MarketWatch's top stories June 7 - 11
Sentiment is anything but settled, as the week also produced a day of triple-digit losses for the Dow. It appears that investors have yet to decide whether they are in durably positive mood.
The Dow Jones Industrial Average (.DJI) rose 38.54 points or 0.38% to close at 10,211.07 on Friday for a weekly gain of 2.8%. The Nasdaq Composite Index (.COMP) rose 24.89 points or 1.1% to close at 2,243.60 on the day and notch a 1.1% gain for the week. The benchmark Standard & Poor's 500 Index (.SPX ) gained 4.76 points or 0.4% to close at 1,091.60 on Friday. For the week the index rose 2.5%.
Stay tuned to MarketWatch over the weekend for all the news you need. Our weekend investor feature can help you build a "vacation" with a portfolio of stocks from the tourism and leisure industry. We'll also have coverage of the World Cup, which hits its stride over the weekend after Friday's opening games.
Please take a few minutes to view our Week Ahead videos.
U.S. Week Ahead: Inflation Reports, BP, Earnings
Europe's Week Ahead: Tesco, Sainsbury Updates
Asia's Week Ahead: BOJ Rate Decision
-- Christopher Noble , assistant managing editor
Apple (AAPL) unveiled a new version of its popular smartphone, the iPhone 4. The phone has more than 100 new features compared to the previous version but does not run on any 4G networks. The iPhone remains available exclusively on ATT (T), which disappointed some observers who had hoped Apple would widen its distribution. Analysts expect Apple to draw in many new customers with the new version of the phone. Read a story about analyst reaction to the new iPhone.
The U.S. economy is strong enough to withstand higher taxes and interest rates, Federal Reserve President Ben Bernanke told Congress this week. He said the private sector is starting to provide strength to the economy, slowly replacing the stimulus from government spending. Read a story about Bernanke's comments on the economy.
With record high prices and a reputation for volatility, gold may not be a bargain these days. But a few other commodities look like they might be steals. Investors should consider rhodium, Uranium or even wheat instead. Read Commodities Corner on gold and some alternatives.
Scientists studying how much crude oil BP Plc.'s blown well has poured into the Gulf of Mexico offered an estimate as high as 40,000 barrels a day, nearly twice as high as earlier estimates that the well was spewing 12,000 to 19,000 barrels a day. The higher estimate would make the current disaster far worse than the Exxon Valdez spill of 1989. Read a story about new estimates of oil flow from the ruptured well.
Financial reform has gone too far. Chain store owners, high-flying derivatives traders, powerful public officials and megabanks could see their obscene profits shrink to merely outrageous. They might be confused if financial reform becomes law. Read David Weidner's column on financial reform.
Long-time Wall Street fixture Bob Brusca may be beloved for his lively language and sense of humor but his economic forecasts in May were no joke. Brusca's accuracy in predicting 10 economic indicators last month propelled him to win hi first forecast of the month award from MarketWatch. Read the story on our forecaster of the month.
Mutual funds often say that asset growth will spread costs among more investors and so reduce fund fees, but evidence from the largest bond funds suggests this hasn't been the case even as new money pours into the funds. Read a Fundwatch about bond fund fees.
Video game consoles these days are starting to show their age and now the industry's biggest players are responding with new control systems that could extend the lifespan of current platforms for several more years. That dynamic is shaping up to be a major theme at this year's E3 Electronic Entertainment Expo. Read a story about electronic game console makers.
After years of hearing how home prices are falling and foreclosures are on the rise, consumers want to fee hopeful about the housing market, but they might be too optimistic. There are four myths that are beguiling consumers as they try to make sense of the housing market. Read a story about the housing market.
Just months after passing comprehensive health reform, U.S. lawmakers appear willing to risk a short-term backslide in the push to reduce the number of uninsured Americans until the overhaul's major provisions take effect in 2014. Read a story about the possible end to Cobra payment subsidies.