Fischer Selected as Vice Chairman of the Fed; CGI Fired as Contractor of Healtcare.gov

Weekly Wrap Up


Stocks continued to struggle throughout the week. The week ended with the Dow Jones ending down due to a disappointing December jobs report. President Obama has selected Stanley Fischer as the new vice chairman of the Federal Reserve. Fischer will be replacing Janet Yellen as she is set to become the next chair of the Federal Reserve beginning next month, after being confirmed by the Senate this week. After months of issues with the Healthcare.gov website, the U.S. government has selected a new contracting company. Accenture (ACN) has been selected to replace CGI (GIB) as the primary contractor of Healthcare.gov.

The 2014 Consumer Electronics Show began this week revealing some of the newest technology that will be available this year.
AT&T (T) announced that they will be partnering with Tesla (TSLA) and Audi to deliver a "connected car". These cars will be connected to AT&T's 4G LTE network and will make these cars like smartphones on wheels. Google (GOOG) and NVIDIA (NVDA) along with Audi, Hyundai, Honda Motor Co (HMC) and General Motors (GM) have come together to form the Open Automotive Alliance. The car brands in this alliance will have Google's Android platform in their cars and have specific apps created that will be tailored for in-car use.

Economic News


Obama Moves to Fill Fed Board, Taps Fischer to be No.2 
President Barack Obama on Friday nominated former Bank of Israel governor and experienced crisis manager Stanley Fischer to be vice chairman of the Federal Reserve, and tapped two others to round out the U.S. central bank's top ranks just as it begins winding down its historic economic stimulus. (Source: Yahoo News) Click here to read the full article

More of the Jobless are Giving Up on Finding Work 
The percentage of Americans participating in the labor force hit the lowest level since 1978, as long-term unemployment causes a flood of discouraged workers to drop out of work force. (Source: CNN) Click here to read the full article

Business News


(M)
Shares of Macy’s Inc. (M) were trading up +3.65 or +7.04 percent to $55.49 per share in pre-market trading on Thursday, after the company announced it would reduce its workforce, close several stores and increase integration of in-store and online sales. (Source: InvestorGuide) Click here to read the full article

(UNH)
Shares of UnitedHealth Group (UNH) were up $2.27 per share, a gain of 3.06%, to $76.51 on Tuesday, on news that the stock has been upgraded from “Hold” to “Buy” by Deutsche Bank (DB). Healthcare stocks were prominent in Tuesday’s 105 point rally on the Dow Jones Industrial Average. (Source: InvestorGuide) Click here to read the full article

(MW)
Shares of The Men’s Wearhouse Inc. (MW) were trading up +2.63 in pre-market trading on Monday, after the company announced it would up its bid for Jos. A. Bank Clothiers (JOSB) to $57.50 per share from $55. (Source: InvestorGuide) Click here to read the full article

Technology Focus


(GOOG)
Shares of Google Inc. (GOOG) closed up +12.32 or +1.11 percent on Monday, after the company announced it was partnering with chip-maker NVIDIA Corporation (NVDA) and four major automakers to form the Open Automotive Alliance. (Source: InvestorGuide) Click here to read the full article

Five Trends for CES 2014
The massive International CES show hosts the cutting edge in technology, giving consumers a glimpse of our digital futures. Here's a look at the five trends to watch in consumer technology from CES 2014. (Source: USA Today) Click here to read the full article

Your Money


Why 2014 is the Year to Get Out of Debt
When it comes to your personal finances, 2014 may be your best chance to take advantage of low interest rates and get out of debt - before it really starts costing you. (Source: CNN Money) Click here to read the full article

The Cost of Blown Resolutions: $1,000
Nearly 70% of people who failed to stick to their goals estimated that the lapse cost them more than $1,000, according to a recent survey by Vital Research, a corporate training firm. This figure includes lost promotions, health care costs, and other long-term expenses. (Source: CNN Money) Click here to read the full article

Published on Jan 10, 2014
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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