Major Stocks On Track to Reach 6-Weeks of Gains, Consumer Sentiment Rises (CAT, AAPL)
PUBLISHED ON: Aug 17, 2012
Stocks ended positive on Friday and show signs for what may become six straight weeks of gains. A report was released that unemployment rates rose in 44 states in the US during the month of July, but another report stated that consumer sentiment is rising. Chancellor Angela Merkel continues to show her support of the ECB and lifts investor spirits for the second day in a row. Apple (AAPL) and Google (GOOG) may be working together to buy patents from Kodak. Workers for Caterpillar Inc.(CAT) have approved a new labor contract and Fannie and Freddie plan on paying out earnings in a package to help mortgage agencies. Treasury yields fell from what was a three-month high.
Word on the Street
- Fannie Mae and Freddie Mac to pay out earnings as part of a package to help mortgage finance agencies.
- A Labor Department report says unemployment rates rose in 44 US states in July.
- Google (GOOG) and Apple (AAPL) to team up and buy patents from Kodak.
- US consumer sentiment hits a three month high in August.
- Dependence on Saudi Arabian oil continues to increase for the US as imports rise more than 20% this year.
- Workers at Caterpillar Inc. (CAT) approve a new 6-year labor agreement on Friday.
- Groupon (GRPN) stock stays low throughout the week after its lackluster report earlier in the week.
- Abercrombie & Fitch (ANF) Beats Earnings But Same-Store Sales Drag Down Revenue.
Posted in ...Daily Market Commentary