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Friday Morning Business Brief

June 15, 2012, 5:38 AM

Friday Morning Business Brief

Stocks rose in Thursday trading on hopes that central banks can manage in the face of possible financial turbulence arising from this weekend's election in Greece. The Dow added 156 points, or 1.2 percent, to 12,562. The S&P added 14 points, while the Nasdaq surged 18 points.

  • There's one economic report on tap today for Wall Street. That's May industrial production from the Federal Reserve.
  • World stock markets have been higher today amid expectations that central banks will act to prevent the outcome of Greece's election this weekend from destabilizing the global economy. Meanwhile, Spain's borrowing rate has dropped slightly, though it remains dangerously close to the 7 percent level that forced Greece, Ireland and Portugal to ask for bailouts of their public finances.
  • The Obama administration is proposing new air quality standards to lower the amount of soot that can be released into the air. The Environmental Protection Agency is expected to be announced the rules today. The administration had sought to delay the new standards until after the November elections, but a federal judge ordered officials to act after 11 states filed a lawsuit seeking a decision from the EPA this year.
  • Internal Federal Aviation Administration documents indicate employees felt political pressure to approve a wind farm planned off Cape Cod. The papers were obtained by opponents of the Cape Wind project. They indicate there was internal disagreement over the best way to stop the turbines from interfering with radar and compromising airplane safety. The FAA says employee opinions expressed in internal documents don't necessarily represent agency policy.

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