Stocks end lower...Oil mixed... WH economist paints rosy forecast for economy
UNDATED (AP) — Stocks gave up an early gain and have ended lower on Wall Street as a late afternoon spike in bond yields sent investors heading to the exits. Minutes from the latest Federal Reserve policy meeting showed bullish sentiment among policymakers. That signals more interest rate hikes ahead. The S&P 500 index fell nearly 15 points to 2,701. The Dow industrials dropped fell 167 points to 24,797 and the Nasdaq lost 16 points to end the day at 7,218.
UNDATED (AP) —Futures are mixed in the oil markets. Benchmark U.S. crude fell 11 cents to settle at $61.68 per barrel in New York today. But Brent crude, used to price international oils, rose 17 cents to close at $65.42 per barrel in London. In other energy futures trading, heating oil was little changed at $1.93 a gallon. Wholesale gasoline added a penny to $1.76 a gallon and natural gas rose 4 cents to $2.66 per 1,000 cubic feet.
WASHINGTON (AP) — The White House’s top economist says the U.S. could achieve annual growth rates of 3 percent through the next decade if President Donald Trump’s policies on regulations and infrastructure are enacted. The Council of Economic Advisers released its annual economic report today. It praises the effects of the tax cuts and tax overhaul. The report forecasts an overall average annual growth rate of 2.2 percent through 2028.
DETROIT (AP) — Ford has ousted one of its top executives over allegations of unspecified inappropriate behavior. The company says North America President Raj Nair is leaving the company immediately. Ford says the move comes after an internal investigation into reports of inappropriate behavior. The company says Nair’s behavior was not consistent with Ford’s code of conduct. Nair has led North America since June 1 of last year.
NEW YORK (AP) — Four months before “Jurassic World: Fallen Kingdom” hits theaters, Universal Pictures has announced plans for a third installment in the rebooted dinosaur franchise. Universal says “Jurassic World 3″ will land in June 2021. “Jurassic World” ranks among the biggest box-office hits. It launched with a $208.8 million opening weekend and finished with $1.7 billion worldwide in ticket sales.