Stock market holds steady...Oil futures a little higher... More car trips predicted over the holiday
NEW YORK (AP) — Major stock indexes have ended the day pretty much where they started as trading was quiet ahead of the Memorial Day holiday. Meager gains by the S&P 500 index and the Nasdaq composite were enough to leave both at record highs. Both marked their seventh straight day of gains. The S&P 500 edged up a fraction to 2,415. The Dow fell over 2 points, to 21,080. And the Nasdaq rose 5 points, or 0.1 percent, to 6,210.
NEW YORK (AP) — Crude oil prices are bouncing back a bit from a sharp drop the day before. Benchmark U.S. crude rose 90 cents, or 1.8 percent, to $49.80 a barrel in New York today. Meanwhile, Brent crude, the international standard, added 69 cents, or 1.3 percent, to $52.15 a barrel in London. On Thursday a group of 24 nations including the OPEC countries agreed to a nine-month extension of a cut in oil production.
UNDATED (AP) — Stable gasoline prices are expected to fuel a slight increase in long trips this Memorial Day weekend. The AAA auto club predicts that 39 million Americans will make a trip of at least 50 miles this weekend, up 2.7 percent from the same holiday last year. The nationwide average price for a gallon of regular today is $2.37. That’s unchanged from early January.
TAORMINA, Italy (AP) — A top White House official says President Donald Trump’s views on climate change are “evolving” following his discussions with European leaders who are pushing him to stay in the Paris climate accord. Economic adviser Gary Cohn says Trump feels “much more knowledgeable” about the matter following his meetings Friday with leaders at the Group of 7 meeting in Sicily.
NEW YORK (AP) — Financial services firm USAA is facing a backlash to its decision to pull advertising from Sean Hannity’s show on Fox News Channel. The company says it is withdrawing its commercials from other opinion-based TV shows. USAA has also advertised on Rachel Maddow’s MSNBC show. USAA, which caters to U.S. military members, veterans and their families, found its Facebook page clogged with messages from customers threatening to end their accounts.