The Dow Jones industrial average finished above 22,000 for the first time, buoyed by higher corporate profits and low unemployment.

The Dow, the most widely cited stock index in the world, closed Wednesday at a record of 22,016. It is now up 11 percent for the year and more than 20 percent since President Trump's election in November.

"Earnings are growing and are growing faster than anybody thought. That alone will drive stock prices up," says Brad McMillan, chief financial officer at Commonwealth Financial Network.

A local manufacturer’s advances were celebrated Tuesday as part of Startup Day Across America.

SiMPore Inc., a nanotechnology company that designs and produces membranes, showcased two projects it’s developing.

James Roussie, SiMPore's chief scientific officer, said one involves developing filters to enable a small-scale blood dialysis system. The other would help red blood cells that are grown in culture to mature properly.

Xerox is reporting mixed results for its second quarter earnings released on Tuesday morning.

Xerox is a standalone company now, after it split from the business services side of the corporation earlier this year.

The division based in Rochester mostly revolves around document technology, and in this latest quarter, profits of $166 million came in higher than Wall Street expects on a per share basis, with the company earning .87 per share on an adjusted basis; Wall St. expected around .80 per share.

ITT Goulds Pumps and the United Steelworkers Local 3298 have announced a new five year contract.

Officials say the agreement was ratified by the workers on Saturday morning.

The Seneca Falls operations general manager for Goulds Pumps, Mike McKee says the agreement will allow the company to remain competitive in a challenging global market.

Union local president Mison La-Seigna says the package is fair for the employees while supporting business objectives.

ALBANY, N.Y. (AP) — New York State Comptroller Thomas DiNapoli is sounding the fiscal alarm, saying the state could be headed toward increased financial challenges in the future.

A report issued Friday by the Democratic comptroller's office cited uncertainty in Washington about proposals to cut funding for health care and other programs that boost the state's bottom line.

A regulatory matter involving M&T Bank, raised four years ago amidst a major bank acquisition, was formally resolved Thursday when the Federal Reserve lifted a "letter of agreement" related to it.

Local business leaders are responding to comments made by President Trump about the economy in Upstate NY.

In an interview this week with the Wall Street Journal, Trump indicated that people ewho live in what he called 'upper New York state,'  and some other states will need to move to states like Wisconsin, Iowa and Colorado, which are adding manufacturing jobs.

The U.S. economy grew at an annual rate of 2.6 percent between April and June.

It was nice comeback from the tepid 1.2 percent annual growth rate of the first quarter and more in line with the turbo-charged growth of 3 percent that has been promised by the Trump administration.

The latest growth was partially driven by an increase in consumer spending. It's a positive sign that Americans are opening up their wallets, especially since consumer spending makes up about 70 percent of the economy.

In a moment of unexpected high drama, Republicans were stymied once again in their effort to repeal the Affordable Care Act — and they have John McCain to thank for it.

In the early morning hours Friday, the senator showed why he earned the nickname "Maverick" over his long tenure.

Second-quarter home buying statistics show home buyers are still motivated to purchase a home, but there isn't much of an inventory to choose from.

The Greater Rochester Association of Realtors released statistics Thursday.

President Linda Wilson says sales fell 12 percent in the quarter, and the market is down over 37 percent because of the low inventories.

"This quarter we've only had 1,597 houses that are available for sale.  The good part is the sales price has increased by 4.1 percent," she said.

That translates to a median house price of $138,500.


U.S. Photonics Hub Coming To Rochester

What does this mean for the economy of the Rochester region?