iPhone Orders Questioned and Obama’s Press Conference: Market Recap
President Barack Obama held the last press conference of his first term on Monday. The President’s swearing-in ceremony will take place in just one week, on January 21, following a private oath of office on January 20.
“Right now, our economy is growing and our businesses are creating new jobs,” Obama said at the beginning of the press conference. “So, we are poised for a good year if we make smart decisions and sound investments, and as long as Washington politics don’t get in the way of America’s progress.” (Read more.)
At the Asian Financial Forum in Hong Kong on Monday, Chicago Fed president Charles Evans said that “Given more explicit conditionality, markets can be more confident that we will provide the monetary accommodation necessary to close the large resource gaps that currently exist. Additionally, the public can be more certain that we will not wait too long to tighten if inflation were to become a substantial concern.” Evans rotates into a voting spot this year, and his focus on removing uncertainty could be a boon for the markets… (Read more.)
With consumers no longer viewing personal computers as the number one gift, and problems that go far beyond a weak economy, preliminary worldwide PC shipments declined in the fourth quarter. According to Gartner, the world’s leading information technology research and advisory company, PC shipments on a global basis totaled 90.3 million units in the fourth quarter, representing a 4.9 percent drop from the prior year… (Read more.)
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