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May 09, 2012 05:42 AM

Wednesday Morning Business Brief

U.S. stocks Tuesday finished off their worst levels of the day, as Europe's political turmoil adds a new worry for global markets. The Dow was down 76 points, or 0.6 percent, to 12,932. The S&P was down 6 points, while the Nasdaq lost 11 points. Futures trading suggests losses this morning.

  • International stock markets fell today as political turmoil in Greece pushed the debt-crippled country closer to financial disaster. Japan's Nikkei closed at a three-month low. Crude oil sank to near $96 a barrel. The dollar rose against the euro and fell against the yen.
  • On today's economic calendar, the Commerce Department today releases wholesale trade inventories figures for March. Also, Macy's, News Corp. and Toyota are among firms reporting quarterly earnings.
  • Couples retiring this year can expect to pay more for medical bills than those who retired a year ago. An annual projection released today by Fidelity Investments estimates a newly retired couple will need $240,000 to cover health care expenses over their retirement.
  • The Export-Import Bank is expected to take a step toward a new lease on life today. The House is set to extend the current charter after a senior House Republican and Democrat reached a compromise aimed at answering some criticisms of the bank. If it passes, the bill goes to the Senate.

You can find more local business news on our Back To Business page of

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