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Stocks on six-week run... Oil prices gain... Fox: Trump considering a two-fer for the Fed

October 20, 2017

UNDATED (AP) — Stocks are higher on Wall Street, continuing a record-setting drive for major indexes. Banks and technology companies posted some of the biggest gains today. The Standard & Poor’s 500 index rose 13 points to 2,575. The Dow Jones industrial average gained 165 points to close at 23,328. The Nasdaq composite climbed 24 points to 6,629. The S&P 500 and the Dow closed out their sixth straight week of gains.

UNDATED (AP) — Oil prices have closed higher after wavering between small gains and losses for much of the day. Benchmark U.S. crude added 18 cents to settle at $51.47 a barrel in New York. Meanwhile, Brent crude, used to price international oils, gained 52 cents to $57.75 a barrel in London. In other energy trading, wholesale gasoline rose 3 cents to $1.68 a gallon.

WASHINGTON (AP) — President Donald Trump is signaling that he’s considering dual nominations for the Federal Reserve’s top two jobs. According to Fox Business, Trump may appoint Jerome Powell, a member of the Fed’s board, potentially as chairman, and John Taylor, a Stanford University economist, as vice chairman. He was asked about those two possible choices in an interview that will air on Sunday.

NEW YORK (AP) — Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo would not say if they were fired. The bank is trying to move beyond problems in its consumer banking operations that have tarnished its brand. It’s already paid millions in fines and settlements.

LITTLE ROCK, Ark. (AP) — A major agribusiness company is suing Arkansas regulators over their decision to ban its version of an herbicide. Monsanto asked a state judge to block regulations that prevent the company’s dicamba weed killer from being used from April 15 through September 15 each year. The herbicide has drawn complaints from farmers in several states who say the weed killer has drifted onto their crops and caused widespread damage.

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