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May 20, 2013 08:36 AM

Monday Morning Business Brief

The trading week ended with another surge upward Friday. The Dow rose 121 points and starts the week at 15,354. The S&P 500 is at 1,667 after climbing 17 points Friday, while the Nasdaq is at 3,499 after a 33 point gain. Futures have been unchanged.

  • Evidence of a steady economic recovery in the U.S. helped push International stock markets higher today. Benchmark crude oil fell below $96 a barrel. The dollar fell against the euro and the yen.
  • Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer. The technology news site All Things D says Yahoo's board is considering a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer negotiated. If the board signs off, the deal could be announced today.
  • A survey of business economists is more bullish about consumer spending but predicts that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. The National Association for Business Economics survey predicts consumer spending and housing should pick up this year, while government spending declines at a faster rate.
  • It's a good day for United Airlines and Boeing's signature 787 jetliner. The planes are returning to service after being grounded for four months by the federal government because of smoldering batteries on 787s owned by other airlines, costing them millions. United's first 787 flight is scheduled for 11 a.m. from Houston to Chicago.
  • Business
  • Economy/Stocks

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