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NEW YORK (AP) — U.S. stocks are lower in early trading today. At 10:51 a.m. Eastern Time, the Dow was down 134 points at 17,615. The S&P 500 was down 18 points, at 2,055. And the Nasdaq was down 31 points, to 5,040. Bond prices rose. The yield on the 10-year Treasury note rose to 2.27 percent.
WASHINGTON (AP) — A day after the Federal Reserve raised interest rates -- in a sign of confidence in the economy -- there's more evidence today of a strong job market. Fewer people are applying for unemployment. The Labor Department says last week, the number of people applying for jobless benefits dropped by 11,000.
NEW YORK (AP) — The former hedge-fund manager who's been widely criticized for buying a drug company and then hiking the price of a life-saving drug has been arrested. But it has nothing to do with drug prices. Martin Shkreli (SHKREHL'-ee) is facing charges in connection with a securities probe. His arrest was confirmed today by the FBI. He stirred public outrage earlier this fall when his company, Turing Pharmaceuticals, jacked up the price of a drug used to treat a life-saving infection by more than 5,000 percent.
WASHINGTON (AP) — Average long-term U.S. mortgage rates rose slightly this week in the days before the Federal Reserve announced a historic increase in its key short-term interest rate. Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage edged up to 3.97 percent from 3.95 percent a week earlier. The average rate on 15-year fixed-rate mortgages increased to 3.22 percent from 3.19 percent.
NEW YORK (AP) — Just Mayo says it will get to keep its name, even though it contains no eggs. Just Mayo's maker Hampton Creek worked out an agreement with the Food and Drug Administration, after the FDA sent the company a warning letter in August, saying the product was misbranded because mayonnaise is defined as having eggs. Just Mayo says it will have to make it clear on the label that it contains no eggs.
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