Stocks rally...Oil prices are up... Employees of aerospace manufacturer in Kansas get bonuses
UNDATED (AP) — A broad rally on Wall Street capping several days of choppy trading is giving the stock market a modest gain for the week. Technology companies, banks and health care stocks accounted for much of today’s market gains. The S&P 500 index climbed 43 points, or 1.6 percent, to 2,747.. The Dow industrials picked up 347 points, or 1.4 percent, to close at 25,309 and the Nasdaq gained 127 points, or 1.8 percent, to end the day at 7,337.
UNDATED (AP) — Energy companies also rose during today’s stock market rally along with crude oil prices. Benchmark U.S. crude picked up 78 cents, or 1.2 percent, to settle at $63.55 a barrel in New York. At the same time, Brent crude, used to price international oils, gained 92 cents, or 1.4 percent, to close at $67.31 a barrel in London. In other energy futures trading, heating oil gained 2 cents to $1.97 a gallon and wholesale gasoline added 4 cents to $1.81 a gallon.
WICHITA, Kan. (AP) — About 11,500 Spirit AeroSystems workers in Wichita, Kansas, have received bonuses. According to the Wichita Eagle, that’s because the aircraft supplier reported a 13 percent year-over-year increase in profit on revenue of $7 billion last year. A Spirit spokeswoman suggests the total amount of the bonuses is substantial. The bonuses are awarded through the company’s short-term incentive plan.
PARIS (AP) — The watchdog that monitors global and illicit misuse of funds has cited North Korea as a top source of “ongoing and substantial” money laundering and terrorist financing and urged countries to close North Korean banks. The Financial Action Task Force says in its report that North Korea has failed to address “significant deficiencies” in its system to combat the ills that pose a risk to the international financial system.
BRUSSELS (AP) — A top European Union official says Britain’s view of its future ties with the EU after Brexit seems delusional. European Council President Donald Tusk says “if the media reports are correct, I am afraid that the U.K. position today is based on pure illusion.” He spoke after an EU leaders’ summit. They have been appealing for Britain to explain its vision of future ties, so Tusk can draft negotiating guidelines on the issue for next month.