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Wall Street registers modest gains ... Oil prices ... Supreme Court-Patent Case ...

Monday - 6/2/2014, 6:29pm  ET

NEW YORK (AP) -- The day started poorly on Wall Street up ended up with marginal gains. Things picked up when a report on the health of U.S. manufacturing was revised higher. A trade group said U.S. manufacturing grew at a brisk pace last month, correcting its earlier statement that growth had slowed. The Dow industrials rose 26 points. The S&P 500 gained a point, to finish at another all-time closing high. The Nasdaq composite lost five points.

UNDATED (AP) -- The price of oil fell slightly today and closed at a two-week low. Benchmark U.S. oil for July delivery fell 24 cents to $102.47 a barrel on the New York Mercantile Exchange. Last week, the price of oil fell by 1.6 percent. U.S. drivers are hoping to see a decline in gasoline prices. At $3.67, the average price of a gallon of gas is the highest its been since early May.

WASHINGTON (AP) -- The Supreme Court has ruled unanimously that a company isn't liable for inducing patent infringement if someone other than the company carries out some of the steps leading to infringement. The justices held in a ruling released today that Internet content delivery company Limelight Networks Inc. did not infringe on the patented system for managing images and video, which was owned by a rival -- Akamai Technologies Inc.

BOSTON (AP) -- The attorney general of Massachusetts, Martha Coakley, has sued the Federal Housing Finance Agency and mortgage giants Fannie Mae and Freddie Mac for refusing to comply with a state law designed to stem the tide of foreclosures in Massachusetts. Coakley argues that mortgage giants Fannie Mae and Freddie Mac violated a 2012 Massachusetts law that allows the sale of homes in foreclosure to nonprofit organizations that intend to restructure the loan and sell the property back to the homeowner.

DOHA, Qatar (AP) -- The International Air Transport Association is marking 100 years since the first scheduled commercial flight took off, making a 23-minute journey across Florida's Tampa Bay. A roundtrip ticket on the Jan. 1, 1914, flight from St. Petersburg, Florida, to Tampa, Florida, was priced at $10.


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