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September 20, 2011 05:41 AM

Tuesday Morning Business Brief


Stock prices began the week on the down side. The Dow fell 109 points to 11,401. The S&P was off about a dozen points, while the Nasdaq dropped more than 9 points.
  • World stocks mostly rose today as investors put aside worries over Europe's debt crisis to await the outcome of a two-day Federal Reserve meeting. In early trading, European shares are higher. In Asia, in Japan and Asia closed down. Hong Kong's Hang Seng and South Korea's Kospi rose. Wall Street is set to open higher, with Dow Jones futures up 0.2 percent and S&P 500 futures up 0.1 percent.
  • Oil prices rose above $86 a barrel Tuesday in Asia as investors looked to a U.S. central bank meeting this week for measures to Boost economic growth. Benchmark oil for October
    delivery was up 81 cents at $86.51 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude dropped $2.26 to settle at $85.70 on Monday.
  • Italy is criticizing Standard & Poor's for downgrading the country's credit rating. Italian officials say the downgrade doesn't reflect Italy's efforts to boost growth and reduce the country's debts. But S&P is warning that it may downgrade Italy again.
  • A global airline association is forecasting the industry's earnings to drop 29 percent next year amid weak European demand and higher costs. The International Air Transport Association also says profits for European carriers will likely plunge next year as the region's debt crisis weighs on demand for travel.
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