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Stocks bounce back...Oil prices decline Google CEO to testify before Congress next week

November 28, 2018

NEW YORK (AP) — Stocks have rocketed to their biggest gain in eight months after Federal Reserve Chairman Jerome Powell hinted that the Fed might not raise interest rates much further. The Dow surged 617 points, or 2.5 percent today, to close at 25,366. The S&P 500 advanced 61 points, or 2.3 percent, to 2,743 and the Nasdaq rose 208 points, or 2.9 percent, to 7,291. Meanwhile, the Russell 2000 gained 37 points, or 2.5 percent, to 1,530.

NEW YORK (AP) —Oil prices have fallen again. Benchmark U.S. crude slipped 2.5 percent to $50.29 a barrel in New York today. At the same time, Brent crude, the standard for international oil prices, sank 2.4 percent to $58.76 a barrel in London. Meanwhile, wholesale gasoline lost 1.6 percent to $1.40 a gallon. Heating oil fell 2.5 percent to $1.84 a gallon and natural gas rocketed 10.6 percent to $14.72 per 1,000 cubic feet.

SAN FRANCISCO (AP) — Google CEO Sundar Pichai will testify next week at a congressional hearing on the company’s business practices, just three months after aides put up an empty chair to symbolize his refusal to appear. Among other things, lawmakers are expected to grill him on whether Google rigs its influential search engine to stifle conservative voices. President Donald Trump asserts that Google’s search engine favors media coverage that he believes distributes “fake news.”

BISMARCK, N.D. (AP) — The Texas-based developer of the Dakota Access oil pipeline says it has complied with the terms of a 2017 agreement settling allegations it violated North Dakota rules during construction. Energy Transfer Partners was accused of removing too many trees and improperly handling a pipeline route change. The settlement required ETP to plant a certain number of trees and to develop an industry handbook on how to properly handle route adjustments.

TRAVERSE CITY, Mich. (AP) — A federal plan to prevent Asian carp from establishing themselves in the Great Lakes has gotten considerably more expensive. The U.S. Army Corps of Engineers this week released its final strategy for placing technological roadblocks to the invasive fish at a choke point between the carp-infested Illinois River and Lake Michigan. The price tag is nearly $778 million, which is nearly three times the $275 estimate in a 2017 draft version.

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