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Stocks sag...Trump plans to eliminate tariffs of Canadian and Mexican steel... Fiat Chrysler recalls some minivans

May 17, 2019

UNDATED (AP) _ Stocks have ended the day lower on Wall Street and notched their second-straight weekly loss. Investors appear whipsawed by contradictory reports on the Trump administration’s array of trade fights. The S&P 500 index fell 16 points to 2,859. The Dow lost 98 points to close at 25,764. And the Nasdaq dropped 81 points to 7,816. The Russell 2000 lost 21 points to end the day at 1535.

UNDATED (AP) _ Energy futures have finished lower. Benchmark U.S. crude slipped 0.2% to settle at $62.76 per barrel in New York today. At the same time, Brent crude, the international standard, closed 0.6% lower at $72.21 per barre in London. In other commodity futures, wholesale gasoline dropped 0.7% to $2.05 per gallon. Heating oil fell 1.3% to $2.10 per gallon. And natural gas lost 0.3% to $2.63 per 1,000 cubic feet.

WASHINGTON (AP) _ Some business and farm groups are cheering the agreement lifting import taxes on steel and aluminum from Canada and Mexico. In turn, those two nations will eliminate tariffs they imposed on a wide range of U.S. goods, such as pork, whiskey and orange juice. The groups are now turning their attention to efforts to advance a new trade deal to replace the North American Free Trade Agreement.

DETROIT (AP) _ Fiat Chrysler is recalling over 208,000 minivans in North America because they could lose power-assisted steering or engines can stall. The recall covers certain Chrysler Pacifica minivans from the 2017 through 2019 model years. The company says a wiring harness can become contaminated with sealer, causing an electrical short-circuit.

LONDON (AP) _ Amazon is investing in British meal delivery company Deliveroo, giving the online shopping behemoth a larger stake in the fast-growing restaurant delivery business. Deliveroo says that it raised $575 million from a number of investors led by Amazon. Amazon failed to get its own restaurant delivery business going in the United Kingdom, shutting it down for good late last year. It faced tough competition from Deliveroo, as well as its other rivals.