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June 05, 2012 06:39 PM

Tuesday Evening Business Brief

Wall Street's key stock averages edged higher. The Dow added 26 points, or 0.2 percent, to 12,128. The S&P 500 gained 7 points, while the Nasdaq surged 18 points.
 

  • The White House says there's a "heightened sense of urgency" among European leaders as they confront fiscal and banking crises that threaten the U.S. economy and President Barack Obama's re-election. The White House spokesman said the president welcomes "accelerated European action" to avoid a eurozone economic meltdown with potential global consequences.
  • Treasury yields rose slightly as other markets quieted down. The yield on the benchmark 10-year Treasury note rose to 1.57 percent, up from 1.52 percent late Monday.
  • A former mortgage broker has been sentenced to 2 1/2 years in prison for being the middleman in a $37 million insider trading scheme that federal authorities said was one of the longest-running ever uncovered. Sentencing for Kenneth Robinson came a day after his two co-conspirators received far lengthier sentences for their role in the 17-year conspiracy.
  • The U.S. has terminated funding for a $20 million project to develop a Pakistani version of "Sesame Street". U.S. officials say the move was in response to alleged corruption by the local puppet theater working on the initiative.
  • Business
  • Economy/Stocks
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