Stocks End Slightly Higher; Dow Sets Record
- Friday, May 9, 2014, 13:52
- Stock Market
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U.S. stocks ended with small gains on Friday, with the Dow Jones Industrial Average notching a record close while the Nasdaq Composite posted its biggest weekly fall in four weeks . The Dow industrials rose 32.37 points, or 0.20%, to close at 16,583.34, rising 0.4% for the week. The S&P 500 rose 2.85 points, or 0.15%, to 1,878.48, leaving the index with a 0.1% weekly decline. The Nasdaq Composite gained 20.37 points, or 0.50%, to 4,071.87, trimming its weekly loss to 1.3%.
Kellogg Co has agreed to stop using terms such as “All Natural” and “100% Natural” on some of its Kashi and Bear Naked brand product labels and to pay more than $5 million to settle a class-action consumer fraud lawsuit.
The United States Postal Service ended its second quarter with a net loss of $1.9 billion as first-class mail volume continued to tumble and lawmakers remained at odds over providing any financial relief, the agency said on Friday.
The Obama administration announced its first steps on Friday toward possibly tighter regulation of hydraulic fracturing, or fracking, seeking public input on whether companies should be required to disclose the contents of fluids used in the oil and natural gas drilling technique.
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