Stocks head lower...Oil gains...Mills leaving SBA post

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Associated Press

Posted on February 11, 2013 at 6:02 PM

NEW YORK (AP) — Stocks drifted lower in thin trading today. The Dow closed down 22 points to close at 13,971. The S&P 500 slipped one point to 1,517 and the Nasdaq composite fell two points to 3,192. The S&P's drop comes after the broad-market index edged up slightly last week to a five-year high.

NEW YORK (AP) — Oil prices are on the rise and so is the price you pay at the pump. The price of oil rose more than $1 today as the euro strengthened against the dollar. Benchmark oil gained $1.31 to finish at 97.03 on the New York Mercantile Exchange. The national average of a gallon of gasoline is now at $3.59, up from $3.31 a month ago.

WASHINGTON (AP) — President Barack Obama has yet another Cabinet-rank job to fill at the start of his second term as Karen Mills is leaving her post as head of the Small Business Administration. She has served as the SBA administrator since 2009. Obama credits her with helping businesses recover from the damaging recession.

WASHINGTON (AP) — A government study says one in four consumers found an error in a credit report issued by a major agency. The Federal Trade Commission study also says that 5 percent of the consumers identified errors in their reports that could lead to them paying more for mortgages, auto loans or other financial products.

ATLANTIC CITY, N.J. (AP) — One New Jersey casino is making it possible for guests to avoid the casino and gamble from the comforts of their hotel room. The Borgata Hotel Casino & Spa in Atlantic City says it will become the first casino in the U.S. to let guests gamble over hotel room TV sets beginning Feb. 18. Slots and four kinds of video poker will be the first games offered.

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