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


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

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

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

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

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

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

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

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


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

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

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


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

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

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

Will see what the Wall Street casino brings today

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