Here’s your Cheat Sheet to this week’s top stories:
Fueled by M&A buzz, the U.S. equity markets touched fresh five-year highs on Tuesday. While the action generated a lot of optimism from bulls, others remain concerned that the markets are overbought and could face abrupt declines.
At the close: DJIA: +0.39%, S&P 500: +0.73%, NASDAQ: +0.68%.
On the commodities front, WTI crude (NYSEARCA:USO) followed equities up and increased 0.89 percent to $96.71 per barrel. The March contract expires on Wednesday. Brent remained effectively flat. The yield on the 10-year T-bill increased 0.022 points to 2.023 percent.
On Tuesday, gold (NYSEARCA:GLD) futures for April delivery, the most active contract, fell $5.30 to settle at $1,601.10 per ounce, while silver (NYSEARCA:SLV) futures for March dropped 43 cents to close at $29.42. It was the lowest close for gold in more than six months. Both precious metals traded in the red, despite more chatter of currency wars and a recent report on global gold demand… (Read more.)
Here’s your Cheat Sheet to today’s top stock stories:
Google (NASDAQ:GOOG) surfed to a new all-time high on a wave of market optimism on Tuesday. The search giant advanced to $807 per share before simmering down to close slightly lower. Meanwhile, regulators in Europe may possibly slap Google with a $1 billion fine… (Read more.)
Netflix (NASDAQ:NFLX) has been pretty quiet about the viewership statistics for its original series, House of Cards. All 13 episodes of the dark political drama went live recently, and Netflix has just revealed that it is the most-watched show on the video-streaming service since its release. That’s great, but will it translate into more subscribers? A recent survey could have the answer… (Read more.)
Apple (NASDAQ:AAPL) accounted for the largest share of consumer technology revenue generated in the U.S. last year, while being the third-largest consumer tech retailer, according to new data released by The NPD Group. The iPhone maker accounted for 19.9 percent of all domestic consumer tech revenue, up from 17.3 percent in 2011… (Read more.)
Shares of Baidu (NASDAQ:BIDU) faced selling pressure on Tuesday, despite broad market gains. The Chinese search giant received a double blow from analysts at Goldman Sachs and Citigroup, which both delivered some bearish sentiment about its mobile monetization and competitive pressure. Shares closed to day down 2.27 percent… (Read more.)
Office supply retailers stole investor attention on Tuesday morning. Shares of OfficeMax (NYSE:OMX) and Office Depot (NYSE:ODP) soared after The Wall Street Journal reported that the two companies were engaged in merger talks, closing the day up 21 and 9.4 percent, respectively… (Read more.)
Demand for new cars in Europe declined in January for the fourth year in a row, according to data released on Tuesday. The European Automobile Manufacturers’ Association reported that passenger car registrations — a proxy for sales — declined 8.7 percent year over year, reaching an historic low of just 885,159 units… (Read more.)