Dow dropped 47, decliners over advancers 3-2 & NAZ was off 7 (losses reduced by Apple reaching a new record).
MLPs hardly changed while the REIT index dropped 1+ to 251. Junk bond funds were mixed & Treasuries fell. Oil declined on concern that Greece will fail to take sufficient steps to avert a default. Gold also pulled back.
Greek PM Papademos
Photo: Yahoo
Chancellor Merkel told Greece to make up its mind fast on accepting the painful terms for a new EU/IMF bailout. However, the country's leaders responded by delaying their decision for another day. Failure to strike a deal to secure the €130B ($170B) rescue (much of which Germany will fund) risks pushing Greece into a chaotic debt default. Merkel expressed the exasperation spreading among euro zone leaders at seemingly endless wrangling that has yet to produce a definitive acceptance of the austerity& reform. "I honestly can't understand how additional days will help. Time is of the essence. A lot is at stake for the entire euro zone," she told a news conference with French President Sarkozy. A statement issued shortly after Merkel spoke gave no reason for the delay. However, it said Papademos would hold further talks. Merkel made clear that her patience was wearing thin on a deal. In a fresh sign of mistrust, the German leader said she & Sarkozy agreed Greece should deposit revenue to meet future interest payments in a special escrow account to guarantee that creditors were paid consistently. Frustration is the key word in Europe.
Greeks Delay Bailout Talks As Merkel Demands Action
Photo: Bloomberg
Global smartphone shipments surged 55% in Q4. The Apple (AAPL) iPhone 4S countered declines by Research in Motion (RIMM) & Nokia (NOK) according to International Data Corporation (IDC). Shipments rose to 158M units from 102M a year earlier, exceeding forecast for a 40% gain. AAPL sold 37M iPhones, helping it profit in the period. By the end of 2011, one out of every 3 mobile phones shipped worldwide was a smartphone. Apple’s share of the global smartphone market jumped to 24% from 16% a year earlier, regaining its top spot from Samsung, which had overtaken the iPhone- maker in Q3. Samsung’s share climbed to 23% in Q4 from 9.4% a year earlier, IDC said. Make no mistake, Samsuing is a major rival for AAPL. AAPL stock remains hot, gaining 4 to 464.
Smartphone Shipments Jump 55%, Led by IPhone
Markets (except for AAPL) are just meandering today awaiting developments in Greece. That situation is going from bad to worse. Earnings season is largely over, so Greece will take center stage. Iran looks like it's getting ready to play hardball as the mideast has an abundance of problems. The days in Feb are limited & Congress has to come up with its deal to extend tax benefits.
S&P 500 Financials Sector Index
| Value | 196.88 | |
| Change | -1.48 (-0.7%) |
MLPs hardly changed while the REIT index dropped 1+ to 251. Junk bond funds were mixed & Treasuries fell. Oil declined on concern that Greece will fail to take sufficient steps to avert a default. Gold also pulled back.
Alerian MLP Index
| Value | 396.59 | |
| Change | -0.17 (-0.0%) |
Treasury yields:
U.S. 3-month | 0.066% | |
U.S. 2-year | 0.230% | |
U.S. 10-year | 1.912% |
| CLH12.NYM | ...Crude Oil Mar 12 | ...97.29 | ..... 0.55 | (0.6%) |
| GCG12.CMX | ...Gold Feb 12 | ......1,723.20 | ... 14.70 | (0.9%) |
Get the the latest market update:
Greek PM Papademos
Photo: Yahoo
Chancellor Merkel told Greece to make up its mind fast on accepting the painful terms for a new EU/IMF bailout. However, the country's leaders responded by delaying their decision for another day. Failure to strike a deal to secure the €130B ($170B) rescue (much of which Germany will fund) risks pushing Greece into a chaotic debt default. Merkel expressed the exasperation spreading among euro zone leaders at seemingly endless wrangling that has yet to produce a definitive acceptance of the austerity& reform. "I honestly can't understand how additional days will help. Time is of the essence. A lot is at stake for the entire euro zone," she told a news conference with French President Sarkozy. A statement issued shortly after Merkel spoke gave no reason for the delay. However, it said Papademos would hold further talks. Merkel made clear that her patience was wearing thin on a deal. In a fresh sign of mistrust, the German leader said she & Sarkozy agreed Greece should deposit revenue to meet future interest payments in a special escrow account to guarantee that creditors were paid consistently. Frustration is the key word in Europe.
Greeks Delay Bailout Talks As Merkel Demands Action
Global smartphone shipments surged 55% in Q4. The Apple (AAPL) iPhone 4S countered declines by Research in Motion (RIMM) & Nokia (NOK) according to International Data Corporation (IDC). Shipments rose to 158M units from 102M a year earlier, exceeding forecast for a 40% gain. AAPL sold 37M iPhones, helping it profit in the period. By the end of 2011, one out of every 3 mobile phones shipped worldwide was a smartphone. Apple’s share of the global smartphone market jumped to 24% from 16% a year earlier, regaining its top spot from Samsung, which had overtaken the iPhone- maker in Q3. Samsung’s share climbed to 23% in Q4 from 9.4% a year earlier, IDC said. Make no mistake, Samsuing is a major rival for AAPL. AAPL stock remains hot, gaining 4 to 464.
Smartphone Shipments Jump 55%, Led by IPhone
Apple Inc. (AAPL)
Markets (except for AAPL) are just meandering today awaiting developments in Greece. That situation is going from bad to worse. Earnings season is largely over, so Greece will take center stage. Iran looks like it's getting ready to play hardball as the mideast has an abundance of problems. The days in Feb are limited & Congress has to come up with its deal to extend tax benefits.
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