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November 29, 2011 05:44 AM

Tuesday Morning Business Brief

Monday's 2.9 percent advance for the S&P 500 broke a seven-session losing streak. The Dow gained 291 points, or 2.6 percent, to 11,523.
The S&P was up 34 points, while the Nasdaq gained the most, up 86 points, or 3.5 percent on the day. Futures trading suggests a lower open today.
  • International stock markets headed in opposite directions today. Asian stock markets climbed amid hopes that radical steps are being considered to choke off a debt crisis threatening to rip apart the euro currency union. But that hope faded as European markets opened, sending them lower in early trading.
  • Oil prices fell below $98 a barrel today in Asia as European leaders raced to contain the continent's debt crisis and keep the euro currency block intact. Crude has zigzagged near $100 for the last two weeks as traders speculate whether Europe's debt crisis will break apart the 17-nation euro currency zone. European leaders are scrambling to keep contagion from spreading.
  • Eurozone finance ministers are streaming into Brussels today in a desperate bid to save the 17-nation euro currency - and to protect Europe, the United States, Asia and the rest of the global economy from a debt-induced financial tsunami. If the Euro fails, bank lending would freeze, stock markets would likely crash, and Europe's economies would crater.
  • On today's economic calendar, the S&P Case/Shiller home price index is due. Also, the Conference Board reports on consumer confidence for this month.

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