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Volatile Friday trading ends mostly higher...Pence, Xi air differences at summit...Florida sues Walgreens, CVS over opioids

November 17, 2018

NEW YORK (AP) — Wall Street capped a day of volatile trading with a late-afternoon buying spree Friday that sent U.S. stock indexes to a mostly higher finish. Despite the 11th-hour rally, the benchmark S&P 500 index ended with its second weekly loss in four weeks. The S&P 500 closed up six points on Friday, the Dow Jones Industrial Average gained 124 and the Nasdaq composite lost 11.16 points.

PORT MORESBY, Papua New Guinea (AP) — Vice President Mike Pence and Chinese President Xi Jinping (shee jihn-peeng) have traded barbs in speeches at a summit of world leaders Saturday, outlining competing visions as trade and other tensions between them simmer. Xi said countries are facing a choice of cooperation or confrontation as protectionism and unilateralism spreads. Pence said there would be no letup in President Donald Trump’s policy of combating China’s mercantilist trade policy and intellectual property theft.

FORT LAUDERDALE, Fla. (AP) — Florida is suing the nation’s two largest drugstore chains, alleging they added to the state’s opioid crisis. Attorney General Pam Bondi announced late Friday that she has added Walgreens and CVS to a state-court lawsuit filed last spring against Purdue Pharma, the maker of oxycontin, and several opioid distributors. Bondi alleges that CVS and Walgreens failed to stop “suspicious orders of opioids” and “dispensed unreasonable quantities of opioids from their pharmacies.”

LAWRENCE, Mass. (AP) — The company at the center of the natural gas explosions in Massachusetts in September says it has restored gas service to about 60 percent of affected homes, but nearly 1,760 families remain in temporary housing. The Sept. 13 blasts in Andover, Lawrence and North Andover destroyed or damaged more than 130 structures, injured dozens and left at least one person dead. Columbia Gas on Saturday released new data showing service has been restored to about 4,450 of the nearly 7,500 gas meters that were shut off after the explosions. Gas service isn’t expected to be fully restored until early December.

NEW YORK (AP) — Residents of the New York City public housing complex near the spot where Amazon plans to put a new headquarters have mixed reactions to the global behemoth coming to the neighborhood. Some of those who live in the Queensbridge Houses in Long Island City doubt they will be able to get any of the thousands of jobs the company is promising to bring to the area. Others are hopeful they could benefit. Amazon’s new space is about a half mile to the south and would be built on blocks that are now mostly industrial.

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