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November 07, 2011 05:38 AM

Monday Morning Business Brief


A losing week was capped by Friday's downward move in stocks as investors fretted about whether Greece will avoid a default. In the latest session, the Dow fell 61 points to 11,983. The S&P shed 8 points, or 0.6 percent, while the Nasdaq fell 12 points. It was the first down week for stocks in a month. Futures trading suggests more losses today.
  • International stock markets stalled today as investors remain unsure whether Greece will be able to work itself out of a debt crisis despite a weekend power-sharing deal by the country's leaders. Global stock markets have been rattled for the past week over Greece. Oil prices inched up to hover above $94 a barell today.
  • There's not a lot to offer investors looking for new economic signs this week. Today, the Federal Reserve releases an update on consumer credit.
  • The leaders of Greece's two biggest parties are due to resume talks today to agree on who should be the country's new prime minister. The two sides reached a historic power-sharing deal yesterday to push through a massive financial rescue deal and prevent imminent bankruptcy.
  • A federal judge in Miami holds a hearing today on a possible settlement in a lawsuit against Bank of America. At issue is whether to finalize a $410 million deal in a suit claiming the bank charged excessive overdraft fees. The hearing is to consider objections or other issues.
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