The major US equity indices closed mixed Friday after a positive report on consumer spending and an announcement the Euro Zone with get more money in their rescue fund. The Commerce Department reported today consumer spending rose 0.8%, the largest gain in seven months. This is more than expected with the average consensus estimate around an increase of 0.6% This brings hope that the biggest part of the economy is strengthening. Euro zone finance ministers agreed today on a temporary increase in their financial rescue fund to prevent a second-coming of the sovereign debt crisis. The increase was 700 billion euros from 500 billion, making the firewall fund reach over one trillion american dollars
we won’t know what is going to happen on january 12013 until we get there. it is hard for me to make a case you should excel now or run away from the market. this in case you could have six months ago. it was wrong then. it will be wrong again.
Good afternoon, I’m Courtney Woodworth and you’re watching Smartrend News. Today is Thursday February 2nd, 2012 and this is your market close wrap up. US equity indices closed mixed Thursday as 367000 jobless claims were reported, versus the expected 317000.
“The major US equity indices closed mixed Wednesday as the Dow broke though into positive territory and the other averages came off their worst levels. The market opened lower and fought to get to positive territory by the end of the session. There had been little in the way of help, as little economic data had been reported in the US In Europe, the news had been fairly quiet as well, as everyone awaits the upcoming EU summit. In corporate news, Citigroup (NYSE:C) CEO Vikram Pandit announced that the bank plans to cut 4500 jobs, or about 1.5% of its global workforce of 267000, over the next few quarters. And, JC Penney Company (NYSE:JCP) and Martha Stewart Living Omnimedia (NYSE:MSO) announced they have entered into a strategic alliance to create a unique and comprehensive retail experience.
Oct. 14 (Bloomberg) — Shawn Carolan, a managing director at Menlo Ventures, talks about his investment in Siri Inc., a voice-recognition software company Apple Inc. acquired. Apple integrated the technology into its iPhone 4S. He speaks with Cory Johnson on Bloomberg Television’s “Bloomberg West.” Jon Erlichman also speaks.
Oct. 3 (Bloomberg) — Mark Hurd, co-president of Oracle Corp., talks about the company’s products, acquisitions and growth strategy. He speaks with Cory Johnson on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)
Sept. 30 (Bloomberg) — Daniel Wiener, chairman of Adviser Investment Management, David Blanchflower, a professor at Dartmouth College and Bloomberg Television contributing editor, and Jonathan Weil, a columnist for Bloomberg View, talk about the outlook for the US economy and investment strategy. They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Weil is a Bloomberg View columnist.
Sept. 28 (Bloomberg) — Peter Tchir, managing director at TF Market Advisors, Troy Gayeski, senior portfolio manager at SkyBridge Capital LLC, and Peter Coy, economics editor for Bloomberg Businessweek, talk about the European sovereign-debt crisis and investment strategy to take advantage of distress in the region’s credit markets. They speak with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
Sept. 27 (Bloomberg) — Olivier Sarkozy, managing director of global financial services at Carlyle Group, talks about Europe’s sovereign debt crisis and the possible impact on the region’s banks. He speaks with Cristina Alesci at the Bloomberg Dealmakers Summit in New York on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)
Sept. 16 (Bloomberg) — Joseph Stiglitz, a Nobel-prize winning economist and a professor at Columbia University, discusses the risk of a recession in the US and Europe. He spoke yesterday with Bloomberg HT’s Cuneyt Basaran in Istanbul. (Source: Bloomberg)