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NEW YORK (AP) — U.S. stocks are slipping. Energy stocks are leading the market lower as the price of oil dips, and shares of GM and Ford slumped as their December sales fell short of analysts' estimates. The Dow Jones industrial average fell 11 points as of 1:50 p.m. Eastern time. The S&P added four points. The Nasdaq composite rose three points to 4,906.
DETROIT (AP) — Automakers reported December and full-year sales today. General Motors led all automakers in the U.S. last year, with sales up 5 percent to just over 3 million cars and trucks. Ford was the best-selling brand for the sixth straight year, with sales of just over 2.5 million. Volkswagen saw sales plummet after it admitted that its diesel cars cheated on U.S. emissions tests. VW's sales fell 5 percent for the year.
NEW YORK (AP) — Energy prices continued to tumble because demand appears weak while global stockpiles are large. Those concerns outweighed reports of increased tensions in the Middle East, as Saudi Arabia severed diplomatic ties with Iran in a dispute that followed the execution of a Shiite cleric by Saudi Arabia. U.S. crude fell 76 cents to $36 a barrel in New York. Brent crude lost 80 cents to $36.42 a barrel in London.
WASHINGTON (AP) — The developer of Lumosity "brain training" games will pay $2 million to settle federal allegations that it had misled customers about the cognitive benefits of its online apps and programs. The Federal Trade Commission says the company's ads deceptively suggested that playing the games a few times a week could boost performance at work, in the classroom and even delay serious conditions like dementia.
SAN FRANCISCO (AP) — Yahoo has pulled the plug on an online video hub that had once been envisioned as the beleaguered company's answer to Netflix and YouTube. The end of the Yahoo Screen is part of a purge being directed by CEO Marissa Mayer with hopes of generating greater profit elsewhere.
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