U.S. stocks on Tuesday rose as investors brushed aside the threat of a conflict with North Korea. The Dow Jones Industrial Average gained 0.26%, the S&P 500 added 0.08% and the Nasdaq increased 0.3%.
United Technologies Corp. (UTX - Get Report) was the best performer on the Dow, rising 2.9% on Tuesday. The defense stock spiked following a Wall Street Journal report that said the company is close to purchasing Rockwell Collins Inc. (COL) in a deal worth more than $20 billion.
In the short term, however, retail gas prices are expected to rise sharply as the impact of reduced supply filters from the Gulf region to distribution points around the U.S., where average prices are hovering around $2.41 a gallon, up 2 cents from Tuesday, Aug. 29, and more than 10 cents from last month's average of around $2.31, according to the price comparison website, Gasbuddy.com.
Curiously, U.S. crude oil prices aren't reacting in the same way, with West Texas Intermediate crude futures for October delivery trading 0.6% lower from Tuesday's New York close to $46.18 per barrel.
The purchase more than triples Buffett's original investment made six years ago.
Bank of America shares closed Tuesday at $23.58, down 0.59%, and were slightly lower in premarket trading on Wednesday.
Khosrowshahi told The Wall Street Journal earlier Tuesday Journal that he expects former CEO Travis Kalanick would be involved in the company, though he didn't specify in what capacity. Kalanick resigned as CEO of Uber in June over pressure from five major shareholders.
Separately, the Journal, citing unnamed sources, reported the Justice Department was in the early stages of examining Uber's business for alleged violations of U.S. foreign bribery laws.
Uber confirmed to CNBC it was cooperating with the Justice Department on a preliminary probe, but didn't specify the nature of the potential case. According to the Journal, the Justice Department may or may not decide to open a full investigation into the ride-hailing company.
5. -- Earnings reports are expected Wednesday from Bob Evans Farms Inc. (BOBE) , Brown-Forman Corp. (BF.A - Get Report) , Five Below Inc. (FIVE - Get Report) , Vera Bradley Inc. (VRA - Get Report) , Analog Devices Inc. (ADI - Get Report) , Box Inc. (BOX - Get Report) and Workday Inc. (WDAY - Get Report) .
Updated from 6:01 a.m. ET
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