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Stock market takes another hit...Oil prices higher... Millions sign up for ACA health plans

January 3, 2019

NEW YORK (AP) — Stocks have tumbled on Wall Street, with technology companies suffering their worst loss in seven years, after Apple reported that iPhone sales in China are slumping. The S&P 500 lost 62 points to close at 2,447.The Dow slid dropped 660 points, or 2.8 percent, to 22,868. The Nasdaq, which has a high concentration of tech stocks, retreated 202 points, or 3 percent, to end the day at 6,463.

NEW YORK (AP) — Oil prices are edging higher. Benchmark U.S. crude rose 1.2 percent to $47.09 a barrel in New York today while Brent crude rose 1.9 percent to $55.95 a barrel in London. Oil prices have nosedived almost 40 percent since early October, and investors’ fears about falling demand in China and elsewhere were a key reason for the decline.

WASHINGTON (AP) — The government says 8.4 million Americans have signed up for coverage next year under the Affordable Care Act, reflecting steady enrollment even as supporters of the law appeal a court ruling that declares it unconstitutional. The numbers from the Centers for Medicare and Medicaid Services reflect the 39 states served by the HealthCare.gov website. The final count will be higher, after major states like California and New York report.

WASHINGTON (AP) — With President Donald Trump warning that it “could be a long time” before the partial government shutdown ends, concerns are rising about potential economic damage given it’s coinciding with other threats. Most analysts don’t regard the shutdown alone as severe enough to imperil an economic expansion. But should it drag into February, the slowdown in government activity could help shake confidence and cause businesses and consumers to stop spending.

SUMMIT, N.J. (AP) — Bristol-Myers Squibb is buying Celgene in a cash-and-stock deal valued at about $74 billion. Shareholders of Celgene Corp., based in Summit, New Jersey, will receive one share of the cancer drug maker, plus $50 in cash for each share they own. The combined company will have nine products with more than $1 billion in annual sales. Shareholders of Bristol-Myers Squibb Co., based in New York, would own about 69 percent of the company.

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