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November 27, 2013 05:58 PM

Wednesday Evening Business Brief

  • The stock market is closing higher, with technology companies leading the way. The Dow rose 24 points to close at 16,097. The S&P 500 index rose four points to 1,807. The tech-heavy Nasdaq gained the most - rising 27 points to 4,044. The Nasdaq continued its upward march after closing above the 4,000 mark for the first time in 13 years on Tuesday.
  • Oil has closed below $93 a barrel for the first time in nearly six months as the U.S. government reported the 10th straight weekly increase in crude oil supplies. Benchmark crude for January delivery fell $1.38 to close at $92.30 a barrel today on the New York Mercantile Exchange.
  • The average price of gasoline is the lowest heading into the Thanksgiving holiday weekend since 2010.  At the pump, AAA says the average price for a gallon of gasoline is $3.29. While that's up 8 cents from a week ago, it's still down 14 cents compared with the day before Thanksgiving last year. Two years ago as people traveled for the holiday the average was $3.33.
  • American Airlines says it plans to complete its merger with US Airways on Dec. 9 after a federal bankruptcy judge today cleared the way for the companies to close their merger and create the world's largest airline. The judge ruled this month's settlement of an antitrust lawsuit filed by the federal government didn't upset American's bankruptcy-reorganization plan. He also rejected a request by a group of consumers to block the deal temporarily.
  • Several California slaughterhouses and meat-packing facilities have agreed to a multimillion-dollar settlement after allegations of inhumane treatment at their facilities led to a massive beef recall that included meat sold to the National School Lunch Program. The settlement is valued at $155 million, but the federal government and the Humane Society expect to collect only about $3 million.
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  • Economy/Stocks

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