Stocks lower…Oil prices higher… Chamber of Commerce warns Trump about tariffs

NEW YORK (AP) — Stocks are mostly lower on Wall Street today as losses in consumer products companies and basic materials makers outweigh gains elsewhere including technology. The S&P 500 index fell 2 points, or 0.1 percent, to 2,747. The Dow Jones industrial average climbed over 115 points, or 0.5 percent, to 24,873 and the Nasdaq lost 15 points, or 0.2 percent, to 7,481. Also, the Russell 2000 index sank over 7 points, or 0.5 percent, to 1,576.

NEW YORK (AP) — Oil futures are up today. Benchmark U.S. crude added 23 cents to $61.19 a barrel in New York and Brent crude, used to price international oils, rose 23 cents to $65.12 per barrel in London. In other commodities trading, wholesale gasoline remained at $1.92 a gallon. Heating oil rose 1 cent to $1.89 a gallon and natural gas fell 5 cents to $2.68 per 1,000 cubic feet.

WASHINGTON (AP) — America’s largest business lobby is warning President Donald Trump against slapping big tariffs on Chinese imports. The U.S. Chamber of Commerce is sounding the alarm as the White House weighs whether to punish China for forcing U.S. companies to hand technology to Chinese companies. Chamber President Thomas Donohue says “tariffs are damaging taxes on American consumers” and “could lead to a destructive trade war.”

BATON ROUGE, La. (AP) — A federal appeals court has lifted a judge’s order that temporarily halts construction of a crude oil pipeline in a Louisiana swamp. A divided three-judge panel from the 5th U.S. Circuit Court of Appeals has granted Bayou Bridge Pipeline LLC’s request for an emergency stay that suspends the judge’s ruling while it appeals.

ATLANTA (AP) — Georgia’s highest court has ruled against Fiat Chrysler, which had appealed a $40 million verdict awarded to the family of a 4-year-old boy who died in a Jeep fire. Remington Walden died in 2012 after the Grand Cherokee he was riding in was hit from behind and burst into flames. The boy’s parents argued the company’s rear-mounted fuel tank design showed reckless disregard for human life. Fiat Chrysler says it’s disappointed in the decision.

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