Facebook reached another all-time high on Wednesday, surpassing Walmart’s market value, closing at $88.86 per share. Facebook’s stock just knocked out Walmart of the top 10 list of the highest-valued companies in the Standard & Poor’s 500 Index. The social media giant is now bigger than the world’s largest retailer, in terms of the value of stock market, valuing the company at just under the $250 billion mark.
Product launch events are so decisive for marketing and promotion of any business that they can shake the financials as well as stock price of the company in a single trading day. With the launch of latest product iPhone 5, which was scheduled on Wednesday, 12th September 2012, Apple Inc. (AAPL) became the favorite stock pick of investors, speculating that it may touch new high by Friday. Though suspicious technical signals and bearish stock performance history during the earlier product launches proposed a 'call for caution', investors preferred to bet on AAPL with bullish expectations this time.
Is this the era, which was being assumed to be a dusk of the recession, turning out to be the dawn of a new one?
The pervasive 3% fall in Dow Jones, S&P 500 Index and NASDAQ – showcased a nightmare and a further alarm exposing the after effects of the recession and the slowdown. It is quite evident that the slowdown is still showing its effects in every nook and corner of the financial and economical scenario.
Gold prices and stock markets have risen, whereas the dollar has plummeted, as markets anticipate more stimulus measures by the United States Federal Reserve. Markets on Wall Street closed strongly, with the Dow Jones ahead by three percent, and the Nasdaq and S&P also rebounding.
A sigh of relief was breathed by investors on Tuesday, August 09, when the major US indices, DJIA, Nasdaq and S&P 500 had bounced back strong from their Monday losses. But it had to be short-lived! For, on Wednesday morning again, the markets slipped down terribly to give up all that was gained the day before.
The Dow Jones Industrial Average Index fell by 520 odd points to wipe out Tuesday gains which accounted for 430 points on the index.
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