Apple Heads to Court and the Debt Ceiling Heads to a Vote: Market Recap

The markets started Friday with a hangover, but picked themselves up to close in mixed territory. The big news in the afternoon that turned everything around was a Republican announcement that next week, the House would vote on a short-term increase to the debt ceiling.

At close: DJIA: +0.39%, S&P 500: +0.34%, NASDAQ: -0.04%.

On the commodities front, Oil (NYSE:USO) remained flat at $95.48 per barrel. Precious metals were mixed, with Gold (NYSE:GLD) falling 0.40 percent to $1,684.00 per ounce, and Silver (NYSE:SLV) climbing 0.13 percent to $31.84 per ounce. The yield on the 10-year T-bill fell 0.041 points to 1.839 percent.

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

Apple (NASDAQ:AAPL) chief executive Tim Cook has been asked to give a court deposition in a lawsuit against the iPhone maker and several other tech companies that claims they violated antitrust laws. According to the lawsuit filed by several former employees, the companies entered into agreements to not place “cold calls” to recruit workers from each other… (Read more.)

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Increases in wealth management and investment banking pushed Morgan Stanley’s (NYSE:MS) fourth-quarter earnings above analysts’ expectations. But despite these positives, the results revealed continued problems in the firm’s business… (Read more.)

After months of deliberating with the Federal Communications Commission, Liberty Media Corp. (NASDAQ:LMCAD) has completed its bid for a majority stake in Sirius XM Radio (NASDAQ:SIRI). The media company, which recently spun off its TV and movie business Starz (NASDAQ:STRZA) into an independent entity, purchased 50 million shares of Sirius at $3.15 a piece, bringing its total stake to 50.7 percent… (Read more.)

The Internet revolutionized how people view and consume information. From email to social-media networking, users are finding more content to digest than ever before. The popularity of the Internet also paved the way for more advertising in our daily lives.

According to comScore, a leader in measuring several aspects of the digital world, Americans are viewing massive amounts of online video. The company recently announced that data from its Video Metrix service showed about 182 million U.S. Internet users watched nearly 38.7 billion online content videos in December… (Read more.)

The price movement of gold and silver often attract much attention. When prices make a noticeable increase, it regularly leads to permabulls calling for the next great explosion in precious metals. On the other hand, any dips or corrections lead to critics calling for an end to the 12-year bull market. Both sides are debatable, but there is no denying that physical bullion made impressive moves this past week… (Read more.)

United States Treasury Secretary Timothy Geithner will be leaving for greener pastures on January 25. Geithner has been looking to leave his post for a while, but has delayed an exit because of the tremendous fiscal problems facing the country. First it was the fiscal cliff, and now it’s the debt ceiling, which has become politically tied to the half of the fiscal cliff that has yet to be resolved: the sequester.

President Barack Obama has nominated White House chief of staff Jack Lew to fill his shoes… (Read more.)

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