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February 02, 2012 05:43 PM

Thursday Evening Business Brief


Stocks ended today's trading on Wall Street in mixed fashion, ahead of tomorrow morning's unemployment report.
The Dow fell 11 points, or less than 0.1 percent, to 12,705. The S&P gained more than a point, while the Nasdaq jumped 11 points.

  • Ben Bernanke today defended the Federal Reserve's decision to hold interest rates at record-low levels for the next three years, despite criticism mostly from Republicans on the House Budget Committee. Panel chairman Paul Ryan charged the Fed's strategy risks fanning inflation. Bernanke replied that prices and the dollar are stable.
  • A measure of retail chain sales was up 4.8 percent in January, but the results were varied. For example, Target and Saks did well, but Macy's saw disappointing results.
  • Eastman Kodak wants to end its deal for naming rights to the Los Angeles theater serving as host to the Academy Awards. Without being specific on the price, the photography pioneer's financial advisors say benefits of the deal aren't worth the cost. The 132-year-old company filed for bankruptcy protection on Jan. 19 after years of cost-cutting and turnaround efforts.
  • AOL's Huffington Post Media Group says it will launch a streaming video service this summer. It will have news content coming from New York and Los Angeles with about 100 employees working on the project.
  • Business
  • Economy/Stocks
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