Morning Business Brief
July 28, 2010, 7:36 AM
- Wall Street took pause after a recent rally, sending the Dow up 12 points in the latest session. The other key averages slipped a bit, with the S&P down 1 and the Nasdaq dropping 8 points.
- The Federal Reserve today releases its Beige Book economic survey. During his recent testimony, Fed Chairman Ben Bernanke said the economy still needs stimulus spending to support the recovery.
- Asian stocks pushed higher today thanks to strong corporate earnings in the region, and signals of an improving European economy. That helped outweigh concerns about fading consumer confidence in the U.S. Japan's Nikkei index gained 2.3 percent jump to almost 9,714.
- The International Monetary Fund says China's yuan is undervalued, but is praising Beijing's response to the global crisis. China's central bank announced in June that it would allow a more flexible exchange rate. Private sector analysts expect the yuan to gain in value over time.
- Panasonic has unveiled the first 3-D camcorder for families. It looks much like a regular digital camcorder, but with a slightly bigger 3-D "conversion" lens. The camcorder with lens starts at about $2,000. It goes on sale in Japan Aug. 20, and will reach overseas markets later this year.
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