NEW YORK (AP) — Investors are probably exhausted today after a really wild ride on Wall Street over the past week. The stock market had another turbulent session Friday. The Dow Jones industrial average soared 263 points, or 1.6 percent, to 16,380. The S&P 500 index rose 24 points, or 1.3 percent, to 1,886 and the Nasdaq composite rose 41 points, or 1 percent, to 4,258.
NEW YORK (AP) — Prospects of lower demand from a slowing global economy and high supplies are keeping oil prices down. In fact, they dropped 4 percent last week. But they gained a little ground on Friday. Benchmark U.S. crude rose 5 cents to close at $82.75 a barrel in New York and Brent crude, a benchmark for international oils, rose 34 cents to close at $86.16 in London.
UNDATED (AP) — Hedge fund Elliott Management is seeking seats on Family Dollar’s board, saying it wants to ensure the retailer reconsiders a buyout bid from rival Dollar General. Family Dollar accepted an $8.5 billion cash and stock buyout offer from another discounter, Dollar Tree, in July. Dollar General also wants to take over Family Dollar and has offered $9.1 billion in cash
UNDATED (AP) — The Food and Drug Administration says it has approved new labeling for another opioid designed to limit painkiller abuse. The FDA says Pfizer’s Embeda can have labeling indicating that it has properties expected to reduce abuse of the drug when it is crushed and taken orally or snorted. When swallowed intact, Embeda can still be misused.
WASHINGTON (AP) — Social Security recipients, disabled veterans and federal retirees can expect small increases in their benefits come January. Preliminary figures suggest the annual cost-of-living adjustment, or COLA, will be less than 2 percent. That translates to a raise of about $20 a month for the typical Social Security beneficiary. The government is scheduled to announce the COLA on Wednesday, when it releases the latest measure of consumer prices.
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