NEW YORK (AP) — Stocks have finished the week at record-high levels, as traders took a discouraging jobs report as a sign that Congress will finally move to deliver more aid for the pandemic-stricken economy. The S&P 500 rose 0.9%, notching its third all-time high this week. The Dow Jones Industrial Average, Nasdaq composite and Russell 2000 index of smaller companies also closed at record highs. The gains were broad, with about 81% of the companies in the S&P 500 moving higher.
WASHINGTON (AP) — Under pressure from moderates in both parties, House Speaker Nancy Pelosi and Senate Majority Leader Mitch McConnell have initiated late-game negotiations in hopes of combining a relief package of, in all likelihood, less than $1 trillion with a separate $1.4 trillion governmentwide omnibus spending bill. After lengthy delays, optimism is finally building in Washington for a COVID-19 aid bill that would offer relief for businesses, the unemployed, schools and health care providers, among others struggling as caseloads are spiking. Success is not certain and considerable differences remain over details, such as whether to issue a second round of $1,200 direct payments to most Americans.
DETROIT (AP) — Kia is recalling nearly 295,000 vehicles in the U.S. because the engines can stall or catch fire. The recall comes a week after Kia and affiliated Korean automaker Hyundai were fined by the U.S. government for allegedly delaying recalls. The recall covers certain 2012 and 2013 Sorento SUVs, 2012 through 2015 Forte and Forte Koup cars, and 2011 through 2013 Optima Hybrid cars. Also included are 2014 and 2015 Soul SUVs and 2012 Sportage SUVs.
HARTFORD, Conn. (AP) — The Hartford Courant plans to close by the end of the year the newsroom and offices it has been operating from in Connecticut’s capital since the mid-1940s. The editor of the oldest continuously published newspaper in the United States told staffers Friday that the decision stems from real estate needs. The newspaper will continue to be published. But parent company Tribune Publishing Co. says it will consider whether it’s necessary to open a new office for the Courant.
MOSCOW (AP) — A Russian pipe-laying ship has sailed into position to resume construction of a German-Russian gas pipeline in the Baltic Sea that the United States has vehemently opposed. Ship monitoring data shows the Akademik Cherskiy vessel on Saturday reached the area off the coast of Poland where a section of the Nord Stream 2 pipeline remains uncompleted. Another Russian pipe-laying sailed off from the German port of Wismar, apparently heading to a different location where another pipeline section is to be built. The maneuvers followed Russia pledging to complete the pipeline despite the threat of U.S. sanctions.