The Dow Jones once again closes the day above 17,000, but fell slightly from its intraday record. It was announced today that China’s Alibaba filed for an IPO in the United States, this IPO may very well be the biggest tech IPO in history. Yahoo (YHOO) is set to make a lot of money off Alibaba’s IPO, as they have a 40% state in the company. Volkswagon has plans to almost double the employment at its Tennessee plant. VW is investing $600 million into the plant by bringing production of a new SUV along with 2,000 jobs to its plant in the southern United States.
Word on the Street
- Emerging nations have plans to create their own IMF.
- Gold prices fell more that 2% today.
- Last week the S&P 500 suffered its worst week in months.
- Alibaba’s IPO may be the biggest tech IPO ever.
- American Apparel’s (APP) shares may double soon.
- The top 5 profit winners according to a computer’s prediction.
- URS Corporation (URS) to be acquired by AECOM Technology.