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Saturday Business Brief

January 11, 2014, 4:19 PM

Saturday Business Brief

NEW YORK (AP) - The government's latest jobs report which showed a sharp decline in hiring last month is apparently being seen as a fluke by many investors. Stock indexes ended mostly higher after wavering for much of the day. Although the Dow fell eight points to 16,437, it would have risen slightly if not for a slump in Chevron. The S&P 500 climbed four points to 1,842 and the Nasdaq rose 18.

  • The price of oil is climbing. It jumped more than $1 a barrel yesterday after a poor December jobs report fueled speculation that the Federal Reserve might reconsider plans to pull back its economic stimulus. Benchmark crude for February delivery gained $1.06 to $92.72 in New York. At the gas pump, the average price for a gallon of regular remains at $3.31.
     
  • Luxury merchant Neiman Marcus says thieves may have stolen customers' credit and debit card information and made unauthorized charges over the holiday season. A spokeswoman for the Dallas-based retailer wouldn't estimate how many customers might be affected but said the company is notifying those whose cards are known to have been used fraudulently. The news follows word of a massive data theft at Target stores.
     
  • General Motors is recalling 370,000 Chevrolet Silverado and GMC Sierra pickups from the 2014 model year to fix software that could cause the exhaust components to overheat and start a fire. All of the trucks involved have 4.3-liter or 5.3-liter engines. GM said eight fires have been reported, but no injuries. GM is asking customers not to leave their trucks idling unattended.
     
  • A federal appeals court is upholding a judge's approval of a multibillion-dollar settlement between BP and lawyers for Gulf Coast businesses and residents who claim the company's 2010 Gulf of Mexico oil spill cost them money. The court ruled Friday the judge did not err by failing to determine whether the class of eligible claimants included individuals who haven't actually suffered any injury.

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