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Stocks on the rise...Chrysler to recall Jeeps...Obama hints it's Bernanke's last term

Tuesday - 6/18/2013, 4:00pm  ET

NEW YORK (AP) -- Reports of gains in home construction and low inflation have stocks rising on Wall Street. Traders are also expecting the Federal Reserve to continue its programs aimed at propping up the economy. The Fed wraps up a two-day meeting tomorrow.

DETROIT (AP) -- Chrysler now says it will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire. Earlier this month the company refused the government's request to recall 2.7 million Jeep Grand Cherokees from model years 1993 through 2004 and Jeep Libertys from 2002 through 2007. Chrysler maintains the vehicles aren't defective, but says in a statement that dealers will inspect the vehicles and upgrade the rear structure if needed to better handle low-speed crashes.

WASHINGTON (AP) -- President Barack Obama has given the clearest signal yet that Chairman Ben Bernanke will likely leave the Federal Reserve when his term ends in January. Asked whether he would reappoint Bernanke to a third four-year term, Obama told PBS' Charlie Rose that the Fed chief has "already stayed a lot longer than he wanted or he was supposed to." Obama also said Bernanke has done "an outstanding job."

SUNNYVALE, Calif. (AP) -- Yahoo is the latest company to disclose how many requests for user data it has received from U.S. government agencies. It puts the number between 12,000 and 13,000 in the six months that ended on May 31, mostly related to criminal investigations. Internet companies have asked the government for permission to share how many requests they receive related to national security and how it handled them.

MILAN (AP) -- European car sales had their worst May in 20 years as the region's recession drags on. The European automakers' association says passenger car demand dropped by 5.9 percent from May of last year in the 27-country European Union to the lowest level for the month since 1993. For the first five months of the year, sales dropped 6.8 percent.


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