Stocks Slightly Up on Consumer Credit Report (UBS, VZ)

Major indices were slightly up today; though the biggest gains were seen by the Dow, at a mere 0.26 percent increase by the time markets closed. The Federal Reserve reported today that consumer credit increased by 0.8 percent, or $19.3 billion, to $2.5 trillion in December. At $1.32, the euro hit a 2-month high against the dollar today. In corporate news, UBS (UBS) came out with very pessimistic projections for its Q4. Meanwhile, Verizon (VZ) and Redbox have entered into a deal to provide a new streaming video service.
This would provide direct competition to Netflix (NFLX), which just released its first original series yesterday.

Word on the Street

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Published on Feb 7, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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