Dow tops 22 000 as stocks ride long bull market
The Dow Jones closed above 22,000 in a record run, aided by robust corporate profits, low rates, and global growth. Boeing led gains, contributing about 45 percent of the index rise, while analysts note dollar weakness boosts overseas earnings. Wealthier investors benefit most, while about half of Americans have no stock market investments.
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Adidas to close Cedar Rapids office affecting 120 jobs
Adidas Group will shutter its Cedar Rapids location by year end as it divests from NBA licensed business and from Mitchell and Ness. About 120 employees will lose their jobs as the site, previously Valley Apparel, prints and ships T shirts. The Cedar Rapids plant is on 32nd Street SW.
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EPA rejects Icahn backed biofuel plan overturning blending shift
EPA will block a proposal backed by Carl Icahn and several refiners to alter the Renewable Fuel Standard. The decision preserves existing policy requiring blending of biofuels with gasoline and diesel, a win for ethanol producers and a setback for independent refiners like CVR Energy and Valero.
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