Morning Business Memo:
If only the rest of the year on Wall Street could be as good as the first week. The S&P 500 and Nasdaq are up 4.5 percent since January 1. The S&P 500 index is at the highest level in five years. But this week's stock action may be a lot more volatile as Wall Street's attention shifts away from Congress to the fundamentals of corporate profits. The fourth-quarter earnings season begins tomorrow with Alcoa's earnings. The previous quarter's results were disappointing for most large corporations and this season is not expected to be much better.
Motorists can expect bad news when the US Energy Department releases its weekly gas price report today. The national average is creeping up after falling to a one-year low in mid-December. Analysts expect the trend to continue in the coming months. Crude oil futures are up about $10 in the past month.
The Hostess bake sale continues. Hostess Brands - the bankrupt maker of Twinkies and Wonderbread - is said to be
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