You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Hyundai Motor to pay $9.6 billion for Gangnam land
      SEOUL, South Korea – A consortium led by Hyundai Motor Co. has offered $9.6 billion for land in Seoul’s tony Gangnam district where it will build a new headquarters.
  • Consumer prices fall, easing inflation fears
    WASHINGTON – U.S. consumer prices edged down in August, the first monthly drop since the spring of 2013, as gasoline, airline tickets and clothing prices all fell.
  • Fed to keep interest at record low
    WASHINGTON – The Federal Reserve signaled Wednesday that it plans to keep a key interest rate at a record low because a broad range of U.S. economic measures remain subpar.
Advertisement

Dow closes above 14,000

NEW YORK – The Dow stock market index closed above 14,000 for the first time since before the financial crisis rocked the world economy.

Propelled by strong auto sales and optimism about U.S. jobs, the Dow Jones industrial average crossed the line early Friday and continued flirting with the mark all day. The other major stock indexes also rose.

The Dow was up 149 points to 14,010. It’s gained 6.9 percent this year. The Standard & Poor’s 500 rose 15 to 1,513. The Nasdaq composite index added 37 to 3,179.

The government jobs report that pushed stocks forward was mixed. The U.S. said it added 157,000 jobs in January, in line with expectations. But unemployment inched up to 7.9 percent.

Automakers Toyota, Ford, GM and Chrysler all reported double-digit sales gains for January.

Advertisement