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Tuesday Morning Business Brief

January 21, 2014, 5:37 AM

Tuesday Morning Business Brief

It's back to work for traders on Wall Street after the long holiday weekend. There are a slew of earnings reports due out today. Some of them could move the market. Investors were not impressed with earnings news on Friday. The S&P 500 slipped seven points, and the Nasdaq fell 21. The Dow rose 41 ½ points thanks to two companies, American Express and Visa. Futures point to a higher opening after a long weekend.

  • International stock markets rose today after China's central bank injected extra credit into its financial system, helping to offset concern about slower Chinese growth. Benchmark crude oil fell but remained above $94 a barrel. The dollar gained against the yen and was barely changed against the euro.
  • Although there are no government economic reports due out today, six large companies will release their quarterly financial results. Delta Air Lines, Halliburton, Johnson & Johnson, Verizon Communications and SAP AG will report earnings before the bell. IBM will report after the market closes.
  • Salt Lake City-based Overstock.com Inc. says it's the first major retailer to accept digital Bitcoins as payment for goods. The $1 billion company is tapping into a new market of buyers who use the online currency, and says other major retailers will lose market share if they don't follow suit. Bitcoin users buy digital money and can buy things online without having to enter their credit card information.
  • Tyson Foods, one of the world's largest meat-processing companies, says it's acquired the assets of Bosco's Pizza Co. of Warren, Mich. Bosco's produces a variety of stuffed bread sticks and frozen pizzas for food service and retail customers throughout the Midwest and at some national retailers. The company will become part of Tyson Foods' Prepared Foods division but continue to operate under the Bosco's name.

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