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Tech shares and flaccid GDP growth push S&P 500 to record

Wall Street rose on Friday, with the S&P 500 index hitting a record intraday high for the seventh time this month as gains in technology heavyweights Alphabet and Amazon more than made up for losses in energy shares.

Recent Business News

Oil rout erodes second-quarter profits for U.S. majors Exxon, Chevron

HOUSTON Chevron Corp posted its worst quarterly loss since 2001 on Friday and Exxon Mobil Corp reported a 59 percent slide in profit, as the long crude price rout and tumbling refining income inflicted pain across the energy sector. | Video

3:05pm EDT

Alphabet and Amazon wind up stellar quarter for big tech

Google parent Alphabet Inc and e-commerce giant Amazon.com Inc capped a blockbuster June quarter for the five biggest U.S. tech companies as their dominance in key markets helped them defy the "law of large numbers".

10:58am EDT

U.S. extends oversight of Fiat Chrysler safety practices by a year

WASHINGTON U.S. auto safety regulators said on Friday they were extending oversight of Fiat Chrysler Automobiles NV for an additional year, requiring the Italian-American automaker to submit to monthly meetings and early disclosures of potential vehicle issues.

3:14pm EDT

Exclusive: California regulator says testing to begin on Volkswagen diesel fix

Volkswagen AG and the California Air Resources Board will begin testing hardware and software that could help the German automaker avoid buying back as many as 475,000 diesel cars sold in the United States with improperly designed pollution controls, the head of the board told Reuters.

1:41pm EDT

Fed's Williams downplays GDP weakness, sees rate hikes

CAMBRIDGE, Mass. The Federal Reserve could raise interest rates up to two times before year end, a top Fed official said on Friday as he downplayed data that showed the U.S. economy grew far less than expected in the last quarter.

12:35pm EDT

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