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June 23, 2012 12:47 PM

Saturday Afternoon Business Brief

Even with yesterday's bounce, the Dow and the S&P 500 were down for the week. That was their first week of losses since the beginning of the month.

  • Economic reports due out next week include an early look at the housing market. After word last week of a dip in sales of previously-owned homes, we get a look Monday at new home sales from the Commerce Department. A report is scheduled Tuesday on home prices.
  • Europe's latest attempt to revive its economy drove the price of oil 2 percent higher yesterday, reversing a sharp, two-day drop. Even with the gain, crude lost 5 percent for the week.
  • Greece's new coalition government says it will seek to repeal some taxes, halt layoffs and extend the deadlines for the tough austerity measures that were conditions of the country's bailout agreement. Greece has depended on international rescue loans for more than two years to avoid defaulting on its debt. Germany is the largest single contributor to Greece's bailout and has repeatedly said Athens must stick to its austerity targets.
  • DirecTV says because of a shortage of programming it is cutting back the time that 3-D channel, n3D, is on the air. To watch the channel, viewers need a 3-D ready TV, an HD receiver and HD service.
  • Business
  • Economy/Stocks

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