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Wednesday Evening Business Brief

March 7, 2012, 5:43 PM

Wednesday Evening Business Brief

U.S. stocks enjoyed solid gains a day after the market's biggest decline this year. The Dow added 78 points, or 0.6 percent, to 12,837. The S&P was up 9 points, while the Nasdaq added 25 points.

• The new iPad gets a number of new features, although not a new name. When it goes on sale next week in the U.S. and several other countries, it will be "the iPad" or perhaps "the new iPad" - not "iPad 3" or "iPad HD," as some had speculated.

• Americans stepped up borrowing in January to buy more cars and attend school. The Federal Reserve says consumer
borrowing rose by nearly $18 billion in January, following similar gains in December and November.

• FBI Director Robert Mueller says that a recent Supreme Court ruling is forcing the bureau to deactivate its GPS tracking devices in some investigations. Mueller told a congressional panel that the bureau has turned off a substantial number of GPS units and is using surveillance by agents instead.

• The price of natural gas has dropped to the lowest level in a decade as a mild winter comes to a close with a huge surplus of the fuel on hand. Natural gas supplies typically shrink in the winter as homes and business crank up the heat. But relatively warm weather, combined with a boom in production, has left storage facilities bloated with more gas than normal.

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