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Wednesday Evening Business Brief

August 20, 2014, 6:46 PM

Wednesday Evening Business Brief

NEW YORK (AP) - A late round of buying is leaving stock indexes mostly higher. Bond prices fell, sending yields higher, on word that Federal Reserve policymakers are leaning toward raising interest rates. The Dow Jones industrial average rose 59 points, or 0.4 percent, to close at 16,979. The S&P 500 rose five points, or 0.3 percent, to 1,986. The Nasdaq was flat at 4,526.

  • The price of oil is up today. Oil rose after a report showed U.S. supplies dropped sharply last week as refineries kept busy. Benchmark U.S. crude for September delivery rose $1.59, or 1.7 percent, to $96.07 a barrel on the New York Mercantile Exchange.  Brent crude, a benchmark for international oils, rose 72 cents to $102.28 a barrel in London.
  • Hewlett-Packard says its fiscal third-quarter earnings fell 29 percent as the personal computer and printer maker absorbed the costs of employee layoffs and past acquisitions.  HP earned $985 million, or 52 cents per share, for the three months ended in July. That compared to $1.4 billion, or 71 cents per share, at the same time last year. HP revenue rose to $27.6 billion.
  • Some customers of The UPS Store may have had their credit and debit card information exposed by a computer virus found on systems at 51 stores. United Parcel Service says a security firm found the virus in systems at stores in 24 states, about 1 percent of the company's 4,470 franchised locations. The breach involves transactions between Jan. 20 and Aug. 11.
  • The U.S. Equal Employment Opportunity Commission is filing a discrimination lawsuit against Food Lion, saying the supermarket chain fired a Jehovah's Witness who requested certain days off for his religion. The complaint was filed today in U.S. District Court. The EEOC is seeking back pay, and compensatory and punitive damages.

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