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March 02, 2015 05:10 PM

Monday Evening Business Brief

  • The Nasdaq composite today closed above 5,000 for the first time since its dot-com era peak nearly 15 years ago. This happened after merger news and an encouraging economic report helped push U.S. stocks higher on a broad scale. The major indexes rose from the start, with the Nasdaq passing the 5,000- milestone shortly before noon. The tech heavy index then dropped, before rising toward the close to end at 5,008.10, just 40 points from its record of March 2000.
  • Congressional Republicans are sending a message they hope the Supreme Court and voters will hear: The country's health care system won't crumble if the justices obliterate a bedrock feature of President Barack Obama's heath care law. Three top senators said today that if the court invalidates federal subsidies that help millions of Americans buy coverage under Obama's law, they have a plan to protect them and create "better" insurance markets by giving states more leeway to decide what insurers must cover.
  • Spain created hours of confusion over the future of Greece's troubled finances today. First, it announced that eurozone nations were negotiating a third Greek bailout of up to 50 billion euros ($56 billion), and then Madrid backtracked by saying the prospect of such a bailout was merely hypothetical. The high profile sequence of events began when Spain's Economy Ministry said Minister Luis de Guindos declared at a conference that a new bailout for Greece could provide between 30 billion euros and 50 billion euros.
  • A lawyer for media organizations argued today that a gag order in the criminal case of the West Virginia coal mine explosion that killed 29 men violates the First Amendment by barring virtually anyone from discussing it publicly. David Schulz told a three-judge panel of the U.S. 4th Circuit Court of Appeals in Richmond, Virginia, that some victims' relatives believe the sweeping gag order also prohibits them from testifying before lawmakers and regulators.
  • The CEO of Volkswagen AG is staying with his cautious outlook for this year, saying it's a "balanced assessment" of growth in the U.S. and China versus trouble spots such as Russia and Brazil. Martin Winterkorn tells The Associated Press in Geneva, Switzerland, that he thinks it's a good assessment, saying that "as usual, we at Volkswagen do not want to lose touch with reality despite all the successes."
  • Business
  • Economy/Stocks

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