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Wednesday Morning Business Brief

October 3, 2012, 5:38 AM

Wednesday Morning Business Brief

Stocks have failed to mount a rally this week, with the key averages ending mixed in Tuesday trading. The Dow slipped 33 points to 13,482. The S&P gained 1 point to 1,446, while the Nasdaq rose nearly 7 points to 3,120. Futures trading suggest a lower opening.

  • International stock markets fell today as skittish investors waited for a key U.S. jobs report later in the week that will signal whether the world's largest economy is on the mend. Benchmark crude oil was down but still over $91 per barrel. The dollar fell against the euro and rose against the yen.
  • How's the service sector of the economy doing? We should get a better idea about that when the Institute for Supply Management releases its monthly gauge later this morning.
  • A new review of the $20 billion supplement industry doesn't have a lot nice to say. The Department of Health and Human Services report concludes dozens of weight loss and immune system supplements on the market are illegally labeled and lack the recommended scientific evidence to back up their purported health claims.
  • American Airlines and its pilots' union have agreed to resume stalled contract negotiations. The union also said Tuesday that it will delay releasing results of a strike-authorization vote scheduled to end Wednesday.

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