Apple Holds Annual WWDC to Debut New Toys, but No Optimism on Global Stocks (AAPL, GOOG)
PUBLISHED ON: Jun 11, 2012
Domestic and global stocks were down Monday after uncertainty regarding Spain's bailout crept into investors' minds. There will still likely be some sort of help for Spain, but it's likely a temporary fix that would only compound long-term issues. In tech news, Apple (AAPL) held its annual Worldwide Developers Conference, debuting a few new features for its iOS 6 operating system. The most notable may be their own map software which will directly compete with Google (GOOG) maps on a grand scheme, and becomes the only navigation available for the iPhone.
Word on the Street
- Stocks fall on global level citing more Spain uncertainty.
- Apple's (AAPL) WWDC conference debuts new features, including deeper Facebook (FB) integration and Google (GOOG) maps rival.
- The Wall Street Journal reports Facebook's growth is slowing across the board, including in the US.
- China's economic outlook, although still gloomy, brightens after interest rate cut and positive economic figures.
- Investors begin to call for resignation of Chesapeake Energy (CHK) CEO McClendon.
- Google Android activations top 900k, but still well behind Apple's iOS.
- What's going on? Lululemon (LULU) falls 10% despite crushing earnings expectations.
Posted in ...Daily Market Commentary