Stocks stage late rally after down day
NEW YORK, Dec. 13 (UPI) -- U.S. stock indexes staged a late rally Thursday after mixed economic reports kept the market in the red much of the day.
The late surge followed an unexpectedly strong retail sales report that coincided with the biggest jump in wholesale prices in more than 34 years.
The Dow Jones industrial average closed up 44.06 points, or 0.33 percent, at 13,517.96. The Standard and Poor's 500 Index was up 1.82, or 0.12 percent, at 1,488.41. Only Nasdaq among the big 3 indexes failed to make it to the plus side, dropping 2.65 points, or 0.10 percent, to close at 2,668.49.
Volume on the New York Stock Exchange was 463 million shares traded with 568 advancing and 2,490 declining.
Bonds dropped. The 10-year Treasury note fell 17/32, or $5.31 per $1000 invested, to yield 4.155 percent Thursday.
The dollar gained. The euro traded at $1.4666 from $1.4709 late Wednesday, while the dollar changed hands at 112.28 yen from 112.17 yen.
Oil falls more than $2 a barrel
NEW YORK, Dec. 13 (UPI) -- Crude oil futures dropped $2.14 Thursday and closed at $92.25 a barrel at the New York Mercantile Exchange, one day after rallying for almost twice that much.
Earlier prices fell to an intraday low of $91.85.
Natural gas tumbled 22.9 cents to close at $7.179 per million British thermal units.
Heating oil was down 2.85 cents to $2.6147 a gallon. Reformulated gas was down 3.84 cents to $2.3744 a gallon.
The price at the pump for an average U.S. gallon of regular unleaded gasoline was $2.985, down a fraction from Wednesday, the AAA said.
Calif. accuses Blue Shield of misdeeds
LOS ANGELES, Dec. 13 (UPI) -- California has accused Blue Shield, one of the state's largest healthcare plans, of 1,262 violations that cost more than 200 people their medical coverage.
State Insurance Commissioner Steve Poizner said he would seek a $12.6 million fine against the insurer, the Los Angeles Times reported Thursday.
He called the allegations "serious violations that completely undermine the public's trust in our healthcare delivery system and are potentially devastating to patients."
State insurance and HMO regulators reportedly have been critical of the way some health plans cancel individual policies after receiving claims for costly medical care.
Blue Shield called the charges "grossly unfair" and vowed to vigorously contest them and the proposed fine.
Nintendo Wii tops online shoppers' list
NEW YORK, Dec. 13 (UPI) -- Nintendo Wii remained atop America's most wanted holiday gifts among online shoppers, according to a survey of 100 retail Web sites.
Hitwise Index Chart figures indicate Wii searches increased 274 percent over last week. Uggs and Apple's iPod products are also among the top product searches this season.
Other hot products searched for from the Electronics category include digital picture frames, the Nintendo DS, Xbox 360 and Sony PSP. Within the Toys and Hobbies category, the hot products were traditional favorites like Barbie, Build a Bear and Legos along with Transformers, Airsoft Guns and Hot Wheelz.
The top searches from a custom category of 65 luxury retail Web sites included Uggs, Coach purses, Coach handbags and True Religion jeans.
