Wall Street Wrap for 10 September 2010

Wall Street Wrap for 10 September 2010

US markets ended up on Friday. Moving the markets included news that wholesale inventories rose 1.3% in July, up from an upwardly revised 0.3% in June.

And President Obama is continuing to push for a $350-billion jobs recovery plan that includes tax breaks for businesses and spending in infrastructure. The proposed plan is stalled in Congress.

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In corporate news, shares of Nokia rose almost 2% after it announced that it would hire Stephen Elop, the head of Microsoft’s business division, as its CEO.

In world markets, Asian indices ended higher after Japan announced a $10.9 billion stimulus package to help increase employment, consumer spending and corporate investment. European markets ended mixed.

Oil futures for October delivery climbed $2.20 to $76.45 a barrel. Prices rose partially as a result of reports of a pipeline leak in California.

Gold for December delivery fell $4.40 to $1,246.50 an ounce.

The yield on the 10-year bond went up to 2.8% from 2.76% on Thursday.

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