User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


79° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Wednesday Morning Business Brief

June 11, 2014, 5:36 AM

Wednesday Morning Business Brief
NEW YORK -

Winning streaks may be for sports teams, but investors on Wall Street wouldn't mind seeing a market rally today. A run of record highs came to an end yesterday as the Standard & Poor's 500 index lost ground for just the second time this month. The slight loss broke a four-day string of all-time highs. The Standard & Poor's 500 index slipped 0.48 of point, or 0.02 percent, to close at 1,950.79 on a quiet day for trading. Futures point to sliding stocks this morning.

  • International stock markets turned skittish today after the World Bank lowered its global growth forecast for the year and a militant takeover of a key Iraqi city raised concerns. Benchmark U.S. crude oil rose above $104.50 a barrel. The dollar fell against the yen and inched ahead against the euro.
     
  • The World Bank downgraded its forecast for the global economy this year, citing a bitter American winter and the political crisis in Ukraine.  In an outlook released yesterday, the bank still expects the world economy to grow faster - 2.8 percent this year versus 2.4 percent in 2013. But its new estimate is weaker than the 3.2 percent expansion it had predicted in January.
     
  • China's largest e-commerce company is making its first appearance in the U.S. with the debut of 11Main.com, an invite-only online marketplace that showcases small business retailers. Industry watchers will be paying close attention since 11 Main is owned by Alibaba, the e-commerce giant in China that filed for an initial public offering in the U.S. in May. Bigger than Amazon and eBay combined, Alibaba had no U.S. e-commerce presence until now.
     
  • OPEC oil ministers are heading into a meeting today with apparent agreement to keep output at the current target of 30 million barrels a day. Venezuelan oil minister Rafael Ramirez says there is "consensus" among the 12-nation Organization of the Petroleum Exporting Countries to keep the status quo. The International Energy Agency, oil consultant to major consuming countries, sees short-term demand rising. But many OPEC members are at their production capacity limits. OPEC powerhouse Saudi Arabia has the ability to make up for any shortage.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

View business

You may also like

Sioux Falls No Longer Best Small City

7/25/2014 11:12 AM

Sioux Falls is no longer the nation's best small city for business and careers.

Full Story
Iowa Town Bracing For Closure Of Tyson Foods Plant

7/27/2014 3:31 PM

One small northwest Iowa town is preparing to deal with the loss of 450 jobs this fall when the Tyson Foods plant in Cherokee closes, and business own...

Full Story
Simply Mac Coming To Sioux Falls

7/28/2014 1:12 PM

Apple users will soon have another option for sales and service support.

Full Story
Dawley Farm Village Expands

7/25/2014 10:10 PM

If you don't live on the Sioux Falls east side, or haven't taken a drive over there lately, you may not have noticed all the new businesses.

Full Story | Watch
Sioux City Riverboat Casino Prepares For Last Day

7/30/2014 11:30 AM

The Argosy riverboat casino is preparing to take its last bets Wednesday, having told the Iowa Racing and Gaming Commission that it will close by 5 p....

Full Story


Events