NEW YORK (AP) — Stocks are closing slightly higher today. And the Dow Jones industrial average has reached another all-time high. The blue-chip index edged up 32 points to close at 16,583. That’s about three points above the previous record high on April 30. The S&P 500 index rose three points to 1,878. The Nasdaq composite ended 20 points higher at 4,071.
UNDATED (AP) — The price of oil has slipped to just under $100 a barrel, leaving crude nearly flat for the week. Benchmark U.S. crude for June delivery fell 27 cents today to close at $99.99 in New York. The contract ended last week at $99.76. Meanwhile, the average retail price of gasoline nationwide fell less than a penny today to $3.66 a gallon.
UNDATED (AP) — Chrysler is recalling 780,000 minivans to replace window switches on the driver-side door that can short-circuit and overheat if exposed to moisture. The company says it knows of 36 incidents related to the faulty switches, but is unaware of any related injuries or accidents. The recall involves certain 2010 through 2014 Dodge Grand Caravan and Chrysler Town & Country minivans.
NEW YORK (AP) — A former Citigroup chairman and Time Warner chairman and CEO will be the interim CEO of the Los Angeles Clippers. The NBA has chosen Dick Parsons to oversee the franchise while the league tries to force owner Donald Sterling to sell it following his lifetime ban for making racist remarks. Parsons says he’s been “deeply troubled” by the Clippers’ situation.
ALEXANDRIA, Va. (AP) — A Virginia-based drug company has been ordered to pay $3.4 million and its founder has been sentenced to three years in prison for distributing misbranded drugs to doctors across the U.S. Gallant Pharma International and Syed Huda pleaded guilty last year in federal court to illegal importation and introducing misbranded drugs into interstate commerce.
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