Stock market moves higher ...Oil prices fluctuate... Apple reduces worker force in driverless car tech
NEW YORK (AP) — Stocks have finished mostly higher as another day of mixed trading showed the market’s recent rally losing some strength. The S&P 500 index rose 3 points, or 0.1 percent, to 2,642. The Dow Jones Industrial Average dipped 22 points, or 0.1 percent, to close at 24,553. The tech-heavy Nasdaq composite added 47 points, or 0.7 percent, to end the day 7,073. And The Russell 2000 gained 10 points, or 0.7 percent, to close at 1,464.
NEW YORK (AP) — Benchmark U.S. crude oil rose 1 percent to $53.13 per barrel in New York today. But Brent crude, used to price international oils, slipped 0.1 percent to $61.09 per barrel in London. In other energy commodity trading, wholesale gasoline and heating oil both finished little changed, at $1.39 a gallon and $1.89 a gallon, respectively while natural gas jumped 4 percent to $3.10 per 1,000 cubic feet.
SAN FRANCISCO (AP) — Apple is reducing the size of its workforce assigned to driverless car technology as the company reorganizes amid weakening sales of iPhones, its biggest moneymaker. The company isn’t specifying the number of jobs affected. But CNBC reported that more than 200 employees were dismissed from Apple’s self-driving car division, known internally as “Project Titan.” Apple says some of the employees have been reassigned.
NEW YORK (AP) — Digital media company BuzzFeed is cutting 15 percent of its jobs, or about 200 people, to trim expenses and become profitable. BuzzFeed CEO Jonah Peretti wrote employees Wednesday that the layoffs will help BuzzFeed avoid having to raise money from investors again. The privately held company has not been profitable for several years. It has raised hundreds of millions from such investors as Comcast’s NBCUniversal.
SAN FRANCISCO (AP) — San Francisco 49er legend Joe Montana is looking to hit pay dirt in the legal marijuana industry. San Jose, California-based Caliva announced today that the Hall of Fame quarterback’s venture capital firm was taking part in a $75 million investment in the company. Caliva operates a farm and two retail stores in Northern California and distributes its branded products in roughly two dozen other retail outlets in the state.