Nearly 500 businesses sign up for LePage’s state survey

State officials say nearly 500 Maine business have registered for the 2012 Maine Business Survey just two weeks after it began collecting data.

The survey is part of Gov. Paul LePage’s plan to learn more about the needs of businesses and their take on Maine’s business climate.

LePage says the information that’s collected will have a bearing on future economic policy decisions that will impact businesses.

Businesses that have filled out the survey so far say their concerns revolve around regulation, health care costs, access to capital and having a well-trained workforce.

The survey can be found on the governor’s website at www.maine.gov/governor/lepage/.

Investors hold back awaiting three economic markers

Stocks ended slightly lower Tuesday as investors held back ahead of three critical events this week: policy meetings at both the Federal Reserve and the European Central Bank and a closely watched report on jobs in the U.S.

The Dow Jones industrial average lost 64.33 points to close at 13,008.68. The Standard & Poor’s 500 edged down 5.98 points to 1,379.32, and the Nasdaq composite lost 6.32 points to 2,939.52.

The Federal Reserve, which started a two-day policy meeting Tuesday, had appeared to be moving toward announcing some kind of new step to energize the U.S. economy. But there were big questions over whether it will do so this week.

The Commerce Department reported that spending by the U.S. consumer was unchanged in June. But personal income edged up 0.5 percent.

“If incomes are rising, but people aren’t spending, it tells you that the consumer has some ammunition for more spending during the crucial back-to-school season,” said Quincy Krosby, market strategist with Prudential Financial.

There were other positive numbers. The Standard & Poor’s/Case-Shiller home price index released Tuesday showed that prices increases in all of the 20 cities it tracks. The Conference Board said Consumer Confidence Index increased to its highest reading since April, and better than economists had forecast.

Investors were also closely watching for the outcome from the European Central Bank’s meeting on Thursday to discuss concrete steps to help countries with crippling debt.

Facebook stock lackluster despite meeting expectations

The stock has been falling since Facebook released quarterly earnings Thursday for the first time as a public company. Investors were disappointed despite second-quarter results meeting Wall Street expectations, with revenue one-third higher than last year.

The stock lost $1.44, or 6.2 percent, to close Tuesday at $21.71. It is 43 percent below its initial public offering price of $38. Shares briefly hit $21.61 during the day. The previous low was $22.28, on Friday.

Facebook began trading publicly in mid-May following one of the most anticipated stock offerings in history. But since then, investors have been concerned about its ability to keep increasing revenue and make money from its growing mobile audience. Many analysts hold positive long-term views.

— From news service reports