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Tuesday Morning Business Brief

June 5, 2012, 6:02 AM

Tuesday Morning Business Brief

Today's trading session on Wall Street will test whether the relative calm seen Monday can continue. The Dow fell 17 points, or 0.1 percent, while the S&P was ahead a fraction and the Nasdaq gained nearly 13 points.

  • World stock markets are faltering today and Wall Street appears headed for a slight pullback. This comes ahead of an emergency conference call of finance ministers and central bank presidents from the world's seven industrialized powers to discuss Europe's worsening debt crisis.
  • Oil is below $84 a barrel in Asia today, wavering near an eight-month low as doubts remain over Europe's economic crisis. Benchmark oil for July delivery had dropped 25 cents to $83.73 per barrel in electronic trading on the New York Mercantile Exchange.
  • There's just one report on the economic radar screen in the U.S. today. The Institute for Supply Management releases its service sector report.
  • South Korea's president is warning that the country's economy may grow more slowly later this year. President Lee Myung-bak told his Cabinet today that jobs rely on exports, which were down for a third straight month in May. South Korea is Asia's fourth-largest economy.

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