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Another record-setting day on Wall Street ... Trump-Defense Spending ... Takata-Court Plea

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NEW YORK (AP) — The Dow Jones industrials closed at a record high for the 12th consecutive time. The Standard & Poor's 500 index, the benchmark favored by professional investors, also closed at a record high today. The modest gains came after an indecisive day for U.S. stocks that sent indexes wavering between small gains and losses. The Dow gained 15 points, to 20,837. The S&P 500 index gained 2 points, to 2,367 and the Nasdaq composite increased 16 points to 5,861.

WASHINGTON (AP) — President Donald Trump is proposing a huge $54 billion surge in U.S. military spending for new aircraft, ships and fighters in his first federal budget. At the same time, he wants to slash big chunks from domestic programs and foreign aid to make the government "do more with less."

DETROIT (AP) — Japanese auto parts maker Takata Corp. pleaded guilty to fraud today and agreed to pay a $1 billion penalty for concealing a deadly defect in millions of its air bags. Takata admitted hiding evidence that its air bag inflators can explode with too much force, hurling shrapnel into drivers and passengers.

LOS ANGELES (AP) — Construction has begun on a new $1.6 billion terminal at Los Angeles International Airport. Mayor Eric Garcetti and other city leaders helped break ground today on the Midfield Satellite Concourse. It will connect to the Tom Bradley International Terminal via an underground tunnel. The 750,000-square-foot terminal will include 12 gates and a new baggage system, as well as restaurants and shops.

WASHINGTON (AP) — Billionaire investor Wilbur Ross is headed toward confirmation as Commerce secretary in President Donald Trump's administration. The Senate is set to vote on Ross' nomination this evening. Ross easily cleared the Senate Commerce Committee and a procedural vote by the full Senate.

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