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June 07, 2012 06:01 PM

Thursday Evening Business Brief

Early gains didn't hold on Wall Street. The Dow finished with an advance of 46 points, or 0.4 percent, to 12,461. The S&P was little changed, while the Nasdaq dropped nearly 14 points.

  • Federal Reserve chief Ben Bernanke described a hopeful outlook in testimony to a congressional panel today, sending no signals that the Fed will take further steps soon to aid the economy. Bernanke did acknowledge that Europe's debt crisis poses risks to the U.S. financial markets.
  • Americans cut back on credit card purchases in April, raising the possibility some may be worried about the outlook. The Federal Reserve says consumers increased borrowing by $6.5 billion in April, just half of the March gain.
  • The price of oil fell 20 cents to finish at $84.82 per barrel in New York. Benchmark crude has been up every trading session this week, before today.
  • A strike planned by Greek municipal employees threatens to derail the crucial June 17 national election, which could determine whether the debt-crippled country continues to use the euro. A union representing thousands of people who work for cities, villages and other municipalities says its members are paid far less for doing elections-related work than other government employees.
  • Business
  • Economy/Stocks

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