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Good day on Wall Street...Apple reaches another milestone...Oil prices climb higher

August 2, 2018

NEW YORK (AP) — Stocks shook off an early stumble and have closed broadly higher, after Apple led a rally in technology companies. The S&P 500 index rose over 13 points today to close at 2,827. The Dow Jones Industrial Average slipped more than 7 points to 25,326 and the Nasdaq rose 95 points, to 7,802. Meanwhile, the Russell 2000 index of smaller-company stocks added over 12 points to end the day at 1,682.

SAN FRANCISCO (AP) — Apple is the world’s first publicly traded company to be valued at $1 trillion. The maker of the iPhone and other gadgets reached the milestone a couple of hours into the trading session today when its shares reached $207. Amazon is the second-most valuable company with a market value of $895 billion. And Alphabet, the parent company of Google, is third at $863 billion.

NEW YORK (AP) — Oil futures are higher again today. Benchmark U.S. crude rose 1.9 percent to $68.96 a barrel in New York. At the same time, Brent crude, used to price international oils, gained 1.5 percent to $73.45 a barrel in London. In other energy commodity futures, wholesale gasoline rose 1.1 percent to $2.07 a gallon. Heating oil picked up 1.6 percent to $2.13 a gallon while natural gas climbed 2.1 percent to $2.82 per 1,000 cubic feet.

WASHINGTON (AP) — The United States is trying to patch things up with its friends. U.S. and Mexican negotiators are meeting in Washington today and tomorrow to work on a rewrite of the North American Free Trade Agreement. It comes as the trade war with China appears to be heating up. Last week, President Donald Trump reached a cease-fire in a potentially destructive dispute with the European Union over trade in cars, trucks and auto parts.

WASHINGTON (AP) — President Donald Trump is siding with House Republicans in the showdown over work requirements for food stamp recipients in the farm bill. Trump tweeted today that he hopes lawmakers “will be able to leave the WORK REQUIREMENTS FOR FOOD STAMPS PROVISION that the House approved” in the final version of the legislation. The House and Senate are preparing to begin negotiations on the farm bill this fall.

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