Morning Business Brief
July 27, 2010, 8:11 AM
- The Dow has now staged triple-point advances for three straight sessions. In the latest, it was up 101 points to 10,525. The S&P was rose 12 points and the Nasdaq gained 27 points.
- European stock markets mostly rose today. The FTSE 100 index of leading British shares was up 0.8 percent, while Germany's DAX rose 0.3 percent. The CAC-40 in France was 0.9 percent higher. Earlier in Asia, Hong Kong's Hang Seng closed up 0.6 percent, but Japan's benchmark Nikkei was off 0.1 percent. South Korea's Kospi Index fell by less than 1 point and China's Shanghai Composite Index declined 0.5 percent. Dow futures were up 0.4 percent.
- Oil prices hovered for a second day near $79 a barrel Tuesday in Asia as investors weighed a three-day stock market rally against signs of sluggish U.S. crude demand. Benchmark crude for September delivery was down 18 cents at $78.80 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract was unchanged to settle at $78.98 on Monday.
- BP confirms its much criticized CEO, Tony Hayward, will be replaced in October by American Robert Dudley. Hayward's repeated gaffes before the media ticked off many Gulf Coast residents. Hayward may be heading to Russia to work on the company's joint venture there.
- How are consumers feeling these days? The Conference Board provides a look today when it releases the monthly index covering consumer confidence.
© 2010 Associated Press. All rights reserved. Material may not be redistributed.