Reuters Insider - Wall Street flat; U.S. dumps GM stake

Sheng Yu Steel

09/12/2013 23:22

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 http://insider.thomsonreuters.com/link.html?cn=share&cid=1168290&shareToken=MzoxMTQwY2M5Mi1mYWZiLTQyYTAtYmE3ZS1jMmQzMmNiNjE2NjI%3D&playerName=ReutersNews 
                                                                       
 Source:             Thomson Reuters                                   
                                                                       
 Description:        Stocks steady on signs of global growth; Treasury 
                     exits GM stake with a $10.5 billion loss; U.S. net 
                     worth hits a record; American Airlines re-emerges 
                     as the world biggest airline.                     
 
 
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Transcript (May be auto-generated)

 The global economy is growing and that is no longer leaving Wall Street shaking 
in its boots. Stocks tacked on small gains following the growth spurt seen on 
the end of last week. Exports out of China topped forecasts suggesting the 
world's second-largest economy is less shaky than it was and that comes on the 
back of better-than-expected hiring in the US last month. Federal Reserve 
officials on the speaking circuit did little to sway sentiment that the Fed will
start slowing bond purchases sometime in the first quarter of next year. General
Motors no longer has the US taxpayer as a shareholder. The government sold all 
of its stake in the automaker losing about $11 billion on the investment made as
part of the controversial bailout. 

The news came after the close so it did not impact the stock. Feeling wealthier?
Maybe you should. Household net worth hit a record high in America during the 
third quarter. Rising home prices and the stock market near historic highs sent 
household wealth to $1.9 trillion according to the Federal Reserve, but 
economists warned that wealth is not widespread. It was a long haul, but the 
merger between US Airways and American Airlines is completed. Executives of 
American Airlines Group marked the creation of the world's largest airline by 
remotely ringing the Nasdaq opening ball. The occasion also marks the end of 
American Airlines' trip to bankruptcy. Shares of rivals Delta and United 
Continental also created through recent mergers moved higher. And speaking of 
higher, food company Sysco surging almost 10% after announcing it will buy US 
Foods for about $3.5 billion. Some of the biggest names in tech speaking out 
against US surveillance tactics. Google, Facebook, Twitter, LinkedIn, Microsoft,
Yahoo!, AOL and Apple normally fighting amongst themselves in some fashion, all 
joining forces to tell the US government, back off when it comes to online 
spying. Finally, European investors taking notice of the improving global 
economy with markets there posting slim gains