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Saturday Business Brief

August 23, 2014, 3:05 PM

Saturday Business Brief

NEW YORK (AP) - Investors still don't know how Federal Reserve Chair Janet Yellen feels about raising interest rates in the coming months. After she revealed little yesterday at a Fed conference in Wyoming, the stock market paused, following four days of gains. The Dow fell 38 points to 17,001. The S&P 500 lost four points to 1,988 and the Nasdaq added six points to 4,538.

  • Oil prices are down. Benchmark U.S. crude oil fell 31 cents to $93.65 a barrel yesterday on the New York Mercantile Exchange. And Brent crude, a benchmark for international oils imported by U.S. refineries, dropped 34 cents to $102.29 a barrel in London.

 

  • Goldman Sachs will pay $3.15 billion to resolve claims that it misled mortgage giants Fannie Mae and Freddie Mac about risky mortgage securities it sold them before the housing market collapsed in 2007. The Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the settlement with the Wall Street powerhouse yesterday.

 

  • SpaceX says one of its unmanned rockets exploded yesterday shortly after launch on a test flight. The private company says nobody was injured at its Texas test site. A spokesman for SpaceX says the doomed flight involved a three-engine version of its reusable Falcon 9 rocket. He says an "anomaly" was detected in the rocket and it automatically self-destructed.
  • The governors of Massachusetts and New Hampshire are optimistic a long-running dispute at a New England supermarket chain will be resolved with an agreement to sell it to the ousted CEO. They say they expect Market Basket will restore Arthur Demoulas on an interim basis until the sale closes. They're also hopeful the company's stores will reopen early next week.

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