Stocks edge higher...Oil prices are down... Stitch fix files to go public
UNDATED (AP) — A last-minute surge nudged stock indexes mostly higher, barely extending the market’s winning streak and milestone-setting run. The Standard & Poor’s 500 index and the Dow Jones industrial average closed higher for the fifth straight day, each posting new highs today. The S&P 500 rose less than 1 point to 2,562. The Dow edged up 5 points to 23,163. The Nasdaq composite lost 19 points to close at 6,605.
UNDATED (AP) — Oil futures are down today. Benchmark U.S. crude lost 75 cents, or 1.4 percent, to settle at $51.29 per barrel on the New York Mercantile Exchange. Also, Brent crude, used to price international oils, fell 92 cents, or 1.6 percent, to $57.23 per barrel in London. In other energy trading, wholesale gasoline was little changed at $1.64 a gallon
NEW YORK (AP) — Stitch Fix, an online clothing styling service, has filed to go public. It’s one of several companies that ships shoppers clothing to try on at home before they buy. Stitch Fix says it plans to raise as much as $100 million in its initial public offering, but that number is likely to change. Its stock would trade on the Nasdaq stock market under the stock symbol “SFIX.”
WASHINGTON (AP) — The U.S. government is urging that large, personal electronic devices like laptops be banned from airline checked luggage because of the potential for a catastrophic fire. The Federal Aviation Administration tells the U.N. its tests show that when lithium-ion batteries used in the devices overheat in close proximity to an aerosol spray, they can cause explosions capable of disabling an airliner’s fire suppression system.
NEW YORK (AP) — A former Dallas-based food company executive who admitted feeding inside information to an influential Las Vegas gambler linked to golfer Phil Mickelson has been sentenced in New York to two years in prison. A federal judge imposed the sentence today on former Dean Foods Co. chairman Thomas Davis.