Guest Post by Anil Gupta
Twitter is a Micro-Blogging and Social Networking website that enables us to reach our targeted audience with our massages in the form of tweets that can carry up to 140 characters. There has been lots of buzz about Twitter all over the internet since Twitter was launched in 2006 by Jack Dorsey. There are hundreds of applications and software available on internet that promises to help you increase your Twitter followers and help to make money online with your Twitter account.
Here is a quick recap of what was for the most part a quiet session:
- Wall Street ended the week on a mixed note. The Dow fell modestly on the day, while the Nasdaq was able to hang on to a small gain.
- Palm supported the Nasdaq. The company predicted that it will be cash-flow positive by the end of the quarter. Palm shares gained 2.23 to 16.22. Sprint, which provides services for Palm Pre phones, closed up 31 cents at 4.99.
- Energy stocks fell as oil slipped by over a dollar per barrel.
- Health care stocks weakened as Congressional rhetoric supported reform of the industry.
- Economic news appeared neutral. The U.S. savings rate jumped to a 15-year high in May. That may be good news long-term for the economy, but in the short term, it suggests lower consumer spending.
- A call by China for a global currency put pressure on the dollar.
- The Dow closed down 34.01 at 8438.39.
- Rebalancing of Russell stock indexes created a flurry of activity at the close, and NYSE volume totaled over 2.3 billion shares.
- The S&P 500 was down one point.
- The Nasdaq gained 8.68.
- Advancing issues beat decliners by 3-2 on the NYSE and by nearly 2-1 on the Nasdaq.
- The 10-year Treasury note rose 4/32 to yield 3.52%.
- For the week, the Dow was down 101 points, or 1.2%. The S&P 500 was down 2 points, or 0.3%, and the Nasdaq gained 10 points, or 0.6%.
Russia’s energy giant Gazprom has signed a $2.5bn (1.53bn) deal with Nigeria’s state operated NNPC, to invest in a new joint venture.
Since the dawn of the internet, more and more people have turned to it for everything from communicating with friends and family, find old schoolmates, and academic research to marketing products and services and expanding and growing businesses. Now, many people even rely on it to make money. Just over the past five years, the internet has bloomed with tons of ways to make money at home. This opportunity presents people with a wide array of options. However, for those who aren’t too familiar with the internet and how to utilize it to make money, things can seem a bit tricky.
The market is down only slightly this morning, which is normal given the strong rally yesterday. We got some good economic news, with personal incomes for May rising +1.4% vs. expectations for a +0.3% increase. Personal spending only rose +0.3%, in-line. People continue to hoard money, build savings, and hopefully pay down debt. At some point, this will lead to an unleashing of pent-up demand, and result in very strong economic growth.
This morning’s post is a bit late because I haven’t been able to take my eyes and ears off of this Congressional hearing with Fed Chair Bernanke. The real issue they’re trying to get at is whether Bernanke and Paulson strong-armed BofA’s Ken Lewis into acquiring Merrill Lynch.
The Fed didn’t offer any surprises, although they did sound a touch more constructive on the economy. Here is the statement that was released:
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ShorterVerbatim Roger L. Simon:
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