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Friday Evening Business Brief

February 28, 2014, 7:07 PM

Friday Evening Business Brief

NEW YORK (AP) - Stocks are ending mostly higher after the market had a brief stumble in the afternoon. The S&P 500 index edged further into record territory, but weakness in technology stocks held back the Nasdaq composite. The S&P 500 rose five points to 1,859 today. The Dow Jones industrial average climbed 49 points at 16,321. The Nasdaq ended down 10 points at 4,308.

  • The price of oil is up slightly. It finished the month with a gain of 5 percent. And the price of gasoline saw the biggest monthly increase since July as refineries prepare for the driving season. Benchmark crude for April delivery rose 19 cents to $102.59 a barrel today in New York. The average price for gasoline rose a penny today to $3.45. It's up 17 cents for the month.
     
  • Apple CEO Tim Cook is still trying to convince shareholders that the iPhone maker remains a step ahead in the race to innovate. Cook touched upon familiar themes during Apple's annual shareholder meeting today. Cook promised that Apple is working on new gadgets that'll expand the product line-up beyond smartphones, tablets, music players and PCs.
     
  • A federal judge is approving the settlement of a class-action lawsuit against JPMorgan Chase for its force-placed insurance practices. The agreement could pay more than $300 million to about 750,000 mortgage borrowers. The deal also prohibits the bank for six years from getting commissions, kickbacks or reinsurance from the insurance, which it obtains when a homeowner's policy lapses.
     
  • Las Vegas Sands says hackers stole some customers' Social Security and driver's license numbers during a data breach earlier this month. The casino company confirms that information about some patrons at its Bethlehem, Pa., hotel-casino was compromised during the Feb. 10 attack. Sands is still working to determine whether information about customers at other properties was breached.

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