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Stock market gains...Oil futures edge higher... Senate votes to kill FCC’s “net neutrality” rule

May 16, 2018

UNDATED (AP) — Stocks have notched solid gains, recouping some of the market’s losses from a day earlier. Technology and health care companies drove much of today’s rebound. The S&P 500 rose 11 points, or 0.4 percent, to 2,722. The Dow gained 62 ½ points, or 0.3 percent, to close at 24,768. The Nasdaq added over 46 points, or 0.6 percent, to 7,398 and the Russell 2000 picked up 16 points, or 1 percent, to end the day at 1,616.

UNDATED (AP) — Benchmark U.S. crude oil recovered from an early slide today, adding 18 cents to settle at $71.49 a barrel in New York. At the same time, Brent crude, used to price international oil, rose 85 cents to close at $79.28 a barrel in London. In other energy futures trading, heating oil rose 2 cents to $2.27 a gallon. Wholesale gasoline climbed 5 cents, or 2 percent, to $2.25 a gallon and natural gas lost 2 cents to $2.82 per 1,000 cubic feet.

WASHINGTON (AP) — The Senate has voted to kill a Federal Communications Commission rule that repealed the Obama administration’s ban on internet providers blocking or slowing down certain content. Back in December, the FCC repealed “net neutrality” rules. Three Republicans joined with Democrats in voting to repeal the FCC rule that was set to go into effect next month. The final vote was 52-47.

DETROIT (AP) — Ford is resuming production of its F-150 pickup following a fire at a plant where parts for the vehicle are made. The automaker says work will restart Friday at the Dearborn Truck Plant in Michigan. Production of Ford’s Super Duty at its Louisville, Kentucky, truck plant and the F-150 at its Kansas City, Missouri, assembly plant are targeted to resume Monday. A May 2 fire severely damaged the main plant at the Meridian Magnesium Products of America factory in Michigan.

PHOENIX (AP) — Health officials say nearly two dozen more cases of a food poisoning outbreak linked to romaine lettuce grown in Arizona have been reported. The Centers for Disease Control and Prevention says the total number of people sickened by a strain of E. coli is now 172 across 32 states. The CDC says the lettuce should no longer be in stores and restaurants because of its three-week shelf life.

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