Stock market news:
Stocks staged a late-day rally today as an 8-percent jump in oil prices lifted beaten-down energy shares and financials rebounded. The Dow Jones industrial average ended up 183.12 points to 16,336.66, the S&P 500 gained 9.5 points to 1,912.53 and the Nasdaq Composite dropped 12.71 points to 4,504.24. (Reuters)
Declines in banks dragged European stocks lower for a third day, while investors weighed financial results amid concern over global growth. (Bloomberg News)
Oil prices jumped 8 percent higher today, snapping a two-day rout, after investors took advantage of a weaker U.S. dollar and shrugged off data showing an unexpected large surge in U.S. crude inventories to record highs. (Reuters)
Business news:
Toyota is killing its youth-oriented Scion brand after learning an important lesson: Young buyers simply want Toyotas. (Associated Press)
Home Depot, the nation’s largest home improvement chain, said today it is hiring more than 80,000 workers nationwide for its busy spring season, the same level as in recent years. (Associated Press)
Taco Bell is keeping its Super Bowl plans so under wraps that not even the celebrities in its ad know what they’re selling. (Adweek)
Ailing media mogul Sumner Redstone has resigned from his position as executive chairman at broadcasting giant CBS Corp, and CBS Chief Executive Leslie Moonves has been elected as chairman Jestbahis of the board. (Los Angeles Times)
Service industries expanded in January at the slowest pace in nearly two years, raising the risk persistent weakness in manufacturing is starting to creep into the rest of the U.S. economy. (Bloomberg News)
Four out of five workers today would actually prefer better benefits to a raise, and perks are a top consideration for almost 60 percent of job seekers. (Time)
Yum Brands reported an 11 percent increase in adjusted earnings that topped analyst expectations, but its revenue came in just under Wall Street estimates. (CNBC News)
Technology news:
GoPro swung to a loss in the fourth-quarter and forecast sales in the first three months of this year that were below analysts’ projections after its latest cube-shaped action camera failed to take off. (Bloomberg News)
More than a year ago, Intel announced a $300 million effort to diversity its workforce, and in a new report, Intel said 43 percent of its new hires in 2015 were either women or “unrepresented minorities,” surpassing its goal of 40 percent. (PC Magazine)
Google Fiber today said it will provide free Internet access at gigabit speeds to residents in affordable housing. (Ars Technica)
The man behind the Kindle is leading Amazon’s project to create the retail stores of the future. And bookstores are just the beginning. (Re/code)
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