NEW YORK (AP) — Stock indexes are closing higher as big companies turn in encouraging quarterly results. The Dow Jones industrial average rose 221 points, or 1.3 percent, to 17,195 today, thanks in large part to a big gain in Visa, the Dow’s highest-priced stock. The S&P 500 index gained 12 points, or 0.6 percent, to 1,994. The Nasdaq composite rose 17 points, or 0.4 percent, to 4,566.
NEW YORK (AP) — The price of oil is continuing to fall as the dollar strengthens making oil priced in dollars less attractive to overseas buyers. Benchmark U.S. crude fell $1.08 to close at $81.12 a barrel today on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, fell 88 cents to close at $86.24 on the ICE Futures exchange in London.
NEW YORK (AP) — Citigroup is slashing its third-quarter earnings by $600 million, saying recent investigations by regulators have altered the results it reported earlier this month. The bank revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.
SEATTLE (AP) — Starbucks is reporting higher sales for its fiscal fourth. For the quarter ended Sept. 28, the Seattle-based company says it earned $587.9 million, or 77 cents per share. Not including one-time item, it earned 74 cents per share, which was in line with Wall Street expectations. But revenue came in at $4.18 billion, short of the $4.24 billion analysts expected.
NEW YORK (AP) — Williams-Sonoma has agreed to pay a $700,000 fine after the government accused the home goods retailer of taking too long to report that window shades sold by its Potter Barn Kids stores posed a strangulation hazard to children. The shades were recalled in 2009. No injuries were reported. By paying the fine, Williams-Sonoma is not admitting or denying the charges.
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