S&P streak in doubt...Netflix soars...AOL discontinuing IM
NEW YORK (AP) — U.S. stocks faded from their record highs today, and the Standard & Poor’s 500 index was on track to snap its longest winning streak in four years. Energy stocks were particularly weak following another drop in the price of oil. The S&P 500 index fell 6 points, or 0.2 percent, to 2,546, as of 1 p.m. Eastern time. If it stays there, it would be the first loss for the index in nine days.
NEW YORK (AP) — Shares of Netflix are streaming to new highs a day after announcing its first true price hike in years. That’s a far different result compared with 2011 when Netflix separated its streaming and DVD-by-mail service and raised prices. About 600,000 customers fled and its stock price plummeted by 80 percent. Shares of Netflix hit $198.92 today.
WASHINGTON (AP) — President Donald Trump is promising Americans “the largest tax cut in our country’s history.” But for low-income households, Trump’s plan would amount to crumbs. An independent analysis says low-income families would save an average of $60 a year. Another says their incomes would go up by less than 1 percent. Congressional Republicans say the critiques are premature because the plan is incomplete.
ATLANTA (AP) — UPS says in court records that it suspects one of its pilots obtained secret business plans for the shipping giant’s aircraft fleet and posted them online. UPS is taking steps to identify whoever was responsible for posting the strategic plans on an internet message board frequented by pilots.
NEW YORK (AP) — AOL has announced that it’s discontinuing its pioneering Instant Messenger chat platform after 20 years of service. An article on AOL’s website says AOL Instant Messenger will be discontinued on Dec. 15. AOL says it’s shutting down the program because its focus is “on building the next generation of iconic brands and life-changing products.”