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NEW YORK (AP) — Stocks mixed in early trading, with the Dow modestly higher but the broader indexes in negative territory. Drug company stocks continue to slump, pulling health care companies lower. Traders are fearful that it will get harder for drug companies to raise their prices and boost their profits and revenues. Bank stocks are also down, as low interest rates hurt their profits on lending. Material and energy stocks are trading higher, as the price of oil climbs above $39 a barrel.
WASHINGTON (AP) — More Americans applied for unemployment benefits last week. The Labor Department says the number of people seeking jobless aid rose by 7,000 to a seasonally adjusted 265,000. However, that total is consistent with a healthy job market. The number of people collecting unemployment checks was 2.24 million. That's nearly 7 percent lower than this time last year.
WASHINGTON (AP) — The nation's trade deficit narrowed slightly in the final three months of 2015 but for the entire year jumped to the highest level since 2008. The Commerce Department says the deficit in the current account totaled more than $484 billion last year, a 24 percent increase over 2014. The deterioration reflects the struggles U.S. companies are having as weakness in major economies overseas and a stronger dollar sharply reduce export sales.
MIAMI (AP) — SeaWorld is ending its killer whale breeding. President and CEO Joel Manby says the company is proud of its part in contributing to the human understanding of the whales, but adds: "As society's understanding of orcas continues to change, SeaWorld is changing with it." SeaWorld says it is "reimagining" how guests will encounter orcas. It says it's formed a partnership with the Humane Society aimed at educating guests on animal welfare and conservation issues through interpretive programs at the parks and by expanded advocacy for wild whales, seals and other marine creatures.
PHOENIX (AP) — Uber is launching a pilot program intended to help the ride-hailing service's drivers draw their pay faster. Uber will allow drivers to deposit their earnings from each ride into an account with GoBank, a subsidiary of the pre-paid debit card company Green Dot. Uber pays its drivers once a week, sometimes leading to financial stress for some members of its largely low-to-middle income workforce.
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