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Thursday Morning Business Brief

May 29, 2014, 5:35 AM

Thursday Morning Business Brief

Bond prices are surging and the yield on the 10-year Treasury note fell to its lowest in 11 months yesterday. At the same time, stocks are making modest gains. That's pushing major indexes to record levels. But yesterday, stocks edged lower. The S&P 500 lost two points, closing at 1,909. The Dow dropped 42 points, to 16,633. The Nasdaq fell 12 points to 4,225.

  • The government today will release the number of people who filed for unemployment insurance last week. And the Commerce Department will report the first-quarter gross domestic product. Also, Freddie Mac will release the weekly mortgage rates and the National Association of Realtors will issue its pending home sales index for April.
  • The price of oil was hardly changed today - near $103 barrel after falling sharply on expectations of a big drop in U.S. crude stockpiles. Benchmark crude for July delivery was up 6 cents to $102.78 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $1.39 to close Wednesday at $102.72.
  • The 2014 Chevrolet Impala was the only non-luxury car to earn the highest safety rating in new tests of high-tech crash prevention systems. The Insurance Institute for Highway Safety tested cars equipped with collision warning and automatic braking systems. It gave a "superior" rating to cars that both warned the driver of a potential collision and applied the automatic brakes to significantly slow the cars.
  • Search giant Google is apparently having a hard time finding women and minorities to hire. Google says just 2 percent of its 50,000 employees are black, 3 percent are Hispanic, and 30 percent are women. The numbers were compiled as part of a report that major U.S. employers must file with the Equal Employment Opportunity Commission. A company official says Google's diversity is not where the firm wants it to be.

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