2% Rebound for US Stocks, Euro Concerns Reduced (XOM, GOOG)
US markets made major strides forward on Wednesday, notching 2% gains across the board thanks to the outcome of an important European Central Bank meeting. The ECB put pressure on the government and it's political leaders to step in and change the economy, raising hopes there will be a stimulus in the near future for the continent. The EU appears willing to help Spain even further, promising to get a little creative, which temporary eased the struggling countries rates. In corporate news, Exxon Mobil (XOM) expanded it's oil operations into an Australian project, and Google (GOOG) unveiled a few new map features in an indirect taunt towards Apple (AAPL).
Word on the Street
- European Central Bank puts pressure on political leaders, increasing chances of stimulus rather than a rate cut.
- Spain receives some relief in borrowing costs as signs point to the EU getting creative.
- US stocks surge due to European optimism, but treasuries sink.
- Exxon Mobil (XOM) buys into Australian oil project.
- LinkedIn (LNKD) suffers PR nightmare as 6.5 million passwords leaked.
- Google (GOOG) flaunts new maps features as Apple (AAPL) plans departure.
- Iron Mountain (IRM) shares soar after announcing conversion to REIT.
Published on Jun 6, 2012By InvestorGuide Staff