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Stocks higher…Disney’s Q4 strong…Modest rise in consumer borrowing

NEW YORK (AP) _ Stocks closed higher on Wall Street following hopes that China and the U.S. are getting closer to a trade deal. The Dow and the S&P ended at record highs again Thursday, but they would have been even higher if not for a late-afternoon report saying a proposed rollback of tariffs was facing stiff opposition in the White House. Technology companies rose. Bond prices fell sharply, sending yields higher. Gold prices fell as traders embraced riskier assets. The S&P rose 8 points, or 0.3, to 3,085. The Dow climbed 182 points, or 0.7%, to 27,674. The Nasdaq added 23 points, or 0.3%, to 8,434.

NEW YORK (AP) _ Disney’s fiscal fourth-quarter net income beat expectations due to strong theater revenue from films like “The Lion King,” and “Toy Story 4” and higher parks revenue. The results came as Disney readies its streaming service Disney Plus which debuts next Tuesday.

WASHINGTON (AP) _ Consumer borrowing rose in September at a modest pace, led by higher student and auto loans, though a category that mostly includes credit cards fell for the second straight month. The Federal Reserve says that consumer borrowing increased 2.8% to $4.15 trillion.

NEW YORK (AP) _ Authorities have charged a U.S. company with illegally selling Chinese-made security and surveillance equipment to the American military and other customers. Federal prosecutors say that some of the equipment sold by Aventura Technologies ended up at Army bases and even on an aircraft carrier. They accused the company of putting fake labels on the equipment that said it was made in the U.S. The scheme began to unravel after the company sold 25 body cameras to the U.S. Air Force and security analysts discovered downloaded images including a logo of the Chinese Ministry of Public Security on the devices.

WASHINGTON (AP) _ Juul Labs says it will stop selling its mint-flavored electronic cigarettes. Mint is the vaping company’s best-selling flavor. The voluntary step comes days after new research showed that mint was the most popular vaping flavor among many high school students who use e-cigarettes. The federal government is expected to soon unveil its plans for removing most vaping flavors.

Associated Press


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