Daily Market Overview 27.08.2012

Today both U.S. and European indices rose, as investors are having expectations for further stimulus of the economy from the world’s top policymakers. Investor’s attention is focused on Friday’s meeting at Jackson Hole, Wyoming, where there are speculations that the Federal Reserve, will provide more support to the economy and that the European Central Bank (ECB) also will act soon. Euro holds its recent gains against the U.S dollar even though German business sentiment came in worse than expected in. On that note the ECB hopes that Germany will provide more to support to deal with the European debt crisis.

The DJ30 closed at 13,124.67, declining 33.3 points (-0.25%), SPX500 closed at 1,410.44, declining 0.69 points (-0.05%) and the NASDAQ closed at 2,782.55, gaining 4.5 points
(0.16%) in today’s trading.

The CAC40 closed at 3,462.83, gaining 29.62 points (0.86%), FTSE100 closed at 5,776.60, gaining 0 points (0.00%) and DAX40 closed at 7,047.45, gaining 76.38 points (1.10%).

Apple Inc. (AAPL):
On Friday 24.08.2012, Apple won an important Patent Suit against rival and partner Korean Company, Samsung. A verdict from a U.S jury found that Samsung had copied critical features of the iPhone and iPad. Apple was rewarded with $1.05 billion in damages and the stock rise to record highs on Monday’s session. Apple is now seeking bans on eight older model Samsung Smartphones, including Galaxy S2.In addition to this, on Friday the U.S. International Trade Commission (ITC) found that Apple didn’t violate Motorola’s patents. After winning the legal litigation, Apple’s stock rose. Furthermore the company announced that they would try to reduce the cost on the iPhone, making it cheaper for consumers. Both legal victories by Apple increased even more investor’s confidence in Apple’s growth and the price rose to new highs closing at $675.68.