Apple Awarded $290.45 Million; Dow Closes Above 16,000

The Dow Jones continues its record run after finishing the day above 16,000 for the first time ever. After President Obama recommended Janet Yellen as the new chair of the Federal Reserve last week, the Senate Banking committee followed suit recommending her today. After two straight weeks of increases, the 30-year mortgage rate falls to 4.22%, showing Americans that purchasing homes is still affordable. The U.S. announced that it will probably be able to sell the remaining shares of General Motors (GM) stock by next month. While the overall result is leaving taxpayers with $10 billion loss, the government stands by its decision to bailout GM and still thinks that not bailing out the company would have been more detrimental to the economy than the $10 billion loss. The retrial between Apple (AAPL) and Samsung looks to be finally over after a U.S. jury awarded Apple $290.45 million in damages, less than Apple requested which was $379.8 million but significantly more than Samsung argued for which was a measly $52.7 million. The labor market appears to be improving after the jobless claim fell last week by 21,000.

Word on the Street

Dell's (DELL) CEO wants more employees to work from home.
AOL (AOL) trying to sell Winamp, its media player, to Microsoft (MSFT).
Telsa's (TSLA) struggles continue as its VP leaves the company.
Janet Yellen has been nominated by the Senate Banking committee.
BMW to sell futuristic car for $136,625 in spring of 2014.
Looks like the labor market is improving as jobless claims falls once again.
J.C. Penny (JCP) stock higher despite lower earnings.

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Published on Nov 21, 2013

By InvestorGuide Staff

Copyrighted 2017. Content published with author's permission.

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