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Tuesday Morning Business Brief

September 6, 2011, 8:35 AM

Tuesday Morning Business Brief
Investors are returning from a long weekend probably wondering what happens next. Stocks lost all of their week's gains Friday because of a poor jobs report, stoking fears of another recession. The Dow ended with a 253 point drop, and begins the week at 11,240. The S&P stands at 1,174, while the Nasdaq is at 2,480. Futures trading suggests more losses at this morning's open.
  • Asian stock markets fell today but European exchanges appear to be regaining their equilibrium after several tumultuous trading sessions sparked by the bleak U.S. jobs picture. Oil slid below $84 a barrel amid expectations that continued weakness in developed economies will crimp demand for crude.
  • World Bank President Robert Zoellick says the U.S. economy will likely limp along with slow growth and high unemployment but avoid a recession. Zoellick told reporters today in Singapore that Europe's debt crisis is a far more imminent challenge.
  • It's a light day for economic reports. The Institute for Supply Management is out with it's August service sector index later this morning. Tomorrow, the Fed releases its "Beige Book" survey of economic activity across its 12 regions.
  • Law enforcement officials say thieves have caught on to the skyrocketing value of gold. Police nationwide are seeing an uptick in robberies and burglaries related to gold prices, which peaked at $1,891 an ounce last month, up more than $600 from a year earlier.

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