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Stock market flat...Oil prices rise... WH wants Congress to extend expiring jobless benefits

Friday - 12/27/2013, 6:40pm  ET

NEW YORK (AP) -- The stock market is flat after six days of increases. An early gain faded by the close of today's trading on Wall Street. It was a relatively quiet day with many investors on vacation. The Dow Jones industrial average lost a point to close at 16,478. The S&P 500 index was down less than a point at 1,841. The Nasdaq composite edged down just over 10 points to 4,156.

UNDATED (AP) -- Optimism about the U.S. economic recovery is lifting expectations for the country's energy demand. That sent oil prices above $100 a barrel today. It's the first time it crossed that threshold since October. Benchmark crude for February delivery rose 77 cents to close at $100.32 today in New York. The average price of a gallon of gas is $3.28. That's up 6 cents from a week ago.

WASHINGTON (AP) -- The Obama administration says the expiration of federal unemployment benefits on Saturday is a blow to the economy and to families. Gene Sperling, who heads the National Economic Council, says the Senate will hold a vote as soon as Congress returns on a three-month extension proposed by two senators. The White House is calling on Congress to pass it quickly.

SEATTLE (AP) -- The international president of the Machinists union says Boeing's revised contract offer is an improvement of more than $1 billion. In a letter to union members, he says the offer that workers will consider next week is a significant improvement over a contract they rejected last month. Boeing has vowed to build the new 777X jet in the Puget Sound if the Machinists agree to the new contract.

CHICAGO (AP) -- The Tribune Co. says it has completed its $2.73 billion acquisition of Local TV Holdings LLC. It includes the purchase of 16 TV stations and an agreement to support three former local TV stations owned by Dreamcatcher Broadcasting. Tribune now owns or operates 42 stations as well as newspapers such as the Los Angeles Times and Chicago Tribune. Tribune plans to spin off its publishing business in 2014.

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