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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 29, 2009
Page
8
Stocks rise as shoppers spend more and rising commodity prices push markets to a sixth straight gain and new 2009 highs. The Dow climbs 26.98 to 10,547.08, the S P 500 up 1.30 to 1,127.78, and the Nasdaq adds 5.39 to 2,291.08.
Retailers report thin inventories after Christmas as spending climbs about 1 percent when adjusted for an extra shopping day. MasterCard Advisors SpendingPulse tallies show a 3.6 percent rise from Nov 1 to Dec 24 versus last year, beating analysts’ flat forecast.
Oil prices rose above 79 dollars per barrel as a cold snap extended into year end. Benchmark crude for February delivery added 0.72 to settle at 78.77 dollars, signaling renewed energy futures activity.
Billion Automotive purchases GMC Buick Community Motors and McEleney Autoplex and later Chezik-Bell Honda in Iowa City under Billion Hawkeye. The trio joins existing site to form 14 dealerships for the Sioux Falls based family company.
Bochner Confections licenses Hawkeye and Cyclone branded milk chocolate bars and tasting squares to fund university programs. Hy-Vee and Fareway stock the 99 cent All Star bars and 5.99 tasting squares, with licenses extending to Nebraska Michigan Wisconsin and Missouri in future plans.
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