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Market finishes lower...Oil prices higher... Trump chooses Malpass for World Bank post

February 6, 2019

UNDATED (AP) — A mixed bag of corporate earnings have nudged U.S. stocks slightly lower today, snapping the market’s five-day winning streak. The Dow fell 21 points, or 0.1 percent, to 25,390. The S&P 500 dropped 6 points, or 0.2 percent, to 2,731. And the Nasdaq slid 26 points, or 0.4 percent, to 7,375. At the same time, the Russell 2000 gave up 2 points, or 0.1 percent, to close at 1,518. Major European indexes also finished lower.

UNDATED (AP) — Crude oil futures prices ended higher on the New York Mercantile Exchange. The near-month contract for the benchmark grade rose 35 cents, closing at $54.01 a barrel.

WASHINGTON (AP) — President Donald Trump says Treasury Department official David Malpass is his choice to lead the World Bank. Trump introduced Malpass today as the “right person to take on this incredibly important job.” Malpass is a sharp critic of the 189-nation lending institution. Malpass says a key goal will be to implement changes to the bank that he and Treasury Secretary Steven Mnuchin helped negotiate, and to ensure that women achieve full participation in developing economies.

UNDATED (AP) — Nearly two weeks after the end of the longest government shutdown in U.S history, many federal workers are reeling financially and waiting to be made whole by government agencies that have struggled with payroll glitches and delays in ensuring everyone is paid. Many haven’t received full back pay while scrambling to catch up on bills — all while another government shutdown looms next week. 

NEW YORK (AP) — The nation’s federal financial watchdog has announced its plans to roll back most of its consumer protections governing the payday lending industry. It’s the Consumer Financial Protection Bureau’s first rollback of regulations under its new Director, Kathy Kraninger, who took over the bureau late last year. The cornerstone of the regulations focused on making sure borrowers could afford to repay a payday loan without being stuck in a cycle of debt.

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