Stocks rise…Wholesale prices, durable goods edge higher
NEW YORK (AP) – Stocks are broadly higher in early trading on Wall Street, powered by technology and health care companies, as the market pushes for its third straight day of gains. Chipmaker Nvidia added 2.3 percent, helping to lead technology stocks higher. CVS Health rose as health care stocks rose broadly. Rite Aid climbed after the drugstore operator announced a management purge.
WASHINGTON (AP) – Wholesale prices barely increased last month after falling for three straight months, a sign there is little inflation pressure in the economy. The Labor Department says the producer price index – which measures price changes before they reach the consumer – rose 0.1 percent in February. It slipped 0.1 percent in January. Excluding volatile food and energy costs, core producer prices also rose 0.1 percent.
WASHINGTON (AP) – Orders to U.S. factories for big-ticket manufactured goods edged up slightly in January, but the strength came from a big increase in the volatile aircraft category. The Commerce Department says orders for durable goods rose 0.4 percent in January, led by a 15.9 percent rise in orders for commercial aircraft. In encouraging news for future growth, a key category that tracks business investment plans posted its biggest gain in six months, rising 0.8 percent after two months of declines.
WASHINGTON (AP) – U.S. health regulators are moving ahead with a plan designed to keep e-cigarettes out of the hands of teenagers by restricting sales of most flavored products in convenience stores and online. Under proposed guidelines released today by the Food and Drug Administration, e-cigarette makers would restrict sales of most flavored products to stores that verify the age of customers or include a separate, age-restricted area of the store for vaping products.
NEW YORK (AP) – The retailer Claire’s is recalling three makeup products after U.S. regulators warned they might contain asbestos. Last week, the Food and Drug Administration said product samples tested positive for asbestos but that Claire’s refused to recall any products that might still be in homes. The retailer at the time disputed the test results but said it removed the products from stores. Now, the company is also recalling the products, which were sold between 2016 and this month. Cosmetics don’t have to be reviewed by the FDA before they’re sold.