Friday Evening Business Brief
November 2, 2012, 5:16 PM
- Stock prices dropped today, as investors took a more sobering view of the potential impact of Superstorm Sandy on corporate earnings. The Dow fell 139 points to 13,093. The S&P was down 13 points, while the Nasdaq shed about 38 points.
- Issuing a mixed jobs report, the Labor Department says employers added 171,000 positions in October. The unemployment rate rose to 7.9 percent, in part because more people were looking for work and not all of them found jobs.
- Oil settled at its lowest point in almost four months as two Northeast refineries remained shut after Superstorm Sandy. Benchmark crude fell $2.23, or 2.2 percent, to close at $84.86 - its lowest level since July 10.
- Shares of Restoration Hardware jumped in its first day of trading, as investors decided to take a bet on a familiar retail name and the housing recovery. Trading under the ticker symbol "RH", Restoration Hardware shares rose 29 percent.
- A new report finds that Google's Android software for mobile devices was running on 75 percent of smartphones shipped in the third quarter. Research firm IDC says Google extended its lead over Apple, which was second with a market share of 15 percent.
© 2012 Associated Press. All rights reserved. Material may not be redistributed.
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