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Apple hits new all-time high; The case against gold

Stocks were trading higher Tuesday, buoyed by renewed hopes of an agreement between Greece and its international creditors. Despite Greece’s vow to unwind some of the austerity measures that were a condition of the country’s bailout, a compromise agreement appeared likely.

Shares of Coca-Cola (KO) were leading the Dow Industrials (^DJI), up more than 3% after the company reported stronger than expected quarterly results on gains in North American sales for the first time in four quarters.

One person undoubtedly happy about Coke’s results is Warren Buffett whose Berkshire Hathaway (BRK-A) holds 9.1% of the company. According to Yahoo Finance’s Jeff Macke, today’s rally should hold off the Coke naysayers who have been calling for Buffett to step in each time Coke disappoints. Macke thinks this should buy Coke and Buffett a little breathing room for the time being.

Also on the move today: Apple (AAPL). The stock hit a new all-time high $121 a share. The company announced a deal with JetBlue (JBLU) to allow passengers to use Apple Pay in flight.

Separately, rumors have been swirling about Apple possibly unveiling an "iCar" or what has been called a “Tesla (TSLA) killer.” We reported on Yahoo Finance Midday Movers last week that an Apple mystery machine has been spotted cruising the streets of San Francisco and New York. It remains to be seen what the company’s working on, but in the meantime, investors are cheering the stock to fresh highs.

Yahoo Finance Contributor Brian Shannon of AlphaTrends makes the case against gold (GLD) despite its gains this year. In the associated video, he explains why he says he’s been a contrary indicator for gold this year.

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And ever dreamed of owning your own home in beautiful, downtown Newark, New Jersey? Now’s your chance. The city has come up with a new campaign to encourage people to move to and live in Newark. The city is promoting a Valentine’s Day offer for couples (not necessarily married) to buy a vacant lot in Newark for $1,000… with some conditions.

Some of the rules included in the offer: Construction must be completed within 18 months, the buyer must reside in the property for five years after issuance of certificate of occupancy and anyone from anywhere is eligible.

Would you move to Newark? Post a comment below and let us know what you think of this or any of today’s stories.

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Coke stock pop nets Warren Buffett $500 million