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Stock gains...Trump choice to head World Bank...Judge orders Musk meeting

April 5, 2019

NEW YORK (AP) — Stocks moved broadly higher Friday afternoon on Wall Street after a better-than-expected report on U.S. jobs eased worries that the economy is slowing too sharply. Challenges still lay ahead for the market, though, including expectations for the weakest batch of corporate earnings reports in years. The S&P 500 was up 0.4% as of 1:50 p.m. Eastern time. The Dow Jones Industrial Average rose 28 points, or 0.1%, to 26,412, and the Nasdaq composite gained 0.5%. The Russell 2000 index of smaller company stocks picked up 0.8%.

WASHINGTON (AP) — David Malpass, the Treasury official nominated by President Donald Trump to head the 189-nation World Bank, was elected to the job on Friday. Malpass was approved unanimously by the bank’s 25-member executive board on Friday. He will begin a five-year term next Tuesday succeeding Jim Yong Kim, an Obama administration pick who stepped down earlier this year, three years before his term was to end. Malpass has been a longtime critics of the World Bank and its sister lending organization, the International Monetary Fund.

DETROIT (AP) — A federal judge in New York has ordered Tesla CEO Elon Musk and U.S. securities regulators to meet for at least an hour to try and settle a dispute over Musk’s tweets. Judge Alison Nathan also told both sides Friday to send her a letter by April 18 saying whether they have reached a deal. If they don’t, Nathan will decide on the Securities and Exchange Commission’s motion to find Musk in contempt.

WASHINGTON (AP) — A government watchdog says it will review costly outside contracts to provide publicity for Medicare chief Seema Verma, whose agency oversees health insurance programs covering more than 100 million Americans. The Health and Human Services inspector general’s office said Friday it will examine several publicity contracts, following a request by congressional Democrats. The Centers for Medicare and Medicaid Services stopped work on the contracts this week while HHS, its parent agency, conducts its own review.

PARIS (AP) — Interior ministers from the Group of Seven advanced economies are turning their attention to theworld’s top security challenges including migrant trafficking. At the end of a two-day meeting in Paris, the G-7 ministers agreed to grant asylum to certain refugees and to return other migrants who are not entitled to stay back to their home countries. It’s a theme that could dovetail well with the group’s foreign minister meeting taking place through Saturday.