Must Know Market Wrap: DJIA Closes Above 12,800!

Markets closed up on Wall Street today:
Dow +0.62%, S&P +0.74%, Nasdaq +0.45%, Oil –0.18%, Gold -0.42%.

On the commodities front, Oil (NYSE:USO) declined to $89.01 a barrel. Precious metals also declined, with Gold (NYSE:GLD) falling to $1,583 an ounce while Silver (NYSE:SLV) fell 0.03% to settle at $27.27.

Here’s your Cheat Sheet to today’s top stock stories:

Apple’s (NASDAQ:AAPL) iPhone is slimming down, according to a Wall Street Journal report citing sources who say Apple will use a new technology that makes the smartphone’s screen thinner. The svelte new phone is already reportedly being manufactured by Asian component makers, including Japanese liquid-crystal-display makers Sharp Corp. and Japan Display Inc., as well as LG Display (NYSE:LPL).

Featured Reading: Will New Apple Products PUMP Shares Higher?

On this rising market day, Cambridge Silicon Radio PLC’s (CSRE) U.S. shares rose 31 percent after the company announced a $310 million deal to sell its mobile technology business to Samsung Electronics (KR:005930).

Mattel Inc.’s (NASDAQ:MAT) shares jumped 10 percent after reporting its second quarter earnings. Net income increased 20 percent to $96.2 million ($.28 cents a share), up from $80.5 million ($0.23 cents a share) from the previous year.

Over on the downside, State Street Corp. ‘s (NYSE:STT) shares fell six percent after announcing a decline in its second quarter earnings. The company also said it will purchase Goldman Sachs’ (NYSE:GS) hedge fund administration business for $550 million.

Cheniere Energy Inc. ‘s (AMEX:LNG) shares dropped six percent after the company said it would increase its secondary public offering size to 28 million shares.

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