Money Minute: Demand for Music Downloads Slips; Investors Ready for Flood of Earnings

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Music downloads take a sudden downturn. That's one of five money stories you need to know this Monday.

This is the busiest week of the corporate earnings season, with nearly one-third of the companies in the S&P 500 providing quarterly report cards. Among those we'll be paying close attention to: Microsoft (MSFT), McDonald's (MCD), Boeing (BA), AT&T (T), Procter & Gamble (PG), Amazon.com (AMZN) and Ford (F). All of them are leaders in key sectors of the economy, and their performance will tell us a lot about how their industries are performing, and give important clues about consumer spending and the overall economy.

Investors would love more of the same, after the market posted strong gains last week. The Dow Jones industrial average (^DJI) rose more than one percent, the Standard & Poor's 500 index (^GPSC) jumped 2 percent to a record high, and the Nasdaq composite index (^IXIC) soared more than 3 percent.

US-IT-INTERNET-APPLE-ITUNES RADIO
Josh Edelson, AFP/Getty Images
It was just a decade ago that the iTunes store debuted, raising fears that it would mean big trouble for the music industry. Instead, it sparked a wave of buying music downloads. But now, for the first time, Nielsen says downloads appear headed for an annual decline. The reason isn't yet clear, but some analysts point to the rising popularity of streaming services such as Pandora (P), Spotify, YouTube and Apple's new iTunes Radio.

LinkedIn (LNKD) has used information from its 238 million users to rank to most in-demand employers to work for, and tech giants and consumer-product companies dominate the list. Google (GOOG) and Apple (AAPL) are first and second, followed by Unilever (UN), Procter & Gamble, Microsoft and Facebook (FB). Rounding out the top 10 are Amazon, Pepsi (PEP), Shell (RDS-A, RDS-B) and the business consulting firm McKinsey.

And the Justice Department is expected to announce this week one of the biggest-ever corporate penalties to come out of the financial crisis of 2008. News reports say the government and banking giant JPMorgan Chase (JPM) have agreed on a jaw-dropping $13 billion settlement of civil charges related to the sale of mortgage-backed derivatives. But this accord doesn't stop the government from seeking criminal charges.

-Produced by Drew Trachtenberg.


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21 Comments

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sblaskey

Just another smoke bomb to try to cover the problems in the great USA. Let's hear from the small business owners and workers on the real problems. Where are the real reporters of news. Always takeing the easy way out. There are real people out here, and real problems in this country. Seems like only big business, corporate news is always the news we hear about. They always recover, the little guy, well we all know the rest of the story...........

October 22 2013 at 1:12 AM Report abuse rate up rate down Reply
Mr. Rockafeller

while this guy stays in office ...those that are suppose to be our friends dont trust us...and our enemies dont fear us.....But, appart from that ,there is some good obama did like letting shops selling dope to stay open . Infact, the Bible does says that God gave vegetation for healing the of the nations. I am not talking about crack and other made made chemical products. But what comes from nature that has not been manipulated by man. And mj is one of those poducts

October 22 2013 at 12:06 AM Report abuse rate up rate down Reply
trebob711

Wouldn\'t it be nice if they all went out of business....we are tired of them getting rich at our expense. I wouldn\'t give any of them one red cent of my money.

October 21 2013 at 9:42 PM Report abuse rate up rate down Reply
JOHNNY

This should be next week's news after the report comes out .

October 21 2013 at 7:43 PM Report abuse rate up rate down Reply
bakethis

Is $13 billion really "jaw dropping" to JPMorgan? Might be to us, but it's a drop in the bucket to them. According to another article on HP, the fed and state governments can't touch JPM after this settlement. Seems like they got off easy.

October 21 2013 at 5:37 PM Report abuse +1 rate up rate down Reply
esdrross

The $13 billion settlement goes to the government and the little guy that lost their but gets nothing. No justice.

October 21 2013 at 3:02 PM Report abuse +7 rate up rate down Reply
SHELDON

Why would anyone pay to down load music, very little of what's refered to nowadays as music is actually music.

October 21 2013 at 12:44 PM Report abuse +2 rate up rate down Reply
ironmikemiata

I Don't eat McDonalds or any fast food for that matter,Do YOU really know what goes behind the counter? A.T.T. take your 2 year contract & Shove it

October 21 2013 at 12:37 PM Report abuse rate up rate down Reply
Claudia Anderson

The stock market is another deregulated faction in this Country. They raped working folks of their pensions big time while the Wall Street obscene bonuses flowed wild and free. The investment Company CEO bailed out with huge sums of money, the employees let their jobs, investors lost their 401K investments and the CEO's rode off into the sunset! Not one of them ever spent a day in jail nor had to pay back a cent. Bernie Maddoff is the only one they went after. Guess why? Because he used his particular ponzu scheme on the wealthy, millionaire high profile folks. There were some little guys too but most of the "victims" were of the wealthier investors.

October 21 2013 at 12:03 PM Report abuse +4 rate up rate down Reply
DAN

Who wants to pay for downloads when you can pull it up and play it in seconds with youtube

October 21 2013 at 11:16 AM Report abuse +1 rate up rate down Reply