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Thursday Morning Business Brief

October 25, 2012, 5:33 AM

Thursday Morning Business Brief

Stocks posted modest losses in the latest session. The market is on track for a weekly decline following Tuesday's bruising session. In Wednesday trading, the Dow fell 25 points to 13,077. The S&P was down 4 points to 1,409. The Nasdaq slipped nearly 9 points to 2,982. The key averages are down 0.8 to 2 percent this week, with two more sessions to go. Futures trading suggest gains at this morning's open.

  • International stock markets mostly rose today as investors kept their sights on a possible improvement in China's economy. Benchmark crude oil rose above $86 per barrel. The dollar fell against the euro but rose against the yen.
  • The Labor Department today releases weekly jobless claims. Also, the Commerce Department has durable goods for September, while the National Association of Realtors reports on pending home sales for September.
  • Apple may have won big in a major U.S. patent infringement suit against Samsung but in Europe, not so much. A Dutch court has ruled that Samsung's Galaxy tablet computers don't infringe on an Apple patent for touch screen interfaces. British and German courts have also rebuffed Apple.
  • The European Central Bank says lending to businesses remains weak in the 17 countries that use the euro. It's seen as a further indication that banks remain concerned over deteriorating economic conditions in the wake of a sprawling government debt crisis.

Find the latest local business news on the Back to Business Page of KELOLAND.com.

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