Market Minute: Money Floods into Wall Street; Obama Nixes Apple Ban

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Money keeps pouring into the stock market, and the White House comes to the aid of Apple. Those and more are what's in business news Monday.

The Dow industrials (^DJI) and the S&P 500 (^GPSC) both start the week at record highs after posting solid gains last week. The Nasdaq (^IXIC) jumped more than 2 percent for the week. It's at the highest level in 12 years, but still 27 percent below its all-time high.

Samsung Electronics' Galaxy S, left, and Apple's iPhone 4 are displayed at the headquarters of South Korean mobile carrier KT in Seoul, South Korea, Friday, April 22, 2011. South Korea's Samsung Electronics Co. says it sued Apple Inc. for patent rights violations, only days after Apple sued Samsung for the same reason.(AP Photo/Ahn Young-joon)
Ahn Young-joon/APSamsung's Galaxy S, left, and Apple's iPhone 4.
The Obama Administration has handed a victory to Apple (AAPL) in its long-running patent dispute with Samsung. The U.S. International Trade Commission had ruled in June to ban the import and sale of some older iPhones and iPads. But the U.S. Trade Rep overturned that ruling, citing the potential harm to consumers. Other cases between the two rivals are still pending.

The ruling could have broad implications for the tech world. Microsoft (MSFT), Intel (INTC), AT&T (T) and others could benefit if this decision sets a precedent in other patent disputes.

The discount carrier JetBlue Airways (JBLU) is going upscale. The Wall Street Journal reports (subscription required) the airline plans to add premium seats on some flights. Some of those seats will convert into lie-flat beds.

There's a good reason Warren Buffett is known as the Oracle of Omaha. His company, Berkshire Hathaway (BRK.B), posted a 46 percent jump in quarterly earnings after the market closed Friday. Each Berkshire's Class A (BRK.A) share trades at more than $176,000.

General Motors (GM) sold 11 percent more cars in China last month than it did a year earlier. GM is the sales leader in China, running slightly ahead of Volkswagen and Toyota Motor (TM).

Time Warner Cable (TWC) and CBS (CBS) could both be under pressure after failing to reach a deal on fees. Time Warner on Friday dropped CBS from its cable line-up, affecting more than 3 million viewers in New York, Los Angeles and Dallas.

And New York Times Co. (NYT) has agreed to sell the Boston Globe to the primary owner of the Boston Red Sox.


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michael_vici

中国隐秘组织控制纳米分子去虐待人,现在我的头被完全的控制住了,用纳米分子散发出气体或者一定形式的液体来进行头部的控制,并能产生出图像和声音,控制住脑子里的主要部位,去带动脑子去想,我现在是被虐待的不行了,我想死,可隐秘组织就不让我去细想,想活活不好,想死死不了。还是不断的虐待我。还有没有天理王法,对一个人进行不断的精神虐待。我的邮箱号码:jamspolo_2006@163.com

August 05 2013 at 4:40 PM Report abuse rate up rate down Reply
lzygent

The market is high because we are printing more money, but the trade volume is low, thats a telling sign for an economy thats struggling, its basically trying to recover on its own, Obama has nothing to do with it.

August 05 2013 at 12:11 PM Report abuse +2 rate up rate down Reply
Kevin

Happy days are here again, the skies above are blue again.....thank you president Obama!!!

August 05 2013 at 11:01 AM Report abuse -5 rate up rate down Reply
Eric

And once again the cycle begins. Any lessons learned from 2008's bubble, the bailouts and the corruption will be, or already is, forgotten.

Then we need to consider if this boom is a facade. Is it just a result of temporary cash infused by the government? What happens when the bond money dries up?

August 05 2013 at 10:43 AM Report abuse +3 rate up rate down Reply
guinner16

The rich get richer, and the poor, well they get food stamps.

August 05 2013 at 10:43 AM Report abuse +2 rate up rate down Reply
rkeeeballs

Quick, someone call Glenn Beck and ask him how he's doing after buying all the gold for his portfolio against America.....snicker !....What a chump !

August 05 2013 at 10:18 AM Report abuse -6 rate up rate down Reply
cboowillie

George Soros is propping up the market ... In cahoots with the gov

August 05 2013 at 10:11 AM Report abuse +1 rate up rate down Reply
pdbliz

White House has no money,,,IT IS THE PEOPLES MONEY.!!!!

WE WANT OUR FAIR SHARE.!!!!! ALL LIES FROM WASHINGTON ...BOTH PARTIES.......

August 05 2013 at 10:02 AM Report abuse +5 rate up rate down Reply
1 reply to pdbliz's comment
rkeeeballs

you a crack baby ?

August 05 2013 at 10:19 AM Report abuse -3 rate up rate down Reply
2 replies to rkeeeballs's comment
Eric

Your kidding right? it IS our money, NOT the "government's"....particularly when We The People ARE the government, but that is an aspect that has long been ignored by those who have usurpted the power we entrusted them with on our behalf.

We are governed by our consent (go ahead, look it up...that is how a republic works) and we have the right, the duty to withdraw our consent....and soon we might be if Wall Street and this government don't stop pretending we don't matter.

August 05 2013 at 10:49 AM Report abuse +2 rate up rate down
pdbliz

ARE YOU A BUTT HOLE BABBY.?????

August 05 2013 at 2:31 PM Report abuse +1 rate up rate down
pdbliz

it will bring ,more lies.!!!!!!!!!!!!!!!!!

August 05 2013 at 10:01 AM Report abuse +1 rate up rate down Reply
thefacts22

Will see what the Wall Street casino brings today

August 05 2013 at 9:45 AM Report abuse +2 rate up rate down Reply