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FedEx Corp. said late Friday the U.S. Justice Department has dismissed criminal charges against the logistics company stemming from its dealings with internet pharmacies. “The case should never have been brought. The government should take a very hard look at how they made the tremendously poor decision to file these charges. Many companies would not have had the courage or the resources to defend themselves against false charges,” FedEx said in a statement. The Justice Department alleged FedEx delivered packages from the online pharmacies even after authorities cracked down on the online businesses and after knowing the drugs were illegally prescribed. The company argued it couldn’t police its millions of packages for those that might contain illegal items. Shares of FedEx were flat in late trading after ending the regular trading session up 0.2%.

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From:: Stock Market News

U.S. stocks finished lower Friday, With the S&P 500 and Nasdaq Composite logging their largest weekly drops since late April, as the looming “Brexit” vote in the U.K. and lingering worries about the Federal Reserve’s reluctance to raise interest rates weighed on shares. The S&P 500 shed 6.78 points, or 0.3%, to 2,071.21, with health-care and technology shares leading the index lower. The Dow industrials slid 58.96 points, or 0.3%, to 17,674.14. Merck & Co. and Apple Inc. were the two biggest decliners on the blue-chip gauge. For the Dow, it was the largest drop since mid-May. The Nasdaq Composite shed 44.58 points, or 0.9%, to 4,800.34.

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From:: Stock Market News

Oil futures climbed on Friday, buoyed by weakness in the U.S. dollar as some concerns over the potential for the U.K. to exit the European Union eased. Prices for the week, however, declined on signs of a possible recovery in crude production. Baker Hughes on Friday reported a third-straight weekly climb in the U.S. oil-rig count. July WTI crude settled at $47.98 a barrel on the New York Mercantile Exchange, up $1.77, or 3.8%, for the session. It lost 2.2% for the week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Oil futures climbed on Friday, buoyed by weakness in the U.S. dollar as some concerns over the potential for the U.K. to exit the European Union eased. Prices for the week, however, declined on signs of a possible recovery in crude production. Baker Hughes on Friday reported a third-straight weekly climb in the U.S. oil-rig count. July WTI crude settled at $47.98 a barrel on the New York Mercantile Exchange, up $1.77, or 3.8%, for the session. It lost 2.2% for the week.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Gold futures settled lower on Friday, pulling back after gains over the past seven sessions in a row. But prices still tallied a climb of about 1.5% for the week ahead of next week’s U.K. referendum on whether to leave or stay in the European Union. August gold settled at $1,294.80 an ounce, down $3.60, or 0.3%, for the session.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News