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Thursday Morning Business Brief

August 9, 2012, 5:59 AM

Thursday Morning Business Brief

Wall Street's recent rally took a breather Wednesday. The Dow added 7 points to 13,176. The S&P was down a fraction, while the Nasdaq dropped 5 points. Futures trading suggests a higher opening today.

  • International stock markets posted muted gains today after China's inflation rate eased, adding to hopes that Beijing will do more to stimulate the world's No. 2 economy. Benchmark crude oil fell slightly, hovering above $93 per barrel. The dollar gained against the euro and was unchanged against the yen.
  • Weekly jobless claims are on today's economic calendar. Also, the Commerce Department releases new trade figures.
  • New data show banks repossessed fewer homes in July than in the same month last year. Foreclosure listing firm RealtyTrac also finds that more U.S. homes started on the foreclosure path last month, as lenders tackled a backlog of mortgages gone unpaid.
  • The staggering financial crisis in Greece continues to take its toll on workers. Greece's statistical agency says unemployment has risen to a startling 23.1 percent in May - up from 16.8 percent a year earlier. An agency statement today says the worst affected group is young people under 25, where 54.9 percent are out of work.

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