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March 26, 2012 07:12 AM

Monday Morning Business Brief

Wall Street tries to regroup after a largely negative showing last week. In Friday trading, the Dow gained 35 points, or 0.3 percent, to 13,081. The S&P was up 4 to 1,397. The Nasdaq added 5 points to 3,068. For the week, the Dow was down 1.1 percent, the S&P lost 0.5 percent. The Nasdaq managed a gain of 0.4 percent. Futures trading suggests a lower open.

  • International stock markets drifted lower in lackluster trading today as investors saw few optimistic indicators to weigh against the prospects of a global economic slowdown. Benchmark oil remained above $106 per barrel while the dollar rose against the euro and the yen.
  • A survey by the National Association for Business Economists finds that most economists believe it will take a combination of higher taxes and lower spending to reduce the federal budget deficit. A survey on national policies also forecasts that short-term interest rates will remain at current levels for at least 12 more months. 
  • A forward-looking gauge of the housing market is due today from a trade group. The National Association of Realtors releases pending home sales index for February. 
  • Today marks the beginning of the end of a highly partisan legal fight pitting the administration against 26 states that are leading a challenge to the largest expansion in the nation's social safety net in more than four decades. It's day one of oral arguments before the Supreme Court on a key provision of President Barack Obama's health care overhaul that requires Americans to purchase health insurance by 2014.
  • Business
  • Economy/Stocks
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