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March 08, 2013 05:14 PM

Friday Evening Business Brief

The stock market is logging its sixth straight gain after the government reported a surge in hiring in February. The Dow rose 67 ½ points to 14,397. The S&P 500 rose nearly 7 points to 1,551. The Nasdaq composite rose 12 points. On Tuesday the Dow broke through the all-time high it reached in October 2007.The S&P is now just 14 points below its own record.

  • The price of oil is up slightly, as a strong U.S. jobs report was tempered by gains in the dollar. Benchmark crude for April delivery was up 39 cents to finish at $91.95 a barrel on the New York Mercantile Exchange. The Labor Department says employers added more than 200,000 jobs last month and the jobless rate fell. That could signal increased demand for oil products.
  • Rental car agency Avis Budget Group Inc. says its $491.2 million acquisition of Zipcar has received antitrust clearance in the U.K. Avis Budget aid in January that it will buy the popular car-sharing service to expand its car rental options. It already has antitrust clearance in the U.S. The deal is expected to close next week.
  • The Justice Department says Corning, which makes glass used in tablets, TVs and other devices, will pay $5.65 million to settle claims that it knowingly made false statements to the government for laboratory research products. The charges stem from a 2005 contract with federal agencies for laboratory research products through Corning's Life Sciences division.
  • The Obama administration is making it easier for U.S. companies to export equipment and parts that could have military uses. The White House says it has notified Congress of plans to give the Commerce Department authority to regulate exports of thousands of aircraft parts like bolts, wings and fuel tanks. They'll be taken off the State Department's strict U.S. Munitions List. More sensitive items will stay under State Department control.
  • Business
  • Economy/Stocks
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