Subdued trading on Wall Street ... Industrial Production Surge ... Starbucks ... Power Outage
May. 16, 2017
NEW YORK (AP) — A subdued day of trading on Wall Street has ended with stocks closing mostly lower — even as the Nasdaq composite notched another record high. Utilities, phone companies and other high-dividend paying stocks were among the biggest decliners. The Standard & Poor's 500 index dipped 1.65 points, while the Dow Jones industrial average slid 2.19 points and the Nasdaq gained 20.20 points. The tech-heavy index and the S&P 500 each hit new highs on Monday.
WASHINGTON (AP) — American industry expanded production last month at the fastest pace in more than three years as manufacturers and mines recovered from a March downturn. The Federal Reserve says industrial production at U.S. factories, mines and utilities shot up 1 percent in April from March. It was the biggest gain since February 2014 and the third straight monthly gain. The increase was more than twice what economists had expected.
NEW YORK (AP) — Some Starbucks customers are posting on social media that they were getting their drinks for free because of a payment system outage. Starbucks Corp. spokesman Reggie Borges says a "limited number" of stores in the U.S. and Canada were temporarily offline as a result of an overnight technology update. As of this afternoon, he said virtually all the stores were back up and running again, with the few remaining stores scheduled to be back up shortly.
NEW ALBANY, Ind. (AP) — Duke Energy is planning to close coal ash ponds in Indiana because of new federal environmental regulations. Duke spokeswoman Angeline Protogere told The News and Tribune that the company is moving coal ash from some of its Gallagher Station ponds in New Albany to a landfill. Other ponds will be closed in place on the property. Coal ash is the waste produced from burning coal and can contain harmful toxins.
ALBANY, N.Y. (AP) — New York state is moving to restrict the ability of auto insurers to use a customer's job or education to set premiums. Gov. Andrew Cuomo announced the proposed regulation today. The Democrat says it's necessary to stop an unfair and discriminatory practice that has nothing to do with a person's driving ability.