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Friday Morning Business Brief

November 30, 2012, 5:48 AM

Friday Morning Business Brief

Today's session on Wall Street could dictate whether this is an up or down week for Wall Street. In Thursday trading, the Dow added 37 points, the S&P was up 6, while the Nasdaq gained 20 points. Futures trading has been flat.

  • International stock markets eked out only marginal gains today as an immediate agreement among U.S. leaders to resolve a critical budget deadlock appeared unlikely. Benchmark crude oil fell below $88 per barrel. The dollar fell against the euro and rose against the yen.
  • A snapshot of Americans' pocketbooks is due today. The Commerce Department this morning releases personal income and spending figures for October.
  • The European Union's statistics office says unemployment in the 17 eurozone countries has set another record, rising to 11.7 percent in October. The increase from the previous month's 11.6 percent was anticipated in light of the eurozone's return to recession in the third quarter.
  • The German Parliament has approved a deal to keep Greece afloat financially and trim its debt load. The deal reached by European finance ministers Tuesday paves the way for Greece to receive $57 billion in critical rescue loans. It also includes measures including a debt buyback program and an interest rate cut on loans to reduce Greece's debts.

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