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New high for S&P, despite mixed economic news

LORETTA MESTER, PRESIDENT, FEDERAL RESERVE BANK OF CLEVELAND, SPEAKING:

"So by helping policy makers set appropriate monetary policy, the explicit 2% inflation target

promotes not only price stability but also full employment over the longer run."

But for now, consumer are worried about incomes and that put a drag on consumer sentiment in May.

Meanwhile, factory activity in the Midwest surged, confirming a bounce-back from bad weather.

Just days after Apple's big Beats deal, Amazon flexing its music muscles, launching a streaming

music service. Songs will be at least six months old, so it won't really compete with Spotify and

Pandora, but it will be free to its Prime subscribers, taking a bit of the sting out of the recent

price hike. Shares of Amazon however fell on the news.

Ex-Microsoft CEO Steve Ballmer has a $2 billion deal to be the new owner of the Los Angeles

Clippers. Ballmer's record setting bid topped other bids, including one from David Geffen, Oracle

CEO Larry Ellison, and Oprah. The NBA Board of Governors expected to officially OK the deal next

week.

Google began compliance with the "right to be forgotten" ruling in Europe, where the search giant

controls 90% of web searches.

It's made a web form available for citizens wanting request to have objectionable links about them

removed from search results.

French bank BNP Paribas could face a $10 billion fine -- according to the Wall Street Journal -- to

settle charges it evaded U.S. sanctions against some nations.

As for the European markets, Germany was slightly higher but France and the UK were down.

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