Apple hit a record high market value above $700 billion. Two years ago it stole the crown as the world’s most valuable company. The recent acceleration means that Apple has increased by the equivalent of the next 15 names on that list ranked by market cap. Investors must be asking whether history will repeat itself.
Princess Diana famously remarked that there were three people in her marriage to Prince Charles once you included Camilla Parker Bowles, whom he later married. Companies seeking cross-border mergers in Europe need to be wary of ending up in similarly overcrowded relationships as governments start to demand dowries and a share of the marital bed.
WTI got a big boost as Trans-Canada announced the southern leg of the Keystone Pipeline is operational driving up West Texas Intermediate versus Brent Crude as the market anticipates that will mean more products for export and a reduction in the global spread.
U.S. stocks fluctuated, after the Standard & Poor’s 500 Index fell from a record, as investors assessed corporate earnings and stimulus prospects. The dollar rose to a four-month high and European shares closed at a six- year best.