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Tuesday Morning Business Brief

May 13, 2014, 6:03 AM

Tuesday Morning Business Brief

Wall Street investors have regained their appetite for riskier stocks. Among the big gainers Monday were Twitter and Facebook, which had plunged in March and April. The Standard & Poor's 500 index rose 18.17 points to finish at an all-time high. The Dow also broke a record, gaining 112.13 points to end at 16,695.47. Futures point to a muted opening.

  • International stock markets rose today after Wall Street indexes hit record highs, with Japan's Nikkei 225 leading gains as the yen weakened. Benchmark crude oil was unchanged, remaining above $100.50 a barrel. The dollar gained against the yen and the euro.
  • The Commerce Department releases a pair of reports today. Retail sales data for April will come out at 8:30 a.m. Eastern time, followed by business inventories for March at 10 a.m. EDT.
  • The U.S. treasury secretary pressed China on Tuesday to ease exchange rate controls and lower barriers to trade and investment. In a statement, Jacob Lew says China should "demonstrate a renewed commitment to move to a more market-determined exchange rate." Lew is in Beijing to meet with Chinese economic officials.
  • A European court has ruled that Google must amend some search results at the request of ordinary people when they show links to outdated, irrelevant information. The ruling is considered an important test of the so-called "right to be forgotten." The Court of Justice of the European Union says Google has control of individuals' private data. Google argued that it doesn't. The court said users may approach Google to request links to personal data be removed.

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