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Monday Morning Business Brief

September 10, 2012, 5:42 AM

Monday Morning Business Brief

Stocks are coming off a weekly gain, capped by a fairly quiet session on Friday. The key averages were up 1.7 to 2.3 percent last week.

  • Asian stocks faced a mixed day of trading. Japan's Nikkei 225 fell marginally after the government said the economy grew at a slower pace than earlier estimated. South Korea's Kospi fell 0.3 percent. But Hong Kong's Hang Seng gained 0.1 percent. Benchmark oil for October delivery rose 10 cents to $96.52 per barrel in electronic trading on the New York Mercantile Exchange.
  • The Federal Reserve today releases monthly data on consumer credit.  That provides a snapshot covering use of credit cards, car loans and the like.
  • The average U.S. price of a gallon of gasoline has jumped 8 cents over the past two weeks. That's according to the Lundberg Survey, which puts the price of a gallon of regular at $3.84. Midgrade costs an average of $3.99 a gallon, and premium is at $4.12.
  • Fresh off a five-week vacation, lawmakers are returning to Washington today for a brief pre-election session. Congress is expected to act to prevent a federal government shutdown when the budget year ends on Sept. 30. At issue is a six-month temporary spending bill to finance day-to-day operations.

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