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August 24, 2012 05:34 AM

Friday Morning Business Brief

Stocks hope to end the week on a positive note after yet another losing session. The Dow Jones industrial average, which has been down every day this week, is at 13,057 after losing 115 points. The S-and-P 500 index fell 11 points to 1,402. The Nasdaq composite index lost 20 points and stands at 3,053. Futures trading suggest a marginally higher opening.

  • International stock markets fell today as disappointment over weak economic indicators from the United States, China and Europe offset hopes for more stimulus from central banks. Benchmark crude oil fell below $96 a barrel.  The dollar rose against the euro and the yen.
  • A government report today will provide a snapshot of how the manufacturing sector is doing. Analysts expect the July durable good reports to show an increase of around two and-a-half percent.
  • The new Greek prime minister needs to overcome deep skepticism when he meet's Germany's leader today if there's any hope of winning more time from creditors to implement reforms and spending cuts. The reforms are a condition for Greece to receive bailout loans.
  • A South Korean court has ruled that rivals Apple Inc. Samsung Electronics Co. both infringed on each other's patents in making their mobile devices. The Seoul Central District Court ordered Apple to remove the iPhone 3GS, iPhone 4, iPad 1 and iPad 2 from shelves in South Korea. The court also ruled that Samsung infringed one of Apple's patents and banned sales of the Galaxy S2 and other products in South Korea. The court also ordered both sides to pay monetary compensation.

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