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Stock market news today, August 11, 2014: The DJIA and other U.S. markets soared on Friday after positive economic data indicated fundamental growth in the domestic economy. According to reports, American workers were highly productive in the second quarter, while labor costs were on the rise. The news is a welcome change from the slew of negative data that rocked the first quarter.
The production rise offset continued concerns about escalating geopolitical concerns in Ukraine and news that U.S. forces have been authorized by the president to bomb regions of Iraq held by ISIS militants.
Here's all the stock market news to follow this Monday morning:
- Geopolitical Standstill: As pronounced problems continue across multiple regions of the world, there is renewed hope for peace between Israel and Hamas. The two sides have agreed to another 72-hour ceasefire, as negotiations will continue to stymy an ugly war in Gaza.
- Keystone Pipeline: An environmental think-tank has issued a sobering report on the social and economic impact of the Keystone Pipeline, should it be approved. The Stockholm Environment Institute, based in Seattle, reports that the pipeline would drive down gasoline prices and boost consumption of gasoline, which would drive up carbon emissions. The result, according to the report, is that emissions would be four times worse than previously estimated by other reports.
Battling It Out: In a highly publicized battle over prices, e-commerce giant Amazon.com Inc. (Nasdaq: AMZN) has blocked preorders of several DVDs and films produced by The Walt Disney Co. (NYSE: DIS). Amazon is attempting to squeeze every dollar possible out of its suppliers in an attempt to boost its bottom line. The company is currently in a battle with more than 900 authors over the cost structure of Amazon's online sales. Over the weekend, these authors signed a letter printed in The New York Times to protest Amazon's price practices.