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11/06/2009 7:29 AM

Morning Business Brief

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The Dow closed back above the 10,000 level in the latest session, with a 204 point advance. The S&P added 20 points to 1,067 and the Nasdaq gained 50 to 2,105. Wall Street futures point to a lackluster open Friday.
  • Asian markets advanced Friday on the back of Wall Street's rally but European stocks were little changed
    amid caution ahead of a key U.S. jobs report. Analysts say the U.S. report is expected to show unemployment in the world's largest economy rose to 9.9 percent last month.
  • Oil prices climbed toward $80 a barrel Friday in Asia as crude investors eyed a surge in global stock markets.  Oil traders often look to stock markets for a sense of overall investor sentiment. Crude investors are also watching signs in recent weeks of a drop in U.S. oil supplies, which increased sharply this year as demand shrank.
  • The Labor Department Friday releases the monthly unemployment report. Analysts look for the jobless rate to rise a-tenth to 9.9 percent. Some 175,000 jobs are expected to have been lost.
  • Despite signs of an economic revival gathering pace around the globe, it's not expected to translate to job growth anytime soon. Joblessness is still climbing in many of the world's largest economies. This week, the European Union forecast unemployment in the eurozone will rise to 10.7 percent in 2010 from
    9.5 percent this year. In the U.S., economists expect the October unemployment rate will tick up to 9.9 percent.
     





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