Janet Yellen Confirmed as Next Chairman of the Fed as Stocks End Up
The three main indices end up for the first time of the year. It was confirmed today that Janet Yellen will be the next Chairman of the Federal Reserve. Her term begins on February 1st and she will be the first woman to ever head the central bank. The U.S. Senate is close to extending the expired unemployment benefits for three months. These benefits ended on December 28th and affected around 1.3 million Americans. AT&T (T) is partnering with Tesla (TSLA) and Audi to deliver internet connectivity to these car brands.The concept is referred to as the "connected car" and will make these cars seem like smartphones on wheels since they will be connected to AT&T's 4G LTE network. Apple (AAPL) reported that its App store generated more than $10 billion in sales in 2013; this number is roughly what it achieved in the past four years combined.
Word on the Street
- Additional proof that the economy grew - trade deficit down to a 4-year low.
- Will Congress be extending unemployment benefits soon?
- JP Morgan (JPM) ordered to pay $1.7 billion for their involvement in Madoff's Ponzi scheme.
- Mattel (MAT) shares fall shortly after Goldman Sachs downgraded the shares.
- Comcast (CMCSA) added TV subscribers in 2013; first time in 6 years.
- Google (GOOG) and NVIDIA start Open Automotive Alliance.
Published on Jan 7, 2014By InvestorGuide Staff