Wall Street is trading mostly up today as the market wraps up the week and heads into Memorial Day weekend. Energy stocks look to close out an up-and-down week on gains as a weaker dollar pushes up oil prices. Other commodities prices are also trading higher. Gold prices have been making solid gains for the past few weeks and are now trading around $1,524 per ounce. The overall price direction of the precious metal, however, is still a hotly contested debate as more and more traders and investors are becoming more bullish or bearish. Google (GOOG) drew attention yesterday after the company announced its latest product, the Google Wallet. Essentially a credit card on your smartphone, the tech giant seems to be catching more flack than praise and is even getting sued by eBay (EBAY) and Paypal for possibly stealing trade secrets.
Major U.S. Stock Indices
DJIA: 12,465.73 (+0.51 percent)
S&P 500: 1,332.78 (+0.53 percent)
NASDAQ: 2,798.84 (+0.57 percent)
Russell 2000: 837.05 (+0.74 percent)
In other news:
- The G-8 Summit ended in France today with leaders pledging to cut debt, as opposed to increasing debt. [Marketwatch]
- Economist Nouriel Roubini, also known as Dr. Doom, is--surprise, surprise--predicting more doom for the stock market and investors. [Bloomberg]
- Successful IPOs like LinkedIn (LNKD), Dangdang (DANG) and Yandex (YNDX) may have been underpriced, but it may also have been intentional. [Dealbook]
- After their outrage over hedge funds in 2008, pension funds are coming back for more. [WSJ]
- Since it's a long weekend, any investors looking to try their luck at the casinos? [The Street]
Check back as more news develops.
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