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March 12, 2015 05:07 PM

Thursday Evening Business Brief

  • A sharp rally in the dollar is relenting, helping push the stock market to its best day in five weeks. The U.S. currency dropped for the first day in nine against the euro. The Dow industrials jumped nearly 260 points, or 1.5 percent today, to 17,895. The S&P 500 rose nearly 26 points, or 1.3 percent, to 2,065. The Nasdaq climbed 43 1/2 points, or 0.9 percent, to 4,893.
  • The price of oil is down for the fifth time in 6 days on continuing concerns about rising supplies in the U.S. and around the world. Benchmark U.S. crude fell $1.12 to close at $47.05 a barrel today in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 46 cents to close at $57.08 in London.
  • Germany's finance minister sees chances of economic recovery for Greece and is expressing some understanding of voter frustrations that led to the election victory of the populist party now trying to secure more lenient bailout terms from the EU. He (Wolfgang Schaeuble) says Greece is "not a hopeless case."
  • A research firm is forecasting a bigger decline in personal computer sales in 2015. International Data Corp. is now projecting 293.1 million PCs will be sold worldwide this year, a drop of 4.9 percent from 2014. IDC says consumers are waiting for new products and a stronger U.S. dollar makes computers more expensive in other countries, hurting sales.
  • A bankruptcy judge will rule soon on the proposed sale of Atlantic City's former Revel casino to a Florida developer for $82 million. The judge says she'll rule tomorrow on the purchase of the $2.4 billion casino by Glenn Straub's Polo North Country Club. Revel closed in September after just over two years of operation. It never turned a profit.
  • Business
  • Economy/Stocks

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