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Stocks rally...OIL prices go lower... Venezuela gets favorable court ruling on oil facility seizure

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NEW YORK (AP) — Stocks are higher on Wall Street after the government reported solid job gains in the U.S. last month. The gains today were led by technology and industrial companies. The Standard & Poor's 500 index rose over 7 points, or 0.3 percent, to 2,372. The Dow Jones industrial average gained nearly 45 points, or 0.2 percent, to 20,903. The Nasdaq composite increased 23 points, or 0.4 percent, to 5,861.

NEW YORK (AP) — Oil prices have moved lower for the fifth day in a row. Benchmark U.S. crude dipped another 79 cents, or 1.6 percent, to $48.49 a barrel today in New York. After small losses early in the week, the price of U.S. crude dropped 9 percent over the last three days after the government reported a big increase in stockpiles. Meanwhile, Brent crude, the international standard, lost 82 cents, or 1.6 percent, to $51.37 a barrel in London.

WASHINGTON (AP) — A World Bank arbitration panel has determined that Venezuela will not have to pay $1.4 billion to Exxon Mobil Corp. for confiscating company assets during a wave of nationalizations. Exxon Mobil asked the bank's investment dispute panel for $12 billion for the seizure of its Cerro Negro facilities in the Orinoco Basin under then-President Hugo Chavez. The panel awarded $1.4 billion, a decision that was appealed by Venezuela.

WASHINGTON (AP) — A White House official says President Donald Trump is choosing a conservative doctor-turned-pundit with deep ties to Wall Street and the pharmaceutical industry to lead the powerful Food and Drug Administration. Dr. Scott Gottlieb would be tasked with Trump's goal of cutting red tape at the FDA. Gottlieb served as a deputy commissioner of the regulatory agency under George W. Bush.

DALLAS (AP) — Southwest Airlines is giving a surprisingly weak revenue forecast. It's the latest sign that airfares aren't rising as quickly as airlines expected. Average fares fell in 2015 and 2016 as competition increased from discount airlines including Spirit Airlines and Frontier Airlines. Trends in recent months have pointed to higher fares this year, but Southwest's pullback follows cautious outlooks from American and Delta.

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