Bad week for stocks ...Good week for oil futures... G-20 finance ministers exude confidenceApril 12, 2014 @ 9:04 am
NEW YORK (AP) -- Investors are licking their wounds. The stock market closed lower for a second straight day on Friday as traders grew anxious that earnings growth is faltering. Weaker earnings at JPMorgan Chase dragged bank stocks lower. And big drops in tech stocks pushed the Nasdaq down for a third week. The Nasdaq lost 54 points, the S&P 500 fell 17 and the Dow dropped 143.
UNDATED (AP) -- Oil traders are expecting drivers to hit the road more often now that winter has ended, driving up demand for gas. The price of oil rose nearly 3 percent this week. Benchmark crude for May delivery rose 34 cents yesterday to close at $103.74 in New York. Meanwhile, the average retail price of regular gas went up a penny to $3.62 a gallon on Friday, the highest level since August.
WASHINGTON (AP) -- Finance officials of the world's major economies are expressing confidence that they can meet an ambitious goal of boosting global growth by $2 trillion over the next five years. That's despite a variety of threats including rising political tensions over Russia's actions in Ukraine. The G-20 has been meeting in Washington.
DETROIT (AP) -- Documents from a House panel show that General Motors CEO Mary Barra received an email about a steering problem in the Saturn Ion in October 2011 -- more than two years before the car was recalled. That email message was not related to a problem with an ignition switch that's at the heart of a separate recall of 2.6 million small cars.
BALTIMORE (AP) -- The Centers for Disease Control and Prevention says passengers on a cruise ship that sailed out of Baltimore became sick on board during two consecutive voyages. The CDC says in the latest episode, about 100 passengers and crew members on the Grandeur of the Seas became ill with vomiting and diarrhea. It left April 5 for a seven-day cruise.
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