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Friday Morning Business Brief

January 11, 2013, 5:56 AM

Friday Morning Business Brief

Will the Standard and Poor's 500 stocks perform well again today? The S&P closed at another five-year high yesterday after the stock market got a boost from reports suggesting the outlook for economic growth may be improving. The S&P rose 11 points to 1,472.12, its highest close since December 2007. The Dow ended up nearly 81 points and the Nasdaq composite rose 16. Wall Street futures this morning are flat.

  • While most international stock markets were lackluster, Japan's Nikkei jumped Friday after Prime Minister Shinzo Abe announced a massive stimulus package.  Oil prices are edging down following a rise in China's inflation.
  • The Commerce Department releases international trade data for November today. And the Treasury releases the federal budget for December. Also, Wells Fargo reports quarterly financial results.
  • American Express says it will slash roughly 5,400 jobs, mainly in its travel business, as it seeks to cut costs and transform its operations as more of its customers shift to online portals for booking travel plans and other needs. The job cuts will be partly offset by jobs that the company expects to add this year.
  • Nissan will assemble its Murano crossover vehicle in its Mississippi plant beginning in late 2014. The Japanese automaker says it will add 400 jobs to its current total of more than 5,000. Nissan won't say how much it will spend to start making Muranos there. Mississippi Gov. Phil Bryant says the state isn't offering additional incentives.

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