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Tuesday Morning Business Brief

January 28, 2014, 5:34 AM

Tuesday Morning Business Brief

Investors are hoping that today won't be a repeat of yesterday on Wall Street. Stocks slipped across the board, but the declines were much less than on Friday, when the U.S. market ended its worst week since 2012. On Monday, the Dow Jones industrial average slipped 41.23 points, or 0.26 percent, to 15,837.88. The S&P 500 fell 8.73 points, or 0.5 percent, to 1,781.56. And the tech-heavy Nasdaq was down the most in the U.S., falling 44.56 points, or 1.1 percent, to 4,083.61. Futures point to a bounce back at this morning's opening.

  • International stock markets stabilized today. Selling pressure eased after several days of steep losses and investors shifted to a holding pattern ahead of a Fed decision on scaling back stimulus. The dollar gained against the euro and the yen. Benchmark crude oil rose above $96 a barrel.
  • Fed policymakers take a fresh look at interest rates today, as they begin another one of their regular 2-day meetings. Meanwhile, the Commerce Department releases durable goods for December. That's followed by Standard & Poor's release of the S&P/Case-Shiller index of home prices for November. Also from the private sector comes the Conference Board's assessment of consumer confidence for January. There's a relatively long list of quarterly earnings results.
  • The International Monetary Fund is urging the 18-nation Eurozone to press ahead with its planned banking union reforms to lay the foundation for fresh growth and job creation. IMF chief Christine Lagarde says the bloc must reinforce its institutions to stabilize its financial market and reduce "the very damaging link" of failing banks dragging down weaker governments' finances.
  • Google Glass is getting glasses. Google is adding prescription frames and new styles of detachable sunglasses to its computerized, Internet-connected goggles known as Glass. The add-ons will cost extra. Glass is supposed to become commercially available later this year.

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