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Tuesday Morning Business Brief

June 17, 2014, 5:45 AM

Tuesday Morning Business Brief

Investors will be listening for what the Federal Reserve has to say Wednesday when its policymaking committee wraps up its latest two-day meeting. Stocks ended in positive territory yesterday following news of another round of mergers and of U.S. homebuilders' outlook on the housing market had improved. Futures point to a higher opening today.

  • International stock markets are mixed as investors remain cautious ahead of a meeting by the Federal Reserve that's expected to give an update on forecasts for the world's No. 1 economy. European stocks rose in early trading while Asian shares were more subdued. Benchmark crude oil fell below $106.50 a barrel. The dollar gained against the yen and edged lower against the euro.
  • Home construction and consumer prices are due this morning. In April, construction surged to its highest pace in five months while higher food and gas costs pushed up prices by the most in 10 months, a sign that inflation is ticking up from extremely low levels.
  • General Motors has issued another recall, this one for 3.4 million cars. The latest problem is similar to one that led to an earlier massive recall of small cars and is linked to 13 deaths. GM will revise or replace the key to fix the latest problem, which also involves ignition switches slipping out of the "run" position. This is the 44th recall the auto giant has issued this year.
  • Universities, hospitals and arts institutions are benefiting from the generosity of wealthy donors. But donations to social service and church groups, which rely more from middle-class donors are flat. That's according to the latest comprehensive report on how Americans giver away their money. The pattern reflects that nation's widening wealth gap.

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