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Tuesday Morning Business Brief

August 21, 2012, 6:04 AM

Tuesday Morning Business Brief

It could be another quiet trading day. The Dow has traded in a narrow range the past two trading sessions and volume has been relatively light. The Dow Jones industrial average begins the day at 13,272 after losing three and-a-half points yesterday. The Standard & Poor's 500 was off a fraction of a point yesterday and now stands at 1,418. The Nasdaq composite index was also down fractionally at 3,076. Futures trading suggests opening gains today.

  • International stock markets are mixed today on renewed uncertainties over the European debt crisis, after a short-lived rally in Asia driven by the Chinese central bank's move to ease tight liquidity through open market operations. Benchmark crude oil rose to near $97 per barrel. The dollar fell against the euro and was nearly unchanged against the yen.
  • The jury in one of the biggest technology disputes in history is expected to hear closing arguments today from lawyers for Apple and Samsung. Apple accused Samsung of copying iPhone and iPad technology. Samsung lawyers countered that others had previously developed much of the technology at issue.
  • Apple begins the day as the most valuable company in history. It now has a market cap of more than $623 billion after gaining more than 17 dollars a share yesterday to close at $665.15. Apple is now worth almost twice as much as the next most valuable company, Exxon Mobil.
  • The nation's largest consumer electronics chain reports its quarterly earnings today, a day after naming a new CEO. Analysts say it will take Hubert Joly several years to turn the ailing retailer around. Best Buy stock was down ten percent yesterday.

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