Every investor has their sights focused only on what act the FED will l take tomorrow. More QE… QE3. Change in communication extended the low rates further. Or nothing. Most likely is the change in communication, less likely is full blown QE. The other end of it is whats the time table for possible mortgage purchases. Before or after the election?
Lots of questions heading into tomorrow. At least Europe is less of an uncertainty after Germany voted to ratify the ESM with conditions.
Apple (AAPL) announced the new iPhone 5 today. Stock was very volatile today and ended up 1.39% closing at $669.79 a share.
The iPhone 5 screen is 4″, up from 3.5″. The longer screen means a fifth row for apps.
The iPhone 5 is the thinnest and lightest phone Apple has ever made: 7.6 mm thin, 18 percent thinner than the iPhone 4S and the world’s thinnest smartphone. Its 112 grams, 20 percent lighter than the iPhone 4S. It has a 326 PPI Retina display. The new screen on iPhone 5 is 4 inches, 1136 by 640 pixels with a 16 x 9 aspect ratio.
Overshadowed by the Apple event was some disturbing news out of Libya where the U.S. Ambassador was killed. Oil oddly did not react.
The Dow (INDU) added 9.99 points at 0.07%. The Nasdaq (COMP) rose 9.78 points at 0.32%. And the S&P 500 (SPX) gained 3 points at .21%.
Oil dropped 16 cents to close at $97.01 a barrel.
Gold fell $1.20 to finish at $1,733.70 an ounce.
The 10-Year Note yield rose to 1.76%.