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January 15, 2015 07:01 PM

Thursday Evening Business Brief

NEW YORK (AP) - The stock market is ending lower following weaker earnings from banks. The Dow Jones industrial average fell 106 points, or 0.6 percent, to close at 17,320 today. The Standard & Poor's 500 index slid 18 ½ points, or nearly 1 percent, to 1,992. The Nasdaq composite dropped 68 ½ points, or 1.5 percent, to 4,570.

  • Oil prices are continuing their slide, A volatile day of trading ended with U.S. crude falling $2.23 to close at $46.25 a barrel in New York. Earlier in the day it jumped over $51. Brent crude, a benchmark for international oils, fell $1.02 to close at $47.67 in London.
  • Intel is reporting that fourth-quarter profit climbed by 39 percent to $3.66 billion. The chipmaker says it had profit of 74 cents per share, beating Wall Street expectations. Intel posted revenue of $14.72 billion in the period, also topping forecasts. For the year, profit increased 22 percent to $11.7 billion, or $2.31 per share. Revenue rose 6 percent to $55.87 billion.
  • A federal judge says 3.19 million barrels of oil was discharged into the Gulf of Mexico in 2010 as a result of a rig explosion at BP's Macondo well. This is less than government estimates of about 4.2 million, but more than the 2.4 million barrel figure BP argued for. Today's finding sets the stage for next week's trial to determine BP's Clean Water Act penalties.
  • Google says it will stop selling its Internet-connected eyewear to consumers until the company can develop a more polished and affordable version that's less likely to be viewed as a freakish device. The sales moratorium on the nearly 2-year-old "Explorer" edition of Google Glass goes into effect Jan. 19.
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