Morning Business Brief
August 10, 2010, 8:18 AM
- Stocks rose in advance of today's Federal Reserve meeting. The Dow was up 45 points to 10,698. The S&P gained 6 points, while the Nasdaq added 17 points.
- The nation's central bank is widely expected to leave interest rates unchanged at today's meeting. The Fed's official statement will be scoured for any other changes that would be aimed at giving the economic recovery a boost.
- The Labor Department this morning reports on second-quarter productivity. Analysts expect a gain of just 0.1 percent. That would be down from the rate of 2.8 percent seen in the prior quarter. Also due today, a reading on wholesale inventories for June.
- House Democrats are convening an emergency session today to pass a bill aimed at saving hundreds of thousands of teachers and other public workers from unemployment. The one-day session also may address lax border security - with passage of a $600 million bill to increase surveillance along the U.S.-Mexican border. Both bills have cleared the Senate.
- BlackBerry services can continue in Saudi Arabia. The kingdom today is citing "positive developments" with the device's Canadian maker toward finding a compromise about security concerns. That means the ban threatened on Friday has been staved off--at least temporarily.
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