S&P Extends Record as Bank of America Agrees to Settlement (BAC, APO)
PUBLISHED ON: May 6, 2013
On Monday the markets mostly advanced and continued their positive rally from last week. The S&P 500 hit another record high and was supported by tech companies and financials. Bank of America (BAC) agreed to a $1.7 billion settlement with insurance company MBIA over a mortgage-backed securities dispute. Apollo Global Management LLC (APO) reported a record Q1 profit that was 72% higher despite market volatility. Apple (AAPL) once again surpassed Exxon Mobile (XOM) as the market leader on Monday.The US dollar continued to gain against the yen and the euro after the recent monthly jobs report.
Word on the Street
- Bank of America (BAC) and MBIA agree to $1.7 billion settlement.
- Job data excitement fades and investors refocus on global economic problems.
- Apple (AAPL) tops Exxon (XOM) in market crown leader once again.
- Adobe (ADBE) announces product shift to the cloud.
- The French attempt to woo the Chinese economy as a new investor.
- Is it Time to Recycle the Washington Post (WPO)?
- Anchor Liz Claman shares the best advice she's ever received from Warren Buffett.
- Do you do these eight things that really successful people are meticulous about?
Posted in ...Daily Market Commentary