AC/DC guitarist Malcolm Young dead at 64

Malcolm Young, co-founder of the legendary Australian rock group AC/DC, died Saturday at the age of 64. Young had been battling dementia for the past three years and died peacefully with family nearby, according to a statement released on Facebook. Young formed AC/DC with his brother Angus in 1973 and was the writer and driving force behind many of the band’s best-known songs, including “Highway to Hell,” “Back in Black” and “You Shook Me All Night Long.”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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Franken has admitted wrongdoing, but Trump hasn’t, White House says in explaining tweet

President Donald Trump feels it’s up to Alabama’s governor to make a decision about delaying next month’s special election in which Roy Moore is running, White House press secretary Sarah Huckabee Sanders said Friday. Sanders was asked repeatedly by reporters about Moore, who has been accused of sexual misconduct. She also dismissed a question about why allegations against Sen. Al Franken are worthy of an investigation but those against Trump aren’t. “Sen. Franken has admitted wrongdoing and the president hasn’t,” she said. 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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Stock market ends slightly lower on tax plan uncertainty

U.S. stocks finished modestly lower Friday, with the S&P 500 and Dow industrials marking a second week of declines as investors weighed prospects for corporate tax cuts and assessed another round of corporate earnings. Preliminary figures showed the S&P 500 ended 0.3% lower, while the Dow declined around 100 points, or 0.4%. The Nasdaq Composite Index , which closed at a record on Thursday, shed 0.2%. For the week, the S&P posted a weekly loss of 0.1%, while the Dow declined 0.3%. The Nasdaq, however, saw a 0.5% weekly rise.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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Pepsi raises dividend 7% to 80.5 cents

PepsiCo Inc. said late Friday its board of directors declared a quarterly dividend of 80.5 cents a share, a 7% increase compared with the comparable year-earlier period. The move is consistent with PepsiCo’s previously announced increase in its annualized dividend to $3.22 a share, from $3.01 a share, which began with the June payment, the company said. The dividend is payable on Jan. 8 to shareholders of record on Dec. 1. Shares were flat in after-hours trading after ending the regular session down 0.5%. 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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Trump adds five names to list of Supreme Court candidates

President Donald Trump has added five names to the list of people he would consider nominating to the Supreme Court, the White House said Friday. They are Amy Barrett, a judge of the U.S. Court of Appeals for the Seventh Circuit; Britt Grant, a justice of the Georgia Supreme Court; Brett Kavanaugh, a judge on the U.S. Court of Appeals for the District of Columbia Circuit; Kevin Newsom, a judge of the U.S. Court of Appeals for the Eleventh Circuit; and Patrick Wyrick, a justice of the Oklahoma Supreme Court. They join 20 other individuals on Trump’s list. 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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U.S. oil prices climb by nearly 3%, but still post a loss for the week

Oil prices rallied Friday, scoring a gain of nearly 3%, but they still finished about 0.3% lower for the week to mark their first weekly loss in six. The market has found support from expectations that the Organization of the Petroleum Exporting Countries will extend its production-cut pact when it meets on Nov. 30, but concerns linger over growing U.S. production. December West Texas Intermediate crude climbed by $1.41, or 2.6%, to settle at $56.55 a barrel on the New York Mercantile Exchange.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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API report shows U.S. crude output climbed to highest October level in 45 years

U.S. crude-oil production rose 7% in October, from a year earlier, to average 9.4 million barrels a day, according to a monthly report Friday from the American Petroleum Institute, a trade group. That was the highest October output since 1972. Production has now held above 9 million barrels for nine months in a row, the report said. Meanwhile, total petroleum deliveries, an implied demand indicator, climbed by 1.1% in October from a year earlier to average 19.9 million barrels a day–the highest October deliveries in 10 years. Ahead of the news, December West Texas Intermediate crude rose $1.41, or 2.6%, to settle at $56.55 a barrel on the New York Mercantile Exchange, with prices buoyed by expectations that the Organization of the Petroleum Exporting Countries will extend their output-cut agreement when members meet on Nov. 30 in Vienna.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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Gold prices rally toward $1,300 to finish at a more than 1-month high

Gold prices rallied Friday to settle at their highest level in more than a month, up nearly 1.8% for the week. Prices for the precious metal got a boost as the U.S. dollar fell on concerns surrounding U.S. special counsel Robert Mueller’s probe into Russian interference in the U.S. president election. The ICE U.S. Dollar Index fell 0.3% in Friday trading, set for a weekly loss of 0.8%. December gold climbed $18.30, or 1.4%, to settle at $1,296.50.70 an ounce, the highest finish since Oct. 16, according to FactSet data.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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Baker Hughes reports no change to weekly U.S. oil-rig count

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil was unchanged at 738 this week. The figure had climbed by 9 rigs last week. The total active U.S. rig count, which includes oil and natural-gas rigs, climbed by 8 to 915, according to Baker Hughes. December West Texas Intermediate crude was up $1.24, or 2.3%, from Thursday, to $56.38 a barrel, continuing to find support from expectations that OPEC will agree to extend its production-cut pact when it meets later this month. Prices traded at $56.42 shortly before the rig data.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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Apple delays HomePod smart speaker for unknown reasons

Apple Inc. has delayed its HomePod smart speaker until next year, according to multiple media reports Friday. Apple stock is down a fraction to $170.44 in afternoon trading. “We can’t wait for people to experience HomePod, Apple’s breakthrough wireless speaker for the home, but we need a little more time before it’s ready for our customers,” Apple said in a statement to tech blog The Verge. “We’ll start shipping in the U.S., U.K. and Australia in early 2018.” The company did not provide a specific reason for the delay, the media reports said. In June, executives announced the $349 HomePod, which was expected to ship in December, ahead of the holiday shopping season. Apple stock is up 47% this year, with the S&P 500 index up 16%. The Dow Jones Industrial Average , of which Apple is a component, is up 18%.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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