NEW YORK (AP) — The stock market’s fabulous start to 2018 has carried through its second week. Rising retailers pushed stock indexes farther into record territory on Friday. Interest rates also climbed after a report showed that a key component of inflation accelerated last month. The S&P 500 rose over 18 points to 2,786. The Dow climbed 228 to 25,803. The Nasdaq rose 49 points to 7,261 and the small cap Russell 2000 gained 5 points to close at 1,591.
NEW YORK (AP) — Oil futures are continuing their upward trend. Benchmark U.S. crude rose 50 cents in New York on Friday to settle at $64.30 per barrel. At the same time, Brent crude, the international standard, gained 61 cents to settle at $69.87 per barrel in London. In other commodities trading, heating oil added a penny to $2.09 per gallon and wholesale gasoline rose 1 cent to $1.85 per gallon.
BURBANK, Calif. (AP) — Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey will be leaving the board of The Walt Disney Co. Neither executive will stand for re-election in March. A Disney spokesperson says it has become "increasingly difficult for them to avoid conflicts relating to board matters." With Disney planning to put ESPN online, Twitter live-streaming sports like NFL football, and Facebook prioritizing live video, online video is a likely area of overlap.
NEWPORT NEWS, Va. (AP) — The owner of a Virginia seafood company has been charged with conspiracy to defraud the federal government by mixing foreign crab meat with Atlantic blue crab, then labeling the blended seafood and selling it to customers as a U.S. product. James Casey, owner and president of Casey’s Seafood, was charged Friday with violating the Lacey Act, a law that prohibits trafficking in illegal wildlife.
BILLINGS, Mont. (AP) — Former billionaire real estate developer Tim Blixseth has reached a $3 million settlement to resolve claims he illegally pocketed hundreds of millions of dollars from a Montana resort for the super-rich. The agreement between Blixseth and creditors for the Yellowstone Club was revealed in court documents filed late Friday. Blixseth founded the posh resort near Big Sky. It went bankrupt in 2008 and has since come under new ownership.
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