Back to: Your Money Matters
October 14, 2013 05:38 AM

Monday Morning Business Brief

Stocks climbed last week amid hopes for a debt ceiling deal though talks stalled over the weekend. On Friday, The Dow closed at 15,237, while the S&P finished at 1,703 and the Nasdaq ended at 3,791, all gains. The reaction on Wall Street and by international stock markets could provide the necessary jolt to Senate leaders to resolve the issue. Based on futures trading, it appears Wall Street will open lower to start the new week.

  • International stock markets ebbed in holiday-thinned trade today as investors look for a deal to the U.S. debt and budget stalemates. Markets in Tokyo and Hong Kong closed for holidays. French and German markets fell in early trading with the British benchmark was little changed. Benchmark crude oil rose back above $102 a barrel. The dollar gained against the yen but fell against the euro.
  • While the partial government shutdown continues to keep the amount of fresh economic data to a minimum, the earnings season kicks into high gear. Coca-Cola, Johnson & Johnson and Citigroup all report their latest quarterly results before the stock market opens this morning.
  • There are renewed hopes for a pickup in eurozone economic growth with the announcement of a rebound in industrial output. Eurostat, the EU's statistics office, says industrial production rose by 1 percent during the month, recouping July's equivalent decline. The increase suggests that the sector will contribute to the recovery if September shows a rise.
  • Higher food prices pushed up China's consumer inflation in September as the government tried to keep to keep an economic recovery on track. The government reports that consumer prices rose 3.1 percent over a year earlier. That was up from August's 2.6 percent but below the Communist Party's 3.5 percent target for the year. Persistently higher inflation could complicate efforts to keep China's economic recovery on track.
  • Business
  • Economy/Stocks