Stocks end down...Oil price holds steady... Full court to review meat labeling rulesApril 5, 2014 @ 9:24 am
UNDATED (AP) -- Robert Pavlik, chief market strategist at Banyan Partners, says the monthly jobs report is "nothing to get too jazzed up about." The government says employers added 192,000 jobs in March. Investors weren't very impressed and drove stocks down yesterday. The tech-heavy Nasdaq suffered the most, plunging 110 points, or 2.6 percent. The S&P 500 fell 1.3 percent and the Dow lost 1 percent.
UNDATED (AP) -- Oil traders are still bullish on the U.S. economy. The price of oil rose slightly yesterday. Benchmark U.S. crude for May delivery rose 85 cents to close at $101.14 a barrel in New York. The price has vacillated around $100 a barrel for most of the past month. Gas prices are holding fairly steady. Triple-A says the average price of regular rose less than a penny to $3.57 a gallon on Friday.
WASHINGTON (AP) -- A full federal appeals court will review meat labeling rules that would require country-of-origin information on packaged steaks, ribs and other cuts of meat. The meat industry went to court in an effort to block the government regulation, which went into effect last year. The industry says the regulations are costly and provide no health benefits to consumers.
NEW YORK (AP) -- Private equity firm The Blackstone Group will buy industrial products maker Gates Corp. for $5.4 billion. The Canada Pension Plan Investment Board and private equity firm Onex Corp., who own Gates, say the sale should close later this year. Gates makes power transmission belts and fluid power products that are used in industrial and automotive applications.
UNDATED (AP) -- If you own an Evenflo child safety seat listen up. The company is recalling more than 1.3 million seat buckles due to the risk children could not be removed quickly in an emergency. The recall includes buckles used in a number of convertible and booster seat models manufactured between 2011 and 2014. Evenflo will alert registered owners this month and provide replacement buckles.
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