The U.S. Supreme Court dealt a blow to affirmative action, upholding a voter-approved ban on racial preferences in admissions at Michigan’s state-run universities in a decision that provides a blueprint for other states wishing to enact similar bars.
U.S. stocks rose for a sixth day, the longest streak since September, amid a rally in drugmakers after more than $70 billion in global takeover offers. Oil fell the most in three months and coffee rose to a two-year high.
U.S. Senator Rand Paul, a potential 2016 Republican presidential candidate, called for expanded school choice for poor and minority children while visiting President Barack Obama’s Democrat-dominated hometown of Chicago.
West Texas Intermediate oil dropped the most in more than three months, widening the discount to Brent, on projections that a government report tomorrow will show that U.S. crude stockpiles climbed last week.
National regulations on the handling and storage of ammonium nitrate fertilizer are needed to avoid the type of massive explosion that last year killed 14 people in West, Texas, the U.S. Chemical Safety Board said.