Weekly Roundup: Top 10: Tesla surges while Penney plunges

	Weekly Roundup AUGUST 09, 2013 Top 10: Tesla surges while Penney plunges Top stories for week of Aug. 5 - Aug. 9 Sometimes it's good to be rich, as at least three Powerball winners found out this week. You can buy, say, a $425 pencil . Or a Tesla S — outfitted with a coal-powered electric utility. Or, if buying a copy of the Washington Post for $1.25 doesn't provide enough entertainment, you can plunk down two-hundred million times as much for the whole enchilada. And continue to live in Washington state. That's what money gives you: options. (No, not this kind .) Stocks have had a great run, but the market was no lottery ticket this week: the S&P 500 (SPX) declined 1.1%, the Dow industrials (DJIA) fell 1.5% and the Nasdaq Composite (COMP) lost 0.8%. Stay tuned to MarketWatch this weekend for all the news and analysis you need to organize your finances and retirement. — Steve Goldstein The world of Elon Musk ReutersElon MuskElon Musk says his proposed hyperloop between Los Angeles and San Francisco won't involve (as this author thought) a vacuum tube. Tesla Motors (TSLA), of which Musk is chief executive and leading shareholder, jumped after the electric-car maker narrowed its quarterly loss as deliveries of the Model S beat expectations. The Musk luck didn't extend to one of his other holdings, SolarCity (SCTY), whose second-quarter results didn't, uh, shine as much. Ackman takes on J.C. Penney No one is smiling at the department store — not its executives, not its investors, and, clearly, not its shoppers. J.C. Penney stock tumbled as the firm's largest shareholder, Bill Ackman, pressed the board to find a new chief executive just months after getting rid of the last one. Al Lewis: It's dawn of the dead for J.C. Penney Read the latest on the J.C. Penney saga. Taper talk at the Fed You'd think the market by now wouldn't be so sensitive to some regional Fed bank president giving his or her assessment on the economy. Ha. The market is as sensitive as ever — see our slide show on the tapering views that have emerged. And read why one economist think the central bank has painted itself into a corner. Meanwhile, President Barack Obama said he'll decide on the next Federal Reserve chairman in the fall (and made a bit of a faux pas in doing so.) Jeff Bezos buying the Washington Post The Amazon chief executive (and not Warren Buffett ) is plunking down $250 million of his own money to buy the famed newspaper, minus the building and some other assets. The Washington Post deal came just after Newsweek and the Boston Globe exchanged hands for not a whole lot of cash. Read: News media, meet Jeff Bezos Read: Can Jeff Bezos reinvest the newspaper? 100,000 Wall Street jobs to go? She was famously right about the financial crisis. She was famously wrong about municipal finance. Now, Meredith Whitney says as many as 100,000 jobs will be lost on Wall Street in the next one-and-a-half years. Fannie, Freddie targeted After requiring a bailout of nearly $190 billion, mortgage giants Fannie Mae and Freddie Mac are making so much money that they are now nearly three-quarters of the way to repaying the American taxpayer. So of course, Washington now wants to get rid of them — that's the view both in the White House and in Congress, though of course differences remain on how to do so without derailing the housing recovery. Columnist Darrell Delamaide says ideology drives the debate on Fannie, Freddie reform. See charts showing the latest on housing, including a slight dip in price appreciation. A buck costs a nickel to make That and other fascinating factoids about our national currency. 6 bank accounts that earn over 10% interest This is a list of bank accounts that earn over 10% interest . Just as spoiler: none of them is in the U.S. Expensive weddings — for guests Some 43% of Americans have declined to attend a wedding for financial reasons, according to a poll. Read why weddings are getting so darned expensive . Women leave nest, men stay with parents The number of millenials (the 18-to-31-year-olds) who are living at home climbed to 36%, the highest rate in the last four decades. But the boys are more l ikely to live at home than the girls. See story on living at home. 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 2013 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). MarketWatch - Attn: Customer Service, 201 California St., San Francisco, CA 94111