S&P Touches 2k, Amazon Makes Largest Purchase in its History
August 26, 2014 8:05 am
After closing yesterday for the August Bank Holiday, the FTSE is back and climbing; the index is currently up by around 0.3% as it absorbs yesterday’s US news. During Monday’s America session the S&P managed to breach the long-elusive 2,000 level, fuelled by ECB Head Mario Draghi’s comments at the Jackson Hole Symposium, where he hinted at a possible Euro bond-buying programme if deflation in the Euro zone continues. The DAX and CAC had yesterday’s session to respond to the news and both indices are currently down this morning, the DAX by 0.3% and the CAC very slightly at 0.07%, as French markets wait to see what the fallout will be in light of yesterday’s dissolution of the government.
Despite the index dipping slightly in the aftermath, closing below 2k at just under 1,998 , the new record level has for the time being silenced rumblings concerning the stock market rally having reached its peak, which was a point of concern in the aftermath of disappointing results in early August. The Dow also rose yesterday, closing at a level of 17,076.87.
Burger King is intending to merge with Canadian Coffee company Tim Hortons, which will give the American Fast-food chain the ability to move its headquarters (and therefore its tax base) to Canada. This move is the latest in a spate of similar deals by US companies, with the process having become known in popular culture as ‘inversion’. US Politicians may not like this process, but it certainly seems as if investors do; Burger King stock was up by a whopping 19.51% yesterday, closing at $32.40 per share.
In other company-related news, Amazon has purchased Twitch for just under $1 billion. Until recently Google was the big name linked most closely with the online gaming company, with Yahoo also being mentioned as an interested party. The $970 million purchase is the largest in Amazon’s history, as it seeks to tap into further new markets in the wake of its recent smart-phone debut. Started in 2011, Twitch has evolved into a major playing in the online gaming industry; it had 55 million unique viewers in July, up from just 3.2 million when it first opened. Amazon’s share price was up by 0.73% at yesterday’s close.
After closing yesterday for the August Bank Holiday, the FTSE is back and climbing; the index is currently up by around 0.3% as it absorbs yesterday’s US news. During Monday’s America session the S&P managed to breach the long-elusive 2,000 level, fuelled by ECB Head Mario Draghi’s comments at the Jackson Hole Symposium, where he hinted at a possible Euro bond-buying programme if deflation in the Euro zone continues. The DAX and CAC had yesterday’s session to respond to the news and both indices are currently down this morning, the DAX by 0.3% and the CAC very slightly at 0.07%, as French markets wait to see what the fallout will be in light of yesterday’s dissolution of the government.
Despite the index dipping slightly in the aftermath, closing below 2k at just under 1,998 , the new record level has for the time being silenced rumblings concerning the stock market rally having reached its peak, which was a point of concern in the aftermath of disappointing results in early August. The Dow also rose yesterday, closing at a level of 17,076.87.
Burger King is intending to merge with Canadian Coffee company Tim Hortons, which will give the American Fast-food chain the ability to move its headquarters (and therefore its tax base) to Canada. This move is the latest in a spate of similar deals by US companies, with the process having become known in popular culture as ‘inversion’. US Politicians may not like this process, but it certainly seems as if investors do; Burger King stock was up by a whopping 19.51% yesterday, closing at $32.40 per share.
In other company-related news, Amazon has purchased Twitch for just under $1 billion. Until recently Google was the big name linked most closely with the online gaming company, with Yahoo also being mentioned as an interested party. The $970 million purchase is the largest in Amazon’s history, as it seeks to tap into further new markets in the wake of its recent smart-phone debut. Started in 2011, Twitch has evolved into a major playing in the online gaming industry; it had 55 million unique viewers in July, up from just 3.2 million when it first opened. Amazon’s share price was up by 0.73% at yesterday’s close.
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