After a tumultuous November, stocks have begun December with a second consecutive day of gains on strong economic news. Retailers continue to report impressive sales in response to Black Friday and Cyber Monday, and US existing home sales rose a record 10% in October, helping lift stocks. International news also contributed to the up tick as the European Central Bank continued it’s willingness to give stimulus packages to struggling countries. In corporate news, Merck (MRK) has agreed to purchase insulin producer SmartCells to increase their diabetes drug sales. h3>Word on the Street
- US stocks end in positive territory on strong economic reports domestic and abroad.
- European banks admitted to receiving aid from US Federal Reserve to help liquidity issues at the height of the global recession.
- Weekly new jobless claims rose by 26,000 last week off of a two year low.
- Merck (MRK) agrees to purchase insulin maker SmartCells in attempt to increase diabetes drug footprint.
- Sales of existing homes rose a record 10% in October, says the National Association for Retailers.
- Google (GOOG) announced the development of an algorithm to eliminate “bullying” used to suppress a company’s appearance in search results.
- Energy prices continue to rise – is this a signal of the end of traditional energy and beginning of widespread alternative energies supplied by companies like Yingli Green Energy (YGE)?
Interesting Tidbits
- The year is coming to a close and next year’s goals are beginning to form – so make the New Year’s resolution to get you and your team into strategic shape.
- Holiday shopping have you ready to rip your hair out? There’s a few ways to reduce shopping stress.
- Wondering what that random bank fee is on your statement and what you did to deserve it? Avoid the annoyance by taking these measures.
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