Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NEW YORK (AP) — Stocks have set new records as big gains by banks and travel companies pushed the Dow ever closer to the symbolic 20,000-mark. Financial firms were helped by bond yields that rose in concert with interest rates. And cruise line operator Carnival posted strong earnings. The Dow gained 92 points to 19,974. The S&P rose 8 points and the Nasdaq gained 27.
SAN FRANCISCO (AP) — Volkswagen has reached a deal with U.S. regulators and attorneys for car owners for the remaining 80,000 diesel vehicles caught in the company's emissions cheating scandal. A federal judge in San Francisco says it will include the option of a buyback for at least 20,000 vehicles and will give all the car owners substantial compensation on top of any repairs or a buyback. He didn't disclose any numbers and said the parties still have more work to do. Volkswagen previously reached a deal for 475,000 2-liter diesel cars that also were programmed to cheat on emissions tests.
HONOLULU (AP) — President Barack Obama has designated the bulk of U.S.-owned waters in the Arctic Ocean and certain areas in the Atlantic Ocean as indefinitely off limits to future oil and gas leasing. The move helps put some finishing touches on Obama's environmental legacy while also testing President-elect Donald Trump's promise to unleash the nation's untapped energy reserves. The Canadian government also today placed a moratorium on new oil and gas leasing in its Arctic waters.
NEW YORK (AP) — Cheerios and Pillsbury roll maker General Mills has cut its sales outlook for the year. The Minnesota company and many of its competitors have struggled as more Americans stay away from processed foods. General Mills stock lost almost 3 percent today. Other household goods makers like Tyson Foods and Kraft Heinz also traded lower.
NEW YORK (AP) — FedEx has reported earnings that missed Wall Street expectations after the shipping company's expenses soared in the second quarter. Shares of FedEx slipped 3 percent in after-hours trading Tuesday. Earnings, adjusted to remove the costs related to its recent acquisition of TNT Express, were $2.80 per share. That's far below the $2.91 per share FactSet says analysts expected.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
