Stock Market Soars: Should You Care?
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Soaring stock markets and a boom in housing construction are good news for the economy but, with high unemployment and declining home ownership, is the wealth failing to trickle down? We hear conflicting opinions. Also, Iraqi cities are ripped by sectarian violence, stoked by Syria's civil war. On Reporters Notebook, Yahoo is old news in the Internet story, now paying $1.1 billion for upstart Tumblr. Will Tumblr make Yahoo hip? Will they make money?
Banner image: Evan Leeson
Iraqi Cities Ripped by Sectarian Violence, Stoked by Syrian War ()
In the worst sectarian violence in five years, Shia neighborhoods in Iraq were hit by a series of car bombs today. At least 60 people were killed and some 200 were wounded. Los Angeles Times reporter Ned Parker was in Baghdad two weeks ago.
The Paradox of Rising Indicators in a Troubled Economy ()
In 2009, the Dow Jones Industrial Average bottomed out at 6,500. Since then, it's more than doubled, with another record closing last week at 15,354. Standard & Poor's and other market indexes are also setting records and housing construction is showing signs of a restoration. But eight million people are still out of work, and a smaller percentage of people own homes than a decade ago. Is it time to feel good again about the economy or not? Are we in for increased prosperity or bursting bubbles? We get a reality check.
- Mark Gongloff: Huffington Post, @markgongloff
- John DeTore: MIT Sloan School of Management, @MITSloan
- Rana Foroohar: Time magazine, @RanaForoohar
- Felix Salmon: Reuters, @felixsalmon
Yahoo Buys Tumblr for $1.1 billion ()
Yahoo is an Internet pioneer that's faded in popularity, and Marissa Mayer defected from Google with the promise of bringing Yahoo up to date. Yesterday, the Yahoo board agreed to her purchase of Tumblr for $1.1 billion. The big question is whether the new and the old will integrate well enough to make money. Jeff Bercovici writes for Forbes magazine
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