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Stocks closed lower on Wall Street Monday with investors worried about a controversial bailout plan for Cyprus. The Dow slid 62 points to 14,452 -- this after plunging as much as 110 points in the early going. The S&P 500 dropped over 8 ½ points to 1,552 and the Nasdaq finished fell close to 11 ½ points to close at 3,238. Futures auger slight gains at this morning's opening.
- International stock markets are mostly subdued ahead of a vote in Cyprus on a contentious measure to help fund the European country's bailout by taxing bank deposits. Early trading was lower in Europe while Asian stocks posted gains. Benchmark crude oil fell but remained above $93 per barrel. The dollar rose against the euro and the yen.
- The Senate is expected to approve a bipartisan full-year funding bill today and send it back to the House. Yesterday the legislation advanced on a procedural vote in the Senate despite opposition from Republicans who were denied chances to offer changes. The bill will likely clear the House later this week for President Barack Obama's signature.
- A law enforcement official says an FBI inquiry into bribery allegations against the Wall Street Journal remains open. Yesterday the Journal denied allegations by a purported whistleblower that it bribed Chinese officials to get information for news stories. Journal publisher Dow Jones confirmed Monday that U.S. officials informed the company of the allegations in 2012.
- The Federal Reserve is meeting today and tomorrow and will decide whether to keep interest rates at a record low. Economists expect regulators not to take their foot off the accelerator because even though the economy is strengthening, home prices are rising and retail sales are solid, the unemployment rate - at 7.7 percent - still isn't low enough.
