With the July employment report and the latest Fed meeting now in the books, U.S. investors face several weeks of pondering over the issue of the so-called "taper" and whether the Fed will pull the trigger at its September meeting. Despite the uncertainty, stocks are coming off another positive week, with the Dow having chalked up its sixth straight weekly gain, and both the Dow and S&P 500 closing at record highs once again Friday.
The week begins with just one economic report, with the Institute For Supply Management out with its non-manufacturing index for July at 10 a.m. ET. The measure of the U.S services economy is expected to come in at 53.3, compared to 52.2 in June.
The pace of corporate earnings reports slows down this week, with Tyson Foods (TSN) among the few out this morning. Dun & Bradstreet (DNB), Unum Group (UNM), and Vornado Realty Trust (VNO) are among the few set to report after today's closing bell.
Berkshire Hathaway (BRKB) is among our stocks to watch today, as Warren Buffett's company earns $2,763 per class A share for the second quarter, beating estimates of $2,163. Berkshire's earnings increase was helped by gains in the value of derivative contracts as well as its investments.
Time Warner Cable (TWC) has dropped CBS (CBS) stations from its systems in New York, Los Angeles, and other markets, as the two sides were unable to come to agreement on transmission fees despite extending a deadline several times.
Apple (AAPL) will be able to sell some older versions of its iPhone and iPad, after the White House overturned the International Trade Commission's ban on the sale of those items. The panel had originally ruled that the devices infringed a patent held by Samsung.
Goldman Sachs (GS) and the London Metal Exchange are co-defendants in a class action lawsuit involving aluminum storage. Both LME and Goldman say the suit, which alleges monopolistic behavior, is without merit.
IAC/InteractiveCorp (IACI) has sold Newsweek to digital media company IBT Media for an undisclosed price.
JetBlue (JBLU) will unveil a new plan today to add premium seats to some of its flights. The seats will be part of "suites" and will convert into beds that lie flat, along with other amenities.
Cablevision (CVC) CEO James Dolan told the Wall Street Journal his company could eventually stop offering television service and make broadband its primary product.
Facebook (FB) finished Friday trading above its IPO price of $38 for only the second time in its history, and the first time since its debut day on May 18, 2012.