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Tuesday Morning Business Brief

March 12, 2013, 5:38 AM

Tuesday Morning Business Brief

The Dow will open today on a streak of seven straight days of gains. Monday the blue-chip index rose 50 points to end the day at 14,447, an increase of 0.3 percent. Boeing was the Dow's top stock, surging 2 percent amid reports a Boeing executive said he's confident the aircraft maker had figured out a fix for the battery problems that have grounded the 787 Dreamliner. The S&P 500 edged up over 5 points to close at 1,556 and the Nasdaq added 8 ½ points to 3,253. Futures trading suggests a lower opening today.

  • International stock markets edged off recent highs in uneven trading today as worries grew about China's recovery and Europe's doldrums. Benchmark crude oil fell below $92 per barrel. The dollar gained against the euro but fell against the yen.
  • The Labor Department is set to release the job openings and labor turnover survey for January this morning. The report for December showed employers advertised fewer jobs and cut back on hiring.
  • The Treasury Department says it's sold almost $490 million worth of General Motors common stock last month, shedding more of its stake in the Detroit automaker. The report says the government has recovered about $30 billion of its $49.5 billion bailout of GM. That means taxpayers are still nearly $20 billion in the hole.
  • The Commerce Department reports February retail sales figures tomorrow. Economists surveyed by FactSet forecast that retail sales rose 0.2 percent in February, only slightly better than January's 0.1 percent increase. It suggests Americans spent cautiously in February, balancing a surge in hiring against higher taxes and gas prices.

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