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Friday Morning Business Brief

September 21, 2012, 5:34 AM

Friday Morning Business Brief

The key averages were mixed, but more stocks were lower in the latest session on Wall Street. The Dow gained 19 points to 13,597. The S&P slipped nearly a point, while the Nasdaq was down nearly 7 points. Futures trading suggests gains at this morning's opening.

  • International stock markets rebounded today, led by gains in technology and oil companies, despite uncertainty about the fragile global economy. Benchmark crude oil rose above $93, clawing back some of its recent large fall and helping to boost energy stocks. The dollar rose against the euro but fell against the yen.
  • Keep an eye on shares of Oracle Corp. this morning. Late yesterday, the business software giant posted a year-over-year decline in revenue. That is an indication customers are increasingly cautious about committing to sales.
  • Eager buyers formed long lines today at Apple stores in Asia, Europe and North America to be the first to get their hands on the latest version of the smartphone, the iPhone 5. Stores in Asia were jammed when they opened. Some Londoners have been camped out for weeks. Japanese police are investigating a theft of 200 phones.
  • Google Inc. says it will close a music download service in China, further reducing its presence in the world's most populous Internet market. The move comes two years after the company closed its mainland search engine in a dispute over censorship and computer hacking.

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

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