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Market Close – Apple (NASDAQ:AAPL), Cisco (NYSE:CSCO), and Toyota (NYSE:TM)
03/09/10 by Jack Aubrey
Filed under Bourbon & Bayonets
For those unaware, today marked the anniversary of last year’s Bear market decline. The Dow, S&P, and NASDAQ all ended up today, though meagerly. The Dow had been up close to 50 points earlier in the day, but faced a decline as the sun waned in the sky and ended just 15 points north of where it started. NASDAQ was up the most percentage wise, 8 points (0.4%) positive. S&P 500 was north 0.2% to end in the green by 2 points.
It was an overall good day for tech stocks. Apple (NASDAQ:AAPL) rose $3.94, and Cisco (NYSE:CSCO) today unveiled a faster overall internet router that they’ve said will “change the internet forever”. The new router, called the CRS-3, is rumored to have the capacity to reach speeds 12 times faster than the Internet giant’s current router, aptly titled the CRS-1, as well as their direct competitors. It should be interesting to see what effect this news has on their stock futures throughout the night.
News broke today that approximately 43% of American adults have less than ten thousand dollars in savings, up 4% from this time last year. Even worse, approximately 27% of workers have virtually no money saved away (or, less than $1,000). This is up from 20% from 2009, and is an indication of the consumer reaction to the years economic woes.
Finally, it was another poor day for struggling Japanese company Toyota (NYSE:TM). Stocks were down as they made headlines world wide for a dramatic story unfolded throughout the day of an out-of-control Prius speeding down a California highway shocked stock holders and consumers alike. With their numbers down in car sales in February, one must imagine this lead story will have another big effect on their spring sales. Thankfully, no one was hurt during the ordeal (Except, of course, Toyota stock holders). It’s estimated that lawsuits over this recent recall will alone cost the company around three billion dollars once all is said and done, not to mention the cost of bad press.
Go and enjoy your happy hour, because that’s all for the day!
happytom on Tue, 9th Mar 2010 8:54 PM
All toyota bashing. The Ford crash into the tree and Four family members were killed last night. The reason of crash
unsolved. NO media press.
77 years old Guadalupe Alberto a minority person killed by car crash. It might be Toyota’s fault but very fishy.
an out-of-control Prius case. If he died or seriously insured
I trust the story. But very fishy.
Oh well.
Sami B on Wed, 17th Mar 2010 2:15 PM
The market is going up.
At this point all companies have trained their internal processes to be more efficient.
Everything is uphill from here, regardless of unemployment.
However, Oil prices are tied to many industry gains in the market, which means the theory of efficient markets is being efficient in an understanding that no one has caught. Time to approach the market from a different perspective and start being certain of the uncertainties that may arise.
I bought Ford two days ago, I should have bought at 7 dollars when I knew it was going to climb this high.