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Quiet start to Wall Street trading week...Labor turnover, consumer credit data due

Tuesday - 5/7/2013, 7:40am  ET

NEW YORK (AP) -- Bank of America led a rally in big-bank stocks yesterday, but the trading week is off to a quiet start on Wall Street. News that Bank of America and bond-insurance company MBIA have reached a settlement over a long-running dispute propelled both companies' stocks higher. MBIA soared 45 percent, while Bank of America gained 5 percent, to pace the Dow. However, the bluechip index slipped 5 points to close just below 14,969. The S&P 500 crept up a little more than 3 points to 1,617.50. The Nasdaq added 14 points to 3,393. Wall Street appears headed for a mixed opening this morning.

BANGKOK (AP) -- Cheer over the better-than-expected U.S. jobs report has faded, sending International stock markets into a muted performance. Benchmark crude oil fell to hover above $95 per barrel. The dollar fell against the yen and was little changed against the euro.

WASHINGTON (AP) -- It's a slow day for economic data. The Labor Department releases its job openings and labor turnover survey for March this morning, while the Federal Reserve releases consumer credit data for March this afternoon.

SAN FRANCISCO (AP) -- Microsoft is retooling the latest version of its Windows operating system to address complaints and confusion that have been blamed for deepening a slump in personal computer sales. The tune up announced today won't be released to consumers and businesses until later this year. The changes are a tacit acknowledgment of the shortcomings in Windows 8 that critics had pounced on.

BERLIN (AP) -- France's finance minister says the European Union's decision to grant his country more time to tackle its deficit marks a turning point in the region's approach to austerity. The minister says cutting budget deficits remains important but the 27-nation bloc must now become more growth-friendly. Austerity critics say austerity was choking off growth.


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