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August 24, 2011 05:39 AM

Wednesday Morning Business Brief


Stocks look to build on yesterday's gains when trading opens this morning. The Dow Jones industrial average opens at 11,175 after increasing 322 points. The Nasdaq was up 101 points and the S&P 500 improved 39 points. Futures trading suggests a lower open today.
  • International stock markets wavered today Moody's downgrade of Japan's credit rating and weak U.S. home sales figures. That offset positive sentiment from a day of big gains on Wall Street.
  • Oil prices fell slightly to near $85 a barrel today in Asia after a U.S. supply report gave mixed signs about demand for crude. Another report from the Energy Department's Energy Information Administration is due later today.
  • A measure of industrial activity and future business trends is due out today when the Census bureau releases its July durable goods report. The U.S. Energy Information Administration releases its weekly oil and gas supply data.
  • Japan's government has unveiled a $100 billion loan program to ease the strains of a strong yen and encourage companies to turn adversity into opportunity. The unconventional one-year scheme aims to prompt Japanese companies to shift their yen holdings into foreign currencies and spur overseas mergers and acquisitions.
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