Market Confidence Up on Tuesday as Congress Backs Syria Action (MSFT, VZ)
The Markets ended in the green on Tuesday after Republicans stated their support for President Obama's call for military action in Syria. From here what will happen specifically remains undecided since Congress does not return from its summer recess until September 9th. It was reported today that the manufacturing index in the US had the most rapid expansion in over two years in August. This signals that the economy is faring reasonably well at the moment. Techs like Microsoft (MSFT) and Verizon (VZ) fell on Tuesday as they both prepare for billion dollar acquisitions.CBS Corp (CBS) and Time Warner Cable (TWC) settled on an agreement to end the current blackout of certain stations. Monster Beverage (MNST) dropped on stock shorting chatter that circulated on Twitter. Metals jumped today with gold futures seeing their first increase in four sessions and silver soaring about 4%, mostly on Syria tension.
Word on the Street
- Manufacturing data in the US shows August rose at the fastest pace in over two years.
- The OECD says that global economic recovery could still be thrown off track.
- Shares of Verizon (VZ) and Vodafone (VOD) drop on acquisition deal.
- Microsoft's (MSFT) recent $7.2 billion deal may be Ballmer's last stand.
- Kodak finishes up restructuring and announces Chapter 11 exit.
- H&R Block (HRB) reports fiscal Q1 earnings.
- Campbell Soup (CPB) Reports a Mixed Fourth Quarter.
Published on Sep 3, 2013By InvestorGuide Staff