Monday Evening Business Brief
September 9, 2013, 6:35 PM
- Stocks have finished the day with some solid gains. The Dow industrials rose 140 points, finishing above 15,000 for the first time in more than two weeks. The S&P 500 gained 16 points. The Nasdaq composite rose 46 points. The sale of luxury retailer Neiman Marcus for $6 billion helped give the market a boost, since it suggested growing confidence in the economy.
- The price of oil retreated from a two-year high today as the prospects of a U.S. attack against Syria remained unclear. Benchmark oil for October delivery fell $1.01 to close at $109.52 a barrel on the New York Mercantile Exchange. On Friday, oil gained $2.16 to close at $110.53, the highest closing price since May 3, 2011.
- Apple is expected to unveil its latest take on the iPhone tomorrow during an annual ritual that will probably cast a spotlight on the gadget maker's drive to regain market share and its pick up the pace of innovation. In keeping with its tight-lipped ways, Apple Inc. hasn't disclosed what's on the agenda for the coming-out party scheduled to begin at 10 a.m. PDT at its Cupertino, Calif. headquarters.
- Facebook and Yahoo asked a secret court today to allow them to disclose data on national security orders the companies have received under the Foreign Intelligence Surveillance Act. The two tech companies filed separate, similar motions with the secret court that oversees that law. Two other companies, Google and Microsoft, have similar motions pending with the court.
- Massachusetts Attorney General Martha Coakley says Barclays Bank PLC has agreed to pay $36.1 million to settle allegations it backed subprime home loans it knew were risky. Coakley says the settlement filed in court today includes more than $25 million for reduction of principal and other relief for more than 450 subprime borrowers.
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