Themajor US equity indices closed higher Monday after France and Germany pledged to do everything necessary to support Europe’s banks, and as investors look ahead to the start of Q3 earnings season. German Chancellor Angela Merkel and French President Nicolas Sarkozy said that they will reveal plans for a banking-sector recapitalization by early November. In corporate news, Apple (NASDAQ:AAPL) shares closed up over 5% after reporting that first-day orders for its new iPhone 4S topped 1 million. Sprint Nextel (NYSE:S) closed down 7.9% to $2.22 after several analysts downgraded shares of the company following their annual analyst meeting. The Dow Jones Industrial Average (DJI) closed 2.97% higher at 11433.18, the S&P500 (S&P 500 INDEX,RTH) iclosed 3.41% higher at 1194.89, and the Nasdaq Composite (IXIC) closed 3.50% higher at 2566.05.
The major US equity indices closed higher Thursday after a better-than-expected report on jobless claims and after the ECB said it would step up its efforts to bolster banks in the region. The Labor Department reported that applications for jobless benefits last week rose by 6000 to 401000 and the four-week average dropped to 414000. ECB President Jean-Claude Trichet spoke of increased downside risk to the region and said that the ECB would revive its purchases of covered bonds and resume yearlong loans for banks in an effort to inject liquidity in the financial system.
Themajor US equity indices closed mixed Thursday after jobless claims fell to a five-month low and after the government raised its estimate of the nation’s economic growth for Q2. The Labor Department reported that applications for jobless benefits last week fell by 37000 to 391000, which is the lowest level since April. Bloomberg reported that the US economy rose at a 1.3% pace in the second quarter, faster than estimated last month and assisted by exports and spending on services.
Sept. 20 (Bloomberg) — Matt Murphy, a partner at venture capital firm Kleiner Perkins Caufield & Byers, talks about the outlook for Apple Inc. under Chief Executive Officer Tim Cook. Murphy also discusses Kleiner Perkins’s investments, Groupon Inc.’s filing for an initial public offering and the outlook for mobile media.
The major US equity closed mixed Tuesday as investors remained cautious with the European Debt Crisis still weighing on the market. The International Monetary Fund sharply downgraded its outlook for the United States economy through 2012 because of weak growth and concern that Europe won’t be able to solve its debt crisis, the organization said in its economic outlook Tuesday. In corporate news, Carnival Corporation (NYSE:CCL) reported Q3 of $1.71, better than analyst estimates of $1.63 per share. Revenues for the quarter rose 11.7% to $5.1 billion, better than consensus estimates of $4.91 billion. Union leaders from General Motors (NYSE:GM) factories around the county have approved a new four-year contract with the company
The major US equity indices closed higher Monday, despite continued worries over Europe’s debt troubles. The National Association for Business Economics predicts that the economy will grow 1.7% this year, down from the May prediction of 2.8% expansion. For 2012, it expects growth of 2.3%, compared to a May forecast of 3.2% growth. In corporate news, McGraw-Hill Companies (NYSE:MHP) announced that its board of directors has approved a plan that includes separation into two public companies: McGraw-Hill Markets, primarily focused on capital and commodities and McGraw-Hill Education, foucsed on education services and digital learning. Dolby (NYSE:DLB) announced today that Research in Motion (NASDAQ:RIMM) has entered into a license agreement for its use of Dolby’s audio technologies that were the subject of two lawsuits that were recently filed by Dolby against RIM
Sept. 8 (Bloomberg) — Peter Fenton, a general partner at Benchmark Capital and a Twitter Inc. board member, talks about Groupon Inc.’s business model and initial public offering outlook. Fenton also discusses prospects for Twitter and Google Inc.’s acquisition of Zagat Survey LLC.
Sept. 7 (Bloomberg) — Thomas Brown, chief executive officer at Second Curve Capital LLC and a Bloomberg Television contributing editor, talks about Bank of America Corp. naming Thomas Montag and David Darnell as co-chief operating officers and ousting Sallie Krawcheck and Joseph Price from its management ranks. Brown speaks with Erik Schatzker and Deirdre Bolton on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)
Themajor US equity indices closed lower Thursday following disappointing economic data reports. The Labor Department reported that new applications for unemployment compensation dropped 12000 to 409000 in the week ended August 27. Economists had expected new requests for jobless benefits to fall to 405000. The Commerce Department reported that outlays for US construction projects fell 1.3% in July, which is the largest decline since January, missing consensus estimates for an increase of 0.3%