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Business News for Tuesday September 7, 2010
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Stocks set for lower start
Wednesday July 28, 2010
NEW YORK� -- U.S. stocks were poised for a rocky start Wednesday as economic woes hung over investors.

Dow Jones industrial average (INDU),S&P 500 (SPX)andNasdaq (COMP)futureswere narrowly lower ahead of the opening bell.

Futures measure current index values against perceived future performance.

Wall Street had a bumpy Tuesday, erasing earlier gains to end the session mixed after a drop in consumer confidence offset better-than-expected corporate earnings.

"Yesterday was indicative of the summer doldrums," said Mark Luschini, a chief investment strategist at Janney Montgomery Scott. "News on the economic front was soft, and we had pretty good earnings news, but none of this really pushed markets one way or the other."

"I don't expect much coming in the way of fireworks unless some company comes out and reports something unexpected or we get some economic data that investors really bite into, good or bad," he added.

Economy:Uncertainty about the economy has been weighing on markets, even as companies have turned in mostly positive earnings reports.

On Wednesday, investors will look to a report on durable goods orders, or goods meant to last three years or more. Economists expect orders to have risen 1% in June after falling 0.6% in May, according to a consensus estimate from Briefing.com.

The Federal Reserve's "beige book," a reading on the nation's 12 economic district, is due at 2 p.m.

Earnings: Among the slew of companies due to post their quarterly financial results Wednesday are Boeing (BA, Fortune 500), Coca-Cola Enterprises (CCE, Fortune 500) and Visa (V, Fortune 500).

World markets:European shares got off to a mixed start. In the early going, the CAC 40 in France rose 0.1%, while Britain's FTSE 100 fell 0.4% and Germany's DAX lost 0.5%.

Asian markets rallied. Japan's benchmark Nikkei index soared 2.7% and the Shanghai Composite climbed 2.3%.The Hang Seng index also finished the session with gains.

Currencies and commodities: The dollar was down versus the euro and the Japanese yen, but up against the British pound.

U.S. light crude oil for September delivery edged down 17 cents to $77.33 a barrel.

COMEX gold's August contract gained $4.30 to $1,162.30 per ounce.

Bonds: Treasury prices rose, and the yield on the 10-year note edged down to 3.04% from 3.05% late Tuesday. Bond prices and yields move in opposite directions.

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