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Tuesday Morning Business Brief

January 15, 2013, 6:01 AM

Tuesday Morning Business Brief

Investors have been waiting for more corporate earnings reports, and that led to a mixed finish on Wall Street yesterday. The Dow gained 19 points to finish at 13,507. But Apple held down the S&P 500 and the Nasdaq, falling 4 percent on a report that it has cut its orders for iPhone 5 components due to weak demand. The S&P 500 lost a point to end at 1,470, while the Nasdaq fell eight points to 3,117. Futures trading suggests a lower opening this morning.

  • Japan's stock market closed at its highest level since April 2010 today, but other investors sat on the sidelines or sold shares to rake in profits ahead of the release of U.S. retail sales for December and fourth-quarter corporate earnings. Benchmark crude oil fell below $94 per barrel. The dollar gained against the euro and fell against the yenh.
  • The Commerce Department offers a last look at the 2012 holiday shopping season this morning when it releases retail sales data for December. It also has its report on business inventories for November. Also this morning, the Labor Department releases its producer price index for December. Wholesale prices fell in October and November.
  • Whatever Facebook's big secret is, it'll be revealed today at a "press event." Some speculation centers on a more robust search feature that would intensify the competition between the social networking giant and its rival Google Inc. Last week, Facebook invited bloggers and journalists to "come see what we're building."
  • China's population of Internet users rose 10 percent last year to 564 million even as communist authorities tightened controls on content. Data released today shows that, driven by a surge in mobile Web surfing, the country added 51 million new Internet users, a number bigger than the population of Spain.

You can find more business news on the Back to Business page of KELOLAND.com.

This article has been revised to reflect the following correction:
A misspelling was corrected in this story.

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