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World markets generally higher ... Commerce reports due out ... China to cut steel, coal jobs

By The Associated Press | Posted - Mar. 1, 2017 at 4:34 a.m.

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TOKYO (AP) — Global markets were mostly higher today after President Donald Trump delivered a relatively upbeat speech to the U.S. Congress. Investors were watching for signals on what's ahead in trade, regulations and tax policies, though they got few specifics. Wall Street looks set for gains, with Dow futures up 0.3 percent and S&P 500 futures 0.4 percent higher.

NEW YORK (AP) — Benchmark U.S. crude lost 12 cents to $53.89 a barrel in electronic trading on the New York Mercantile Exchange. It slipped 4 cents, or 0.1 percent, to $54.01 Tuesday. Brent crude, which is used to price international oils, fell 6 cents to $56.45 a barrel in London. The dollar rose to 113.57 yen from Tuesday's 112.57 yen.

WASHINGTON (AP) — In today's economic news, the Commerce Department will release personal income and spending for January and construction spending, also for January. The Institute for Supply Management publishes its manufacturing index for February. And the Federal Reserve releases its Beige Book.

BEIJING (AP) — China will cut another 500,000 steel and coal jobs this year to reduce excess production capacity, amid complaints the industries are flooding global markets and depressing prices. China's labor minister says the government will provide support for the laid-off workers to find other jobs, start companies or retire.

LONDON (AP) — Uber's CEO says he needs leadership help after a video has emerged of him arguing with a driver about fares. In the video obtained by Bloomberg News, Travis Kalanick is seen discussing Uber's business model with the driver. When the driver argues that Kalanick is lowering fares, Kalanick lashes back angrily. Kalanick has apologized.

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The Associated Press


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