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Monday Morning Business Brief

May 12, 2014, 5:41 AM

Monday Morning Business Brief
NEW YORK -

Stock traders are getting mixed messages from first quarter earnings reports and that's leaving them without clear direction. The Dow Jones industrial average edged up 32 points on Friday, closing at a record 16,583. That narrowly beat its last record high of 16,580 set on April 30. The S&P 500 rose 3 points to 1,878 and the Nasdaq composite rose 20 points to 4,071. Futures poiStock traders are getting mixed messages from first quarter earnings reports and that's leaving them without clear direction. The Dow Jones industrial average edged up 32 points on Friday, closing at a record 16,583. That narrowly beat its last record high of 16,580 set on April 30. The S&P 500 rose 3 points to 1,878 and the Nasdaq composite rose 20 points to 4,071. Futures point to a higher opening today.

  • International stock markets were mixed today after a rebound in U.S. tech stocks pushed the Dow Jones industrial average to a record close. Benchmark crude oil rose above $100 a barrel. The dollar gained against the yen and was stable against the euro.
  • Investors won't be working on a lot of new information today as the stock market begins another week of trading. There's only one government report slated for release. It's April's federal budget from the Treasury Department.  But as the earnings season nears its end, Chrysler will report quarterly financial results before the market opens today.
  • Nissan's quarterly profit edged up nearly 5 percent as sales grew around the world and a favorable exchange rate helped earnings. Nissan Motor Co. reports today that January-March profit totaled 114.9 billion yen ($1.1 billion), up from 109.7 billion yen the year before. Quarterly sales rose more than 20 percent to 3.2 trillion yen ($31 billion).
  • Congressional investigators say the government has failed to inspect thousands of oil and gas wells it considers potentially high risks for water contamination and other environmental damage. The report from the Government Accountability Office, obtained by The Associated Press before its public release, highlights substantial gaps in oversight amid an energy boom in the country and the increasing use of hydraulic fracturing, or fracking, which opponents say can pollute drinking water supplies.nt to a higher opening today.WASHINGTON (AP) - Investors won't be working on a lot of new information today as the stock market begins another week of trading. There's only one government report slated for release. It's April's federal budget from the Treasury Department.  But as the earnings season nears its end, Chrysler will report quarterly financial results before the market opens today.WASHINGTON (AP) - Congressional investigators say the government has failed to inspect thousands of oil and gas wells it considers potentially high risks for water contamination and other environmental damage. The report from the Government Accountability Office, obtained by The Associated Press before its public release, highlights substantial gaps in oversight amid an energy boom in the country and the increasing use of hydraulic fracturing, or fracking, which opponents say can pollute drinking water supplies.

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