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Monday Morning Business Brief

January 27, 2014, 8:23 AM

Monday Morning Business Brief

The stock market is still facing some headwinds today as trading resumes. Slower growth in China, a gloomier outlook for corporate profits; and an end to easy money policies drove investors out of stocks and emerging markets last week and led them to stash money in safer assets like bonds. A two-day rout in global markets was capped Friday by a 318-point drop in the Dow. Futures point to a slight rebound at this morning's opening.

  • International stock markets were pummeled today by the possibility of slowing growth in China and a further reduction in U.S. central bank stimulus. The dollar fell against the euro and the yen. Benchmark crude oil rose above $97 a barrel.
  • The Commerce Department will release new home sales figures for December today. It's the only government report due out.  But there are plenty of corporate financial results for investors to study. Before the market opens, Caterpillar and Royal Caribbean Cruises will report quarterly earnings. After the closing bell, it's Apple and US Steel. Also LG Electronics reports today.
  • The latest survey finds businesses are optimistic about 2014 performance, but it's not translating into plans for more hiring. The National Association for Business Economics survey finds only 37 percent expect to create jobs in the next six months, and 43 percent expect their companies to modestly hike selling prices this year.
  • A data analysis done for The Associated Press finds that the face of food stamp recipients is changing. For the first time, working-age people, not children and the elderly, make up the majority in U.S. households that rely on food stamps. The analysis by economists at the University of Kentucky finds it's due in part to the slow recovery, high unemployment, stagnant wages and an increasing gulf between low-wage and high-skill jobs.

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