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UNDATED (AP) — Disappointing quarterly results and outlooks from several companies as well as new signs pointing to a slowing of China's economy are concerning investors. As a result, the stock market capped a four-day losing streak Friday with its biggest drop of the week. The S&P 500 dropped 22 1/2 points. The Dow slid 163 points and the Nasdaq lost nearly 58.
UNDATED (AP) — The price of oil is continuing its slide. Benchmark U.S. crude fell 31 cents yesterday to close at $48.14 a barrel in New York. Crude fell 5 percent for the week, and is down 19 percent for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 65 cents Friday to close at $54.62 a barrel in London.
NEW YORK (AP) — Fiat Chrysler is recalling more than half a million trucks in the U.S. to fix faulty impact sensors, which could cause seat belt pre-tensioners to activate and air bags to deploy unexpectedly. The recall comes a day after the company announced an even bigger U.S. recall to update vehicles' software in order to safeguard it from hacking.
EAST RUTHERFORD, N.J. (AP) — A new drug for advanced basal cell carcinoma, an increasingly common cancer in the skin's top layer, has won Food and Drug Administration approval. Odomzo (ah-DAHM'-zoh), a pill taken daily, was approved for patients whose cancer hasn't spread to other body parts, but recurred after surgery or radiation therapy or can't be cured by those treatments.
NEW YORK (AP) — AT&T is now the nation's biggest traditional TV provider with its $48.5 billion purchase of DirecTV. The buy received regulatory approval from the Federal Communications Commission on Friday. The Justice Department had already cleared the deal on Tuesday. AT&T now has 26.4 million cable and satellite TV subscribers.
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