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Bulls run on Wall Street...Oil prices turn higher...Comcast and Fox reach agreement on sports network

August 25, 2018

UNDATED (AP) — The stock market rally continues, Investors have been riding a wave of strong corporate earnings, even amid uncertainty over simmering global trade tensions. The S&P 500 index gained over 17 points yesterday to close at 2,874. The Dow Jones Industrial Average rose 133 points to 25,790. And the Nasdaq picked up 67 ½ points to end the day at 7,945. The Russell 2000 index rose over 8 points to 1,725.

UNDATED (AP) — The price of oil has snapped a seven-week losing streak, finishing the week about 5 percent higher. Benchmark U.S. crude gained 1.3 percent to settle at $68.72 per barrel in New York on Friday. Meanwhile, Brent crude, used to price international oils, rose 1.5 percent to close at $75.82 per barrel in London. In other energy futures trading, wholesale gasoline gained 0.9 percent to $2.08 a gallon and natural gas fell 1.6 percent to $2.92 per 1,000 cubic feet.

UNDATED (AP) — Comcast and the Fox Networks Group have announced they have reached an agreement for the cable carrier to continue to make the Big Ten Network available to its customers. The companies announced Friday they also agreed Comcast will carry all Big Ten games that are shown on Fox’s all-sports network, FS1.

DETROIT (AP) — Tesla CEO Elon Musk says investors have convinced him that he shouldn’t take the company private, so the firm will remain on the public stock markets. The eccentric and sometimes erratic CEO said in a statement late Friday that he made the decision based on feedback from shareholders, including institutional stockholders, who said they have internal rules limiting how much they can invest in a private company.

NORFOLK, Va. (AP) — The Port of Virginia says the Trump administration’s proposed tariff on Chinese-made gantry cranes could hamper a major expansion project. Port CEO John Reinhart says a 10 to 25 percent tariff could increase costs for expanding one of its terminals. The port approved spending $40 million last year for four massive gantry cranes that will help load and unload shipping containers. They’re supposed to be delivered from China next year.

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