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November 15, 2011 05:53 AM

Tuesday Morning Business Brief


Wall Street reacted negatively Monday to the latest developments in Europe. The Dow fell 75 points or 0.6 percent to 12,079. The S&P lost 12, while the Nasdaq dropped 22points. Futures trading is showing slippage this morning.
  • International stock markets fell today amid simmering concerns over whether Italy would ever grow robustly enough to repay its massive debts. Markets had been buoyed the past few days as Greece and Italy moved to form new governments and embarked on other steps to get their debt troubles under control. But Italy's bond sale Monday paid the highest interest rate since 1997.
  • Oil prices hovered near $98 a barrel today in Asia amid expectations that U.S. crude inventories are falling in a sign demand could be increasing. The American Petroleum Institute reports its weekly supply figures later today and the Energy Department's Energy Information Administration announces its data tomorrow.
  • The economies of the 17 countries that use the euro grew a mere 0.2 percent in the third quarter of the year despite a raging debt crisis that has raised fears of a new recession. The second consecutive quarterly rise of 0.2 percent, reported by the EU statistics office Eurostat, was widely-anticipated.
  • The government's report on October retail sales is due this morning. Also, gauges of wholesale prices and business inventories are also on tap.
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