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June 11, 2012 05:42 AM

Monday Morning Business Brief

Wall Street's key averages logged gains last week of 3.6 to 4 percent. In Friday trading, the Dow added 93 points, or 0.8 percent, to 12,554. The S&P rose nearly 11 points to 1,326. The Nasdaq was up 27 points to 2,858.

  • World stock markets are up today and the euro got a boost after Spain sought a lifeline for its ailing banks, easing fears that Europe's debt crisis was about to spin out of control. Asian markets closed higher today. And in early trading, European markets are up. Wall Street also is headed for a higher open today, with Dow Jones industrial futures and S&P 500 futures up.
  • Oil jumped above $86 a barrel today. Benchmark oil for July delivery was up $2.00 to $86.10 per barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 72 cents to settle at $84.10 in New York on Friday. In London, Brent crude for July delivery was up $2.09 at $100.56 per barrel on the ICE Futures exchange.
  • The economic data machine is slow to crank up this week. Tuesday, the Treasury releases the federal budget statement. Wednesday brings the Producer Price Index as well as retail sales data and business inventories.
  • Authorities are investigating two vehicle accidents in Los Angeles County allegedly caused by U.S. Commerce Secretary John Bryson. Investigators say Bryson was driving on a major street Saturday evening when he allegedly rear-ended a car twice. Police say Bryson then struck another car just minutes later. He was found unconscious in his vehicle and was taken to a hospital.
  • Business
  • Economy/Stocks

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