Stocks close higher on news of Greek deal, jobless report

NEW YORK – U.S. stocks closed higher for a third day Thursday, after Greece said it had an austerity deal and jobless claims fell again last week.

Bumping up against recent highs, the Dow Jones industrial average closed at its highest since May 19, 2008; the S&P 500 index ended at its loftiest level since July 7, 2011; and the Nasdaq composite index ended at its highest close since Dec. 12, 2000.

Heavily influenced by technology shares, the Nasdaq composite in particular was lifted Thursday by Apple Inc., up 3.5 percent to $493.17, a record, after a report said the company will introduce its next-generation iPad tablet in early March. The website AllThingsD said the new tablet is expected to have a quicker processor and better display resolution.

The Dow Jones industrial average rose 6.51 points, or 0.1 percent, to 12,890.46. The S&P 500 added 1.99 points, or 0.2 percent, to 1,351.95, with technology the best performing and health care hardest hit among its 10 sectors. The Nasdaq composite climbed 11.37 points, or 0.4 percent, to 2,927.23.

Survey indicates U.S. users want to get rid of Timeline

ORLANDO, Fla. – As Facebook continues to roll out Timeline, its boldest layout change, most users — at least those in the United States — made it clear they are not pleased, a new poll by SodaHead shows.

SodaHead, an online community that has content on technology, business, movies, celebrity gossip, and politics among other topics, polled 1,327 online users in January, when Facebook announced it would unleash the massive overhaul “within a few weeks.”

The poll showed 70 percent of Facebook users want the social network to dump Timeline, while only 20 percent said they liked it. A total of 30 percent of Facebook users between the ages of 18-24 were receptive to the change.

The dislike for Timeline was equal across both genders. A total of 77 percent of men and women said they did not like Timeline.

But the poll showed that most users outside the United States are more likely to adopt Timeline without much fuss.

Small cattle herd will mean higher beef prices ahead

LUBBOCK, Texas – The smallest cattle herd since the 1950s likely will mean higher beef prices at the supermarket for the next two years.

Experts said beef prices could climb as much as 10 percent a year in 2012 and 2013, and the increase could be even greater if demand from other countries increases.

Those higher prices would follow steady increases that have seen the average retail cost of a pound of hamburger rise 23 percent, from $2.38 in December 2010 to $2.92 last December, according to the U.S. Department of Agriculture.

Last month the USDA reported the U.S. herd had declined to 90.8 million cattle, 2 percent less than the previous year and the lowest inventory since 1952, when there were 88.1 million.

“We’re producing less beef so prices are going to go up,” Texas AgriLife Extension Service livestock economist David Anderson said.

— From news service reports