Stocks climb...Oil price jumps... PC shipments down

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Associated Press

Posted on April 10, 2014 at 12:00 AM

Updated Thursday, Apr 10 at 12:00 AM

NEW YORK (AP) — The stock market is sharply higher as investors got some encouraging news about interest rates from the Federal Reserve and as U.S. corporate earnings got off to a good start. The S&P 500 rose 20 points, or 1.1 percent, to close at 1,872. The Dow Jones industrial average rose 181 points, or 1.1 percent, to 16,437. The Nasdaq rose 71 points, or 1.7 percent, to 4,183.

UNDATED (AP) — The price of oil is up. It rose to a five-week high today amid unrest in eastern Ukraine, even as a report showed a large rise in U.S. crude oil supplies. Benchmark U.S. crude for May delivery gained $1.04 to close at $103.60 on the New York Mercantile Exchange. The contract gained $2.12 on Tuesday. It last closed above $103 on March 4.

NEW YORK (AP) — Worldwide shipments of PCs continue to drop. But the decline in the first quarter of the year wasn't as dramatic as in recent periods. Market research firm Gartner Inc. says shipments fell 2 percent to 76.6 million units in the first three months of 2014. In comparison shipments fell 7 percent in the fourth quarter of 2013. Lenovo shipped the most PCs. Its market share increased 2 percentage points to 17 percent.

ST. PETERSBURG, Fla. (AP) — This year's Florida orange crop is approaching the fruit's lowest harvest in 24 years. The 2013-2014 orange forecast from the U.S. Department of Agriculture is 110.0 million boxes, down 4 percent from last month, and 18 percent less than last season's final production figure. Florida has 66 percent of the total U.S. market share. Most of its crop is used for juice.

WASHINGTON (AP) — With tax day approaching, most Americans say filling out a federal tax return isn't that hard, after all. A new Associated Press-GfK poll finds that 58 percent of Americans say filing a federal tax return is easy. Twenty-seven percent call it somewhat hard and only 11 percent very hard. High-income people are more likely to say tax returns are hard to figure out.

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