Wednesday's Bloomberg Market Report
Some major job cuts at Citigroup and Facebook is making it harder for us to view pics on Twitter. Here's the Wednesday Bloomberg After The Bell Report from the New York Stock Exchange.
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American Stock Exchange
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NASDAQ Composite
2973.70 down 22.99
Standard And Poors 500
1409.28 up 2.23
Citigroup is handing out more than 11,000 pink slips. About 6,200 of the job cuts will come from its Consumer Banking Unit, which handles those everyday functions like branches and checking accounts. Shares of Citigroup rose after the news, one of the biggest gainers in the S&P on Wednesday.
As for the broader markets, stocks rose after President Obama said an agreement on the budget could be reached in a week.
Have you had trouble posting or viewing your Instagram photos on Twitter lately? Facebook, which owns the photo sharing service, is trying to have more users put their pics directly on Instagram instead. So, it's disabled a feature called Twitter Cards for showcasing photos and other media and Twitter says photos from Instagram now appear cropped.
How would you like a cell phone next time you go to rent a movie? Sources say Dish Network's Blockbuster will start selling phones in its movie rental stores as an experiment for Dish's planned entry into the wireless business.
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