Stocks gain...Crude falls...New York and Virginia celebrate
NEW YORK (AP) — Stock indexes have veered higher in afternoon trading, bouncing back from an uneven start. Gains in technology companies, banks and industrial stocks outweighed losses in household goods sellers, utilities and elsewhere in the market. Energy stocks slumped as the price of crude oil headed for its 12th straight decline. Bond prices rose, sending yields lower.
NEW YORK (AP) — U.S. crude oil is seeing its biggest drop since August 2011, on track for its 12th consecutive decline. Benchmark U.S. crude plummeted 6.6 percent to $55.97 a barrel in New York, the lowest level since December 2017. Brent crude, used to price international oils, dropped 6.2 percent to $65.78 a barrel in London.
NEW YORK (AP) — New York officials are cheering Amazon’s decision to build a new headquarters in a quickly developing corner of the city. Governor Andrew Cuomo, who said he’d be willing to change his name to “Amazon Cuomo” to land the deal at one point, said the state should be proud for landing, “one of the largest, most competitive economic development investments in U.S. history.” Amazon is also locating a headquarters in Arlington, Virginia.
WASHINGTON (AP) — The federal government recorded a deficit of $100.5 billion in October, a big increase from a year ago that was primarily caused by quirks in the calendar. The Treasury Department says the deficit shot up 59 percent from the same month a year ago. Last year’s October deficit was smaller because the government paid $48 billion in benefits in September because Oct. 1 fell on the weekend.
MADRID (AP) — Spain’s government is eyeing ambitious steps to tackle climate change, including a ban on the sale of gas and diesel cars from 2040. The government presented a blueprint today that foresees an end to state financial subsidies for fossil fuels and a prohibition on fracking.