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Wednesday Morning Business Brief

October 5, 2011, 5:46 AM

Wednesday Morning Business Brief
A late-day surge gave stocks a lift on Wall Street. The Dow gained 153 points to 10,809. The S&P was up 25 points, or 2.3 percent. The Nasdaq gained 69 points.
  • Stocks in Europe are recouping some of their recent losses Wednesday on hopes that European policymakers are thrashing out a plan to shore up the banking sector. But In Asia, Japan's Nikkei closed down 0.9 percent and Korea's Kospi index was down 2.3 percent. Markets in Hong Kong and mainland China were closed for a holiday.
  • A couple of privately compiled readings on the job market are due early this morning. Later, the Institute for Supply Management releases its index covering the nation's services sector.
  • The Obama administration wants to speed up permitting and construction of seven proposed electric transmission lines in 12 states. It's part of an effort to create jobs and modernize the nation's power grid. The lines will provide electricity in Arizona, Colorado, Idaho, New Mexico, Nevada, Oregon, Utah, Wyoming, New Jersey, Pennsylvania, Minnesota and Wisconsin.
  • Greek civil servants have walked off the job on a 24-hour strike, paralyzing the public sector. It's a protest against deeper austerity measures as the government struggles to avoid a catastrophic default. Air traffic controllers have joined the strike, grounding all flights to and from Greek airports.
     

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