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3 winning weeks for S&P 500...Oil prices drop... Mnuchin: More China trade talks planned

January 12, 2019

NEW YORK (AP) — Stock indexes finished a little lower on Friday. But the S&P 500 nevertheless closed out its third straight winning week. The Dow Jones Industrial Average dipped 6 points, or less than 0.1 percent, to 23,995. The Nasdaq composite lost 14, or 0.2 percent, to end the day at 6,971. And the Russell 2000 index ticked up by 2 points, or 0.1 percent, to close at 1,447.

NEW YORK (AP) — Oil prices have fallen again. Benchmark U.S. crude lost 1.9 percent to settle at $51.59 per barrel on Friday, and Brent crude, the international standard, sank 1.9 percent to $60.48 a barrel in London. Natural gas gained 4.4 percent to $3.10 per 1,000 cubic feet. Heating oil lost 1.4 percent to $1.88 per gallon, and wholesale gasoline slipped 2.1 percent to $1.40 per gallon.

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin (mih-NOO’-shin) says the next round of trade negotiations with China will likely occur later this month in Washington. Mnuchin told reporters that Vice Premier Liu He is expected to lead a delegation to Washington “later in the month.” The treasury secretary says that the partial government shutdown “would have no impact” on the efforts to reach a trade deal by March 1.

HAWTHORNE, Calif. (AP) — SpaceX is laying off 10 percent of its roughly 6,000 workers, saying it needs to get leaner so it can succeed in enormous projects such as creating an interplanetary spacecraft. In a statement, Elon Musk’s firm says it needs to trim costs in order to take on ambitious projects that would have bankrupted other organizations. The Los Angeles Times reports that the cuts were announced Friday in an email to employees of the company.

NEW YORK (AP) — NBC News has reached its professional divorce agreement with anchor Megyn Kelly. The Fox News Channel transplant has been off the air since late October after suggesting that it was OK for white people to wear blackface on Halloween. Kelly was in the second year of a three-year contract that reportedly paid her more than $20 million a year. Attempts to establish her in both a prime-time newsmagazine and in the third hour of the “Today” show fell flat.

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