Wednesday's Bloomberg Market Report
Be on the lookout for online discounts from Best Buy, but first, some relief at the pump. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
8297.49 up 2.38
American Stock Exchange
2464.00 down 3.27
Nasdaq Composite
3135.23 up 15.19
Standard and Poors 500
1450.99 up 5.24
Good news for drivers. Bloomberg crunched the numbers and it looks like gas prices at the pump will fall about six percent by the end of the year to about $3.54 a gallon. Among the reasons are refineries resuming production and increased gas exports from Europe to the east coast.
There’s something else to look forward to. An executive at Best Buy tells Bloomberg the chain may cut online prices on TVs, tablet computers and smartphones heading into the holiday shopping season.
Stocks finished up slightly, the third day of gains for the S&P 500, though shares of computer maker Hewlett Packard plunged nearly 13 percent after CEO Meg Whitman said a turnaround for the company is a long way off.
Finally, K-Mart and Sears announced that all products purchased online through their layaway programs will be available for home delivery starting November 7th. Shipping costs start at about $6 and home delivery starts at $70.
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