Major Indices Up for the First Week of the Year.

Weekly Wrap Up

Markets began the week with a rally, as positive economic data about the manufacturing and construction sectors of the economy were released on Monday. Though Germany managed to get a lower rate for its debt during its auction on Tuesday, markets ended flat for the day. Markets continued to be flat or mixed for the rest of the week, with the week overall ending up.

Both Amazon (AMZN: Charts, News) and Barnes & Noble (BKS: Charts, News) saw tremendous sales of their ebook and tablet products during the holiday seasons.
The former has admitted that they sold at minimum four million Kindles during December, and Barnes & Noble's Nook sales did so well that they are considering spinning off the division into its own independent company. More Market News

Economic News

US jobless rate falls to three-year low as 200,000 Americans find jobs
Companies hired 212,000 workers in December, which helped drive the unemployment rate down to 8.5pc from a revised 8.7pc in November, according to the Bureau of Labor. Click here to read the full article
Average rate on 30-year fixed mortgage matches record low of 3.91 pct.; 15-year to 3.23 pct.
The average rate on the 30-year fixed mortgage fell to 3.91 percent this week, Freddie Mac said Thursday. That matches the record low reached two weeks ago. Click here to read the full article

Business News

Yahoo Finds New CEO at PayPal
Yahoo Inc. (YHOO: Charts, News) hired top eBay Inc. executive Scott Thompson as its new chief executive in an effort to continue as an independent entity, but the move did little to stem questions about the struggling Internet company's future. Click here to read the full article
Kodak shares plunge on bankruptcy report
Kodak (EK: Charts, News) shares, which have already dropped over 90% in the past year, closed down 28% yesterday afternoon after the Wall Street Journal reported that the company was preparing for a bankruptcy filing in case an attempt to sell a number of digital patents fails. Click here to read the full article

Technology Focus

Amazon: Kindle Sales Best Ever For Holiday 2011
Online retailer Amazon (AMZN: Charts, News) says 2011 was the best holiday ever for its Kindle-brand e-readers and tablet computers. Inc. said Thursday that people bought more than 1 million Kindles each week in December. Click here to read the full article
Barnes & Noble Considers Spinning Off Its Nook Unit
Barnes & Noble (BKS: Charts, News), the nation’s largest book chain, said on Thursday that it was considering spinning off its Nook e-reader division in an effort to help the nascent — and expensive — digital business grow. Click here to read the full article
Published on Jan 6, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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