NEW YORK (AP) — U.S. stocks have wrapped up another turbulent week with moderate gains. The Dow rose 103 points to 16,433. The S&P 500 gained 9 points to close at 1,961. The Nasdaq climbed 26 points to 4,822. Major indexes recouped from an earlier stumble caused by falling oil prices. U.S. crude fell $1.29 to close at $44.63 a barrel in New York. Brent Crude, a benchmark for international oil, fell 75 cents to close at $48.14 in London.
UNDATED (AP) — Goldman Sachs says the world has more oil than it had thought and expects prices to slip below $40 per barrel because the excess supply may linger deep into next year. The International Energy Agency predicts production outside OPEC countries will drop sharply in 2016 with prices so weak, but at least one Goldman analyst says these cuts may not be enough. That analyst is lowering his forecast for 2016 from $57 per barrel to $45 per barrel— and warning that prices could collapse to around $20 if production decreases too slowly.
NEW YORK (AP) — Traders are turning their attention to a key meeting of the Federal Reserve next week. Wall Street is divided over whether the Fed will raise its benchmark lending rate next week for the first time in nine years. The Fed slashed its key rate to near zero during the financial crisis, supporting the stock market's seven-year run. Uncertainty over the Fed's timing has kept investors on edge.
NEW YORK (AP) — CVS says investigators have confirmed that the company managing the drugstore chain's photo website was indeed hacked this summer. The hack may have resulted in the theft of some CVS customer information. The company's photo website has been shut down since July after the breach was detected. The photo sites of Rite Aid, Costco and Wal-Mart Canada also were affected.
NEW YORK (AP) — Talk about a market crash. Ticket prices in the secondary market for the U.S. Open women's final have dropped by 83 percent after Serena Williams' bid for the Grand Slam ended with her loss against Roberta Vinci in the semifinals. With high expectations for the first Grand Slam since 1988, the USTA said the women's final sold out before the men's, days ahead of the first match of the tournament. On resale site Stubhub, tickets were going for a minimum of $271 before Williams' loss. At last check, they're going for $45 and up.
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