Harold Maass of The Week The Best of Today's Business

NEWS AT A GLANCE

Waiting for a sign

U.S. stock futures are getting a boost from expectations that the Federal Reserve will hold interest rates steady at its meeting tomorrow. "Mergers and acquisitions also remain a positive theme," said Rupert Della-Porta of F&C Asset Management in London. (Bloomberg) Even if Fed policymakers do leave rates unchanged for the fourth time in a row, they will probably continue to shout warnings about inflation, analysts said. That won't please investors looking for a sign that the economy is heading for a soft landing and the Fed will start cutting interest rates soon. (CNNMoney.com)

Companies without employees

Microbusinesses are popping up around the country in unprecedented numbers as entrepreneurs harness new technologies to let them escape the headaches of hiring and managing employees. Some of these tiny companies farm out extra work. Some collaborate with other micro-entrepreneurs on projects, and then move on to the next job. There are 20 million such businesses, and they occupy one of every six people working in the private sector. "The big guy is going away," said marketer Seth Grodin, author of "Small is the New Big." (USA Today)

Jumping on good news and bad

The Reuters Group is launching two trading services that will allow investors to set up automatic trading orders based on breaking news. Computers will pick the best millisecond to buy or sell a stock to benefit from announcements about corporate profits, changes in management, or other events that can move share prices. "At a very simplistic level," said Richard W. Brown, business manager for Reuters NewsScope, "it's about speed." (The New York Times, free registration required)

Iraq's bright spot?

Currency traders have gone into a buying frenzy as the Iraqi dinar has risen close to a two-year high against the dollar. Economists attribute the dinar's rise to a campaign by the Iraqi Central Bank to fight inflation -- which could be as high as 80 percent -- by buying up the Iraqi currency. Economist A.F. Alhajji of Ohio Northern University said the currency's strength is a sign that Iraqis "believe the economy is improving." Professor Steve Hanke of Johns Hopkins University disagrees. "This is a major train wreck waiting to happen," he said. (Los Angeles Times, free registration required)

BEST COLUMNS OF THE DAY

Security for the middle class

The middle class has spoken, says Lawrence Summers in the Los Angeles Times (free registration required). Ordinary Americans don't feel that they have been elevated by the "rising tide" that has lifted corporate fortunes. They expect the incoming Congress to strike a blow for economic fairness. But lawmakers must be careful not to "cut against the grain of the market system" by obstructing free trade, restricting outsourcing, or otherwise hampering globalization.

High heels in the toy store

"Sex has slithered into the dollhouse," says Bruce Kluger in USA Today. The lineup of dolls for little girls this holiday season features a dizzying array of "10-inch tarts," from Mattel's "slinky My Scene collection" to "MGA Entertainment's notorious Bratz dolls." Even toy makers are finding that sex sells in this racy culture of ours. "What is all this doing to our kids?"

GOOD DAY FOR: Second chances, as filmmaker Mel Gibson's movie "Apocalypto" opened at No. 1 with $14.2 million in box-office sales, dousing speculation that his recent anti-Semitic tirade and drunken-driving arrest had deeply damaged his marketability. (Los Angeles Times)

BAD DAY FOR: Driving to work, as a study by the Partnership for New York City determined that clogged traffic costs the city $13 billion a year. Nationwide, traffic backup costs cities $200 billion. (The New York Times)

NOTED: Gift cards are outselling all toys combined. Consumers spent more than $72 billion on them this year -- up from $51 billion two years ago. Twelve percent of the value of cards purchased last year went unused. (SmartMoney)