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Friday Evening Business Brief

May 30, 2014, 6:53 PM

Friday Evening Business Brief

NEW YORK (AP) - It's a record day for the Dow Jones industrial average. It last closed at a record high two weeks ago. The Dow gained 18 points, or 0.1 percent today, to close at 16,717, less than two points above its previous high. The S&P 500 rose 3 ½ points, or 0.2 percent, to 1,923. The S&P 500 is also at a record high. But the Nasdaq fell five points, or 0.1 percent, to 4,242.

  • The price of oil is down. It fell below $103 per barrel today on ample supplies of crude and fuels. Benchmark crude for July delivery fell 87 cents to close at $102.71 a barrel in New York. The contract closed down 1.6 percent for the week but finished the month up nearly 3 percent. The average retail price of gasoline in the U.S. rose a penny today to $3.66 a gallon.
  • The Food and Drug Administration is putting together new advice for pregnant women on the appropriate levels of mercury in seafood. But the FDA says it doesn't plan to require mercury labels on seafood, as some consumer groups want. Instead, the agency will soon update its guidance on mercury levels in different seafood and what that means.
  • Federal regulators are approving the first generic versions of Pfizer's anti-inflammatory painkiller Celebrex. The Food and Drug Administration has approved low-cost versions of the drug known generically as celecoxib from Teva Pharmaceutical Industries and Mylan. Celebrex was Pfizer's fourth best-selling drug last year with sales of $2.92 billion.
  • Tyra Banks will lead a new television show with a panel of experts talking about fashion, entertainment and other lifestyle topics starting next year. Disney-ABC Domestic Television says it'll distribute the daytime show. It'll be similar to "The View" or "The Talk" with a group of hosts, and Banks will be executive producer of the show along with being on the air.

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