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April 04, 2013 08:48 AM

Thursday Morning Business Brief

The weekly jobless numbers will be watched closely by traders this morning after weak reports on hiring and service industries sent the stock market sharply lower yesterday. The Dow fell nearly 112 points to 14,550. its worst decline since Feb. 25. The S&P 500 dropped 16 1/2 points to 1,553. And the Nasdaq composite fell 36 points. Wall street appears headed for a higher open based on futures trading this morning.

  • International stock markets rose today and the dollar jumped against the yen after the Bank of Japan said it would massively expand the money supply to create inflation and lift the country out of its long economic malaise. Benchmark crude oil inched up and is above $94 per barrel. The dollar also gained against the euro.
  • There are a couple of economic reports that'll be released this morning. Both could have an effect on the stock markets. Probably the most closely watched of the two will the Labor Department's report on weekly jobless claims. Also today, mortgage giant Freddie Mac reports weekly mortgage rates.
  • Facebook is unveiling a new Android product today, a move that comes as a fast-growing number of its 1.06 billion users access it on smartphones and tablet computers. Among the challenges Facebook faces now is showing people mobile ads without annoying or alienating them.
  • Walgreens is expanding the reach of its drugstore clinics beyond treating ankle sprains and sinus infections to handling chronic diseases such as diabetes and high blood pressure. The Deerfield, Ill., company says most of its 370 in-store clinics don't try to replace doctors, just improve care access and supplement a physician's care. CVS Caremark Corp., Walgreen Co.'s competitor, also handles chronic conditions at most of its 640 clinics.
  • Business
  • Economy/Stocks

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