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September 09, 2011 05:44 AM

Friday Morning Business Brief

Stocks ended lower in Thursday trading on Wall Street. The Dow fell 119 points or about 1 percent, finishing at 11,296. The S&P was down nearly 13 points, while the Nasdaq was down about 20 points.
  • Asian stocks swung between gains and losses today. The Nikkei closed down 0.4 percent and South Korea's Kospi fell 1.2 percent, but Hong Kong's Hang Seng was 0.2 percent higher. In early trading in Europe, Britain's FTSE 100 index was down 0.8 percent and Germany's DAX fell 1.5. Wall Street is poised for a modest retreat with Dow futures down 0.1 percent and S&P 500 futures down 0.2 percent.
  • Oil prices hovered above $89 a barrel today in Asia. benchmark oil for October delivery was up 12 cents to $89.17 at midday Singapore time in electronic trading on the New York Mercantile Exchange. Crude fell 29 cents to finish at $89.05 on Thursday.
  • Republican House Speaker John Boehner says he's not making any promises, but GOP presidential contender Michele Bachmann says President Barack Obama's jobs plan is another "failed gimmick." Obama has proposed a $450 billion plan to jolt the economy and has called on Congress to "Stop the political circus."
  • Congress has given the U.S. patent system its first major overhaul since 1952. The Senate's passage of the America Invents Act is intended to reduce costly legal battles and give the Patent and Trademark Office the money it needs to process patent applications in a timely fashion. The bill goes to President Barack Obama for his signature.