Business Briefs – August 7, 2017

Another Milestone for Stocks: Most Boring Market In Decades

NEW YORK (AP) – This year’s run to a record for the stock market has been one of the least eventful in decades.

The last time stocks sailed through such an uneventful first seven months was when a group of burglars was arrested for breaking into the Watergate complex in 1972. Broaden the scope to include when the S&P 500 fell or rose by 1 percent in a day, and this could be the least volatile year for stocks since 1964, if the current pace holds.

But as central banks start to wean markets off the stimulus they’ve injected into the global economy, many money managers say they’re preparing for a bumpier ride ahead.

U.S. Consumer Credit Rose At Slower Pace in June

WASHINGTON (AP) – American consumers increased their borrowing at a slower pace in June as the category that includes auto and student loans posted the smallest gain in a year. The Federal Reserve says overall consumer credit rose by $12.4 billion in June, down from May’s $18.3 billion increase.

Poached Eels: U.S. Strikes at Illegal Harvests as Value Grows

BREWER, Maine (AP) – Changes in the worldwide fisheries industry have turned live baby American eels into a commodity that can fetch more than $2,000 a pound at the dock. But the big demand and big prices have spawned a black market wildlife officials say is jeopardizing the species. Authorities have launched a crackdown on unlicensed eel fishermen and illicit sales along the East Coast. Baby eels are often sold to Asian aquaculture companies to be raised to maturity and sold to restaurants.

Teen Named 1st American World Champion at Excel Spreadsheets

DUMFRIES, Va. (AP) – John Dumoulin has never really set foot in an office. He works part time at Chick-fil-a. But the 17-year-old is the undisputed king of that bane to office workers everywhere — the spreadsheet. Dumoulin, a rising senior at Forest Park High School in Woodbridge, won an international competition on Microsoft Excel 16 proficiency, earning $10,000 in prize money along the way.