S&P 500 Breaks 1,400 (CSCO, EBAY)
Positive economic data from recent days sent major indices up, with the S&P 500 breaking 1,400 for the first time since June 2008. Treasury yields continued the longest fall that they have had since 2006. In corporate news, Cisco (CSCO) bought NDS, a developer of premium TV software. This is the first big acquisition that Cisco has made in over two years. Paypal, a subsidiary of eBay (EBAY), has come out with a credit card slider that attaches to mobile devices in order to compete with Square, the company that currently dominates that place in the market.
Word on the Street
- A slew of positive economic data sent markets up today.
- Reuters is reporting that the US and Britain are going to release additional oil reserves.
- Treasury yields continue their long plummet.
- Average mortgage rates rose over 3 percent.
- Cisco (CSCO) bought NDS, a company that develops software for TVs.
- PayPal is getting into the mobile payments game in competition against Square.
Published on Mar 15, 2012By InvestorGuide Staff