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Stocks mixed...Wholesale stockpiles shrink, sales rise...Judge finds Apple conspired to raise e-book prices

Wednesday - 7/10/2013, 11:49am  ET

NEW YORK (AP) -- Stocks are little changed on Wall Street as investors await today's release of the minutes from the Federal Reserve's latest policy meeting. After an hour of trading, the Dow and the S&P 500 were slightly lower and the Nasdaq slightly higher. The Dow has risen for the past four days. It hasn't had a streak of five gains or more since mid-March.

WASHINGTON (AP) -- U.S. wholesalers have cut back on restocking despite a rise in sales. The Commerce Department says wholesale stockpiles shrank half a percent in May, the most in 20 months. That followed a 0.1 percent decline in April, which was revised lower. But sales jumped 1.6 percent in May and 0.7 percent in April. The steady gain in sales suggests companies will have to order more goods in the coming months.

NEW YORK (AP) -- The judge in a New York civil antitrust trial has found that Apple Inc. conspired with publishers to raise electronic book prices. Apple disagrees, and says it will appeal today's ruling. The lawsuit was filed last year against Apple and major publishers. The government previously reached settlements with five publishers.

CHICAGO (AP) -- Tribune Co. wants to split its broadcasting and publishing businesses into two companies. It says the move will let one company take advantage of growth in broadcasting while the other focuses on newspapers, where revenue has been falling. The Chicago-based company owns 23 TV stations and cable network WGN America, along with the Chicago Tribune, Los Angeles Times and other newspapers. This month it announced plans to buy Local TV Holdings and its 19 television stations.

WASHINGTON (AP) -- Vice President Joe Biden says China's rise is good for the U.S. and the world but Chinese theft of U.S intellectual property must stop. In his words, the "outright cyber-enabling theft that U.S. companies are experiencing now must be viewed as out of bounds." Biden was speaking today at the opening of the annual Strategic and Economic Dialogue between the two world powers.


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