Thursday Evening Business Brief
August 30, 2012, 5:44 PM
- Stocks saw a decline today, leaving the Dow sitting just atop the 13,000 level. The index dropped about 107 points to 13,001. The S&P fell 11, while the Nasdaq was down 32 points.
- The latest figures provide some hope about the ability of the consumer to continue spending at a modest pace. Retailers ranging from Target to Macy's, taken together, report the best sales since March.
- The price of oil fell as traders assessed damage from Isaac with most of the production in the Gulf of Mexico shut down. Benchmark oil fell 87 cents to finish trading at $94.62 in New York.
- An agreement has been reached between director Julie Taymor and the producers of the Broadway production of "Spider-Man". Taymor filed the lawsuit in November, saying her copyrighted written works were violated when she was fired and the musical's script was rewritten. She was seeking damages of more than $1 million.
- Janssen Pharmaceuticals and parent Johnson & Johnson have announced a $181 million settlement with 36 states and the District of Columbia. At issue were charges of marketing anti-psychotic drugs for non-approved uses.
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