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Thursday Evening Business Brief

September 6, 2012, 5:19 PM

Thursday Evening Business Brief
  • Wall Street's key averages notched the highest levels in years after the European Central Bank laid out a concrete plan to support the region's struggling countries through buying bonds. The Dow rose nearly 245 points, or 1.9 percent, to 13,292, its highest close since December 2007. The S&P rose 29 points, while the Nasdaq surged 67 points.
  • Commodities prices rose today after the European Central Bank unveiled its bond buying plan. Gold topped $1,700 per ounce for the first time in six months, while benchmark oil added 17 cents to settle at $95.53.
  • Amazon.com has unveiled four new Kindle Fire models, including the models with larger screens. The online retailer is looking to step up competition with Apple ahead of the holiday shopping season.
  • A federal judge in Arizona has rejected the government's challenge of a state constitutional amendment that guarantees workers the right to secret ballots in union elections. The judge said it is premature to rule whether the amendment conflicts with federal law because it depends on how the provision is enforced.
  • Texas will soon open a stretch of highway with the highest speed limit in the country. State regulators approved the 85 mph speed limit for a 41-mile-long toll road near the Interstate 35 corridor between Austin and San Antonio.

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