Strong Earnings Offset by Debt Deal Uncertainty (AAPL, IBM)

What looked like a strong day after several key impressive earnings reports ended flat as the deadline for the debt ceiling deal loomed. Fitch Ratings ominously noted that they would make a decision about the United States’ creditworthiness next month. After a record quarter, Apple (AAPL) continued its momentum today by releasing several key products, including the latest versions of its OS and its lowest end laptop. IBM (IBM) had a strong earnings report today, the best of the S&P 500 announced today.

Word on the Street

• After an early rally, stocks ended up nearly unchanged as the debt deal deadline approaches.
• Apple (AAPL) stocks hit a record high today after their latest product releases.
• Fitch Ratings stated that next month it will determine if the US still deserves its AAA rating.
• A Chicago Federal Reserve report claims the housing sector is not to blame for the continuing high unemployment.
• IBM (IBM) showed big gains at its earning call today.
• Lenders will now be required to show the credit score data they use to make their decisions.

Interesting Tidbits

• Reiterating the importance of good strategy for success.
• A psychological look at how to recover from failure.

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