Dow slid 9 (clinging to breakeven all day), decliners over advancers 5-4 & NAZ was up 4. The MLP index slipped 1 to the 448s & the REIT index fell 2+ to the 282s. Junk bond funds sold off, down around 2%, & Treasuries were weak, taking the yield on the 10 year Treasury over 2.2%. Oil slid
from a 2-week high after industrial production slowed in
China, the world’s 2nd-biggest oil-consuming country. Gold edged higher in meaningless trading.
AMJ (Alerian MLP Index tracking fund)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Photo: Yahoo
Apple announced new MacBooks, a new Mac operating system & an update to its iWork package of productivity software during a presentation at the company's annual conference for software developers in San Francisco. It's also expected to reveal a digital radio service & changes to the software behind iPhones & iPads, &, also show off a simplified look on iPhones & iPads, the most radical design change since the iPhone made its debut in 2007. While design modifications could help AAPL distinguish its devices from rival phones & tablets, they risk alienating longtime users. For instance, AAPL riled users last fall when it kicked out a beloved app using Google's (GOOG) mapping service & replaced it with its own Maps app. What was supposed to be a triumph served to underscore strength in maps from GOOG. AAPL is also expected to debut a streaming music service dubbed iRadio. Presenters include CEO Tim Cook & Craig Federighi, senior VP for software engineering. The stock slid 4 on its "exciting news."
Apple Unveils New OS X Software With More Integration
Photo: Bloomberg
GOOG has agreed to acquire map-software provider Waze for about $1.1B, seeking to keep competitors such as Facebook (FB) from eroding its lead in mobile-navigation programs. The deal may be announced later today. As consumers shift to smartphones & tablets & away from PCs, FB & GOOG are increasing efforts to court customers on the move. Waze, whose mobile app solicits input from more than 40M users to improve directions, & display traffic & road-hazard details, would help GOOG add social features to its mapping tool & help it extend its dominance in maps. The deal would let GOOG eliminate a threat to its home-grown navigation app & would also keep a growing provider of mapping software away from other companies. The stock went up $10.
Google Said to Agree to Acquire Waze for $1.1 Billion for Its Social Maps
The Xbox 360 is getting a makeover. Microsoft, a Dow stock, kicked off its Electronic Entertainment Expo presentation by unveiling a new Xbox 360 with a design inspired by its upcoming next-generation Xbox One console. Yusuf Mehdi, VP of marketing & strategy, says the updated Xbox 360 is "smaller, sleeker and as quiet as ever." Mehdi added it would be available beginning Mon. MSFT boasted that hundreds of new games are still coming to Xbox 360, which was originally released 8 years ago as the high-definition successor to the Xbox. The gaming console has outsold rivals from Nintendo & Sony for the past 2 years. Xbox One console was debuted earlier this year & is set for release later this year. The Xbox One will have 13 exclusive next-generation titles. The company also announced a new, slimmer version of the current Xbox 360 available today. The stock lost pocket change.
Microsoft Launching Redesigned Xbox 360
Stocks went nowhere today on mixed news. There were reminders that the global economy is stumbling to say the least. The next FOMC meeting is a week away & already the markets are worried, not a good sign. The markets have had a spectacular run in the last year, helped by the Federal Reserve (FED) throwing more money at the economy with its bond buying program. If that stimulus is reduced, the markets will not take the news well The FED has been pushing the market higher rather than having an improving economy raise stock prices. The stock market is vulnerable to selling without better news from the economy.
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
Treasury yields:
U.S. 3-month |
0.04% | |
U.S. 2-year |
0.31% | |
U.S. 10-year |
2.21% |
| CLN13.NYM | ...Crude Oil Jul 13 | ....95.77 |  ...0.26 | (0.3%) |
Photo: Yahoo
Apple announced new MacBooks, a new Mac operating system & an update to its iWork package of productivity software during a presentation at the company's annual conference for software developers in San Francisco. It's also expected to reveal a digital radio service & changes to the software behind iPhones & iPads, &, also show off a simplified look on iPhones & iPads, the most radical design change since the iPhone made its debut in 2007. While design modifications could help AAPL distinguish its devices from rival phones & tablets, they risk alienating longtime users. For instance, AAPL riled users last fall when it kicked out a beloved app using Google's (GOOG) mapping service & replaced it with its own Maps app. What was supposed to be a triumph served to underscore strength in maps from GOOG. AAPL is also expected to debut a streaming music service dubbed iRadio. Presenters include CEO Tim Cook & Craig Federighi, senior VP for software engineering. The stock slid 4 on its "exciting news."
Apple Unveils New OS X Software With More Integration
Apple (AAPL)
Photo: Bloomberg
GOOG has agreed to acquire map-software provider Waze for about $1.1B, seeking to keep competitors such as Facebook (FB) from eroding its lead in mobile-navigation programs. The deal may be announced later today. As consumers shift to smartphones & tablets & away from PCs, FB & GOOG are increasing efforts to court customers on the move. Waze, whose mobile app solicits input from more than 40M users to improve directions, & display traffic & road-hazard details, would help GOOG add social features to its mapping tool & help it extend its dominance in maps. The deal would let GOOG eliminate a threat to its home-grown navigation app & would also keep a growing provider of mapping software away from other companies. The stock went up $10.
Google Said to Agree to Acquire Waze for $1.1 Billion for Its Social Maps
Google (GOOG)
The Xbox 360 is getting a makeover. Microsoft, a Dow stock, kicked off its Electronic Entertainment Expo presentation by unveiling a new Xbox 360 with a design inspired by its upcoming next-generation Xbox One console. Yusuf Mehdi, VP of marketing & strategy, says the updated Xbox 360 is "smaller, sleeker and as quiet as ever." Mehdi added it would be available beginning Mon. MSFT boasted that hundreds of new games are still coming to Xbox 360, which was originally released 8 years ago as the high-definition successor to the Xbox. The gaming console has outsold rivals from Nintendo & Sony for the past 2 years. Xbox One console was debuted earlier this year & is set for release later this year. The Xbox One will have 13 exclusive next-generation titles. The company also announced a new, slimmer version of the current Xbox 360 available today. The stock lost pocket change.
Microsoft Launching Redesigned Xbox 360
Microsoft (MSFT)
Stocks went nowhere today on mixed news. There were reminders that the global economy is stumbling to say the least. The next FOMC meeting is a week away & already the markets are worried, not a good sign. The markets have had a spectacular run in the last year, helped by the Federal Reserve (FED) throwing more money at the economy with its bond buying program. If that stimulus is reduced, the markets will not take the news well The FED has been pushing the market higher rather than having an improving economy raise stock prices. The stock market is vulnerable to selling without better news from the economy.
Dow Jones Industrials
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