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Evening Business Brief

November 10, 2010, 6:33 PM

Evening Business Brief
Stock prices edged higher toward the end of today's session. The Dow gained 10 points to 11,357. The S&P added 5 points to 1,219. The Nasdaq rose 16 points to 2,579.
  • Cisco Systems reports its quarterly profit rose 8 percent from last year, fresh evidence that business spending on technology continues to recover from the recession. Downbeat comments from CEO John Chambers on the pace of its customers' spending helped push shares lower in extended trading.
  • Crude prices rose on word of falling inventories.  Benchmark oil for December delivery rose $1.09 to $87.81 a barrel on the New York Mercantile Exchange.
  • The Federal Communications Commission is investigating whether Google broke the law by inadvertently collecting fragments of e-mails, Web surfing behavior and other online activities over public Wi-Fi networks while photographing neighborhoods for its "Street View" mapping feature. The FCC probe comes two weeks after the Federal Trade Commission concluded its own inquiry without taking action.
  • The Federal Reserve will buy a total of $105 billion worth of government bonds starting later this week as it launches a new program to invigorate the economy. The bonds will be purchased through a series of 18 operations that start Friday and end in early December.

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