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Accumulating snow possible Monday night - Tuesday. Storm Center Update.

 

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Monday Morning Business Brief

October 3, 2011, 5:39 AM

Monday Morning Business Brief
International stock markets have been taking a beating today after Greece admitted it won't meet its deficit reduction targets. Thats raising renewed fears that the country will not get crucial bailout loans it needs to avoid a default on its debts.
  • A new quarter, a new month begin now for Wall Street. In the quarter just ended, the key averages all lost more than 12 percent, the worst showing since the financial crisis. Futures trading suggests a sharply lower open today.
  • Europe's debt crisis continues to weigh on crude oil prices, which extended losses today. The debt crisis and falling personal incomes in the U.S. suggested slack demand for fuel. Crude fell to near $78 a barrel in Asia.
  • Finance ministers from the 17 euro countries will grapple over Greece's ever-worsening debt crisis today. The meeting comes a day after Athens revealed its deficit will be higher than previously promised. The ministers have already said they won't decide on the next bailout payment for Greece today.
  • The Institute for Supply Management today releases fresh data on the manufacturing data, expected to show slow growth. Also on tap today, reports on auto sales and construction spending.

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