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Monday Morning Business Brief

August 25, 2014, 6:24 AM

Monday Morning Business Brief
NEW YORK -

Investors are hoping the stock market will pick up steam this week. It paused on Friday, following four days of gains. The Dow Jones industrial average fell 38 points to 17,001. The S&P 500 index lost four points to close at 1,988. But the broad-based index rose 1.7 percent for the week. The Nasdaq composite added six points on Friday to end the day at 4,538. Futures point to opening gains this morning.

  • International stock markets are mostly higher today after top central bankers in Europe and Japan said support for their economies would continue and additional help is possible. London markets are closed for a holiday The dollar gained against the euro and the yen. Benchmark U.S. crude oil fell but remains above $93.50 a barrel.
     
  • Investors will focus on housing during the first two days of the week. The government will report today on new homes sales in July. On Tuesday, Standard & Poor's will release S&P/Case-Shiller index of home prices for June and the second quarter. Also, the government will release durable goods numbers for July and the Conference Board will issue its Consumer Confidence Index for August.
     
  • A new survey finds a majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy. The National Association of Business Economists survey shows that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years.
     
  • The travel industry got fee-happy coming out of the recession and now hotels are catching up with car rental companies and airlines. A new study released today by New York University professor Bjorn Hanson predicts hotels will take in a record $2.25 billion in revenue from fees this year, 6 percent more than in 2013 and nearly double that of a decade ago. Nearly half of the increase can be attributed to new surcharges and higher existing fees.

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