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Wall Street-Banner Day ,,, Trump-Federal Reserve ... Celgene Corp.-Lawsuit Settlement



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NEW YORK (AP) — U.S. stock indexes returned to records today as corporate profits continue to come in better than analysts expected. McDonald's and Caterpillar were among the big companies that reported healthier-than-expected results. The Standard & Poor's 500 rose 7.17 points, to an all-time high of 2,477.08. It was the first gain for the index in four days. The Dow Jones industrial average rose 100.26 and the Nasdaq composite added 1.37 points.

WASHINGTOM (AP) — President Donald Trump says he's considering either re-nominating Janet Yellen for a second term as Fed chair or replacing her with someone else, possibly Gary Cohn, who leads his National Economic Council. He tells the Wall Street Journal that he has a "lot of respect" for Yellen but might still consider someone else.

LOS ANGELES (AP) — A New Jersey pharmaceutical company has agreed to pay $280 million to settle a federal lawsuit alleging it committed fraud promoting two cancer drugs for unapproved purposes. The settlement with Celgene Corp. was announced today by federal prosecutors in Los Angeles. A lawsuit alleged the company submitted false claims to Medicare and health care programs in 28 U.S. states and Washington, D.C.

DENVER (AP) — Chipotle says its sales rose during the second quarter as it worked on recovering from past food scares, but noted that recent events show it still has "a lot of opportunity" to improve its operations. The Denver-based company says sales rose 8 percent at established locations for the three months that ended June 30, following a 24 percent drop in the year-ago period. The improved results do not reflect any potential fallout from this month, when Chipotle temporary closed a store in Virginia, prompted by what health officials believe was a norovirus outbreak.

WASHINGTON (AP) — IRS Commissioner John Koskinen says the agency is seeing a big drop in the number of identity theft victims. This development came after the IRS teamed up with tax preparers to fight the problem. The number of victims last year dropped to 377,000 from nearly 700,000 the year before.

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The Associated Press

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