NC: Firm U.S. stocks...World markets mostly lower...GDP due
NEW YORK (AP) — Stocks posted a modest advance in the latest session. The Dow rose 4 points to 11,990. The S&P gained 3 to just under 1,300. The Nasdaq rose nearly 16 points to 2,755.
BANGKOK (AP) — World stock markets were mostly lower today. Britain's FTSE 100 was down 0.7 percent, France's CAC-40 is down 0.6 percent and Germany's DAX shed 0.1 percent. Japan's Nikkei dropped 1.1 percent. Australia's S&P/ASX 200 closed down 0.7 percent. Hong Kong's Hang Seng fell 0.7 percent, but China's Shanghai Composite index gained 0.1 percent. Wall Street is headed for a lower opening, with Dow futures down 0.3 percent and S&P 500 futures losing 0.4 percent.
BANGKOK (AP) — Oil prices hovered below $86 a barrel today in Asia, dragged lower by weak economic and earnings news. Benchmark crude for March delivery was down 7 cents at $85.57 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract lost $1.69 to settle at $85.64 a barrel on Thursday and is down from nearly $93 a barrel last week.
WASHINGTON (AP) — Economists are expecting good news when the government reports on GDP Friday. They predict that economic growth rose at an annualized rate of 3.5 percent in the final quarter of last year. Stronger spending by consumers is expected to be the main factor behind the economy's better performance.
DAVOS, Switzerland (AP) — U.N. chief Ban Ki-moon (bahn kee-moon) says the current economic model is an environmental "global suicide pact" that will result in disaster if it isn't reformed. Ban Ki-moon told a panel at the World Economic Forum in Switzerland today that time is running out to make the global economy sustainable.