5 Things You Need to Know Before the Stock Market Opens
BOSTON (TheStreet) -- A coordinated effort by global central banks to strengthen dollar swap lines leads your quick fix of company, market, economic and investing news for Wednesday, Nov. 30.
Wednesday's 5 Biggest Stories
Don't get flustered by the terminology of "dollar swap lines" above. Here's a more simple explanation: Central banks around the globe have
acted in desperation to boost liquidity
in the system, which has sparkd a rally in equities.
Oh, and by the way, the
U.S. economy added a lot of jobs
in November, according to ADP.
China cut its reserve requirements for banks
, the first time in nearly three years. China's growth is slowing and the Shanghai index is down 3% overnight, but don't tell that to stock futures.
If you haven't heard by now,
Standard & Poor's
downgraded its ratings on a bunch of banks, like
Bank of America
(BAC) - Get Report
and
Citigroup
(C) - Get Report
, just like it said it would.
Plan 853 to Save Europe
: National central banks print money, they loan the money to the IMF, ???, problem solved.
Quote of the Day
"It's easy to talk the talk, but you gotta walk the walk,"
Occupy Los Angeles
protestor Opamago Cascini said of his willingness to be arrested as police raided the group's encampment early Wednesday.
Company News
The first bids for a minority stake in
Yahoo!
(YHOO)
are in. And they sure look low.
No shocker here:
Apple's
(AAPL) - Get Report
iPad is costing chipmakers billions.
Keep an eye on
Pfizer
(PFE) - Get Report
today as Lipitor's patent protection ends.
Goldman Sachs
(GS) - Get Report
has raised $600 million to fund up to 10 new hedge funds. No word yet on whether Hank Paulson will share material nonpublic information with them.
Markets
An explanation of why
yields on U.K. gilts
are tumbling.
Businesses are already prepping for the
end of the euro
.
Investment Strategy
Why
financial stocks
don't matter much to the market anymore.
Social media stocks are
so hot
right now. But what about
OpenTable
(OPEN)
.
Famed investor
Jim Rogers
likes gold, the dollar and Myanmar.
Odds and Ends
The European Union takes a break from solving the debt crisis to propose a law that would
break up the Big Four auditing firms
.
Those three Connecticut money managers who won the
$254 million Powerball jackpot
may have been a front for a client who wanted to remain anonymous.
Your Wednesday morning music video comes from '80s mopesters
The Psychedelic Furs
.
-- Written by Robert Holmes in Boston
.
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.
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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
