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Monday Morning Business Brief

January 30, 2012, 5:43 AM

Monday Morning Business Brief
Stocks will try to improve on Friday's mixed performance today, and add to the strong upward trend so far this year. The Dow ended last week at 12,660 after losing 74 points in the final session. The S&P fell 2 points, while the Nasdaq gained 11. Futures trading suggests a lower open today.
  • International stock markets fell today, with uncertainty about a tentative deal to resolve Greece's debt crisis weighing on investor sentiment. In Asia the investment mood was dampened by Friday's release of data showing the U.S. economy grew more slowly than expected in the last three months of 2011. Benchmark crude oil slipped to near $99 per barrel while the dollar rose against the euro but fell against the yen.
  • Two economic reports of note will be released this morning. The Commerce Department reports on personal income and spending. At the end of the week, the Labor Department unveils the latest monthly unemployment report.
  • Federal prosecutors say data from users of Megaupload could be deleted as soon as Thursday. U.S. Prosecutors have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.
  • Greece is under more pressure from the European Union and the International Monetary Fund to meet its targets if it wants its latest bailout installment. Greece's premier is warning of more painful austerity measures for his countrymen.

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