Weekly Roundup: MarketWatch's top ten stories Aug. 20 - 24

	Weekly Roundup AUGUST 24, 2012 MarketWatch's top ten stories Aug. 20 - 24 By MarketWatch So here we are, in a world where a maker of electronic gadgets to which most of the planet's population doesn't have access is considered not just the most valuable company in the world, but the most valuable corporate construct ever created. Apple (AAPL)has led the market-cap charts at various times over the last year or two, usually beating out Exxon Mobil (XOM)or some other industrial icon. But what's really remarkable is how Apple came from nowhere and established itself as a stalwart of the list of the top-ten most valuable companies. The maker of the iPhone first appeared on that list in the fourth quarter of 2009, at No. 10. It hasn't dropped off since. Meanwhile, General Electric (GE)once a perennial leader, has faded to the lower ends of the list. It seems hard to believe, but Pfizer (PFE)was once a regular, as were Citigroup (C)and Bank of America (BAC). So marvel, if you will, at the incongruity of seeing Apple valued more highly than the world's biggest energy companies or the financial corporations that make international commerce possible. But be prepared for the day, probably not too distant, when Apple, too, is remembered wistfully as a corporate titan whose power we never doubted. The Dow Jones Industrial Average (DJIA) rose 100.51 points, or 0.8%, to 13,157.97, leaving it down 0.7% for the week. The Standard & Poor's 500 Index (SPX) gained 9.05 points or 0.7% to close at 1,411.13, leaving it off 0.5% from the week-ago close.The Nasdaq Composite Index (COMP) rose 16.39 points, or 0.5%, to 3,069.79, leaving it 0.2% lower on the week. Stay tuned to MarketWatch over the weekend. We'll be offering complete coverage of any news that affects your life and your portfolio, including the weather-threatened start of the Republican National Convention. — Christopher Noble , assistant managing editor. Please take a moment to read our videos about the week ahead. —  MarketWatch week ahead: Bernanke takes the stage —  Europe's week ahead: Carrefour, Jackson Hole Precious Wireless phone and computer maker Apple Inc. on Monday became the most valuable company ever, closing at $665.15 as investors speculated about the launch of the iPhone 5, expected next month. But some analysts say the company's stock has more room to rise. Could Apple be a trillion dollar company one day? Read about analysts' view of Apple's stock . Tough job Talk about pressure. The jury in the Apple-Samsung patent trial has the tough task of determining the very nature of invention as they weigh mountains of evidence from the nearly monthlong trial. And, they have to do this while the world watches and, as one lawyer put it, they will "determine the rules of competition in this country for a long time. Read Therese Poletti's Tech Tales on the trial . Time to buy Facebook? Is it finally time to buy Facebook (FB)? Some investors who have watched the stock halved in the weeks since the social media network went public have suggested that such a big drop positions the shares for a significant bounce back. Not so fast, writes Mark Hulbert, who examined IPO's of companies in the last 10 years that experience sharp stock drops immediately following their market debuts. See Mark Hulbert's analysis of whether it's time to buy Facebook stock .  Parting sorrow Ten years ago, Hewlett-Packard (HPQ) battled with Dell (DELL) for supremacy in the world of the personal computer. But today, it doesn't matter who's on top. PC's are considered a ball and chain that's weighing down both tech giants and getting in the way of their push into more profitable segments of the IT market. Read a story about whether Dell and HP should get rid of their PC businesses .  It's a secret Investing happiness has its root in many things but the most important thing is to figure out what makes you happy and go for it. The fewer barriers you put between yourself and happiness, the more likely you will be a successful investor, says James Altucher. See Jonathan Burton's Life Savings column on secrets of investor happiness . Food or fuel A spike in corn prices following the worst drought in decades may force Americans to choose between feeding themselves and filling their gas tanks. At least that's the argument taking shape as meat companies lock horns with ethanol makers over how best to use this year's shrinking corn crop.Read a story about the food versus fuel debate . Ugly standoff Investors looking forward to government bond purchases by the European Central Bank may end up disappointed because of a standoff between the ECB and the Spanish government. The ECB says the bank won't begin buying bonds meant to bring borrowing costs unless that government first applies to the euro-zone rescue fund for help. The Spanish government continues to drag its feet. Read a story on the standoff between Spain and the ECB . Fantasy fund managers Here's a lineup for your fantasy fund-manager team: from Berkshire Hathaway, Warren Buffett; from Soros Fund Management, George Soros; from Greenlight Capital, David Einhorn; from Baupost Group, Seth Klarman, and from Pershing Square Capital Management, Bill Ackman. As fantasy league players know, the draft is key. In our fantasy-fund-manager league, we've got you covered with five heavy hitters and 10 stocks they own in their investment portfolios. Read Weekend Investor on five heavy hitter money managers and 10 stocks they own . Gang of one A Chinese court this week handed down its sentence in the most closely watched case in decades: the murder trial of Gu Kailai, wife of ousted senior Communist Party official Bo Xilai. There were a lot of parralels to the 1980 trial of Mao Zedong's widow, but in fact the differences between the two cases are more instructive about the state of China today. Read a commentary about the trial of Gu Kailai . Pain at the pump With oil approaching $100 a barrel and the U.S. refinery market recovering from a spate of outages this year, gasoline is on track to reach its highest-ever price for Labor Day — and consumers may have to wait longer than usual to see those prices retreat. Read Commodities Corner on the high price for gasoline . Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. By using this site, you agree to the Terms of Service and Privacy Policy (updated 6/26/07). 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