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June 24, 2010 07:46 AM

Morning Business Brief

  • Wall Street has yet to mount a rally this week that could last through the closing bell. In the latest session, the Dow gained nearly 5 points to settle at 10,298. The S&P was down 3, and the Nasdaq shed nearly 8 points.
  • Asian stock markets mostly rose today - but the gains were tentative. The markets are reacting to the latest move by the Federal Reserve - which kept interest rates at a record low, but struck a note of caution about the U.S. economy.
  • Oil prices have fallen to $76 a barrel in Asia amid signs the U.S. economic recovery and demand for crude remain uneven. The benchmark price for crude for August delivery: $76.09.
  • An update on the job market is due today. The Labor Department releases its weekly look at new claims for unemployment benefits.
  • Apple's newest iPhone is already in short supply - just hours after its launch in Japan. Hundreds lined up outside stores to become among the first in the world to get one. But some went home empty-handed - as stores ran out by early afternoon.
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