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Stocks flat as oil rises
Some highlights from the day's business news:
Stocks little changed as oil rises again
U.S. stocks ended Thursday's session mostly flat, erasing earlier losses as commodities and energy stocks climbed higher. The gains in oil - it went over $108 a barrel -Â offset weakness in the banking and technology sectors.
The Dow Jones industrial average rose 14 points, or 0.1%, to 12,285. The Dow was down as many as 107 points earlier in the session.
The S&P 500 was effectively flat, closing at 1,315; and the tech-heavy Nasdaq Composite fell a point, or 0.1%, to 2,760.
Financial shares were the biggest laggard Thursday after the Senate issued a report late Wednesday that slammed Goldman Sachs as a "case study" of the recklessness and greed that set off the 2008 financial crisis.
Google's profit up 17% but misses Street's expectations
Google Inc. on Thursday reported a quarterly profit that rose from year-ago results but missed Wall Street's forecasts.
Shares of Google dropped 5% after hours.
The world's online search leader said its net income in the first quarter rose to $2.3 billion, or $7.04 per share, up 17% from a year earlier.
Debt panel co-chairman: Obama's plan 'solid'
Two key players in the debate over how to get the nation's fiscal act together have offered their support for President Obama's plan to bring down deficits.
"I think he's come out with a solid, responsible plan," said Erskine Bowles, co-chair of the National Commission on Fiscal Responsibility and Reform. "While it doesn't have as much deficit reduction as quickly as we do, he does get to $4 trillion worth of deficit reduction."
Bowles and his fellow co-chairman, Alan Simpson, met with Obama at the White House on Thursday. In December, their bipartisan commission, which Obama ordered up last year, outlined a wide range of controversial spending cuts and tax changes that would slash $4 trillion in deficits over the next 10 years.
Obama unveiled his long-awaited deficit reduction plan Wednesday, calling for a mix of spending reductions and tax hikes. The plan, which sets a debt-reduction target of $4 trillion over 12 years, incorporates some of the recommendations made by the bipartisan commission in December.
- CNNMoney.com contributing writer Ken Sweet and staff writers David Goldman and Ben Rooney contributed to this report.
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@cnnbrk on Twitter
your little bo peep diploma is worth 100 hours a week.. Triple all spending now.
Who wants some Mrs. But – tersworth maple syrup with fried chicken . !
Who wants some Mrs. but – tersworth maple syrup poured over some seedless watermelon slices.!?
Who wants some Louisiana Hot sauce poured over a couple of my homemade Waffle cakes
Landsakes..they are at my door... .!
@ death panel get away from the fu – kken door and quit tweeken and get your ass to bed you've been up way to many days . And step away from the dam blinds !!!
My bad.. it was just a couple of door to door maple syrup sales gals... .
Dont make me have to kik their ass's nobody makes maple syrup like my mrs. But – tersworth brand !! NOBODY ... !!! And if you dont believe me then i will come over to your house in the middle of the night and pour syrup all over your face while you are sleeping.... !!!! b***h !!!!
All this sweet talk is making me hungry..Cant wait for breakfast,I'm having me some pigs in a blanket... .
Pig in a blanket. Mmmmmm
A$$ in blanket
Hey loser get off the mf blogs and go back to the hole you came out of!!!!!!!!
On a long drive we.. Sleep. On a long flight I sleep.. Truckers sleep.. Cops sleep on the night shift. Incidents double in 2010 but those long hours of no supervision.. where one m.c.i. Guy sleeps.. Or the local ports.. NO BIG DEAL sleep is good for keeping your attention level sharp.. Right? Aviation remains the number one safest travel worldwide..no close second.
1880 incidents.. No big deal. Good thing pilots know how to fly and have socialist tough informed unions unlike the sleeping night shift union cops.
Don't forget that tomorrow is April 15. Please don't buy gas tomorrow. Get it tonight or on the 16th, but stay away from the pumps tomorrow. Maybe we can impact the price of gas and cause the lowering of these ridiculous high prices. Thanks and GOD BLESS AMERICA!
I'm for boycotting gasoline for starters we can call it the petro-party of 2011. This isn't Europe and Americans do not appreciate high gas prices.
Bus it , take the bus. I pay $15 a week. Nice cause I can blog and this to my music.
We arent Europe. As soon as obama figures that out the better. His high speed rail how would that work? Figure time and the vastness of the USA, its a lot larger than Europe. Obama has said gas at 4.00 is ok. got to sell those electric cars.