Major indices were mixed today, as uncertainty from Spain was offset by some positive economic data. Yields on Spanish government bonds broke 6 percent, causing many international investors to rush back to American Treasuries. US retail sales increased 0.8 percent in March, as consumer spending in almost every category spiked. After Nokia’s (NOK) disappointing earnings, Moody’s downgraded their credit rating by a step. Apple (AAPL) fell $25 today, as the DOJ suite and endless patent lawsuits drag the company down.
Word on the Street
- Spain bond yields rose to five-month highs today.
- Argentina is going to renationalize YPF, the country’s biggest oil company.
- Moody’s downgraded Nokia (NOK) by one step.
- Apple’s (AAPL) stock is down ahead of their earnings.
- Retail sales were dramatically up in March.
- Citi’s (C) net income beat expectations.