Stocks close higher...Oil futures climb... UPS gearing up for holidays
UNDATED (AP) — Stock indexes overcame an afternoon wobble to close mostly higher today after the Federal Reserve said it would start reducing its huge bond portfolio next month and was still on track to raise interest rates later this year. The S&P 500 inched up over 1 point, to 2,508.. The Dow rose nearly 42 points to 22,412. The modest gains nudged both indexes to record highs. The Nasdaq, however, lost 5 points, closi9ng at 6,456.
UNDATED (AP) — Energy company stocks rose along with the price of oil today. Benchmark U.S. crude added 93 cents, or 1.9 percent, to settle at $50.41 a barrel on the New York Mercantile Exchange. At the same time, Brent crude, used to price international oils, gained $1.15, or 2.1 percent, to $56.29 a barrel in London. Meanwhile, wholesale gasoline was little changed at $1.66 a gallon.
UNDATED (AP) — It’s still summer, but UPS is gearing up for holiday deliveries. United Parcel Service says it plans to hire about 95,000 workers to handle the surge in packages from late November through January. That’s about the same number as the last two years. The company says the full- and part-time jobs are mostly for package handlers, drivers and helpers for the drivers. Applicants are required to apply online at UPSjobs.com.
NEW YORK (AP) — The Consumer Financial Protection Bureau could have fined Wells Fargo in excess of $10 billion for its illegal sales practices but instead settled for $100 million, according to the agency’s internal documents released by Congressional Republicans this week. The CFPB also had evidence that the bank’s sales problems went back to at least 2006, far earlier than what Wells Fargo originally admitted to.
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NEW YORK (AP) — Facebook is apologizing for letting advertisers use phrases like “Jew-haters” as a targeting criteria and for not noticing it until it was pointed out. The company is also tightening policies and tools that let businesses target advertisements to its 2 billion users, hoping to ensure that this doesn’t happen again. The move follows a ProPublica report that found advertisers could use terms such as “how to burn Jews” to target ads to people with these terms in their profile.
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