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Evening Business Brief

May 18, 2011, 7:20 PM

Evening Business Brief
Stocks reversed some of their recent losses in today's trading. The Dow added nearly 81 points to 12,560. The S&P added 12 points, while the Nasdaq was up 32 points.
  • The Federal Reserve last month discussed how to begin reversing policies that supported the economy during the recession. Newly released minutes indicate some members said the Fed might need to start boosting interest rates this year to guard against inflation.
  • Along with other rising commodities prices, crude gained ground. Benchmark West Texas Intermediate crude for June delivery rose $3.19 to settle at $100.10 a barrel on the New York Mercantile Exchange.
  • Federal officials are warning pilots flying at night near Las Vegas over the next week they may have to navigate the old-fashioned way -- without GPS. The Federal Aviation Administration sent a notice to pilots that navigation systems based on GPS technology may be "unreliable or unavailable" in about a 350 mile-radius that includes Las Vegas. 
  • Hershey CEO David West is leaving after three years of strong performances at the candymaker. He'll take a job at the smaller Del Monte Foods Co., a surprise move that sent Hershey shares lower.


     

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