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Stocks reflect growing confidence...Greek debt...New England fishing braces

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Posted: Jan 26, 2013 10:02 AM

Updated: Jan 26, 2013 10:02 AM

NEW YORK (AP) Investors appear more confident that the economy is improving. Good company earnings and government reports have been fueling a rising stock market. Yesterday, the S&P closed above 1,500 for the first time since the start of the Great Recession in 2007. It was up eight points, or half a percent. The Dow closed at 13,896, up nearly 71 points. The Nasdaq gained 19.

UNDATED (AP) The price of oil is down slightly. Benchmark crude fell 7 cents yesterday to close at $95.88 in trading on the New York Mercantile Exchange. It ended the week with a gain of 32 cents. A report yesterday showing a cooling off in new home sales offset the positive influence of ebullient U.S. stock markets.

NEW YORK (AP) The leader of Greece's leftist opposition is calling for an agreement to wipe out some of the government debt that Greece and other countries in Europe are struggling to repay. Alexis Tsipras says European leaders are now only taking a piecemeal approach. He suggests the agreement could include a moratorium on debt payments until countries pull out of recession.

NEWARK, N.J. (AP) A Florida man is facing insider trading charges in New Jersey for allegedly tipping off two people to a company acquisition. Kevin Dowd of Boca Raton was arrested on a charge of conspiracy to commit securities fraud. Prosecutors say he used his position at the Florida office of a global wealth management firm to profit from a tip that Gilead Science was buying New Jersey-based Pharmasset.

BOSTON (AP) New England's fishing industry is bracing for new catch limits that some fishermen say will be the death of the industry. New England's top fishing regulator says crippling cuts in catch limits are unavoidable because some key fish populations are so weak, "draconian" reductions are needed. John Bullard acknowledges the cuts will have "devastating" effects "on the fleet, and on families, and on ports."

Topics: Saturday BusinessMinute

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