Apple may finally have Wall Street off its back, but now the question lingers, just what exactly is the company planning to do with its $145 billion cash hoard?» Read More
Stocks ended mixed as the major markets bounced off the day's lows following disappointing monthly housing data. "We may see some weakness, but overall we like the market. I think the direction is going to be higher," said Sebastian Leburn, chief investment officer at Weiss Capital Management, in an interview with CNBC.com.
China Mobile, the world's largest wireless carrier, beat forecasts with a near 20% rise in quarterly net profit on the back of strong subscriber growth, but analysts warn that margins may shrink as competition intensifies.
Stocks finished the day higher after the Fed chairman reassured investors that the economic outlook is not changed. "The (markets) valuation, if anything, has gotten a little bit better," Goldman, Sachs chief U.S. investment strategist Abby Joseph Cohen said. "Going forward, what matters is that the global economy still looks good."