NEW YORK (AP) — Trading was light on Wall Street’s first work day of Christmas week, and it may well be the same today. The Dow ended yesterday down almost 3 points, or 0.02 percent, at 12,291. The S&P 500 was up a fraction while the Nasdaq composite rose more than 6 points, or 0.3 percent, to 2,625. Futures trading has been mixed.
BANGKOK (AP) — International stocks markets fell today, with trading thinned by year-end holidays and mixed economic news out of the U.S. and Japan. Asian trading was subdued while European stocks dropped in early trading. Benchmark crude oil hovered above $101 per barrel.
RIYADH, Saudi Arabia (AP) — A senior Saudi oil official says the Gulf Arab nations are prepared to offset any potential loss of Iranian crude in the world market. The comments come as Iran’s vice president said his country will close the Strait of Hormuz, cutting off oil exports, if Western nations impose sanctions on Iran’s oil shipments. Roughly a sixth of the world’s oil moves through the strait.
UNDATED (AP) — No major economic reports today. This morning, the Mortgage Bankers Association releases its weekly application survey. And this afternoon, the American Petroleum Institute releases its weekly bulletin on gasoline production and inventories.
PORTLAND, Maine (AP) — Maine scallop fishermen expect to get record prices for their catch this season with strong global demand and a diminished supply from Japan and other competing, scallop-producing nations. One sefood company owner says the weak U.S. dollar also is helping boost prices.
Copyright 2011 The Associated Press.