Week Long Anticipation of Jackson Hole Speech Sees Little Promise for Action

Weekly Wrap Up

Focus this week was mainly on Ben Bernanke's anticipated speech on Friday, driving up investor expectations for economic action from the Fed. While Bernanke continued to support the case for additional measures, he did not offer many speciifics. By the end of the week major indices were in the red and the dollar fell to the lowest level in more than three months, while gold rallied to a five month high.

This week consumer sentiment reached a three month high, an improvement that was more than expected for the month of August. Facebook (FB: Charts, News) continues to see shares drop while Yelp (YELP) saw its biggest increase of over 20%.
Several deals were made including the purchase of DuPont (DD: Charts, News) paint by Carlyle Group (CG: Charts, News) while IBM (IBM: Charts, News) acquired Kenexa Corp (KNXA: Charts, News). More Market News

Economic News

Consumer Sentiment In U.S. Rose To Three-Month High
Consumer confidence improved more than projected in August as merchant discounts and record-low interest rates help U.S. households bolster finances.
The Thomson Reuters/University of Michigan final sentiment index climbed to 74.3, a three-month high, from 72.3 in July. The gauge averaged 89 in the five years leading up to the recession. Other reports indicated manufacturing is cooling. Source: Bloomberg. Click here to read the full article
Gasoline prices up nearly 9% in August: AAA
National average gasoline prices jumped by 30.8 cents a gallon, or 8.75% in August, marking the largest increase for the month of August since 2005, AAA said on Friday.The average price for a gallon of regular gasoline stood at $3.829 on Friday, up from $3.521 a month ago, according to AAA’s Daily Fuel Gauge Report. For the week, prices are up about 10 cents. Source: MarketWatch. Click here to read the full article
Fed Chief Paves the Way for More Easing--Just in Case
Fed Chairman Ben Bernanke paved the way for more quantitative easing on Friday, but he didn't speak with the urgency that some in the markets wanted to hear. Source: CNBC. Click here to read the full article

Business News

Yelp Soars in Biggest One-Day Gain as Lockup Ends
Shares of consumer reviews website Yelp Inc (YELP: Charts, News) recorded their biggest one-day advance on Wednesday, the day insiders were free to sell their holdings, surprising investors. Source: Reuters. Click here to read the full article
DuPont Selling Car Paint Unit to Carlyle for $4.9 Billion
DuPont Co (DD: Charts, News) struck a deal to sell its slow-growing car paint business to investment firm Carlyle Group LP (CG: Charts, News) for $4.9 billion cash as it seeks to focus on higher-growth areas such as agriculture and nutrition. Source: Reuters. Click here to read the full article
Facebook Stock Falls on its Face, But Don't Count it Out
Things got worse for Facebook Friday, and its stock fell to a new low, as several Wall Street analysts covering the company turned more negative on the social networking leader. Source; USA Today. Click here to read the full article

Technology Focus

iPad Mini May Sell Like Hotcakes Compared to Regular Tablet
Bigger is not always better, and this may be the case for the feverish speculation surrounding a smaller version of Apple's (AAPL: Charts, News) iPad.At least for right now, the rumored 'iPad mini' is just that - a rumor. Still, it would be highly profitable for Apple if it comes to market, and would likely outsell its full size predecessor two to one, Patrick Moorhead, of Moor Insights and Strategy, said. Source: CNBC. Click here to read the full article
Apple Loses Samsung Patent Case in Japan #thecircuit
Japanese court on Friday dismissed patent infringement claims that Apple leveled against Samsung. The court, as The Washington Post reported, found that Samsung had not infringed on patents covering music-syncing technology. Source: WSJ. Click here to read the full article

Your Money

The #1 Thing Hiring Managers Are Looking For
We’ve all been there before: You interview for the seemingly perfect job opportunity, and you make all the right moves, but somehow you’re passed up in the final round. Worse, the feedback you get is unsatisfying, too--you’re told there are just too many qualified applicants. Source: The Daily Muse. Click here to read the full article
5 Leadership Lessons You Won't Learn in B-School
First he spoke about the importance of inspiration. Then he talked about the power of passion. Then he discussed the value of vision.Then I almost fell asleep. Source: Inc.com. Click here to read the full article
Published on Aug 31, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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