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Wednesday Afternoon Business Brief

September 26, 2012, 1:17 PM

Wednesday Afternoon Business Brief

Stocks have seen modest declines today, as investors have failed to see new reasons for optimism about the outlook. Even so, the pullbacks for the key averages have been slight.

  • Europe's recent relative financial calm was broken today. Police in Greece fired tear gas at rioters amid the biggest anti-austerity demonstration in months. Clashes were also seen after protests rocked Madrid in Spain.
  • The Commerce Department says new home sales fell 0.3 percent in August. But the median price of homes sold during the month rose by a record amount.
  • A survey released by the Business Roundtable says member CEOs are less enthusiastic about hiring over the next six months.  Many are worried about the impact of budget cuts and tax increases set to take effect at the beginning of next year.
  • Even though Apple owns the bulk of the tablet computing market, Barnes & Noble says it is rolling out two new Nook tablets with high-definition screens. Priced at $199 and $269, they run on Google's Android operating system.

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