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FOX Business: The Power to Prosper

While Wall Street ended the day in positive territory, the markets closed out a choppy trading week with the steepest losses in more than a month as traders grappled with a slew of corporate, economic and political news. 

Today’s Markets

The Dow Jones Industrial Average gained 44.8 points, or 0.36%, to 12,481, the S&P 500 climbed 7.5 points, or 0.58%, to 1,316 and the Nasdaq Composite rose 27.3 points, or 0.99%, to 2,790. The FOX 50 tacked on 4.7 points ending at 929.8.  

For the week, the blue chips shed 1.4%, the broad S&P 500 slid 2% and the Nasdaq dipped 2.4%. 

Key among the deluge of economic reports released on Friday was a much weaker-than-expected read on the consumer sector.  C

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Feeling stressed? You may be by the end of today. It’s publication day for the stress tests on 90 European banks and the timing could hardly be worse. Italy, where bank shares have been bashed all week, was forced to pay a record 5.9% yield to raise 15-year money on Thursday. Over the Atlantic, as politicians bicker over the debt-reduction programme, Moody’s has said the US’s top-notch credit rating is under review.

Last year’s tests were derided as too easy. And they were too easy: Ireland’s supposedly strong banks soon crumbled. So this year’s version is designed to be tougher to inspire respect and confidence.

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A profit warning from its closest peer meant Misys continued its recent slump yesterday, raising fears once again over the status of the recent bid approach for the software company.

The mid-tier index group was knocked by an overnight update from Temenos, with the Swiss company blaming uncertainty in the banking sector – which both provide software to – for its decision to reduce its license revenue expectations for the year. As a result, Misys slumped to a session low of 353p during early trading, before a rally meant it closed 3.7p weaker at 383.7p.

The update also prompted further questions over Misys’ takeover talks with Fidelity National Information Services (FIS), which made an approach last month. Wit

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— Citing analyst predictions that gold prices will continue to rise, Gold & Silver Buyers opened another location inside the H-E-B at 11100 Leopard St., in Corpus Christi.

Gold & Silver Buyers purchase gold and silver from customers in the form of jewelry or heirloom pieces and refine the items in their store.

The company first expanded into the area about six months ago, company president Larry Gray said in a news release.

Gold & Silver Buyers has 55 locations in Texas, including a store on Waldron Road in Corpus Christi and another location on East Goodnight Avenue in Aransas Pass.

— Amanda Tullis has been named manager of the Buckle Store at La Palmera.

Tullis began her career with Buckle in 2010 and was a management trainee at the store before being named manager.

She is a graduate of Missouri State University with a degree in fashion merchandising.