Stocks Make Strong Gains on Proposed Fed Action and Apple (AAPL) Hits Record

Weekly Wrap Up

Focus this week remained on policy meetings held by both the German court and the Federal Reserve on Wednesday and Thursday, respectively. The German court announced their approval of a new rescue fund and budget pact, which lifted global market sentiment. On Thursday, Bernanke finally announced that the Fed was ready to act and that they would have unlimited bond purchase. Q3 easing was anticipated but the open ended nature surprised many investors and stirred hope for growth.

In corporate news, Apple (AAPL: Charts, News) released the iPhone 5 on Wednesday, sending shares to record highs.
In the US, reports were released that retail sales rose more than expected in August while US output dropped. More Market News

Economic News

Wall Street Extends Gains on Fed; Apple Hits Record
U.S. stocks rose for a fourth straight session on Friday, a day after the Federal Reserve launched an aggressive bond-buying program to spur the economy, a move that could keep equities buoyed in the coming months. Source: Reuters. Click here to read the full article
Retail Sales in US Probably Climbed in August on Auto Demand
Retail sales probably improved for a second month in August as consumers overcame a lack of jobs and stagnant wages, economists said before a report today.Purchases climbed 0.8 percent, matching the July advance, according to the median estimate in a Bloomberg survey of economists before today’s Commerce Department figures. Source: Bloomberg. Click here to read the full article
Oil Prices Push Higher as Fed Stimulus Supports
Oil prices rose on Friday but slipped from four-month highs as concerns about the threat to economic growth from high energy costs tempered hopes for stronger demand after the Federal Reserve launched an aggressive stimulus program. Source: Reuters. Click here to read the full article

Business News

US Government No Longer Majority Owner of AIG
The U.S. government is no longer the majority owner of American International Group (AIG: Charts, News). The bailed-out insurance company said Friday that the Treasury Department had wrapped up a planned sale of AIG stock, which netted the government roughly $20.7 billion. Source: CBS News. Click here to read the full article
Facebook, Zynga Stocks End Week on High Note
Facebook’s (FB: Charts, News) beleaguered stock is set to end the week on a high note, pulling Zynga (ZNGA: Charts, News) with it.CEO Mark Zuckerberg jump-started Facebook’s stock earlier this week when he talked up the company’s mobile ambitions and acknowledged it has made mistakes. Source: Click here to read the full article
Dept-Plagued Chesapeake Energy to Sell $6.9 Billion Worth of its Holdings
Staggering under high debt, Chesapeake Energy (CHK: Charts, News) said Wednesday that it would sell $6.9 billion of gas fields and pipelines - another step in shrinking the company whose brash chief executive had made it a leader in the country’s shale gas revolution. Source: Washington Post. Click here to read the full article

Technology Focus

iPhone 5 Shipping Date Slips, Apple Seen Swamped
Shipment dates for the latest iPhone slipped by a week on the first day of sales, Apple (AAPL: Charts, News) Website showed on Friday, suggesting overwhelming demand for the slimmer, lighter and faster version of the smartphone.Apple's U.S. store was projecting shipments would take two weeks to fulfill, with analysts saying the date slipped within an hour of the start of presales. Source: CNBC. Click here to read the full article
Apple Tops J.D. Power’s Tablet Survey, Barely Beating Amazon; Tablets Top Smartphones For Usage
One day after Apple’s (AAPL: Charts, News) big iPhone 5 news day, an accolade for Apple in the tablet category: J.D. Power and Associates has put the brand at the top of its annual tablet customer satisfaction survey. Source: TechCrunch. Click here to read the full article

Your Money

10 Leadership Lessons From Jeff Weiner, CEO of LinkedIn
I had the pleasure of attending the first video pilot interview of LinkedIn (LNKD: Charts, News) CEO Jeff Weiner by Adam Bryant, New York Times Senior Editor for Features.As a user of LinkedIn and loyal reader of Adam’s Corner Office columns I had high expectations for the live interview. I walked away feeling like a high school girl who experienced her first crush. And now I am writing a tell all! Source: Forbes. Click here to read the full article
18 Hot Mobile Startups You Need to Watch
A lot of people are developing mobile-first products.
They're bypassing websites and going straight for the App Store, or they're building hardware for mobile devices. Source: BusinessInsider. Click here to read the full article
Published on Sep 14, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

Posted in ...