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Market Wrap for Friday, August 9: Stocks Close Lower To End Week

The U.S. stock market came under more selling pressure on Friday , with all three major market averages finishing in the red. A number of losses over the last 5 days sent the S&P 500 out with a better than 1 percent decline on the week.Although the sell-off has thus far been gradual, trepidation appears to be rising on Wall Street over the Federal Reserve's timeline for tapering its quantitative easing program. Commentary from the central bank this week has re-introduced the possibility that the Fed will scale back its bond purchases as early as the September FOMC meeting.Investors, who have become accustomed to constant liquidity injections by the central bank to support the economic recovery, are unsure how the economy may fare in the absence of quantitative easing. Nevertheless, the losses were contained during the week's final trading session, with the largest decline being a 73 point pullback in the Dow.Major AveragesThe Dow Jones Industrial Average shed 73 points, or 0.47 percent...

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    Shares of Youku Inc. and Tudou Holdings soared Monday morning as the two Chinese online video companies unveiled a plan to merge. Youku shares were up more than 22% ...

  2. China's Youku To Buy Tudou In All Stock Swap

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  6. China video site Youku raises $40 million for expansion

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    Baidu Inc. (BIDU) said it will pay $370 million to acquire the online video unit of PPStream Inc., a popular streaming television service in China, making it one of ...

  2. Baidu Buys PPStream Unit for $370 Million

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  3. Technology Sector Wrap

    The Technology sector (XLK) showed little movement while the S&P 500 gained 0.2% during trading today.The ETF, as a proxy for the sector, tracked closer to the overa...

  4. American Intl Group, Best Buy Included in Stocks Up on High Volume Monday

    There are a few stocks that are up on high volume today:Trading with a volume of 28.3 million, or 2.8 times its average daily volume, American Intl Group (NYSE:AIG) ...

  5. Youku , Tudou Shares Each Fall More Than 5%

    Chinese online video site operator Youku Inc. was off by 95 cents a share, or 5%, at $18.12, while Tudou Holdings Ltd. fell $2.12 a share, or more than 7%, to $27.21...

  6. Technology Sector Wrap

    During trading today, both the Technology sector (XLK) and the S&P500 showed little movement.The ETF has moved down across its 50-day moving average of $29.66 today....

  7. Youku to Buy Tudou, Creating China Online Video Giant

    China's top two online video companies are joining forces, with Youku.com buying smaller rival Tudou Holdings Ltd in an all-stock deal worth more than $1 billion, cr...

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