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Latest Business News: Earnings in Spotlight as Fed Jolt Fades

Wochit 1:06 mins

After a recent stronger-than-expected U.S. jobs report, investors are more convinced than ever that the Federal Reserve's bond-buying program will be scaled back as soon as September. If that happens, the stock market will lose fuel that helped power the Dow Jones Industrial Average to its new high. Investors hoping that U.S. companies will come to the rescue are likely to be disappointed, according to analysts who have been trimming their expectations in recent weeks. J.P. Morgan has advised in a research note that Dubai Holding could raise almost $1 billion from the sale of its minority stakes in two telecom firms. The conglomerate, owned by the ruler of Dubai, is among a group of state-linked companies trying to recover from a 2009 property crash. The firms face debt repayments of about $50 billion over the next three years. U.S. stock futures are building on gains from Friday's strong jobs report as Wall Street turns its attention to the traditional start of earnings season.

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