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Thursday Morning Business Brief

January 17, 2013, 6:18 AM

Thursday Morning Business Brief

Investors will have more bank earnings reports to digest when the market opens today. Yesterday, Boeing's problems with its 787 Dreamliner kept the Dow in negative territory. The bluechip index lost 24 points to close at 13,511. The S&P gained a fraction, while the Nasdaq climbed seven points.

  • Air safety authorities around the world are joining the U.S. and Japan in grounding Boeing's 787 Dreamliners as an investigation proceeds into problems with possible battery fires. A Japanese safety inspector tells broadcaster NHK that the main battery beneath the cockpit of the All Nippon Airways 787 that was forced to make an emergency landing was found to be swollen from overheating and had leaked electrolyte. The United Airlines is the only U.S. carrier using the plane.
  • Stocks haven't been moving much overseas today. Investors appear to be waiting for the next batch of U.S. corporate earnings to see if they might provide further momentum to the rally that has pushed many indexes to multi-year highs. In Europe, France's main index was higher today, while the benchmarks in Germany and Britain are down slightly. Earlier in Asia, Japan's Nikkei closed with a small gain.
  • More of the nation's big banks issue their fourth quarter financial results today, including Bank of America, Capital One and Citigroup. Meanwhile, the Labor Department reports last week's initial jobless claims, and the Commerce Department releases housing starts for December.
  • Lenders are seizing fewer U.S. homes and are opting to let more borrowers sell their properties for less than they owe. The foreclosure listing firm RealtyTrac says there were 671,251 foreclosures nationwide last year. That's down 17 percent from the year before. But Realty Trac also says in half the states in 2012, there were more borrowers receiving at least their initial default notice.

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