Wall Street News

Wall Street News

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U.S. stocks rise and fall today, and why

Summary:

  • Stocks rose because theres a sharp increase of consumer confidence
  • Apple Inc. climbed 3.2 percent as the iPhone maker is said to be selling $17 billion of bonds in the biggest U.S. corporate offering on record.
  • Avon Products Inc. gained 3.2 percent after earnings topped analysts’ forecasts.
  • Stocks dropped because investors lost confidence in the market when DOW JONES beat their record yesterday and they thought “hey this can’t go any higher” so they pulled out.
  • Business activity in the U.S. unexpectedly shrank in April for the first time in more than three years.
  • Best buy is leaving Europe by selling its 50 percent stake in a mobile-phone venture to partner Carphone Warehouse Group Plc for 500 million pounds ($775 million).
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April 30, 2013

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