Stocks take small bounce after losses
U.S. stocks inched higher Monday, as the Standard & Poor's 500 index steadied following back-to-back losses the last two weeks. This week may be a calmer one for the stock market, after an uncharacteristically bumpy stretch shook what had been an incredibly smooth ride higher for stocks this year. The S&P 500 rose 2.82 points, or 0.1 percent, to 2,428.37. The Dow Jones industrial average gained 29.24, or 0.1 percent, to 21,703.75, and the Nasdaq composite slipped 3.40 points, or 0.1 percent, to 6,213.13. "One of the reasons the market has held in and performed well recently — although it's wobbled a bit in the last two weeks — has been earnings," said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. "Without the earnings that we saw, it would have been a much more difficult period of time for the market."
Record $417M settlement in talcum suit
A Los Angeles jury on Monday ordered Johnson & Johnson to pay a record $417 million to a hospitalized woman who claimed in a lawsuit that the talc in the company's iconic baby powder causes ovarian cancer when applied regularly for feminine hygiene. The verdict in the lawsuit brought by the California woman, Eva Echeverria, marks the largest sum awarded in a series of talcum powder lawsuit verdicts against Johnson & Johnson in courts around the U.S. Johnson & Johnson spokeswoman Carol Goodrich said in a statement that the company will appeal the jury's decision.
Former GE CEO in running to run Uber
Former General Electric CEO Jeffrey Immelt is among the finalists being considered to run ride-hailing company Uber, but there's no clear consensus among its board about a front-runner, two people briefed on the search said Monday. The sources said some board members want to fill the position quickly to bring stability to the company, which has been plagued by missteps that caused co-founder and CEO Travis Kalanick to step down in June. Others want to wait and keep looking for CEO candidates. Both people said a Labor Day timeline for filling the job is possible but not entirely firm.