The Dow rose 38.45 to finish at 12,394.66 and to end a three day slide on Wednesday, according to the Wall Street Journal. The uptick was attributed to commodity prices as well as global growth stocks such as Caterpillar.
Durable goods orders down
The Associated Press reports that businesses cut back on durable goods orders by the largest amount in six months during April. Orders fell 3.6%, primarily due to difficulty in obtaining parts because of the Japanese crisis. Orders were at $189.9 billion, 22.5% lower than December 2007 before the onset of the Recession, yet 27.7% above the recession low of April 2009.
AIG shares lack market interest
The AIG shares being traded this week are falling below the $28.73 the government needs to break even on the government bailout. Shares are currently trading at $28.28 according to the Associated Press. Experts indicate the government misread the market's interest in the shares.
Twitter buys TweetDeck
USA Today reports that Twitter purchased TweetDeck for an alleged $40 million on Wednesday. TweetDeck organizes tweets as well as Facebook and LinkedIn entries.
Government approves new stickers for cars
Starting in 2013 consumers will see an even more in-depth sticker on the windows of new cars. The new sticker, approved by a joint workforce of the DOT and the EPA, will have an estimated annual fuel cost as well as an overall environment impact of the car, according to the New York Times. This is the broadest overhaul in the 35 year history of these reporting standards. The environmental impact and annual fuel cost will be estimated on performance of the car driving 15,000 miles at $3.70 per gallon.
Electric cars not taking off
A USA Today/Gallup poll indicates that 57% of Americans have no interest in buying an electric car. Concerns include worries about the range, recharge time and battery replacement costs. Nissan has only sold 1,044 of its Leaf electric cars.
Geithner/Clinton seek Egyptian support
Secretary of State, Hillary Clinton, and Secretary of the Treasury, Timothy Geithner, are appealing to the G-8 countries to contribute funds to help build Tunisia and Egypt as they emerge from their revolutions. U.S. has decided to forego its $1 billion debt from Egypt. (Because, of course, we don't have our own debt!)