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Tuesday Morning Business Brief

April 15, 2014, 6:14 AM

Tuesday Morning Business Brief

Investors are hoping to recover ground lost after a rough finish last week. U.S. stocks mounted a modest rally yesterday, with the Dow Jones industrial average adding 146.49 points, or 0.9 percent, to close at 16,173.24. The S&P 500 14.92 points, or 0.8 percent, to close at 1,830.61. And the Nasdaq composite rose 22.96 points, or 0.6 percent, to 4,022.69. Futures point to a lower opening this morning.

  • International stock markets were mixed today as jitters about China's economy overshadowed a perk from strong U.S. data and earnings. The dollar inched up against the yen and gained against the euro. Benchmark U.S. crude oil fell to just above $103 a barrel.
  • The Labor Department releases the Consumer Price Index for March this morning. Inflation at the consumer level has been tame for the past year. The Treasury Department releases data on international money flows and the National Association of Home Builders releases it housing market index for April. Some corporate earnings reports are also due.
  • The European Parliament is set to approve completion of the biggest overhaul of the bloc's financial system since the introduction of the euro currency. Lawmakers in Strasbourg are slated to approve the establishment of a European authority to unwind or restructure failing banks as well as new rules designed to prevent any further bailouts with taxpayer money. Parliament is also expected to pass legislation protecting all deposits of up to 100,000 euros ($138,000).
  • A hot market for initial public offerings may soon face a cooler reception. IPOs are having their best start to a year since 2000. But demand for more offerings depends largely on the health of the broader market, and after last week's sell-off, analysts say the clamor from buyers may quiet down.

 

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