On Tuesday, home price data distracted investors from the eurozone debt crisis, allowing US markets to be just barely positive at the end of the day. US consumer confidence continues to drop and reached a five-month low. The dollar made a small gain against the euro but fell against the yen. In Europe, Moody’s cut its debt ratings in Spain for 28 banks and both Spain and Italy saw borrowing costs soar. News Corp., who owns The Wall Street Journal, considers splitting its businesses in two and Google (GOOG) unveils its plans to release its own tablet to compete with Apple’s (AAPL) iPad and Microsoft’s (MSFT) Surface. Facebook (FB) names Sheryl Sandburg as its chief operating officer and first woman on the company’s board.
Word on the Street
- News Corp. considers separation between newspaper and book publishing businesses.
- Financial plans for the Eurozone focus on the long term.
- Drop in crude oil prices hit airline companies hard, starting with Delta (DAL).
- Google (GOOG) plans to unveil its Nexus 7, their own tablet to compete with Apple (AAPL) and Microsoft (MSFT).
- Facebook’s (FB) IPO has Congress questioning the way companies are traded and go public.
- Coca-Cola’s (KO) chief executive announces plans to invest $5 billion in India by 2020.
- Consumer confidence continues to decline with growing concerns over jobs and incomes.
- Anheuser-Busch InBev (BUD) Attempts to Acquire the Rest of Modelo.