U.S. stocks close higher as data bypassed in favor of crude

Date: Thu, 14 Aug 2008 17:04:24 -0400

U.S. stocks close higher as data bypassed in favor of crude

U.S. stocks snap back after two days of losses, with the financial
sector fronting the gains, as investors brush aside negative economic
data and focus on recent dips in commodities' prices.

Former Apple general counsel settles backdating charges with SEC

SAN FRANCISCO
Nancy Heinen, the former general counsel of Apple Inc., reached a
settlement deal Thursday with the Securities and Exchange Commission
over charges related to the backdating of stock options at the consumer
electronics giant.

Auction-rate settlements lift mortgage and bond insurers

Shares of PMI Group Inc rose more than 50% Thursday lifting rivals in
the private mortgage insurance business and insurers of municipal bonds
and credit derivatives also rallied as the market reckoned that recent
settlements in the auction rate securities market would take pressure
off them.