Wall Street adds more to big January

NEW YORK — A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December.

The S&P 500 rose 0.2% to clinch its third winning week in the last four and was near its highest level since the summer, before fading at the end of the day. It’s rallied through January on growing belief inflation is on a steady downswing, hopefully leading to less pressure on the economy and markets.

Helping to lead the way was American Express, which jumped 10.5% despite reporting weaker profit and revenue for the latest quarter than expected. It gave a forecast for earnings through 2023 that topped Wall Street’s expectations and announced a planned increase to its dividend.

So far, the job market has remained remarkably resilient despite a slowing overall economy. Almost all of the highprofile layoff announcements have been within the tech industry, which raced to expand after the pandemic sent demand for technology soaring.

Amazon axes free grocery delivery on Prime orders under $150

NEW YORK — Amazon is axing free grocery delivery for Prime members on orders less than $150.

Customers who get their groceries delivered from Amazon Fresh — and pay less than $150 — will be charged between $3.95 and $9.95, depending on the order size, the company said in an email to Prime members Friday.

The new policy starts February 28. “We will continue to offer convenient two-hour delivery windows for all orders, and customers in some areas will be able to select a longer, six-hour delivery window for a reduced fee,” Amazon said in the email.

Launched in 2005, Prime has more than 200 million members worldwide who pay $139 a year, or $14.99 a month, for faster shipping and other perks, such as free delivery and returns.

Currently, the company offers members free grocery deliveries on orders above $35, with the exception of New York, where it’s $50.