Ticker: Feds eye air traffic control overhaul; Stocks climb on trade deal 

The White House on Thursday proposed a multibillion-dollar overhaul of a U S air traffic control system that it revealed still relies on floppy disks and replacement parts identified on eBay and has come under renewed scrutiny in the wake of modern deadly plane crashes and technical failures The plan calls for six new air traffic control centers along with an array of equipment and communications upgrades at all of the nation s air traffic facilities over the next three or four years mentioned Transportation Secretary Sean Duffy We use radar from the s explained Duffy The cost of the proposal wasn t right now revealed Duffy announced he ll work with Congress on the details It s going to be billions lots of billions he noted Demands to fix the aging system have increased since the midair collision in January between a military helicopter and a commercial airliner that killed people over Washington D C Stocks climb on transaction deal U S stocks rose Thursday after the United States and United Kingdom broadcasted a deal on exchange that would lower certain tariffs between the two countries the first of what Wall Street hopes will be enough agreements to keep a recession from hitting the economic system The S P climbed for its th gain in the last days The Dow Jones Industrial Average added points or and the Nasdaq composite rose It wasn t just stocks Bitcoin jumped back above and crude oil prices climbed while the price of gold eased back as investors felt less need for safety Treasury yields rose on bets that more bargain deals with other countries may mean the Federal Reserve won t need to cut interest rates as sharply as feared in order to prop up the economic activity