Stocks rally on strong economic data ahead of Fed meeting
U S stocks edged higher amid positive data as construction spending jumped 1.5 percent in March to a record 944.1 billion. ISM manufacturing growth remained solid in April despite higher input costs. Dow rose 88.43 to 10314, S P 500 up 10.19, Nasdaq up 18.57, traders wary of Fed stance. Most expect a rate hike by August to curb inflation.
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Cracker Barrel Agrees to End Racial Bias Practices
The Justice Department and Cracker Barrel reach a consent decree over alleged Civil Rights Act discrimination. Black customers faced segregated seating and slower, poorer service at many Southeast outlets. Cracker Barrel will implement changes but does not admit wrongdoing and will pay no fines.
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Oil price hits highest level since October 1990
Oil rose to its highest price in over 13 years after the weekend killing of five Western workers at ABB Lummus Global in Saudi Arabia. June crude settled at $38.22 a barrel, gasoline futures at a record. Analysts cite Middle East fears and tight supplies as drivers of the rally.
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Nymex
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