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Monday, January 10, 2011

Market Recap: January 10th, 2011

The major U.S. equity indices are trading lower Monday as Europe's debt troubles resurfaced on renewed bailout talk involving Portugal.

Portugal will be dealing with a major debt refinancing later this week. The country is scheduled to conduct a bond auction, with Spain and Italy expected to follow suit.

Finance ministers of the E.U. are scheduled to meet next Monday in Brussels.

In corporate news, Alcoa (NYSE:AA) and Apollo (NASDAQ:APOL) are scheduled to report earnings after the market closes.

Duke Energy (NYSE:DUK) shares are trading 1.52% lower after the company announced plans to buy Progress Energy (NYSE:PGN) for $13.7 billion in stock.

The Dow Jones Industrial Average (DJI) is trading 0.33% lower at 11,636.12, the S&P500 (INX) is trading 0.24% lower at 1,268.50, and the Nasdaq Composite (IXIC) is trading 0.10% lower at 2,700.41.

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