Wall Street ends trading on a slightly higher note...Oil prices are down... Rebuilding grants proposed
Jun. 08, 2018
NEW YORK (AP) — The stock market shook off a bumpy start and has ended modestly higher today, led by gains in consumer products and healthcare companies. Energy companies slipped along with the price of oil. The S&P 500 added over 8 points, or 0.3 percent, to 2,779. The Dow rose 75 points, or 0.3 percent, to 25,316 and the Nasdaq gained 10 points, or 0.1 percent, to 7,645. And the Russell 2000 rose more than 4 points, or 0.3 percent, to close at 1,672.
NEW YORK (AP) — Oil futures lost some ground today. Benchmark U.S. crude slid 0.3 percent to $65.74 a barrel in New York. At the same time, Brent crude, used to price international oils, fell 0.6 percent to $76.82 per barrel in London. In other energy commodity trading, wholesale gasoline stayed at $2.12 a gallon. Heating oil shed 0.7 percent to $2.16 a gallon and natural gas fell 1.4 percent to $2.89 per 1,000 cubic feet.
UNDATED (AP) — The Trump administration is proposing nearly $1.5 billion in proposed grants to help rebuild highways, bridges and railroads around the country. Transportation Secretary Elaine Chao announced 26 grants spanning 23 states today, calling them a down payment on the administration's plan to improve infrastructure. Rebuilding the nation's infrastructure was one of President Donald Trump's campaign promises, but he hasn't made much headway.
DETROIT (AP) — Kia is recalling over a half-million vehicles in the U.S. because the air bags may not work in a crash. The recall apparently is related to federal investigation into air bag failures in Kia and partner Hyundai vehicles that were linked to four deaths. Vehicles covered by the recall include 2010 through 2013 Forte compact cars and 2011 through 2013 Optima midsize cars. Also covered are Optima Hybrid and Sedona minivans from 2011 and 2012.
DETROIT (AP) — The United Automobile Workers-Chrysler National Training Center is suing several people connected to a scheme that funneled cash and gifts to union leaders. The Detroit News reports the lawsuit seeks to recover more than $4 million. Named are former Fiat Chrysler executive Al Iacobelli, former financial analyst Jerome Durden, and Monica Morgan, widow of deceased UAW vice president General Holiefield. They have all pleaded guilty in the federal criminal case.