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How Amazon is trying to re-ignite interest in the Kindle Fire and one reason why consumer confidence is in a rut. Here's Thursday’s Bloomberg After The Bell Report.
Stocks rallied with the Dow closing up more than 244 points, almost two percent. The S&P climbed to a four-year high as the European Central Bank announced specific plans on tackling Europe's debt crisis.
At a presentation in Santa Monica, Amazon unveiled its updated line of Kindle eBooks and media devices as it competes with Google and Microsoft in a crowded tablet market. The upgraded Kindle Fire tablet with a seven-inch screen will cost $159 while the seven-inch Kindle Fire HD will cost $199.
Meantime, Boeing says it may rely more on engineers at less expensive sites outside its Seattle hub, unless it wins competitive labor costs in union contract talks. Boeing's engineers design new planes, inspect those being built and sign off on the work before aircraft are delivered, so there's a chance work flow might be interrupted if there's no agreement.
A new Consumer Reports study suggests affluent Americans are having more financial trouble and that's hurting overall consumer confidence. The study showed sentiment in households earning more than $100,000 hasn't been this bad in almost two years.