Business Highlights

Weak dollar no quick fix for narrowing trade gap

WASHINGTON (AP) — A weaker dollar may boost the nation's economy by increasing exports and narrowing the trade gap — but that won't happen anytime soon.

Instead, the nation's trade deficit rose in September by the largest percentage in a decade as U.S. exports grew for the fifth straight month, but imports rose faster, a government report showed Friday. That trend is likely to continue until the middle of next year, economists said.

Rising oil prices and higher purchases of foreign goods by U.S. companies drove imports higher. So did more purchases of foreign parts by U.S. manufacturers, which are ramping up production in the fledgling economic recovery.

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Earnings reports push stocks higher; Dow gains 73

NEW YORK (AP) — Encouraging earnings news from major retailers and The Walt Disney Co. drew investors back into the stock market one day after a big drop.

Upbeat quarterly reports Friday from Abercrombie & Fitch Co., J.C. Penney Co. and Disney offset worries about a disappointing consumer confidence report. The Dow Jones industrial average gained 73 Friday after dropping 94 on Thursday.

The market briefly stumbled in morning trading after a report found the mood of consumers darkened. The preliminary Reuters/University of Michigan consumer sentiment index for November came in at 66.0, down from 70.6 in October. That made investors nervous that cautious consumers wouldn't step up spending at the holidays.

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FDA finds bits of steel, rubber in Genzyme drugs

WASHINGTON (AP) — Federal health regulators have found tiny particles of trash in drugs made by Genzyme, the second time this year the biotechnology company has been cited for contamination issues.

The Food and Drug Administration said Friday that bits of steel, rubber and fiber found in vials of drugs used to treat rare enzyme disorders could cause serious adverse health effects for patients.

Despite those problems, the FDA said the products would remain on the market, because there are few alternative treatments.