Friday Evening Business Brief
September 13, 2013, 6:14 PM
- Stocks are continuing their September rally. The Dow Jones industrial average closed out its best week since January with a gain of 3 percent. The Dow climbed 75 points to 15,376 today. The S&P 500 index rose 4 ½ points to 1,687. And the Nasdaq composite was up six points to 3,722. Volume was lighter than average at 2.7 billion shares.
- As the U.S. and Russia hold discussions aimed at getting Syria to give up its chemical weapons, traders see American military action as less likely -- at least for now -- and that's driven the price of oil down. Benchmark crude for October delivery fell 39 cents to close at $108.21 a barrel today in New York. For the week, oil dropped 1.7 percent. Meanwhile, the average price for gasoline in the U.S. dropped another penny to $3.54.
- United Airlines says it will honor the tickets it accidentally gave away for free. The decision is good news for people who snapped up the tickets yesterday after United accidentally listed airfares at $0. Many customers got their tickets for $5 or $10, paying only the cost of the security fee. United isn't saying how many tickets it gave away, or how much the mistake cost.
- Federal health regulators have approved the first permanent implant to treat men's urinary problems caused by an enlarged prostate. The Food and Drug Administration says it approved the Urolift system to relieve low or blocked urine flow in men age 50 or older. More than half of men in their sixties have some urinary problems due to enlarged prostate.
- The Environmental Protection Agency is sending two spill experts to Hawaii to help clean up some 1,400 tons of molasses that spilled into Honolulu Harbor this week. Sen. Brian Schatz says the situation is serious and requires a coordinated, aggressive response to help minimize damage to natural resources, marine life and businesses. A senior executive for the Matson Navigation Co. says the shipper hadn't planned ahead of time for the possibility of a spill.
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