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Tuesday Morning Business Brief

April 10, 2012, 9:43 AM

Tuesday Morning Business Brief

A losing streak for the blue chip averages has been extended to four sessions, and today's trading will dictate whether it is extended to five. The Dow fell 131 points, or 1 percent, in Monday trading, to finish at 12,930. The S&P slipped 16 while the Nasdaq lost 33 points. Futures trading suggests a higher open today.

  • International stock markets are mostly lower today as a four-day slump in U.S. markets sparked by concern about the strength of the world's biggest economy weighed on investor confidence. Benchmark crude oil was off but hovered above $102 a barrel. The dollar slipped against the yen but was little changed against the euro.
  • On today's economic calendar, the Commerce Department releases figures on wholesale trade for February. Also, the Labor Department has figures on job openings and turnover for February later this month.
  • Sony says the news is worse than originally thought and the electronics company is facing its worst loss ever. Sony today more than doubled its projected net loss for the fiscal year through March to $6.4 billion. News reports yesterday said Sony would cut about 10,000 jobs over the next year.
  • Earnings reporting season kicks off today as Dow component Alcoa reports its numbers after today's closing bell on Wall Street. Analysts expect the aluminum manufacturing giant to post a loss reflecting slower demand in key markets Europe and China.

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