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Thursday Evening Business Brief

December 20, 2012, 5:47 PM

Thursday Evening Business Brief

Stocks closed higher after indecisive trading marked the earlier part of the session. The Dow rose 60 points to 13,312. The S&P gained 8 points, while the Nasdaq surged 6.

  • Hundreds of flights in Chicago have been canceled as a winter storm bears down on the Midwest. Chicago aviation officials report delays and more than 350 flight cancellations at O'Hare and Midway international airports.
  • Discover Financial Services reports higher earnings for its fiscal fourth quarter. Users of its namesake credit card stepped up purchases and the company wrote off fewer unpaid balances.
  • Oil closed above $90 a barrel for the first time in two months as it tracked an upward move in U.S. stock markets. Benchmark crude for February delivery ended the day at $90.13 per barrel, up 15 cents, on the New York Mercantile Exchange.
  • Big Board just isn't so big anymore. In a deal that highlights the dwindling stature of what was once a centerpiece of capitalism, the New York Stock Exchange is being sold to a little-known rival for $8 billion - $3 billion less than it would have fetched in a proposed takeover just last year. The proposed buyer is IntercontinentalExchange

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