Dow Reaches Day Five of Gains; Facebook (FB) Releases New Search Tool
While Apple (AAPL) continued to drag down tech stocks again on Tuesday, the major indices were able to finish mostly higher. Retail sales were stronger than expected in December and helped the Dow climb for the fifth straight day. The holiday shopping season ended healthily but caution derived from fiscal cliff fears most likely caused uncertainty, weakening consumer confidence. Facebook (FB) revealed a new search feature today that may ramp up their competition with other internet leaders like Google (GOOG). Shares of Dell (DELL) continued to spike on buyout talks and many analysts say the deal is likely.Bernanke's warning on the effects of failing to agree on a higher debt ceiling led global markets lower and pushed up Treasury prices. Platinum futures settled higher than gold for the first time in close to one year.
Word on the Street
- While economists worried about the fiscal cliff, retail sales were rising during the holiday season.
- US to negotiate with the EU, Japan and others over trade and investment barriers.
- Apple (AAPL) extends losses and puts pressure on the tech sector on Tuesday.
- Platinum surpasses gold after settling higher for nearly a year, Germany questions trust in the Fed.
- Facebook (FB) loses 1.4 million users in December, introduces social search.
- Home prices continue to rise for the ninth straight month despite distress.
- Wal-Mart (WMT) pledges to do more to boost sourcing from domestic suppliers and hire veterans.
Published on Jan 15, 2013By InvestorGuide Staff