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June 26, 2013 05:16 PM

Wednesday Evening Business Brief

  • It's the second day in a row the stock market has closed higher. The Dow rose 150 points, or 1 percent, to 14,910 points. It's the first two-day gain since the Fed said last week it could end its bond-buying program by the middle of next year as long as the economy improves. The S&P 500 rose 15 points or 1 percent, and the Nasdaq closed up 28 points, or 1 percent.
  • The U.S. economy may not be strong enough for the Federal Reserve to slow its bond purchases later this year. That's the takeaway from economists after the government cut its estimate today of growth in the January-March quarter to a 1.8 percent annual rate, below its previous estimate of a 2.4 percent. It appears consumers spent less than previously thought.
  • The price at the gas pump is down 6 cents over the past week, good news for drivers as the July Fourth holiday approaches. The average price for a gallon of regular fell 1 cent today to $3.54. That's the lowest price since May 8. Oil prices aren't as volatile. Benchmark oil for August delivery rose 18 cents today to close at $95.50 per barrel in New York.
  • The government is fining Delta Air Lines $750,000 for bumping some passengers involuntarily, without offering compensation or seeking volunteers first. Airlines sometimes sell too many tickets for a flight, and "bump" some passengers or move them to a later flight. If people don't volunteer, the airline has to compensate them. Delta was fined for similar violations in 2009.
  • Times Square's iconic TKTS booth is celebrating its 40th birthday by introducing a new way for theater lovers to avoid lines. The nonprofit that runs the booth selling discount Broadway and off-Broadway tickets, has announced a Fast Pass program. It allows anyone who's bought a ticket there to return within seven days and skip the wait when buying another ticket.
  • Business
  • Economy/Stocks
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