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July hot streak continues...Boeing shares rebound...Weaker than thought?

Monday - 7/15/2013, 7:00pm  ET

NEW YORK (AP) -- The July hot streak continues on Wall Street. Stocks started the week with small gains that raised the Dow and the S&P 500 to new highs. The Dow gained more than 20 points to close just below 15,485, while the S&P 500 rose two points to 1,682. The Nasdaq rose seven points to 3,607.

NEW YORK (AP) -- Boeing shares have rebounded after battery problems were ruled out as the cause of Friday's fire in a Boeing 787 at London's Heathrow Airport. Battery problems grounded the plane for three months earlier this year. Boeing rose 3.7 percent to $105.66, the biggest gain in the Dow Jones industrial average.

WASHINGTON (AP) -- There are a couple of signs that the U.S. economy may be weaker than many economists had thought. Reports on June retail sales and business stockpiles for May both showed gains, but small ones. Stockpiles grew just 0.1 percent. Sales were 0.4 percent higher, but that number was driven by auto sales and higher gas prices. When those volatile categories are excluded, core retail sales rose just 0.15 percent.

NEW YORK (AP) -- Jurors at a Manhattan trial of a former Goldman Sachs trader have heard him described both as an architect of a massive securities fraud and as a low-level scapegoat for the mortgage market meltdown that began in 2007. In opening arguments, a lawyer for the Securities and Exchange Commission said "Wall Street greed" drove Fabrice Tourre (fah-BREES' toor) to "lie and deceive." Tourre's defense attorney countered that her client "never misled anyone."

NEW YORK (AP) -- The owners of the World Trade Center buildings destroyed in the Sept. 11 attacks are seeking billions of dollars in damages from aviation companies linked to the hijacked planes, including United and American airlines. World Trade Center Properties has already received nearly $5 billion in insurance proceeds. A lawyer for the airlines argued the extra billions would be more than double the fair market value of the buildings that were destroyed.

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