US durable-goods orders rose in Feb.
US durable-goods orders rose in Feb.
WASHINGTON
Greater demand for commercial aircraft helped U.S. businesses increase their orders for long-lasting manufactured goods in February, but a key category that tracks business investment plans slipped slightly.
The Commerce Department said Friday that orders for durable goods rose 1.7 percent in February and an upwardly revised 2.3 percent in January. Orders so far this year are running 1.6 percent higher than in the first two months of 2016.
The growth indicates that manufacturers are steadily recovering from a rough patch that began in 2015 when lower energy prices and slower economic growth worldwide cut into demand for U.S. factory goods.
The report contained some weakness in a few sectors such as motor vehicles.Stocks wobble, finish mixed
NEW YORK
U.S. stocks flirted with sharp losses but managed a mixed finish after Republicans canceled a vote on their health care bill because it became clear the bill would fail. Hospital stocks soared in response, while companies that stand to benefit from other Trump proposals faltered.
For the second day in a row, stocks started higher and wilted as it became clear the health care bill was in trouble.
The Dow Jones industrial average plunged as much as 126 points in afternoon trading on reports of the bill’s impending failure, although Wall Street cut its losses after the vote was canceled. Consumer-focused companies like Nike, Starbucks and clothing company PVH rose.
The health care act became something of a proxy for the rest of the Trump agenda and it dominated the market for most of this week. It was the worst week for stocks since the week before the presidential election. Banks and small-company stocks, which made huge gains after Trump was elected, both suffered their biggest losses in more than a year.
Feds close probe of Ford SUV door ajar lights without recall
DETROIT
U.S. safety regulators have decided not to seek a recall after investigating complaints that door ajar warning lights won’t turn off on thousands of Ford SUVs.
The probe began in September and found nearly 2,700 complaints and over 33,000 warranty claims due to the problem with the 2011 to 2013 Edge SUV. The complaints included 14 drivers who said doors had opened unexpectedly. Over 440,000 SUVs were covered by the investigation.
But the National Highway Traffic Safety Administration determined the doors were either opened by passengers or were not latched properly. The agency found no unreasonable safety risk because the latches work correctly and no crashes or crash-related injuries were reported.
Ford determined that contamination can build up on switches that activate the door ajar lights, causing them to fail.
Associated Press
Selected local stocks
STOCK, DIVIDENDCLOSECHANGE
Alcoa Inc., .1232.56-0.75
Aqua America, .71 31.850.19
Avalon Holdings,2.35-0.03
Chemical Bank, .2749.62-0.28Community Health Sys. 9.54 0.84
Cortland Bancorp, .2818.25-0.39
Farmers Nat., .1613.30-0.05
First Energy, 1.44 31.3450.14
Fifth/Third, .5224.89-0.17
FirstMerit Corp.,21.610.37
First Niles Financial, .1210.950.95
FNB Corp., .4814.540.07
General Motors, 1.5234.560.30
General Electric, .9229.720.10
Huntington Bank, .28 13.110.09
iHeartMedia Inc.,3.520.07
JP Morgan Chase, 1.9287.29-0.10
Key Corp, .3417.2550.00
LaFarge, .3417.570.00
Macy’s, 1.51 28.18-0.09
Parker Hannifin, 2.52 156.69-1.31
PNC, 2.20119.400.12
Simon Prop. Grp., 6.60167.950.39
Stoneridge 18.210.13
United Comm. Fin., .12 8.22-0.06
Selected prices from Friday’s
4 p.m. close.