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Stock market rally pauses on Monday

May. 14, 2013 @ 12:00 AM

NEW YORK -- A record-breaking rally in stocks paused Monday as investors assessed whether stock valuations were overstating the recent improvement in the economy.

The latest positive data, out Monday, showed that Americans increased spending at retailers last month. That suggests that consumers may boost economic growth in the current quarter ending June 30. Still, that wasn't enough to lift shares.

On Monday, stocks started lower before paring some of those losses throughout the day.

The Dow fell 26.81 points, or 0.2 percent, to 15,091.68. The S&P 500 index was little changed at 1,633.77. The Dow is up 15.1 percent this year, and the S&P 500 is 14.6 percent higher.

The Nasdaq composite rose 2.21 points, 0.1 percent, to 3,438.79.

Natural gas expo underway in W.Va.

CHARLESTON -- Hundreds of natural gas and automotive industry professionals from across the nation converge at the Charleston Civic Center this week for the inaugural Appalachian Basin NGV Expo and Conference.

Hosted by Gov. Earl Ray Tomblin and the West Virginia Oil and Natural Gas Association, the conference kicked off with a reception Monday, according to a press release.

Tuesday's presentations run from 8:30 a.m. to 2:45 p.m. with national presenters including Richard Kolodziej, president of NGV America; Brian Holtz of Waste Management; and Elizabeth Ames Jones of Patton Boggs LLP. The conference wraps up on Wednesday, May 15, with a luncheon. The general public is invited to attend from 9-11 a.m. Wednesday.

Gas prices in Ohio down from last week

COLUMBUS, Ohio -- Ohio motorists are seeing lower gas prices to start the work week.

A gallon of regular gas in Ohio was listed at an average of about $3.57 in Monday's survey from auto club AAA, the Oil Price Information Service and Wright Express. That's down 11 cents from last Monday's average of $3.68.

The Ohio price this week is about a penny lower than the national average.

The state average is about 16 cents higher than this time last month -- but 7 cents lower than at the same time in 2012.

The lowest average price in the state Monday was about $3.48 in the Canton-Massillon areas.

Walgreen extends agreement with CVS

DEERFIELD, Ill. -- Drugstore chain Walgreen Co. has extended its agreement to fill prescriptions for CVS Caremark Corp., which runs one of the nation's largest pharmacy benefit management businesses.

The deal means customers with prescription drug benefits managed by CVS Caremark can still have their prescriptions filled at stores operated by Deerfield, Ill.-based Walgreen, the nation's largest drugstore chain.

CVS Caremark also runs the nation's second largest drugstore chain, in addition to its pharmacy benefits management, or PBM, business.

Walgreen released a brief statement on Monday announcing the multi-year agreement but declined to offer details on it.