Apple Turns Heads with Decision and Stocks Rally (AAPL, ADBE, & EBAY)

The markets had a positive session today. Although trading was relatively light, investors seemed to be very upbeat after hearing a series of promising economic data points. There were afternoon reports indicating that the U.S. trade deficit is better than expected and unemployment is improving. This data did not erase all doubts about the current economic climate, but it certainly eased the tension enough to push the markets higher. In corporate news, Adobe (ADBE) had a strong day after Apple (AAPL) announced some favorable application rules and restrictions adjustments. The Dow Jones was up 28.23 points to 10,415.24 while the the Nasdaq gained 7.33 points to close at 2,236.20. The S&P 500 climbed up 5.31 points to 1,104.18. The dollar gained against the euro while gold fell $6.60 to $1,250.90 an ounce. The price of oil for October delivery finished at $74.25 a barrel.

Word on the Street

• Apple (AAPL) decides to loosen its application restrictions. The relaxed regulations seem to permit third party developers to use Adobe (ADBE) Flash.
• The unemployment rate is improving and the U.S. trade gap is narrower than expected. Does this mean that we are on our way to a successful economic recovery?
• Amazon (AMZN) will begin selling its Kindle E-reader in Best Buy (BBY) stores this fall. Target (TGT) and Staples (SPLS) will also provide as a retail channel for the digital book reader.
• Ford (F) has officially abandoned its plan to begin manufacturing SUVs for the Euporean market in the United States. The exchange rate no longer justifies the implementation of this strategy.
• Goldman Sachs (GS) dishes out a cool $31 million for United Kingdom fine. What did they do?
• Donald Trump has been mentioned as a potential buyer for the Ground Zero property. Find out the details.

Interesting Tidbits

• Here is some promising news for graduating college students- recent reports seem to indicate that starting salaries for grads are no longer on the decline.
• NFL players make a lot of money, but not all of them deserve it. Take a look at these underachievers that are cashing the big checks.
• Expect to see a higher price tag on jeans and t-shirts this fall and winter. Find out why.