Market Insider
- Friday, 10 Feb 2012 8:35 PM ETBy: Patti Domm
Markets could be facing the choppiest week of the new year, as investors watch for a resolution in the Greek debt saga.
Macduff Everton | Ironica | Getty ImagesStocks finished Friday with the biggest decline of 2012 and a spike in the VIX, volatility index, which was above 20 for the first time in nearly a month. The Dow was down 89 Friday at 12,801, and the S&P was off 9 points at 1342, south of a resistance zone at 1350, a level it failed to hold this past week.
“A lot depends on what happens over the weekend. I don’t think anything good is going to happen. I think the EU (finance ministers) was a little harsh with the Greeks. It looks like they were trying to push them out of the euro zone. It could get bumpy next week,” said Art Cashin, UBS director of floor operations.
Besides watching the latest scene in Greek’s debt drama, markets will be focused on U.S. economic reports. Retail sales and inflation data are expected, as are a series of Federal Reserve
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speakers, who may provide more clues as to Fed thinking on quantitative easing. There are still a few major earnings reports expected, from GM [GM
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], Deere [DE
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] and Comcast [CMCSA
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], the parent of CNBC. - Friday, 10 Feb 2012 5:37 PM ETBy: Lori Spechler
A storm erupted on Twitter Friday capturing the unlikely intersection of love and the Federal Reserve
. 
#FedValentines, the brainchild of @justinwolfers, an economist at University of Pennsylvania, unleashed a flood of creativity — both unexpected and hysterical.
Along with the usual pundits, the new meme drew in groups as diverse as @BudgetHawks (The Committee for a Responsible Federal Budget), some dude with the handle @JRC_ (Randall.) and the twitter streams of at least three Federal Reserve Banks.
Tweeted commentary included: “Best thing to happen to my twitter feed” and “hilarious.”
It makes one wonder just how many econo-geeks are secretly trolling the internet. The collective energies of the web produced more laughs per minute than any sitcom on TV since Seinfeld.
- Friday, 10 Feb 2012 3:23 PM ETBy: Patti Domm
February is the busiest month for dividend declarations and increases, and this year, the biggest U.S. corporations may pay out a record amount, making up for some of the cash they withheld from shareholders during the financial crisis and earlier stages of the recovery.
The dividend rate, or the payout rate by S&P 500 [.SPX Loading... ()
] companies, hit an all-time high in June 2008, but it fell sharply by August 2009.It is now up 31.8 percent since then, but still lags the 2008 level by about 2.5 percent, according to Standard and Poor’s data.
For all of last year, S&P 500 companies paid out a total $241 billion, versus the $247.9 billion they gave shareholders in 2008. The payout rate fell to a trough of $196 billion in 2009, as companies increasingly hoarded record amounts of cash.
- Friday, 10 Feb 2012 1:33 PM ETBy: Bertha Coombs
There are those who believe that Apple could be the first company ever to reach a trillion dollar valuation.
The tech giant’s valuation is now nearly half way to the 10-figure mark, with speculation Apple will launch iTV later this year driving shares to new record highs. Yet, Apple still has a way to go to become the most valuable company of all time.
Getty ImagesApple shares [AAPL Loading... ()
] are up more than 20 percent year to date. With its price hovering near $500, the company’s valuation is now about $460 billion—roughly $8 billion more than the market caps percent of Google [GOOG
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] ($198 billion) and Microsoft [MSFT
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] ($257 billion) combined. If Apple shares continue to hit new record levels, its market cap will reach $500 billion when the price reaches $537. Still, shares will need to rise another $100 above that level to put Apple in contention for the most expensive company ever.
- Friday, 10 Feb 2012 11:25 AM ETBy: Bob Pisani
S&P 500 down 1 percent, at one point today. It's not much of a selloff, but it's still a rarity — for this year.
The S&P has only seen 3 days with a drop of more than 1 percent on an intraday basis the whole year. There is not a single day this year where the S&P has closed down one percent or more.
The worst day so far this year: January 26, when the S&P closed down 0.57 percent.
- Friday, 10 Feb 2012 9:11 AM ETBy: Bob Pisani
Won't Get Fooled Again: I was 15 when the iconic Who album came out in 1971, and bought it. So, apparently, did some of the euro zone ministers.
The ministers are no longer being fooled. They will not sign off on the next 130 billion euro ($171 billion) Greek bailout bill until:
Jonathan Kitchen | Image Bank | Getty Images1) The Greek Parliament formally votes into law the measures demanded by the “troika,” along with the PSI (private sector involvement). The vote is now scheduled for Sunday;
2) specify how it will cut an additional 325 million euros ($428 million);
3) they receive pledges from the individual parties that the deal will actually be implemented once signed into law.
- Friday, 10 Feb 2012 8:11 AM ETBy: JeeYeon Park
Happy Friday! Take a look at some of Friday morning's early movers:
Microsoft [MSFT Loading... ()
] – Barclays raised its price target on the tech giant to $33 from $29. LinkedIn [LNKD Loading... ()
] – The online networking company beat Wall Street expectations. In addition, the firm handed in an outlook for the quarter and full-year that topped estimates as it sees continued strong product and subscription growth. In addition, Brokerages including Citigroup, JPMorgan and Canaccord Genuity boosted their price targets on the firm. Citigroup [C Loading... ()
] - The banking giant was forced to write off $50 million after two traders accused of attempting to influence global lending rates left the bank. - Thursday, 9 Feb 2012 5:43 PM ETBy: Patti Domm
Stocks could continue to drift higher for now as investors look for the next catalyst to drive the market.
The major market indices have all gained more than 20 percent since October, and much of that has been since December, when the European Central Bank
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provided a new liquidity program for European banks. » Read More
ABOUT MARKET INSIDER
EDITOR
- Greek Debt Saga Back on Center Stage for Markets
- When Love and the Fed Collide
- Dividend Payout Could Hit Record Amount This Year
- Apple’s Record Run: $500 Is a Magic Number
- S&P 500 Down — But Not By Much
- EU Finance Ministers Won't Get Fooled Again
- What's Shaking: Friday's Early Movers
- Stocks Looking Past Europe for a New Driver
- Nuance Doesn’t Live Up to Hype
- Commentary: USPS Stuck in the Past
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