Back to: Your Money Matters
April 30, 2013 05:34 PM

Tuesday Evening Business Brief

The stock market overcame a morning slide to finish modestly higher again today. IBM and other tech stocks led the S&P 500 to another record close. It edged up nearly four points to 1,597.57, an increase of 0.2 percent. The Dow rose 21 to close just below 14,840. The Nasdaq rose nearly 22 points to 3,329.

  • Two surveys out today find small business owners are getting more optimistic about their companies. In the Wells Fargo/Gallup Small Business Index, owners see their companies' finances are improving. A separate survey by the Kauffman Foundation and LegalZoom finds that 84 percent of entrepreneurs expressing confidence about their companies' profitability in the next year.
  • Government data show that 7.4 billion barrels of oil could be recovered from two massive shale formations spanning parts of the Dakotas and Montana. That's nearly double the amount previously estimated for the region. The new number from the U.S. Geological Survey includes more than 3 billion barrels of oil believed held in the Three Forks formation.
  • A White House official says President Barack Obama plans to name a former cable and wireless industry lobbyist to head the Federal Communications Commission. Tom Wheeler is former head of the Cellular Telecommunications & Internet Association and the National Cable Television Association. Since 2005, he has been a venture capitalist at Core Capital Partners. His nomination would need to be confirmed by the Senate.
  • Poker devotees can now skip the smoky casino and legally gamble their dollars away on the couch, at least in the state of Nevada. A Las Vegas-based social gambling company is launching the first legal, real-money poker website in the United States. The site, run by Ultimate Gaming, will accept wagers only from players in Nevada for now. It's one of three states that have legalized some form of online wagering within their borders, along with New Jersey and Delaware.
  • Business
  • Economy/Stocks