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Most world stocks up ...OPEC and non-OPEC nations expected to extend output cuts... Zuckerberg to deliver Harvard commencement speech

May 25, 2017

HONG KONG (AP) — Most world stock markets rose today as investors assessed the Federal Reserve’s latest meeting minutes, while crude oil’s rally fizzled out ahead of an OPEC meeting on production. Most European benchmarks climbed after an early wobble, but Germany’s DAX slipped 0.1 percent. Most Asian markets closed up. Wall Street is expected to open higher, with Dow futures up 0.3 percent and S&P futures up 0.2 percent.

VIENNA (AP) — OPEC and other oil producers appear set today to extend production cuts in an effort to shore up prices. But the hoped-for benefits could be short-lived. That’s due to U.S. shale producers. With prices above $50 from lows of last year, they are increasingly moving back into the market. Their output already is partially offsetting the cuts, and even more U.S. companies are poised to return if prices rise further.

WASHINGTON (AP) — President Donald Trump’s proposal to sell nearly half the U.S. emergency oil stockpile is sparking renewed debate about whether the Strategic Petroleum Reserve is still needed amid an ongoing oil production boom that has seen U.S. imports drop sharply in the past decade. Trump’s budget calls for selling an additional 270 million barrels of oil over the next decade, raising an estimated $16.6 billion. The proposal could help push the reserve below 300 million barrels by 2025. It’s now at 688 million barrels.

HARRISBURG, Pa. (AP) — A half-century-old job training and placement program for older Americans is on President Donald Trump’s chopping block in his proposed budget. Trump says there aren’t enough participants in the Senior Community Service Employee Program, which puts older Americans back to work. But participants say eliminating it would create real hardships for them.

NEW YORK (AP) — Today, Facebook’s Mark Zuckerberg goes back to Harvard to deliver the commencement address. Twelve years ago, Zuckerberg dropped out of Harvard to focus on Facebook, which he started in his dorm room in 2004.

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