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Stocks bounce back...Pritzker approved as commerce secretary...Cab drivers protest apps

Tuesday - 6/25/2013, 7:00pm  ET

WASHINGTON (AP) -- Wall Street has bounced back from yesterday's sell-off. Traders were encouraged by signs that the housing recovery is strengthening, factories are fielding more orders and consumer confidence is rising. The Dow Jones industrial average climbed 100 points, the S&P 500 index rose 14 and the Nasdaq was up 27.

NEW YORK (AP) -- Crude oil futures prices have ended slightly higher on the New York Mercantile Exchange. Benchmark oil for August delivery rose 14 cents to $95.32 a barrel. Traders are awaiting the weekly report on oil and gasoline supplies due out tomorrow from the Energy Department. The nation's supply of crude oil is near a record level, while gasoline supplies remain high because of tepid demand.

WASHINGTON (AP) -- The Senate has confirmed billionaire business executive Penny Pritzker to be commerce secretary. She'll take over for John Bryson, who resigned last summer. Pritzker is a longtime friend of President Barack Obama who raised hundreds of thousands of dollars for his presidential campaigns.

RICHMOND, Va. (AP) -- The Food and Drug Administration is taking a small step to whittle away a backlog of 4,000 tobacco product applications. The federal agency says it has approved applications for two kinds of cigarettes sold by Lorillard Inc., both non-menthol versions of its flagship Newport brand. The FDA also says it has rejected four applications, but it didn't say what they were. A 2009 law gave the FDA authority to regulate tobacco.

LOS ANGELES (AP) -- Los Angeles cabbies have staged a noisy protest over the smartphone-driven ride-sharing services that are cutting into their business. About 200 taxis honked their horns and circled City Hall to demand the city crack down on app-driven companies that allow consumers to book rides online with limousine companies and private drivers. A man representing four cab companies says the rides are nothing more than "illegal taxis disguised under the digital cloud."


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