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Friday, September 21, 2012

Weekly Roundup: MarketWatch's top 10 stories, Sept. 17 - 21

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MarketWatch
Weekly Roundup
SEPTEMBER 21, 2012

MarketWatch's top 10 stories, Sept. 17 - 21

By MarketWatch

Weekly Roundup
powered by ad choices


Apple. Again. This week was once again about the tech giant and our infatuation with every move it makes. For the first time in two years, Apple put on sale a significantly redesigned iPhone and consumers rushed to buy it all over the world.

Yes there were grumbles, loud ones, about the poor performance of what looks like a very disappointing mapping application that is replacing Google Maps (GOOG) on the iPhone. But consumers don't seem to care. How frustrating that must be for Samsung (KR:005930) and other makers of smartphones that not only contain a better mapping app, but also do a host of other things that Apple has so far been unable or unwilling to include in the iPhone.

ReutersFirst in line, Ryan Williams reacts as he enters the Apple Store in London to purchase the new Apple iPhone 5. U.S. stocks ended nearly unchanged on Friday, giving the benchmark indexes their first losing weeks in September. The Dow Jones Industrial Average (DJIA) fell 17.46 points, or 0.1%, on Friday to close at 13,579.47. For the week the blue-chip index dropped 0.1%. The Nasdaq Composite Index (COMP) rose 4 points, or 0.1%, on Friday to close at 3,179.96 but still ended the week with a 0.1% loss. The broader benchmark Standard & Poor's 500 Index (SPX) ended Friday with a loss of 0.1 point at 1,460.15. For the week the index dropped 0.4%.

Stay tuned to MarketWatch over the weekend. We'll be covering all the news you need to organize your life and your portfolio. We can also help prepare you for the coming week, so please take a look at our weekly videos.

 Europe's Week Ahead: H&M, euro-zone growth.

 U.S. Week Ahead: Corporate earnings looming.

— Christopher Noble , assistant managing editor

iPhone 5 retail launch

Apple Inc. (AAPL) launched its iPhone 5 in retail stores around the world amid huge expectations from investors and a growing chorus of grumbles from consumers about changes to the device's software. A successful launch of the iPhone 5 is crucial for Apple .

BlackBerry's DOA

The last two weeks have been hard on Research In Motion (RIMM), the maker of the BlackBerry smartphone. There was a big outage in Europe and Africa, Yahoo (YHOO) told employees it would discontinue support of BlackBerrys, and then it was humiliated when it announced it was licensing technology from Microsoft (MSFT).But next week might be worse as RIM hosts a developer conference and then reports its results later in the week. BlackBerry devices may be dead on arrival .

Invest like the 1%

The rich are different from the rest of us, except when it comes to how they invest. Sure, the wealthy have more zeros in their accounts and access to top financial advice, but the sophisticated capital preservation, hedging and portfolio-diversification strategies once available only to the country-club set are now available to the country at large. How the 99% can invest like the 1% .

Too big to run

Bank of America (BAC) CEO Brian Moynihan has the unenviable task of scaling down the sprawl that his predecessor Ken Lewis built. As Moynihan works to clean up Lewis's mess, he produces mistake after mistake. But at least he's trying. Bank of America CEO just can't win .

Hawk to dove

A senior Federal Reserve official thought to favor close attention to keeping inflation in check surprised observers when he suggested the Fed can keep interest rates low until the unemployment rate falls below 5.5% as long as prices stay stable. The shift on the Fed's policy-making committee has been "dramatic."

Looking for a Chinese hero

Economic stimulus plans announced by China this month have swooped in to provide a sizable lift to copper and iron-ore prices, but they won't be the hero the demand-hungry commodities market is looking for. Copper and iron won't be the hero the markets are looking for .

The 47%

Mitt Romney is running for president of an America where hard work only counts if it leads to success. And where success is only ever measured in dollars and is never enough. An America where we pretend that the accidents of wealth, health, race, class and gender don't confer great advantages to the lucky ones. Romney is totally ignoring half the country .

Not new

Gov. Mitt Romney's comments about the percentage of Americans who have grown economically dependent on the government for their sustenance, and as a result, see little benefit in changing course, is neither new nor outrageous. The U.S. public treasury can't sustain any more largess .

Spanish bailout fears

For an explanation of why Spanish Prime Minister Mariano Rajoy is reluctant to ask for a bailout from its EU partners, take a look at a famous photo from 1998, when Indonesian President Suharto had to take $43 billion from the International Monetary Fund to bail out his country, knocked low by the Asian financial crisis. Why Spain doesn't want a euro zone bailout .

Coffee run

If you're looking to save money, make your own coffee every day. That's standard personal finance advice these days. But Starbucks's (SBUX) new Verismo coffee maker may undermine that idea with its expensive pod system. Trading away savings for convenience with your morning brew .

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