S&P 500 Posts 1.1% Rise for the Week; Apple Drags Down Nasdaq (AAPL)

Weekly Wrap Up

This week was momentous for the S&P 500. The major index extended what has now become its longest winning run in over six years. Stock was trading higher due to many positive quarterly earnings as well as generally positive housing market news. The index would have gained more if not for Apple's (AAPL: Charts, News) major losses after reporting disappointing financial results midweek.
Exxon Mobile (XOM: Charts, News) surpassed Apple on Friday to become the most valuable stock.

In the weekly jobless report, claims dropped to the lowest level in about five years. Gold ended 1.8% lower on the week, extending losses after Friday's disappointing new-home sales report. The euro reached an eleven-month high against the US dollar after improvement in German confidence this week and signs of progress in the euro zone. More Market News

Economic News

US New-Home Sales Drop Blemishes Best Year Since 2009
Purchases of new U.S. homes unexpectedly decreased in December, a temporary blemish as the industry wrapped up its best year since 2009 to emerge as a bright spot for the economy. (Source: Bloomberg) Click here to read the full article
Despite Calm, Draghi Raises Economic Concerns
Calling 2012 the year the euro was renewed, the president of the European Central Bank expressed concern that calm on financial markets had not yet led to economic growth and better lives for European citizens. (Source: NY Times DealBook) Click here to read the full article
US Jobless Claims Fall to 5-Year Low
The number of Americans filing new claims for unemployment benefits unexpectedly fell to its lowest since the early days of the 2007-09 recession, a hopeful sign for the sluggish labor market. (Source: Fox Business) Click here to read the full article

Business News

Boeing's Dreamliner Dreams Go Up in a Puff of Smoke
Aircraft manufacturer Boeing’s (BA: Charts, News) suffered a major setback this month, after safety concerns arose regarding its flagship 787 Dreamliner aircraft. (Source: InvestorGuide) Click here to read the full article
AMD Soars Despite Lackluster Fourth Quarter Earnings
Shares of Advanced Micro Devices (AMD: Charts, News) soared 10% yesterday, after the chip maker surprisingly beat lowered expectations. For its fourth quarter, AMD reported a loss of 63 cents per share, or $473 million, on revenue of $1.16 billion. After adjusting for one-time charges and other items, AMD posted a loss of 14 cents per share. Analysts had forecast a loss of 21 cents per share on revenue of $1.15 billion. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Google Tops Estimates on Strong Mobile Growth
Earlier this week, search behemoth Google (GOOG: Charts, News) rallied strongly after reporting fourth quarter earnings that exceeded analyst estimates, prompting a wave of upgrades. The Mountain View, California-based company earned $10.65 per share, or $2.9 billion, on revenues of $12.16 billion. This topped the Thomson Reuters analyst consensus of $10.56 per share on revenues of $12.16 billion. (Source: InvestorGuide) Click here to read the full article
Intel Plunges After Bleak Outlook Sinks Investor Confidence
Shares of Intel (INTC: Charts, News) plunged last Friday, after the largest microprocessor company in the world posted bleak guidance that confirmed investors’ fears that it was losing ground in the critical tablet and smartphone battle. (Source: InvestorGuide) Click here to read the full article
IBM Shares Higher on Solid Fourth Quarter, Guidance
Shares of International Business Machines Corp. (IBM: Charts, News) gained +7.83 or +3.99 percent to $203.91 per share in afterhours trading on Tuesday, after the company reported a six percent increase in 2012 fourth quarter earnings. IBM stock had closed at $196.08 per share, up +1.61or +0.83 percent in the regular trading session on Tuesday. (Source: InvestorGuide) Click here to read the full article

Your Money

The Ten Life Lessons From Steve Jobs We Should Never Forget
After Steve Jobs died, his friend Larry Ellison was asked by Kara Swisher what were the key things that we - regular people - could learn from him. (Source: Forbes) Click here to read the full article
Boomers Changing Careers? Avoid These 8 Mistakes
The urge to switch careers can strike older workers for a variety of reasons - an unexpected job loss, fear about dimming prospects in their current industry, or simply a yen for change - but there are pitfalls of which to be wary. (Source: MarketWatch) Click here to read the full article
Published on Jan 25, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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