Biotech, Commodities Lead Dow Retreat
New York — U.S. stocks fell Friday, with the Dow Jones industrial average posting its worst week since January, as biotechnology shares slumped and raw-material producers sank amid fresh signs of a slowdown in China. Biogen lost 22 percent after cutting its 2015 earnings forecast. Raw-material and energy shares in the Standard & Poor’s 500 index fell at least 1.9 percent. Amazon surged 9.8 percent, while Visa Inc. gained 4.3...
Analysts: Gas Prices to Drop to Lowest in 6 Years This Summer
Los Angeles — An ongoing glut of crude oil will give U.S. drivers this summer the lowest seasonal gasoline prices in six years, the government predicts. Even in California — where prices recently surged a dollar above the national average, sparking accusations of collusion by oil refineries — analysts expect gasoline to be the cheapest it’s been in years. Barring a natural disaster or other major supply disruptions, prices in the...
