Posted: Sep 19, 2012 8:44 AM by KPAX News Staff
Updated: Sep 19, 2012 8:34 AM
Shares of Apple closed above $700 a share for the first time, giving the company a market value of $650 billion. Its stock is up more than 70% since January as investors have been pushing Apple's stock to new highs recently as the company reports record demand for the iPhone5, which hits stores Friday.
Wall Street gets the latest read on the housing market today with reports on home construction and existing home sales. A trade group said Tuesday that confidence among homebuilders this month hit a six year high. Tuesday trading saw the Dow Jones Industrial Average rose 11 points, but the NASDAQ slipped a point.
A new survey shows people are feeling less confident about their own finances. Bankrate.com says Americans' comfort level with their debt turned negative in September for the first time in nearly six months.
Retailer Kohl's says it expects to hire nearly 53,000 people this holiday season, up more than 10% from last year. A retailer's hiring plans can indicate its expectations for the make-or-break holiday shopping season.
Grammy award winning singer Adele is reportedly in talks with Burberry to collaborate on a line of plus-size clothing. Adele has long been a self-professed fan of the luxury brand.
One of the largest creditors in the Vann's bankruptcy case is asking a federal judge to convert the case to Chapter 7 bankruptcy, arguing the court should move toward liquidating the company. Missoula-based Vann's filed for a Chapter 11 bankruptcy re-organization earlier this summer, taking the longer approach to addressing its debt as the retailer tries to re-group in the face of a softer economy and electronics market.