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Friday Morning Business Brief

October 12, 2012, 5:52 AM

Friday Morning Business Brief
Galaxy S III

Stocks would have to rally strongly today to make this week a winning effort. Coming into today's session, the key averages are down 1.9 to 2.8 percent. Futures trading suggest gains this morning.

  • International stock markets are mixed in Asia today with European stocks down in early trading. U.S. jobless claims fell sharply yesterday but analysts say more data is needed to confirm an improvement in the world's No. 1 economy. Benchmark crude oil rose to continue above $92 per barrel. The dollar fell against the euro but rose against the yean.
  • Before the opening bell on Wall Street, investors will get a look at a gauge of inflation at the wholesale level. The Labor Department releases the Producer Price Index for September.
  • The head of the International Monetary Fund says the pace of work on bringing down global debt should be tempered by spending to help get the unemployed back to work. Christine Lagarde also told finance leaders at the IMF and World Bank annual meeting in Tokyo that countries should not sacrifice growth for the sake of austerity. She says she's optimistic about a global recovery.
  • Samsung has unveiled a smaller and cheaper version of the Galaxy S III smartphone with the same screen size as the iPhone 5. Samsung says the Galaxy S III mini features a screen measuring 4 inches diagonally, smaller than the Galaxy S III's 4.8 inch display but the same as Apple's iPhone 5, which was Apple's first upgrade of the iPhone screen size. No word on the U.S. launch date.

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