Bernanke Comments on Debt Ceiling; Dell Soars on Buyout Talks (DELL)

The major indices ended mixed on Monday as investors awaited remarks from Ben Bernanke of the Federal Reserve on monetary policy. After Republican leaders echoed their call on Obama to increase the debt ceiling, the President stated that he refuses to trade cuts in government spending in exchange for raising the debt limit. The tech industry saw big moves today as Dell (DELL) and HP (HPQ) surged and Apple (AAPL) slid over 3% on demand concerns.
Dell soared 18% after reports that the company may be in talks to go private. Expectations for fourth-quarter earnings remain low despite recent highs for stocks. The reports will continue this week including those of major lenders like Bank of America (BAC) and Goldman Sachs Group (GS) as well as corporations in the auto industry. The yen fell to its lowest level in about two-and-a-half years against the US dollar on news that the Bank of Japan will further its monetary easing and give in to government pressure to raise its inflation target.

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Published on Jan 14, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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