Sep 12, 2014 6:32 AM

Investors looking for direction...Retail sales and business inventory data due

The Associated Press

HONG KONG (AP) International stock markets struggled for direction today as investors waited for a key Federal Reserve meeting next week. Japan's benchmark edged higher as the yen sank to a multiyear low and South Korean shares climbed after policymakers held a key interest rate steady. Futures point to a lower opening on Wall Street. Market momentum is fading and investors are struggling to find catalysts to drive stock prices higher. The dollar gained against the yen and the euro. Benchmark crude oil rose above $93 a barrel.

WASHINGTON (AP) The government will release two reports today. Both are from the Commerce Department. One report is on retail sales data for August. The other concerns business inventories for July.

FRANKFURT, Germany (AP) The ball is firmly in their court as Eurozone finance ministers gather today and tomorrow for the first time since the European Central bank president sketched out an economic recovery strategy that includes stimulus measures. The finance officials meeting in Milan, Italy, now have a chance to show Europe's politicians are ready to help, too, by taking action in areas they control

WASHINGTON (AP) Justice Department officials are pressing for a new law to help them prosecute criminals overseas who traffic in stolen credit cards. Authorities say the current law is too weak. The Justice Department is asking Congress to amend the law to make it illegal for an international criminal to possess, buy or sell a stolen credit card issued by a U.S. bank no matter where in the world the transaction occurs.

MOSCOW (AP) The European Union has imposed fresh sanctions on Russia, targeting some of its largest companies, in a response to Moscow's actions in Ukraine. Ukraine and the West have accused Russia of providing the rebels with weapons and recruits. The EU closed long-term lending for a number of Russian companies including the country's largest oil producer, Rosneft, and pipeline operator Transneft. The EU also imposed sanctions on 24 individuals including rebel leaders and Russian lawmakers.


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