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Monday Evening Business Brief

October 24, 2011, 5:32 PM

Monday Evening Business Brief
The stock market has closed at the highest level since the U.S. debt limit showdown in August. The Dow finished with a gain of 105 points at 11,914. The S&P was up 16 points, while the Nasdaq added 62 points.
  • Netflix shares are being pummeled after reporting the loss of 800,000 subscribers since June. The video subscription service triggered the losses by announcing a price hike and bungled an attempt to spin off its DVD-by-mail service.
  • The Obama administration is offering mortgage relief to hundreds of thousands of Americans in a renewed attempt to ease the economic and political fallout of the housing crisis.  On the road to Las Vegas, he's pitching new rules for federally guaranteed loans.
  • Federal health officials say Pfizer's anti-smoking drug Chantix did not increase psychiatric problems like depression and suicidal thoughts in two studies, though the findings are not definitive. The FDA has been looking into reports of mood disorders and erratic behavior among Chantix patients since 2007.
  • The Abu Dhabi developer building a vast cultural district in the Emirati capital says a branch of the famed Louvre museum will open there in late 2013.  Plans originally called for a 2012 opening date.

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