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July 24, 2012 06:00 AM

Tuesday Morning Business Brief

Wall Street suffered a second straight session decline Monday. The Dow fell 101 points to 12,721. The S&P declined 12 points to 1,351. The Nasdaq was down 35 points to 2,890. Futures trading suggests a flat opening today.

  • International stock markets are on firmer footing today as a sign China's manufacturing is beginning to recover provided respite from Europe's deepening debt turmoil. Benchmark crude oil rose to hover above $88 a barrel. The dollar gained against the euro and fell against the yen.
  • On today's calendar of business events, Apple reports quarterly results. Apple is the mostly highly valued publicly-traded company, put at more than $560 billion.
  • Pepsi has scored the Super Bowl halftime show. The soda giant says it struck a multiyear deal with the National Football League to sponsor the big game's musical performance. Financial terms and the exact duration of the deal were not disclosed. Pepsi also bought 60 seconds of ad time during the big game, which has seen record ratings for the past three years.
  • A government safety panel looking at the Gulf oil spill has concluded BP wasn't as strict on overall safety when drilling rigs involved other companies that they hired. The panel also says BP placed too little focus on the big systemic hazards that led to the spill.

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