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Wednesday Morning Business Brief

September 21, 2011, 5:39 AM

Wednesday Morning Business Brief
Stocks were rallying strongly, and then faded by the closing bell on Wall Street. The Dow gained 8 points to 11,409. The S&P was down 2 points, while the Nasdaq fell 23 points.
  • The Federal Reserve today winds up a two-day policy-setting session. The central bank is being closely watched for any signs that it might try something new to help the struggling U.S. economy.
  • A fresh reading on the housing market is due today. The National Association of Realtors issues its report on sales of previously-owned homes for August.
  • Greece's finance minister says the country will have to enact a new round of austerity measures as it tries to secure another billion bailout from international lenders. Inspectors from the European Central Bank, the International Monetary Fund and the European Commission want Greece to most faster in reducing the size of its public sector.
  • Most Asian stock markets posted gains today, but European shares have been falling. None of the moves have been dramatic. Investors remain concerned about the debt situation in Eurozone countries.

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