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Monday Morning Business Brief

March 10, 2014, 5:47 AM

Monday Morning Business Brief

As a new week of trading starts, investors will be closely watching the latest developments in Ukraine. The stock market ended mixed on Friday, despite a positive February jobs report. The S&P 500 index closed up a point to 1,878. The Dow rose 31 points to 16,452 and the Nasdaq lost 16 points to 4,336. On the whole, the overall tone of the market was slightly negative. Futures point to subdued trading as the week begins.

  • Asian stock markets sank today, battered by weak Chinese trade and a reduced estimate for Japan's economic growth. European markets were mostly higher in early trading. Shares in Malaysia Airlines tumbled. Benchmark U.S. crude oil fell more than a dollar to hang below $101.50 a barrel. The dollar gained against the yen and fell against the euro.
  • There are no government reports due out today. But tomorrow, the Commerce Department will report on January's wholesale trade inventories and the Labor Department will release its job openings and labor turnover survey for January.
  • Japan racked up a record current account deficit in January, and lowered its growth estimate for the October-December quarter today in the latest sign of hardships for the world's third-largest economy. Japan's current account deficit totaled 1.589 trillion yen ($15 billion), the biggest for January since comparable records began in 1985, according to the Finance Ministry.
  • Comcast Corp. will invest hundreds of millions of dollars in California and Florida theme parks, stepping outside its core business of telecommunications in an effort to boost revenue and profits. In a story published Sunday, The Philadelphia Inquirer said recent moves by the Philadelphia-based, cable-TV company represent a challenge to the Walt Disney Co.'s tourism business in Orlando. Comcast took over Universal Orlando Resorts as part of its NBCUniversal acquisition in 2011.

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