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Morning Business Brief

August 4, 2011, 5:59 AM

Morning Business Brief
Wall Street yesterday broke an eight day losing streak for the Dow. The index climbed 30 points to 11,896. The S&P was up 6, while the Nasdaq added 24 points. 
  • The Labor Department today releases new claims for unemployment benefits, a weekly snapshot of the job market. That's ahead of Friday's monthly unemployment report from the government. Also today, retailers report their chain store sales numbers for the month.
  • Kraft Foods plans to split into two publicly traded companies, with one concentrating on snacks while the other focuses on the North American grocery business. Kraft says it plans for the split to be complete by the end of next year.
  • Japan's stock market inched higher Thursday after finance authorities intervened to stem the yen's export-sapping rise against the dollar. Other Asian markets were mostly lower while European stock opened higher.
  • Sony's next-generation portable game machine, the PlayStation Vita, won't be going on sale in the U.S. or Europe in time for Christmas, which is a key period for game-console makers. Sony says it wants to be ready with solid game software offerings.

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