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Stocks edge higher...Fed may raise interest rates this month... Energy futures rise

By The Associated Press | Posted - Mar. 3, 2017 at 3:34 p.m.



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NEW YORK (AP) — Major stock indexes have managed to eke out tiny gains on Wall Street after a day of wavering between small gains and losses. Banks climbed today as investors priced in an increasing likelihood that interest rates will rise in the coming months. The Standard & Poor's 500 index rose 1 point to 2,383. The Dow Jones industrial average edged up more than 2 points to 21,005. The Nasdaq composite increased over 9 points to 5,870.

UNDATED (AP) — Investors' expectations of a Federal Reserve interest rate hike this month is building. Fed Chair Janet Yellen helped stoke those expectations in a speech today in which she said an improving job market and rising inflation would likely prompt the central bank to increase borrowing costs. Speaking in Chicago, Yellen also added that the central bank expects steady economic improvement to justify additional rate increases.

NEW YORK (AP) — Energy futures are rising. Benchmark U.S. crude oil gained 72 cents, or 1.4 percent today, to close at $53.33 a barrel in New York. Brent crude, used to price international oils, added 82 cents, or 1.5 percent, to close at $55.90 a barrel in London.

JACKSON, Miss. (AP) — The United Auto Workers union is charging Nissan Motor Co. with breaking federal labor law less than two days before a Mississippi rally where Sen. Bernie Sanders plans to speak in favor of unionization. The UAW says that on Thursday, a company security guard wrongfully stopped workers from handing out literature and asking fellow employees to authorize a union vote outside a gate of the Canton, Mississippi, plant.

CHARLOTTE, N.C. (AP) — The largest U.S. electric company says its annual shareholders meeting in May will be its first without a physical gathering, with all business conducted and questions answered only online. Duke Energy Corp. says the live video webcast on May 4 will make the meeting accessible to 1 million shareholders worldwide. Dozens of companies including Hewlett-Packard and Intel have replaced in-person conclaves with virtual meetings.

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The Associated Press

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