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May 20, 2013 05:35 PM

Monday Evening Business Brief

Small-company stocks were a bright spot in a slow and choppy start to the week for Wall Street. The Russell 2000, an index of small-company stocks, climbed above 1,000 points for the first time and ended higher Monday, even as the Dow Jones industrial average, the Standard & Poor's 500 index and the Nasdaq composite index all edged lower. The Dow closed down 19 points, the S&P 500 index fell 1.18 points.

  • Taking its cue from the stock market and the dollar, the price of oil rose today. Benchmark oil for June delivery gained 69 cents to close at $96.71 a barrel on the New York Mercantile Exchange. Oil moved higher as U.S. stock markets reversed early losses around midday. Although stocks slipped in the afternoon, a weak dollar propped up oil prices.
  • A Senate investigation has found that Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes. The strategies Apple uses are legal, and many other multinational corporations use similar tax techniques. But the report finds that Apple uses a unique twist. Lawmakers say the company's tactics raise questions about loopholes in the U.S. tax code.
  • A Delaware bankruptcy judge has given final approval to the reorganization plan of failed battery maker A123 Systems Inc., which was the recipient of a $249 million Department of Energy grant. Today's court hearing resolved minor outstanding issues following the sale of most of the company's assets to the U.S. arm of Chinese auto parts conglomerate Wanxiang Group Corp. for nearly $257 million.
  • Special K is expanding its diet empire. The Kellogg's brand that first hit shelves in 1955 as a no-frills breakfast alternative is adding a hot cereal this summer called Special K Nourish. It's made with quinoa and other grains and packs 8 grams of protein and 5 grams of fiber.
  • Business
  • Economy/Stocks
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