U.S. stocks advanced for a second day Monday, hitting 3-month highs on optimism that Europe’s central bank will pull the eurozone out of its sovereign debt crisis. The Dow added 21 points, the Nasdaq surged 22, and S&P 500 tacked on 3.
There's little of note on the U.S. economic calendar today, sending investors looking overseas. Futures this Tuesday morning are looking flat.
Italy's recession deepened in the second quarter, with official government statistics showing the economy contracted by 0.7%.
Standard Chartered shares are dropping dramatically, as investors react to charges that the bank was involved in laundering money for Iran. New York State Department of Financial Services alleged yesterday that Standard Chartered schemed with the Iranian government to launder $250 billion from 2001 to 2007, leaving the United States' financial system "vulnerable to terrorists." Standard Chartered said it "strongly rejects" the allegations.
Apple (NASDAQ:AAPL) says Google's (NASDAQ:GOOG) YouTube won’t be included in the next version of software used in the iPhone and iPad, the latest evidence of escalating competition between the two tech giants. Apple has featured YouTube as a core application since the iPhone debuted in 2007. As Google has pushed into the smartphone market, the relationship between the two companies has frayed considerably.
Google’s Android software is now the world’s largest operating system for smartphones, used by Apple rivals including Samsung. Users who want to access YouTube on a new Apple device this fall must use the Safari Web browser. Google is currently working on its own YouTube app for Apple devices.
If you're in the market for a new car, Consumer Reports is out with its list of five cars of which you may want to steer clear. They include the Honda Civic; the magazine says it has a choppy ride, noisy cabin, vague steering, and a mediocre interior. The Toyota Prius C also got low grades for its stiff ride, slow acceleration, and cheap-looking interior trim. Rounding out the list of cars to avoid: the Jeep Liberty, Ford Edge, and Dodge Grand Caravan.
Here's an airline fee you might not mind paying: Starting this week, fliers on American Airlines can pay to have their bags delivered directly to their office, home or other destination. The service can be purchased when booking a trip up to two hours before taking off. It costs between $29.95 and $49.95, depending on the amount of luggage. If the bag's destination is 40 miles away or less, it should get there within one to four hours; American says if the address is farther away, delivery will cost a dollar more for every extra mile, and you may have to wait six hours.
Wendy's (NYSE:WEN) is treating burger lovers in Japan to lobster and caviar. The fancy fish patties will sell for $16. While the new burger selections are only available in Japan for now, Wendy's hopes the different menu items help the fast-food giant compete with chic burger brands increasingly entering the global scene.