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January 26, 2015 05:27 PM

Monday Evening Business Brief

  • Stocks have started the week with a winning session, though the gains are tiny. The Dow rose six points to 17,678.70. The S&P 500 edged up five points to 2,057.09. And the Nasdaq composite added nearly 14 points to 4,771.76. Oil prices dropped again, with benchmark U.S. crude down 44 cents to settle at $45.15 in New York.
  • The Congressional Budget Office says the federal budget deficit will shrink this year to its lowest level since President Barack Obama took office. The CBO projects solid economic growth for the next few years and estimates the deficit will be $468 billion for the budget year that ends in September. The official scorekeeper of Congress also expects unemployment to gradually decrease to 5.3 percent in 2017. It is now 5.6 percent.
  • Travelers in the Northeast booking a ride through Uber should expect to pay more than the usual fare this evening. But the car service has capped how much prices can rise during disasters or emergencies. The company has taken a lot of heat for big price increases during past storms. In New York City, surge pricing will be capped just below triple the normal fare.
  • The debate over the use of commercial drones in U.S. skies has taken on a new dimension today after a two-foot-long quadcopter crashed on the White House grounds early this morning. The Secret Service says a man later came forward to say he was responsible and hadn't meant to fly the drone over the complex. At the urging of the drone industry, the Obama administration is working on rules for drone operations that would replace an existing ban on most commercial flights.
  • For the first time, all varieties of apples from the United States will go on sale in China. China stopped buying Red Delicious and Golden Delicious apples from the U.S. in 2012 because of concerns over a fungus. But the Washington Apple Commission, which represents growers in Washington state, says a deal was reached last week to restore access to China's market for those and all other U.S. apple varieties. China bought $55 million worth of Washington apples during the 2010-11 marketing year.
  • Business
  • Economy/Stocks
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