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September 07, 2011 05:35 AM

Wednesday Morning Business Brief

afternoon business brief

September is always Wall Street's worst month, and investors are looking yet again today at down numbers across the board. The Dow needed an afternoon rally yesterday to end the day down just more than 100 points, at 11,240. Only three of its 30 stocks gained any ground amid more big losses in European markets. Futures trading suggests gains this morning.
  • International stock markets rebounded Wednesday as investors looked past bleak U.S. jobs data and Europe's debt crisis to scoop up bargains following a steep sell-off. Oil prices rose above $87 per barrel as the dollar fell against the euro and the yen.
  • We'll get a fairly recent snapshot of the business climate later today. The Federal Reserve will release its latest Beige Book in the afternoon. It's a light day elsewhere, with home builder Hovnanian Industries set to release its quarterly results.
  • A new analysis shows that the health care industry has given generously to the 12 lawmakers on the congressional supercommittee tackling government debt. A study by the nonpartisan Center for Responsive Politics finds that doctors, drugmakers, hospitals and health insurers have contributed more than $17 million to the panel members since 1989.
  • Groupon's plans to go public may be on hold. The Wall Street Journal cites an unnamed source saying the online deal site has called off an investor roadshow set for next week and is now reconsidering when to go through with its IPO on a week-by-week basis.

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