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September 28, 2011 05:53 AM

Wednesday Morning Business Brief

Business Brief

Wall Street has sent stocks higher for three straight sessions. In Tuesday trading, the Dow added 147 points or 1.3 percent to 11,191. The S&P was up 12 points to 1,175, while the Nasdaq surged 30 points to 2,547. Wall Street is braced for a lower opening today, with Dow Jones and S&P futures slipping.
  • International stock markets have stalled as hopes wane for a quick agreement on a plan to contain Europe's death crisis which threatens to derail global economic growth. Worries about Europe have weighed on stock markets for months and analysts caution that if a concrete rescue plan for debt laden Greece does not emerge soon, stocks could head down.
  • Oil prices fell below $84 a barrel Wednesday in Asia today ahead of U.S. economic data this week that will provide clues about the future strength of demand for crude. Oil's rally Tuesday mirrored gains in global stock markets, buoyed by hopes that Europe was preparing a plan to contain the region's debt crisis. But some analysts foresee bleak prospects.
  • Manufacturing is the focus of today's main economic report. The Commerce Department releases durable goods for August, with only a slight increase expected.
  • Toyota is reporting that its global production rose for the first time in a year in August. Japan's biggest automaker says its worldwide output climbed 10.6 percent from a year earlier to 626,817 vehicles. Rival Nissan also reports robust figures for August. Honda continued to lose ground with global output falling 9.3 percent to 261,524 vehicles.

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