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November 05, 2012 05:41 AM

Monday Morning Business Brief

Wall Street's focus this week will be on the election, along with any continuing financial fallout from Superstorm Sandy. In the latest session, the key averages fell between 0.9 and 1.3 percent. Futures trading suggest a flat opening.

  • Renewed concerns over Greece combined with uncertainty over the outcome of the U.S. presidential election to weigh on investors today as international stock markets slipped. Benchmark crude oil slipped below $85 per barrel. The dollar gained against the euro.
  • This week's economic calendar is on the light side. The Institute for Supply Management today releases its service sector index, expected to show expanding activity.
  • Toyota's quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast today despite a sales slump in China. Toyota, on track to regain the crown of world's No. 1 automaker this year, reported a July-September net profit of $3.2 billion.
  • Opposition to more austerity in financially strapped Greece has state hospital doctors, taxi drivers, transport workers and journalists walking off the job today. It's the beginning of three days of escalating anti-austerity strikes. The wobbly coalition government presents another austerity package in Parliament later today.

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