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Monday market mix

Monday, April 16, 2012 - 02:12

April 16 - Summary of business headlines: Wall Street ends mixed; Shoppers buy-in to improving economy; Spanish bond yields rise above 6 percent; Citigroup earnings beat forecasts; Schwab results in line; Mattel misses on higher Barbie prices; New World Bank president named. Bobbi Rebell reports.

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PLEASE NOTE: THIS EDIT CONTAINS 4:3 MATERIAL A mixed bag for the markets on the first trading day of the week. Retail sales shot up as consumers shrugged off higher gasoline prices. Profit-taking in Apple stock pushed the Nasdaq lower. Shares of the iPad maker have soared 45 percent already this year. Also holding back gains: Spain's rising bond yields. 10 year government bond yields climbed above the six-percent mark for the first time since the beginning of December. Spain is under pressure to meet strict euro zone deficit guidelines. Fordham University Assistant Professor Laura Gonzalez: SOUNDBITE: LAURA GONZALEZ, ASSISTANT PROFESSOR, BUSINESS AND FINANCE ECONOMICS, FORDHAM UNIVERSITY SCHOOL OF BUSINESS (ENGLISH) SAYING: "I believe that the German expectations are not realistic. If Spain can't meet the deficits, Spain must cut its current deficit but it's not clear that it can be done in the timeline that Germany has requested. If Spain gets into further budget cuts without any growth starting it will not do any good to Spain or to the European Union." In earnings news, Citigroup reported better than expected profits. The company is writing off fewer bad loans, and is beginning to lower expenses as it gets past a big branch makeover. Charles Schwab reported a 20-percent drop in quarterly profits- in line with forecasts. But the brokerage firm said its outlook is improving. And higher priced Barbies were a hard sell for Mattel. Shares of the world's top toy maker took a hit on disappointing earnings- the company tried to pass on higher materials and labor costs on the dolls- but consumers refused to play along. The World Bank chose Korean born American health expert Jim Yong Kim at its new president. The move continues Washington's control of the position, despite a push by developing nations to select a candidate from one of their countries. Taking a look at the closing numbers- The Dow managed to hang on to close in positive territory but the Nasdaq and S&P were in the red. In Europe, the major indexes were all higher. Bobbi Rebell, Reuters.

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Monday market mix

Monday, April 16, 2012 - 02:12