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Wednesday Evening Business Brief

September 5, 2012, 5:18 PM

Wednesday Evening Business Brief
  • Stock prices closed mixed. The Dow gained nearly 12 points to 13,047. The S&P fell nearly 2 points, while the Nasdaq dropped nearly 6 points.
  • The government today issued an upward revision to second-quarter productivity. It was put at a modest 2.2 percent annual rate, mostly because employers cut back on hiring.
  • Ford is recalling 7,600 new Escapes to fix coolant leaks that can cause engines to overheat or catch fire. The recall affects 2013 models with 1.6-liter four-cylinder engines.
  • Facebook's stock increased nearly 5 percent today following the disclosure that CEO Mark Zuckerberg won't sell stock in the company for at least a year. The stock is still trading at less than half of the $38 that it went for in May initial public offering.
  • There was little change in oil prices today. Benchmark oil rose 6 cents to settle at $95.36 per barrel in New York.

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