Monday's Bloomberg Report

By: Dina Gusovsky Email
By: Dina Gusovsky Email
  • Dow Jones Industrials: Up 77.98 to 13,515.11
  • S&P 500: Up 3.82 to 1,444.49
  • NASDAQ: Down 2.70 to 3,113.53

In Monday's Bloomberg Report: an economic growth spurs an increase in oil prices and Google claims a big victory over a competitor.

Crude oil hit a one-week high Monday; at one point, rising above $93 a barrel. The increase is blamed on news that US manufacturing unexpectedly grew in September. There is also speculation that the European debt crisis is coming closer to an end.

Those factors also lifted stocks to gain, but the rally faded a bit on a retreat in technology shares led by Apple.

Shares of Google rose and the company passed Microsoft to become the world's second-largest technology company. While Google is now worth more than Microsoft in terms of the total value of its stock, Apple is the world's most valuable at about $618 billion.

American Express will pay more than $100 million to settle claims it violated consumer protection laws, including deceiving customers about one of its cards and discriminating against some older applicants.

Under the agreement, American Express will refund about $85 million to customers and pay civil penalties of nearly $30 million.

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