In The News:
Shhh… It’s a secret…
On Wednesday, Amazon.com (AMZN) announced it will hold a launch event in Seattle on June 18. Hmm…What could Amazon possibly be launching…its own smartphone maybe???
A website which allows customers to request an invitation to the shindig has surfaced, showing a black device with “Amazon” branding on it. The size of the secret device is unclear from the picture. For years, rumors have swirled around Amazon releasing a smart phone. Analysts have been speculating how the e-commerce giant might integrate its current business into a smartphone. One speculation from analysts includes a phone with a 3-D display that would enable 3-D gesture tracking. The 3-D screen would help Amazon stand out in an already crowded smartphone market.
We’re Getting Closer…
Rumor has it Sprint (S) and T-Mobile (TMUS) have agreed on the broad outlines of a merger valuing T-Mobile at around $32 billion. Recent regulatory developments convinced executives at both telecommunications giants that an opening to get a possible deal approved does exist. Terms of the merger include Sprint paying around $40 a share for T-Mobile in an acquisition that could happen early this summer. The companies are still working toward a formal contract, and the effort could still end up fall short. If completed, the merger would combine the country’s third- and fourth-largest wireless operators, creating a bigger wireless giant.
In The Markets:
Asian equities closed Thursday mixed in choppy trading as traders braced for the highly-anticipated European Central Bank meeting.
European stock markets ended a choppy day Wednesday slightly higher. The final reading of the euro-zone services PMI confirmed growth is occurring however, it fell a bit short of expectations.
US markets closed higher on Wednesday with the S&P hitting a record high for the 16th time this year. Investors shrugged off less than stellar economic data from the jobs reports and trade deficit reports instead focusing on the positive report from the beige book. DJIA: +15.19 16737.53 S&P: +3.64 1927.88 NASDAQ: +17.56 4251.64
In Dinner or Drink:
Secret Passion Punch
1/3 cup of pineapple juice
2/3 cranberry juice
2 oz. light rum
1 oz. creme de bananes
1 oz. Chambord® raspberry liqueur
Mix all the above together gently and pour over chipped ice in tall glasses. Garnish with maraschino cherry and wedge of orange. Makes two tall drinks.
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Word Of The Day…
An actual book released by the Federal Reserve eight times a year. The book has 13 section in total; 12 regional reports from each of the member Fed districts bank and one national summary drawn from the individual reports. The book gives a holistic view of just how the US overall economic is doing since it uses actual data from all 12 regions.