After a lackluster week last week, the stocks all finished in the green with the S&P 500 closing at a new record high. With the continual rise of stocks some economists are forecasting a bubble on our horizon. While bubbles are rare and hard to predict, we are currently experiencing similar conditions to the last time we experienced a bubble. Twitter (TWTR) had a good day, up 9.1%, nearly surpassing its record high that was set on November 7th, the day of its IPO debut. Tech titans have come together to form the Reform Government Surveillance coalition to ensure that the government is remaining within the law in regards to its surveillance efforts. Is another government shutdown in sight? In mid-January funding for the government expires and if the legislative branch is unable to come to an agreement we may have another shutdown, just 3 months after the October shutdown. While the government auto bailout still looms, it is estimated that by bailing out General Motor (GM) and Chrysler 1.5 million jobs were saved.
Word on the Street
- Time Inc. is forced to cut more jobs in 2014.
- Will small businesses save more with health care tax credit?
- Netflix (NFLX) may be teaming up with Time Warner Cable (TWC).
- Southwest Airlines (LUV) receives fewest number of customer complaints.
- Despite poor performance, Abercrombie & Fitch (ANF) extends CEO’s contract.
- American Airlines and U.S. Air begin trading as American Airlines Group Inc. (AAL).