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Dow nears a record...US home construction numbers on the way

Wednesday - 2/20/2013, 7:40am  ET

NEW YORK (AP) -- The markets on Wall Street open this morning with the Dow approaching an all-time high. Yesterday the Dow rose 54 points to close at 14,036. All it would take now is one good day to push the average above 14,164, the record high reached in October 2007. The S&P 500 gained 11 points to close at 1,531 and the Nasdaq gained 22 points to 3,214. Wall Street appears headed for gains this morning.

BANGKOK (AP) -- International stock markets picked up steam today, driven higher by reports that another big corporate takeover might be in the works in the U.S. Benchmark oil fell to hover above $97 per barrel. The dollar fell against the euro and the yen.

WASHINGTON (AP) -- We'll find out today if the momentum in home construction has continued into the new year as the Commerce Department releases housing starts and building permits for January. The last report showed builders started work on homes in December at the fastest pace since 2008.

SEATTLE (AP) -- Two groups of Boeing employees have split on a proposed new contract. Engineers have accepted the four-year deal while technical workers rejected their offer and voted to authorize a future strike. The union representing both groups had recommended rejection of the contract because it would not provide pensions to new employees.

DETROIT (AP) -- Detroit's finances have essentially been declared a disaster area and may wind up out of the city's hands. Michigan's governor has 30 days to decide if Detroit needs an emergency manager to take charge of its finances and spending, and come up with a new plan to get the city out of its financial mess.

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