TMCNet:  Daily Market Wrap: January 30, 2013

[January 30, 2013]

Daily Market Wrap: January 30, 2013

( Via Acquire Media NewsEdge) The markets drifted lower today as investors took in some disappointing economic data which was offset by upbeat corporate earnings.

The Commerce Department is reporting that the U.S. economy contracted unexpectedly at a rate of 0.1 percent in the fourth quarter. Reduced military spending and fewer exports are being blamed for the drop.

Research in Motion (RIMM) has changed its company name to Blackberry as the smartphone maker unveiled its new smartphone, Blackberry 10.

However, the launch did not boost the share price.

Boeing (BA) beat profit and revenue estimates for its fourth quarter and the aircraft manufacturer also dismissed the idea that issues surrounding its 787 Dreamliner would affect its bottom line.

Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Mastercard (MA).

The preceding is a transcript of the video published at: id=201301DWrap013013&mv=1.

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