NEW YORK -- A deal to forge stronger ties between most of Europe's economies sent stocks sharply higher Friday as hopes grew that the region is close to resolving its debt crisis.
All 17 nations that use the euro agreed to a treaty allowing a central authority more oversight of their budgets. Nine other EU nations are considering it. Britain is the lone holdout.
It was the second consecutive week of gains for the three main U.S. indexes. The increases were broad. DuPont was the only stock among the 30 in the Dow Jones industrial average to fall. It slid 3.2 percent after saying earnings this year will fall short of forecasts because of weak demand for electronics and industrial supplies.
Incentives for Amazon's 2nd S.C. warehouse OK'd
SPARTANBURG -- Spartanburg County Council has approved an incentives package to a new Amazon warehouse. The county will give the retail giant a 6 percent fee-in-lieu-of-taxes agreement for 30 years, and will widen the street where the new million-square-foot distribution center will be built.
Amazon could break ground before the end of the year. The $50 million warehouse should bring in about 400 full-time jobs, and more during season peaks. Amazon built its first South Carolina warehouse in Lexington County this year.
U.S. trade deficit narrows in October, extending streak
WASHINGTON -- The U.S. trade deficit narrowed in October to its lowest point this year as Americans bought fewer foreign cars and imported less oil. But economists worry that the trend could reverse itself, especially if Europe's economic crisis worsens.
The Commerce Department said Friday the deficit shrank 1.6 percent to $43.5 billion. It was the fourth straight monthly decline.
Wal-Mart investigating its overseas operations
BENTONVILLE, Ark.-- Wal-Mart has opened an internal investigation to determine whether its overseas operations have complied with U.S. federal law as it pertains to permitting, licensing and inspections. The world's largest retailer offered few details.
It said it opened the investigation after reviewing policies and procedures tied to its global anti-corruption program. It said it is taking "appropriate remedial measures."
All companies operating overseas must comply with the U.S. Foreign Corrupt Practices Act, which deals with bribery and accounting rules.
Ford issues recall for cars with defective wheel bolts
DETROIT -- Ford is recalling more than 128,000 Ford Fusion and Mercury Milan sedans from the 2010 and 2011 model years because the wheels can fall off the cars.
The recall affects cars with 17-inch steel wheels built from April 1, 2009, through April 30, 2009, and from Dec. 1, 2009, through Nov. 13, 2010.
Regulators said bolts holding the wheels on can fracture, causing a vibration. If ignored, the wheels can separate from the car. Ford said it is unaware of crashes or injuries caused by the problem.
Dealers will replace the lug nuts on all four wheels and check the rear disc brake surface. The recall is expected to begin around Jan. 24.
Costco's first-quarter profit increases 2.6 percent
ISSAQUAH, Wash. -- Costco Wholesale Corp. said Thursday its fiscal first-quarter profit rose 2.6 percent to $320 million as shoppers spent more on gasoline and the company benefited from currency exchange rates. Costco has performed better than many retailers in the down economy.