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NEW YORK (AP) — Stocks have ended the day modestly higher as the major indexes inch back up toward the record highs reached last week. Homebuilders rose sharply following a big jump in sales of new homes last month, and Best Buy soared after the electronics retailer reported a surge in profit as online sales increased. The Dow rose 18 points. The S&P gained 4 points and the Nasdaq rose 15. Crude oil closed up 69 cents to $48.10 a barrel
DETROIT (AP) — Tesla Motors says a version of the Model S electric car is now the fastest-accelerating car in production. The company says the Model S P100D sedan can go from zero to 60 in 2.5 seconds. It's also boasting a new battery pack that extends the car's range to about 315 miles from just under 300. The new battery is also available on the Model X SUV.
WASHINGTON (AP) — The Congressional Budget Office says it expects this year's budget deficit to increase to $590 billion -- up one-third over last year's tally. The CBO is blaming lower-than-expected tax revenues for the spike. The agency is also lowering its projections of economic growth over the next several years, in part because of the disappointing results so far in 2016.
SAN ANTONIO (AP) — The parent company of the Circle K convenience store and gas station chain has agreed to buy San Antonio-based CST Brands in a $4.4 billion deal. The deal is expected to close in early 2017, pending approval from CST Brands shareholders and regulators. CST is one of the largest independent retailers of motor fuel and convenience merchandise in North America with over 2,000 locations.
ORRVILLE, Ohio (AP) — Americans' increasingly picky tastes are affecting not just the bowls on their tables, but those on the floor. J.M. Smucker Co. says sales of Kibbles 'n Bits posted a double-digit decline in the latest quarter due to the growing popularity of more-premium brands. The company concedes people are looking for pet foods with better ingredients.
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