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November 11, 2011 05:46 AM

Friday Morning Business Brief


The key averages come into today's final trading session of the week with losses, despite yesterday's gains. For the week, The Dow is down 0.7 percent, the S&P 500 is down 1.1 percent and the Nasdaq is off 2.3 percent. Futures trading suggests a perky day though holiday volume is expected to be light.
  • The prospect of new governments in Greece and Italy helped support international stock market sentiment today. The gains come at the end of a hugely-volatile week when investors fretted over the future of the euro currency and the outlook for the global economy.
  • Oil prices rose to a three-month high above $98 a barrel Friday in Asia. Investors hope that political leadership changes this week in Greece and Italy will help Europe contain its debt crisis.
  • Italy's Senate is preparing to vote on economic reform measures demanded by the European Union, which should clear the way for Premier Silvio Berlusconi to quit. The EU has already said Italy will need to take additional measures. And Greece's incoming prime minister is to name his cabinet. The goal of the interim coalition government is to secure continued bailout funding.
  • Stocks are traded on this Veterans Day. However, the bond market is closed. On the calendar, builder D.R. Horton reports quarterly financial results.
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