Stocks wobble...Mr. “Nine-nine-nine” to Fed...Marijuana policy proposal
NEW YORK (AP) — Another wobbly day of trading on Wall Street ended Thursday with modest gains, nudging the market’s winning streak to a sixth straight day. Banks, big retailers and communication services companies accounted for much of the gains as a late-afternoon flurry of buying drove stocks higher. Technology and health care stocks lagged the most. The Dow gained 166 points.
WASHINGTON (AP) — President Donald Trump says he’s recommended Herman Cain, a political ally and former presidential candidate, for a seat on the Federal Reserve board. Cain, a former CEO of Godfather’s Pizza, ran for the 2012 Republican presidential nomination but dropped out after allegations of sexual harassment and infidelity. The president has already said he plans to nominate another conservative ally, Stephen Moore, for a separate vacancy on the board.
ADDIS ABABA, Ethiopia (AP) — Boeing’s stock rose Thursday despite the release of a preliminary report that highlighted the role of an automated anti-stall system on its best-selling plane in two deadly crashes. Key findings of the Ethiopian report had already leaked, so investors may have been prepared for more bad news around Boeing’s 737 Max jet. The shares gained 70 cents, or 1.3 percent, to close at $53.51.
TOKYO (AP) — Carlos Ghosn (gohn) predicted his latest arrest in a French television interview filmed hours before prosecutors descended on his Tokyo apartment. The former star boss of carmakers Nissan and Renault told TF1 television that he faced “very probable arrest” but said he didn’t know what the charges would be. Ghosn has been charged in Japan with under-reporting his compensation and breach of trust. He was arrested Thursday on new allegations involving funds sent to an overseas dealership.
DENVER (AP) — A bipartisan group of U.S. lawmakers has reintroduced legislation that would ensure states have the right to enact their own marijuana policies within their borders. The Marijuana Business Daily reports the matching bills brought back to the House and Senate on Thursday would create an exemption in the Controlled Substances Act to protect states’ ability to determine their own best approaches to cannabis without fear of federal reprisal.