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Wednesday Morning Business Brief

April 9, 2014, 5:34 AM

Wednesday Morning Business Brief

Investors are hoping Wall Street will stay in positive territory today following yesterday's gains. On Tuesday, the Dow Jones industrial average climbed 10.27 points, or 0.06 percent, to 16,256.14. The Nasdaq composite rose 33.23 points, or 0.8 percent, to 4,112.99. And the S&P 500 rose 6.92 points, or 0.4 percent, to 1,851.96. Futures point to extended gains this morning

  • Tokyo shares tumbled today as disappointment spread that the Japanese central bank didn't announce additional stimulus. Other international stock markets rose. Benchmark U.S. crude oil fell below $102.50 a barrel. The dollar gained against the yen and was little changed against the euro.
  • Comcast presents its case for a $45 billion takeover of Time Warner Cable today when executive vice president David Cohen testifies before the Senate Judiciary Committee. In documents filed with the Federal Communications Commission, Comcast says the deal will benefit consumers, providing faster Internet speeds and better video on demand service. It also maintains that the takeover won't limit competition.
  • The Commerce Department releases wholesale trade inventories for February this morning. And the Federal Reserve will provide a look inside its latest policy debate when it releases minutes from its March meeting. At that meeting, the Fed decided to continue trimming its monthly long-term bond purchases, while reaffirming its plan to keep short-term rates low to help support the economy.
  • Toyota Motor Corp. is recalling 6.39 million vehicles globally for a variety of problems spanning nearly 30 models in Japan, the U.S., Europe and other places. Two of the models are made in conjunction with other car builders. No injuries or crashes have been reported related to the recalls announced Wednesday. But two fires have been reported related to a defective engine starter that can keep the motor running.

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