Futures were pointing to a slightly higher open after stocks showed some resilience yesterday after disappointing reports on retail sales and jobless claims. The markets will have more news on the economy to digest this morning with Michigan Consumer Sentiment and Industrial Production out this morning. While stocks managed gains yesterday, gold also has been on a tear, hitting its highest levels since November yesterday topping $1,300 an ounce and up more than a percent in early trading again this morning. Yahoo! Finance Senior Columnist Michael Santoli has some ideas why gold has been on the rise lately. Watch this morning’s Hot Stock Minute video for his insights.
A new McClatchy-Marist poll revealed that most Americans think it is harder to achieve the American Dream and a majority believes government policies are hurting the middle class the most. In our poll today, we would like to hear from you. Do you think the American dream is still attainable? Cast your vote and post your comments as well.
Pandora (P) is getting into politics. According to the Wall Street Journal, the online music company is launching a new ad service that will match election results across the country with subscribers' musical preferences by zip code. They'll then use that information to sell advertising space to candidates and political organizations so they can target their audience directly. The service labels users based on their music choices and whether that music is usually listened to in heavily republican or democratic areas. The service rolls out next week.
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Among the early movers the Yahoo Finance team will be watching for you today: Joseph A. Bank (JOSB). The men's clothing retailer has agreed to acquire the Eddie Bauer clothing brand for $825 million in cash and stock. This is just adding more fuel to the fire in Jos. A Bank's months long takeover battle with Men's Wearhouse. The deal is expected to immediately add to Jos. A Bank's earnings and the company said it now expects 2014 revenue to exceed $2.1 billion.
And Weight Watchers (WTW) shares were battered in extended trading, down more than 20% after company missed earnings estimates and warned full-year profits be more than a dollar per share below what Wall Street was expecting. The company has been struggling to keep paying members as it competes with free smartphone apps and gadgets that track calories.