Dow hit another milestone...Oil prices climb... Sears to shutter more stores
NEW YORK (AP) — The Dow Jones industrial average has closed above 25,000 points for the first time, just five weeks after its first close above 24,000. Technology companies continue to outpace the rest of the market. Banks benefited today from higher bond yields. The Dow jumped 152 points to 25,075. The S&P 500 rose 11 points to 2,723 and the Nasdaq climbed 12 points to 7,077.
NEW YORK (AP) —Oil futures have finished higher. Benchmark U.S. crude rose 38 cents to $62.01 a barrel in New York today. And Brent crude, used to price international oils, added 23 cents to $68.07 a barrel in London. In other commodities trading, wholesale gasoline rose 1 cent to $1.81 a gallon.
NEW YORK (AP) — Sears Holdings will be closing over 100 more stores as the struggling department store chain tries to turn around its business. The Illinois-based company says that includes 64 Kmart stores and 39 Sears stores that will be shuttered between early March and early April. Liquidation sales will begin as soon as next Friday at the stores. The number of layoffs isn’t known. Sears say the majority are part-time. The retailer is trying to raise cash.
OMAHA, Neb. (AP) — Billionaire Warren Buffett remains optimistic about the U.S. economy and the nation’s prospects for the future. In an essay for Time magazine that appeared online today, Buffett explained why he often says that most children will live better than their parents. He says that even if the economy continues to grow at a modest pace of about 2 percent a year, the next generation will fare better because the population will grow at a slower rate.
PASADENA, Calif. (AP) — The Fox broadcasting network, home to “The Simpsons” and “The Orville,” will continue to air scripted entertainment after the Fox TV studio’s sale to Disney. That’s according to Fox Television Group chairmen Dana Walden and Gary Newman. They told TV critics today that the pending deal separating the Fox network and 20th Century Fox studio won’t turn the network into a platform solely for sports and other live programming.