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Five Things to Watch: Grabbing the Olympic Torch

Reacting to Apple's latest developments, anticipating Nintendo's new console and minding Bernanke's every word. Here's what we're watching…

Steve Jobs introduced the iCloud
CNBC
Steve Jobs introduced the iCloud

iVerdict: Surprises weren't in high supply at Steve Jobs' much-anticipated developers conference keynote Monday. To a significant degree, we got what we expected: the new Lion operating system for Macs, iOS5 for mobile devices as well as everything that constitutes the new iCloud service. While the "one more thing" — Apple's new iTunes Match service — had me asking all sorts of questions about what I could do with old Pink Floyd CDs, it didn't stop shares in Apple from languishing. Flop of a presentation or failure of investors to appreciate the next great Apple innovation?

The Bumpy Road:GM and Ford each meet shareholders Tuesday at their respective annual meetings. Since reaching highwater marks in January, both companies have seen their stocks suffer through the first half of 2011. And while they've each rebounded impressively from the depths of crisis, only General Motors will be celebrating its first such meeting since returning to the public market.

Gaming's Next Generation: With so much attention paid (and rightly so) to the likes of Farmville and Angry Birds, not to mention the foibles of Sony'sPlaystation network, there's still plenty of money to made in traditional console gaming (even if console gaming looks entirely different). As it did with the blockbuster Wii, Nintendo will release its next generation console Tuesday at the annual E3 Expo well in advance of any competition from Sony or Microsoft.

Swifter, Higher, Stronger:News Corp's Fox made its case to the International Olympic Committee Monday, while Comcast's NBC and Disney's ESPN/ABC present their pitches Tuesday to be the official domestic broadcaster of the upcoming Olympics. The latest twist is that, beyond bidding on the 2014 Winter Games in Sochi, Russia and the 2016 Summer Games in Rio de Janeiro, Brazil, the networks have the option to bid on the 2018 and 2020 Games (whose sites have not been decided) as well. Sealed bids are due Tuesday and a winner could be announced by day's end.

Bernanke's Outlook: With the next supersized (read: avec news conference) Fed decision a few weeks out and a brutal week of economic data in our rear view mirror, markets will been keenly focused on any clues from Fed Chairman Ben Bernanke about policy plans as he speaks about the economic outlook in Atlanta Tuesday.