U.S. Stocks Rise on China Amid American Budget Talks (Bloomberg) U.S. stocks advanced, after the longest weekly rally in the Standard & Poor’s 500 Index since August, as economic data in China beat estimates and investors watched the latest developments in American budget talks. “China hit that trough and is starting to see an acceleration of growth,” said Tom Wirth, who helps manage $1.6 billion as senior investment officer for Chemung Canal Trust Co., in Elmira, N.Y. “As far as our market goes, I don’t think there’s anything out there right now. It’s waiting on the politicians.”
Top 10 Tech Trends to Watch in 2013 (MarketWatch) The technology industry has been going through major changes that became even more pronounced in 2012. Events and trends this year have set the stage for potentially significant shifts in 2013. MarketWatch identified 10 tech industry trends to watch and questions to ask in the coming year.
Europe Backs Monti Reforms as Italy Crisis Hits Markets (Reuters) European partners urged the next Italian government on Monday to stick to Prime Minister Mario Monti’s reform agenda, after his decision to resign early and Silvio Berlusconi’s return to frontline politics rattled financial markets. Monti’s surprise weekend announcement that he would quit because Berlusconi’s People of Freedom (PDL) party had withdrawn its support for his technocrat government pushed up Italy’s borrowing costs and prompted a stock market sell-off.
It was a slow week for U.S. markets with the Dow Jones Industrial average up 0.99%, and the S&P 500 essentially flat, rising 0.13%. Thanks largely to the sharp sell-off in Apple, the NASDAQ was down 1.07%. In contrast, the MCSI Emerging Markets Index was up 2.39%, confirming the start of what is always the strongest part of the year for global stock markets. Your biggest gainer was Bank of Ireland (IRE), which rose 8.13% and is now up 20% in just the last two weeks. The Iri
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