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S&P 500 on a roll...Oil prices drop...First suit filed in cruise ordeal

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Posted: Feb 16, 2013 10:45 AM

Updated: Feb 16, 2013 10:46 AM

NEW YORK (AP) The Standard & Poor's 500 has had another good week -- in fact its seventh straight week of gains. But the S&P lost 1 1/2 points yesterday to close at 1,520. The Dow Jones industrial average has drifted lower for two consecutive weeks, although yesterday it closed up 8 points at 13,981. The Nasdaq composite fell 6 points on Friday.

NEW YORK (AP) Disappointing U.S. industrial production data is fueling concerns about the nation's economic recovery. Oil prices fell below $96 a barrel yesterday. In New York, benchmark crude for March fell $1.45 to finish at $95.86 a barrel on the New York Mercantile Exchange. Brent crude, used to price many varieties of foreign oil, fell 34 cents to end at $117.66 per barrel in London.

MIAMI (AP) A passenger who lived through days of unpleasant conditions aboard the Carnival Triumph after the ship's power was knocked out by a fire in the Gulf Of Mexico is suing the cruise line. Texas resident Terry Cassie's suit against Carnival says she feared for her life or that she might suffer serious injury or illness because of the presence of raw sewage and spoiled food.

WASHINGTON (AP) Federal regulators are alleging that a brokerage account in Switzerland was used for illegal insider trading ahead of the H.J. Heinz acquisition. The Securities and Exchange Commission says the account was used for trades placed Wednesday that netted $1.7 million after the deal was announced on Thursday. The SEC alleges the traders must have known in advance about the pending transaction based on inside information.

UNDATED (AP) Facebook says it was the target of hackers but no user information was compromised during the attack. The social media giant says the company discovered in January that its system had been targeted in a sophisticated attack. Facebook says it has fixed infected machines, informed law information and an investigation is under way.

Topics: Saturday BusinessMinute

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