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Stocks rebound... Crude rises... Fed official urges patience

By The Associated Press | Posted - Sep. 24, 2014 at 3:51 p.m.



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NEW YORK (AP) — U.S. stocks rebounded today and had their best performance in more than a month, led by gains in health care and consumer staples companies. The Dow Jones industrial average advanced 154 points to 17,210, its best day since Aug. 18. The Standard & Poor's 500 index rose 15 1/2 points to 1,998 and the Nasdaq composite rose 46 1/2 points to 4,555. The gains came after three days of losses for the S&P 500 and two straight days of triple-digit losses for the Dow.

NEW YORK (AP) — Benchmark U.S. crude oil rose $1.24 to $92.80 a barrel on the New York Mercantile Exchange. Oil rose after the government reported a larger-than-expected decline in oil stocks. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 10 cents to close at $96.95 on the ICE Futures exchange in London.

WASHINGTON (AP) — A Federal Reserve policy-maker says the central bank should be "exceptionally patient" before raising interest rates, even if it means over-shooting the Fed's inflation target for a time because the risks of moving too quickly remain sizable. Charles Evans, president of the Fed's Chicago regional bank, says despite improvements in the job market, the economy still needs help from the prolonged period of low rates.

UNDATED (AP) — Some lenders are preparing to reissue credit or debit cards to customers to head off possible losses following the breach of customer data at Home Depot. Capital One Financial and JPMorgan Chase say they're preparing to assign new cards to accountholders due to the theft at the home-improvement retailer. Earlier this month, Home Depot confirmed that malicious software lurking in its check-out terminals between April and September affected 56 million debit and credit cards.

SAN FRANCISCO (AP) — Apple's newest iPhones has run into some glitches after users complained that a new software update blocked their calls. Apple said it would stop providing the software update, which it began distributing this morning to fix several issues in the iOS 8 operating system for iPhones and iPads. The decision to pull the update came after some people complained that the update rendered their phones unable to make calls and caused problems with a feature that lets people unlock their phones with their fingerprint.

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The Associated Press

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