Roundup: Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall; Nike to Stop Making Golf Equipment; More; Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall [Derived Headline]

By From And Wire Reports | Tribune-Review/Pittsburgh Tribune-Review, August 4, 2016 | Go to article overview

Roundup: Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall; Nike to Stop Making Golf Equipment; More; Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall [Derived Headline]


From And Wire Reports, Tribune-Review/Pittsburgh Tribune-Review


Tech firms gain; oil prices climb; bank stocks fall

U.S. stocks wavered Thursday and finished barely higher as an interest rate cut by the Bank of England, a move intended to shore up the British economy, was not enough to get investors out of their cautious mode.

Technology companies continued to make the biggest gains. Oil prices rose for the second day in a row, something that hadn't happened for almost three weeks.

Bank stocks fell the most, as the interest rate cut suggests they won't make as much money on lending.

The Dow Jones industrial average gave up 2.95 points to 18,352.05. The Standard & Poor's 500 index added 0.46 of a point to 2,164.25. The Nasdaq composite gained 6.51 points, or 0.1 percent, to 5,166.25.

Nike to shift away from golf equipment

Nike Inc., the world's largest maker of sporting goods, will stop selling golf equipment, striking another blow to a pastime hurt by slowing participation rates.

The company will shift away from golf clubs, balls and bags, but it will continue selling footwear and apparel for the sport, according to a statement Wednesday.

Sales at the Nike Golf division fell 8.2 percent to $706 million in the fiscal year that ended in May, making it the company's worst performing major category.

Ford recalls 830K vehicles to fix latches

Ford is recalling about 830,000 vehicles in the United States and Mexico because parts in the side door latches can break and the doors can open while the vehicles are moving.

The recall announced Thursday covers certain 2013 to 2015 Ford Escape SUVs and C-Max cars, and 2012 to 2015 Focus cars. Also included are 2014 to 2016 Ford Transit Connect vans, and Ford Mustang sports cars and Lincoln MKC sport utility vehicles from 2015.

Ford says a faulty spring part can break, stopping the doors from latching. The company says the rate of problems is higher in states with high temperatures and sunlight exposure.

Investment orders edge up 0.4% in June

A key category of orders to U.S. businesses that tracks investment posted a small gain in June after two months of declines.

But overall factory orders fell, reflecting a drop in the volatile category of commercial aircraft.

The Commerce Department says that orders that cover business investment plans rose 0.4 percent in June after declines of 0. …

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Roundup: Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall; Nike to Stop Making Golf Equipment; More; Tech Firms Gain; Oil Prices Climb; Bank Stocks Fall [Derived Headline]
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