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Friday Evening Business Brief

December 7, 2012, 5:45 PM

Friday Evening Business Brief

Stocks closed mostly higher after a better than expected jobs report. The Dow gained 81 points to 13,155, ending the week with a gain of 1 percent. The S&P 500 added 4 points to 1,418, while the Nasdaq composite fell 11 points as shares of Apple continued to decline.

  • With election day behind, there was hardly any reaction in Washington among political leaders to the monthly jobs report. The Labor Department said that the unemployment rate fell to a nearly four-year low of 7.7 percent.
  • Pilots at American Airlines have approved a new labor contract, and that could clear the way for consideration of a merger with US Airways. The pilots' union announced that 74 percent of its members voted to ratify the contract. Pilots rejected a similar offer in August, but union leaders lobbied hard for passage the second time around.
  • The Federal Communications Commission says the nation's four largest wireless carriers have agreed to relay text messages to text-enabled 911 call centers by May 2014. Four carriers - AT&T, Verizon, Sprint and T-Mobile - cover 90 percent of the population.
  • "The Young and the Restless" has just marked week No. 1,248 at the top of the soap opera ratings, according to Nielsen. The CBS drama has been on the air since 1973.

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