string of hurricanes. The money will also help Western states dealing with massive wildfires.

WASHINGTON (AP) — Multiple committees in the House and Senate are investigating a $300 million contract awarded to a small Montana company to help restore Puerto Rico’s damaged power grid. The Puerto Rico Electric Power Authority awarded the contract to tiny Whitefish Energy Holdings to restore transmission and distribution lines damaged or destroyed during Hurricane Maria. The 2-year-old company had just two full-time employees when the storm hit.

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