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Stocks hold steady...Oil prices surge... Hard economic times in Brazil

By The Associated Press | Posted - Aug. 28, 2015 at 3:51 p.m.



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UNDATED (AP) — Stocks are ending the day little changed at the end of a volatile week. The Dow Jones industrial average fell more than 11 points, or 0.1 percent, to 16,643 today. The Standard & Poor's 500 index rose one point, or 0.1 percent, to 1,988. The Nasdaq composite gained more than 15 points, or 0.3 percent, to 4,828.

NEW YORK (AP) — Oil prices are surging again, a day after recording their biggest gain in more than six years. Benchmark U.S. crude rose 6.3 percent today to finish at $45.22 per barrel in New York. The price of U.S. crude is still down 15 percent in 2015. Brent crude, a benchmark for international oils imported by U.S. refineries, rose 5.2 percent to $50.05 a barrel in London.

SAO PAULO (AP) — The Brazilian government says gross domestic product contracted for the second consecutive quarter, sending the economy of Latin America's biggest country into a technical recession. Brazil's economy has been hit by a drop in international commodity prices, sluggish global economic growth, rising inflation and high interest rates.

SAN FRANCISCO (AP) — Twitter is setting modest goals to diversify its workforce while it fights a proposed class-action lawsuit that says the online messaging service discriminates against its female employees. Twitter is aiming to fill 16 percent of its technology jobs with a woman next year, up from 13 percent. It wants women to make up 25 percent of its leadership roles from 22 percent now.

MOUNTAIN VIEW, Calif. (AP) — Defense Secretary Ash Carter says the Pentagon is funding a new venture to develop cutting-edge electronics and sensors that can flex and stretch and could be built into clothing or the skins of ships and aircraft. Carter announced the California-based consortium, called the Flexible Hybrid Electronic Institute, during a visit to Silicon Valley today.

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The Associated Press

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