Wall Street rebound; gas prices jump; new owner at LEO - WDRB 41 Louisville News

Wall Street rebound; gas prices jump; new owner at LEO

Wall Street tried to rebound from two days of steep losses on Thursday.  Oil hit another record high $135 Thursday morning.

But news of fewer workers filing for unemployment last week got investors going.

The Dow was up 24.43 points to close at 12,625.  The Nasdaq also closed up 16.31 points at 2,464.

The national average for gas has jumped again, but it's still cheaper than prices in the Louisville area.  Stations here are selling gas for around $4 a gallon.  But the national average for a gallon of regular unleaded is $3.83.

Gas prices are about 60 cents higher than they were last year.  Concerns about falling supplies and rising demand for oil are expected to keep propelling prices even higher in the days and weeks to come.

Those high fuel prices are causing big changes in the sky.  American Airlines says, starting June 15th, it's going to charge passengers $15 to check a single piece of luggage.

American says rising oil prices are adding nearly $3 billion a year to its fuel bill. Besides charging more for bags and other services, the airline says it's going to slash capacity and retire at least 75 older, gas-guzzling planes. Thousands of workers are likely to get layoff notices.

An alternative weekly newspaper in Louisville has a new owner.  The Louisville Eccentric Observer has been bought by Tennessee-based media and publishing company SouthComm Communications.

Leo was founded ten years ago by John Yarmuth to provide news and commentary on current affairs.  It's also a guide to local entertainment.

The paper is distributed for free at more than 850 locations in Louisville and southern Indiana.

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