Facebook Announces Search and Amazon is Investigated: Market Recap
The U.S. equity markets were mixed on Tuesday, as participants weathered ongoing debt-ceiling drama and digested positive December retail sales numbers.
At the close: DJIA: +0.20%, S&P 500: +0.11%, NASDAQ: -0.22%.
On the commodities front, Oil (NYSEARCA:USO) fell 0.76 percent to $93.42 per barrel. Precious metals were up, with Gold (NYSEARCA:GLD) climbing 0.56 percent to $1,678.80 per ounce, and Silver (NYSEARCA:SLV) climbing 0.84 percent to $31.37 per ounce. The yield on the 10-year T-bill fell 0.012 points to 1.833 percent.
At a special press event in California, Facebook (NASDAQ:FB) unveiled a new product called Graph Search, which is a social search tool that allows users to customize how they view content through filters. The new feature delivers information with exact answers, as opposed to blue links that claim to hold the answer. Graph Search focuses on people, places, photos and interests… (Read more.)
With its share of the personal computer market hovering behind Hewlett-Packard (NYSE:HPQ) and Lenovo (LNVGY.PK), and its stock price losing almost a third of its value last year, a leveraged buyout does not seem out of the realm of possibility for Dell (NASDAQ:DELL). But while a report published in Bloomberg, indicating that the company had been discussing plans to go private, caused shares to shoot up by as much as 18 percent on Monday, not everyone was convinced of the agreement’s plausibility… (Read more.)
European regulators are not the only authorities coming after Amazon (NASDAQ:AMZN) for alleged tax avoidance. The U.S. Internal Revenue Service has determined that the company owes the agency $234 million in back taxes, a charge the Internet retailer has contested… (Read more.)