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Wednesday Evening Business Brief

April 11, 2012, 6:37 PM

Wednesday Evening Business Brief

Investors staged a recovery a day after the big stock market sell-off. The Dow was up 0.7 percent or 89 points to 12,805. The S&P was up 10, while the Nasdaq gained 25 points. 

  • The Federal Reserve's survey of business conditions suggests last month's pullback in hiring may prove to be temporary. The Beige Book shows each of the Fed's 12 bank districts grew steadily from mid-February through April 2. Hiring was stable or increased in most of the country.
  • The Justice Department and 15 states have sued Apple and some major book publishers. They allege a conspiracy to raise the price of electronic books they said cost consumers more than $100 million in the past two years by adding $2 to $5 to the price of each e-book.
  • The U.S. budget deficit is running slightly lower than last year's through the first six months of the budget year but is still on track to top $1 trillion for a fourth straight year. The Treasury Department says the spending gap stood at a record in March of $198 billion.
  • U.S. safety regulators are widening their investigation into complaints of fires in Jeep Wrangler SUVs. The National Highway Traffic Safety Administration hasn't figured out what caused the fires, but it's asking carmaker Chrysler for information on Wranglers from the 2007 through 2012 model years.

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