WINNER: Stocks Advance as Fed Wanted More Stimulus
U.S. stocks rose after the minutes from the last Federal Resrve meeting said some policy makers wanted to take more action to stimulate the economy during their meeting this month.
You still have the Fed in your corner. That gives you confidence in a market like this.
The markets recovered from a drop driven by consumer confidence sinking to a 28-month low.
The S&P 500 has surged 7.7 percent in six days.
WINNER: Home Prices Show Signs of Stabilizing
1 YEAR PRICE CHANGE
Los Angeles -3.4%
New York -3.6%
San Francisco -5.4%
Washington - 1.2%
U.S. Average -5.9%
Residential real estate prices in the U.S. decreased in the year ended in June at a slower pace than in the prior month, a sign the market may be stabilizing.
The S&P/Case-Shiller index of property values in 20 cities fell 4.5 percent from June 2010, after a 4.6 percent drop in the 12 months ended May that was the biggest since 2009.
Values fell by 0.1 percent in June from the prior month after adjusted for seasonal changes, matching the decrease in May, indicating the deterioration is slowing.
Nonetheless, any recovery in home values is probably years away as foreclosures dump more properties onto to the market, while a jobless rate hovering around 9 percent and strict lending rules hurt sales.
"Prices aren’t going to rebound back rapidly. Most people think that when the downturn ends the recovery will be pretty good, but that’s not going to be the case at all.” ,” said Paul Dales, a senior U.S. economist at Capital Economics.
LOSER: New Economic Word - ‘Subpression’
Wilbur Ross chairman of a private-equity firm said he expects the U.S. to avoid another recession while entering a “subpression” marked by little economic growth and few new jobs.
“It’s a new kind of an event for us to be in. It’s not technically a recession, because you’re not having declining gross domestic product, but it sure feels like one to the people who are losing their jobs.”
The 73-year-old billionaire said he is more worried about European economies than the U.S. as those countries grapple with bank and sovereign-debt woes.
WINNER: Starbucks Coffee to Be Offered in K-Cup
Starbucks said its coffee will be sold Green Mountain Roaster's Keurig K-Cup single-serve portion packs in grocery stores and specialty retailers in the U.S. starting in November.
This strengthens Starbucks s presence in the nearly $2 billion single-cup coffee market, which Starbucks entered last year with the launch of VIA Ready Brew.
It also ended speculation that Starbucks will debut its own single-cup brewer.
Green Mountain sold 2.9 billion Keurig cup portion packs in 2010, up 75% year-over-year.
Last month, Green Mountain reported fiscal third-quarter earnings more than tripled as revenue continued to soar, driven by strong sales growth for K-Cup portion packs.