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Evening Business Brief

August 5, 2011, 5:56 PM

Evening Business Brief
If you looked away, you might have missed a market rally. Or a plunge. After a soothing government report on employment, the Dow rose, then fell more than 400 points, then rose nearly 400, then bounced up and down until ending the day up 61 points.
  • The S&P 500, the benchmark for most mutual funds, fell 0.1 percent. The Nasdaq composite index fell 24 points, or 0.9 percent.
  • Oil ended the week at $86.88 per barrel on the New York Mercantile Exchange, a drop of $8.82 from the week before. Prices tumbled as a series of weak economic data rolled in, threatening to undermine demand for energy.
  • Government bond prices are falling after U.S. hiring picked up in June and as stock trading was less turbulent than the day before. The price of the 10-year Treasury note fell $1.50 for every $100 invested. 
  • Warren Buffett's company says its second-quarter profit jumped 74 percent. Berkshire Hathaway Inc. says the value of its derivative contracts increased and a number of its non-insurance businesses improved.

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