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Friday Morning Business Brief

September 14, 2012, 5:43 AM

Friday Morning Business Brief

Jolted in a positive way by the Federal Reserve's latest actions, stocks soared in the most recent Wall Street session. The Dow gained more than 200 points to settle at 13,540, the highest since December 2007. The S&P gained 1.6 percent, while the Nasdaq was up 1.3 percent. Futures trading suggests gains at this morning's opening.

  • International stock markets got a bounce today after investors got just what they wanted - big moves by the Federal Reserve to help the U.S. economy out of its funk. Benchmark crude oil rose beyond $99  per barrel. The dollar fell against the euro but rose against the yen.
  • There are plenty of economic reports on tap today. They cover retail sales, consumer prices, industrial production and business inventories.
  • European finance ministers meeting in Cyprus today are hinting that Greece may have some room to maneuver to meet its bailout commitments. But the Dutch finance minister says there won't be much time to give, and no more money. The ministers are discussing various aspects of the eurozone's debt problems.
  • Energy officials in Maine say a tidal power project is delivering electricity to the U.S. power grid for the first time. Bangor Hydro Electric Co. operates the grid where the tidal power connects. It says Portland-based Ocean Renewable Power Co.'s first underwater turbine is delivering power. Ocean Renewable president Chris Sauer says it's a "historic moment."

Find the latest local business news on the Back to Business page of KELOLAND.com.

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