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Stocks flat…Consumer prices up 0.1%…Ford recalls Explorer and F-150 trucks

NEW YORK (AP) _ Major indexes are little changed in morning trading on Wall Street as gains for health care stocks are offset by weakness in energy companies. The energy sector was broadly lower. Benchmark U.S. crude sank 2% to just over $52 a barrel. It was trading at $59 a barrel two weeks ago. Traders think demand for oil may wane at the same time supplies are high. Technology stocks also fell.

WASHINGTON (AP) _ Consumer prices increased a slight 0.1% in May, as inflation was tempered by lower costs for gasoline, electricity and used cars. The Labor Department said its consumer price index rose 1.8% during the past year. Excluding the volatile food and energy categories, core prices rose 0.1% in May and was up 2% from a year ago.

DEARBORN, Mich. (AP) _ Ford is recalling over 1.3 million vehicles mainly in North America to fix rear suspension and transmission control software problems. The largest recall covers over 1.2 million Explorer SUVs from 2011 through 2017. Ford says a rear suspension toe link can break if the suspension moves a lot, which can limit steering control. Ford also is recalling 123,000 2013 F-150 pickups for a second time to stop transmissions from unintentionally downshifting into first gear.

OKLAHOMA CITY (AP) _ A federal report says an explosion and fire that killed five workers at a southeastern Oklahoma natural gas well last year was caused by the failure of blowout prevention devices and other factors. The report released today by the U.S. Chemical Safety and Hazard Investigation Board says controls designed to prevent the uncontrolled release of gas from the well were not effective, leading to the Jan. 22, 2018, explosion and fire near Quinton, Oklahoma.

WASHINGTON (AP) _ Uber is partnering with Volvo Cars to launch its newest self-driving vehicle. It’s the third car the companies have developed together and the first production car to be capable of fully driving itself. The ride-hailing company said today that it can easily install its self-driving system in the Volvo XC90 SUV. The vehicle’s steering and braking systems are designed for computer rather than human control, including several backup systems for both steering and braking functions and battery backup power.

Associated Press

Associated Press

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