Nasdaq Closes Above 4,000; Consumer Confidence Falls
Nasdaq closed above 4,000 for the first time since 2000. Men's Warehouse (MW) put down an offer to buy Jos. A. Bank Clothiers (JOSB) today for approximately $1.2 billion. Hyundai looks to dive further into the luxury cars market as it revealed its new Genesis sedan today. The sedan has been completely redone since it was first created in 2008 and the U.S. should be able to purchase this luxury vehicle early in 2014. Housing prices seem to be on the upswing as prices in September were up 13.3% from a year ago and are back to 2004 prices. Consumer confidence falls to a 7-month low at a bad time as the holiday shopping season is fast approaching.
Word on the Street
- Motorola (MSI) to offer low-cost smartphone earlier than expected.
- Not all retailers want you to purchase new items on Black Friday; Patagonia.
- Consumer confidence drops in November, poor timing with holiday shopping season approaching.
- Microsoft (MSFT) vs. Google (GOOG): Microsoft's ad bashes Google's Chromebook.
- 1 in 6 American workers fear that they will lose their jobs.
- Home prices up significantly over the past year.
- Blackberry (BBRY) execs leave in management shakeup.
Published on Nov 26, 2013By InvestorGuide Staff