Bernanke Limits Optimism Out of China and a CEO Calls it Quits (BBY, ORCL)

US markets were unable to sustain the momentum gained yesterday, recording mixed results on Thursday. More economic optimism came early in the trading day after China decide to cut their interest rates in an attempt to spur the slowing exponential growth of the country. But Federal Reserve Chairman Ben Bernanke curbed early gains with an uneventful testimony, sending markets back down. The Dow rose moderately, but the S&P 500 and NASDAQ were essentially flat.
In corporate news, Oracle (ORCL) began debuting their new cloud products as the market continues to get even more crowded.
Best Buy (BBY) founder Howard Schulze decided to call it quits and is considering selling his 20% share in the electronic retailer.

Word on the Street

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Published on Jun 7, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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