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Friday Evening Business Brief

December 20, 2013, 6:58 PM

Friday Evening Business Brief

NEW YORK (AP) - Stocks are closing higher on Wall Street after the U.S. raised its estimate for economic growth in the third quarter. The Dow rose 42 points to 16,221 today. It's up 3 percent for the week. The S&P 500 gained nine points to 1,818. The Nasdaq rose 47 to 4,104. The government says the economy grew 4.1 percent from July through September, the fastest pace since late 2011.

  • The price of oil is edging closer to $100 a barrel. Benchmark crude rose 28 cents to close at $99.32 in New York after the government said the economy grew at a faster rate in the third quarter than originally estimated. The last time oil closed above $100 a barrel was Oct. 18. At the gas pump, the average price for a gallon of regular rose 1 cent to $3.22.
  • Sen. Ron Wyden is in line to become the chairman of the Senate's most powerful panel, the Finance Committee. President Barack Obama says he intends to nominate the current chairman, Montana's Max Baucus, as U.S. ambassador to China. Wyden is the committee's third most-senior Democrat, but he's likely to move to the top spot because Jay Rockefeller has indicated he won't seek the chairmanship. The committee has jurisdiction over taxes, trade and health care.
  • AT&T says it'll publish reports on the number of requests for customer information it receives from law enforcement agencies. It's the latest move in the telecommunications industry toward fuller disclosure amid debate over government surveillance programs. Today's announcement comes a day after rival Verizon said it'll make public the legal demands it's received.
  • Boeing says it has begun telling states whether they're still in the running to build its new 777X. The aircraft company received proposals from 22 states covering 54 locations. Boeing says it's narrowing the list down and is telling each location its status in the process. Boeing isn't releasing the list publicly. The company says it expects to pick a location early next year.

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