US Markets Finish With Weekly Losses on Fiscal Cliff Concerns
Weekly Wrap Up
The markets had a rough week as most investors were focused on fiscal cliff worries and talks that began on Friday. Despite a slightly positive end, in general the major indices slipped. The Nasdaq Composite ended 1.8% lower, the S&P 500 dropped 1.5% and Dow industrials finished 1.8% below one week ago. Also on many peoples' minds was the housing market and the Fed's plan to get past tight lending issues. Chairman Bernanke confirmed that the central bank is working on policies that will help the market recover.
Retail earnings and sales were trending this week as many companies gear up for "Black Friday" after Thanksgiving.
Economic News
Ben Bernanke: Tight Mortgage Lending Slowing Recovery
While banks were right to be more selective in their lending practices after the financial crisis, access to credit for homebuyers may now be getting too tight for the economy's good, Federal Reserve Chairman Ben Bernanke said in Atlanta Nov. 15. (Source: Global Atlanta) Click here to read the full article
While banks were right to be more selective in their lending practices after the financial crisis, access to credit for homebuyers may now be getting too tight for the economy's good, Federal Reserve Chairman Ben Bernanke said in Atlanta Nov. 15. (Source: Global Atlanta) Click here to read the full article
Both Sides Appear Upbeat on Opening Round of ‘Fiscal Cliff’ Talks
Republican and Democratic congressional leaders expressed optimism Friday about reaching a deal by the end of the year to avert the looming "fiscal cliff" after what they said were "constructive" talks with President Obama. (Source: Washington Post) Click here to read the full article
Republican and Democratic congressional leaders expressed optimism Friday about reaching a deal by the end of the year to avert the looming "fiscal cliff" after what they said were "constructive" talks with President Obama. (Source: Washington Post) Click here to read the full article
Industrial Production in U.S. Drops 0.4% on Sandy Effect
Industrial production unexpectedly fell in October as superstorm Sandy disrupted output of goods from food to chemicals, adding to the woes of companies contending with cooling global demand. (Source: Bloomberg) Click here to read the full article
Industrial production unexpectedly fell in October as superstorm Sandy disrupted output of goods from food to chemicals, adding to the woes of companies contending with cooling global demand. (Source: Bloomberg) Click here to read the full article
Business News
(CSCO)
Shares of Cisco Systems, Inc. (CSCO: Charts, News) gained +1.28 or +7.6 percent to $18.13 per share in after-hours trading on Tuesday after the company announced better than expected first quarter profits. Cisco stock had closed at $16.85 per share unchanged from the previous day. (Source: InvestorGuide) Click here to read the full article
Shares of Cisco Systems, Inc. (CSCO: Charts, News) gained +1.28 or +7.6 percent to $18.13 per share in after-hours trading on Tuesday after the company announced better than expected first quarter profits. Cisco stock had closed at $16.85 per share unchanged from the previous day. (Source: InvestorGuide) Click here to read the full article
Wal-Mart and Target: A Tale of 2 Discounters
This holiday season, the biggest discount chains in the U.S. will tell the tale of two very different shoppers: those that have and those that have not.
This holiday season, the biggest discount chains in the U.S. will tell the tale of two very different shoppers: those that have and those that have not.
Wal-Mart Stores Inc., the world’s largest retailer, on Thursday acknowledged that its low-income shoppers continue to struggle in the economy and issued an outlook for the fourth quarter — which encompasses the holiday shopping period – that falls below Wall Street estimates. On the same day, its smaller rival Target Corp., which caters to more affluent shoppers, said it expects results during the quarter to exceed the Street’s projections. (Source: Miami News Record) Click here to read the full article
Technology Focus
High-Flying Apple Falls to Earth as Investors Fret Over Taxes
Gravity has taken hold of Apple (AAPL: Charts, News), and a lot of investors have been smacked on the head.Apple Inc, the largest U.S. stock by market value, was headed toward its eighth straight week of declines on Friday, as the rush to secure profits before a potential hike in capital gains taxes next year has investors dumping the market favorite. (Source: Reuters) Click here to read the full article
Gravity has taken hold of Apple (AAPL: Charts, News), and a lot of investors have been smacked on the head.Apple Inc, the largest U.S. stock by market value, was headed toward its eighth straight week of declines on Friday, as the rush to secure profits before a potential hike in capital gains taxes next year has investors dumping the market favorite. (Source: Reuters) Click here to read the full article
Tech Stocks Rally, but Dell Misses the Party
Most leading tech stocks found their footing in afternoon trading Wednesday as the broader market turned optimistic following comments about talks between President Obama and congressional leaders over avoiding the so-called "fiscal cliff" the U.S. faces in January. (Source: MarketWatch) Click here to read the full article
Most leading tech stocks found their footing in afternoon trading Wednesday as the broader market turned optimistic following comments about talks between President Obama and congressional leaders over avoiding the so-called "fiscal cliff" the U.S. faces in January. (Source: MarketWatch) Click here to read the full article
Your Money
The Facebook Job Board is Here: Recruiting Will Never Look the Same
Facebook (FB: Charts, News) announced its long-awaited job board this morning, ushering in a new era of online recruiting and, eventually, what’s likely to be an important new source of revenue for the company. After a yearlong "Social Jobs Partnership" with the U.S. Department of Labor and other government agencies, the company released the Social Jobs Partnership application today, an interactive job board that aggregates 1.7 million openings from recruiting companies already working on the platform, including Work4 Labs, BranchOut, Jobvite, DirectEmployers and Monster.com. (Source: Forbes) Click here to read the full article
Facebook (FB: Charts, News) announced its long-awaited job board this morning, ushering in a new era of online recruiting and, eventually, what’s likely to be an important new source of revenue for the company. After a yearlong "Social Jobs Partnership" with the U.S. Department of Labor and other government agencies, the company released the Social Jobs Partnership application today, an interactive job board that aggregates 1.7 million openings from recruiting companies already working on the platform, including Work4 Labs, BranchOut, Jobvite, DirectEmployers and Monster.com. (Source: Forbes) Click here to read the full article
Taking Sheter in Home Depot
Apparently a lot of investors are ignoring the headlines. In just 48 days, the nation falls off a fiscal cliff unless that gridlocked gang in Washington miraculously saves us. Hardly a confidence builder.Against this backdrop of impending ruin, Home Depot Inc. (HD: Charts, News) just posted adjusted third-quarter earnings of 74 cents a share, up 23% from a year ago and better than analysts expected. (Source: MarketWatch) Click here to read the full article
Apparently a lot of investors are ignoring the headlines. In just 48 days, the nation falls off a fiscal cliff unless that gridlocked gang in Washington miraculously saves us. Hardly a confidence builder.Against this backdrop of impending ruin, Home Depot Inc. (HD: Charts, News) just posted adjusted third-quarter earnings of 74 cents a share, up 23% from a year ago and better than analysts expected. (Source: MarketWatch) Click here to read the full article
Published on Nov 16, 2012
By InvestorGuide Staff 