Janet Yellen Week: Ed’s Daily Notes for February 10th   Leave a comment


For the markets this week, it’s “all Yellen, all the time”. Rookie Federal Reserve Chairman Janet Yellen’s monetary policy statement will be released Tuesday morning at 8:30 am EST, followed by her testimony before the House Financial Services Committee at 10 am EST that morning. If that isn’t enough Janet for you, she will be testifying before the Senate Banking Committee on Thursday at 10:30 am EST.

On the corporate earnings front, here is the schedule:

TUESDAY: CVS Caremark (CVS).
WEDNESDAY: Cisco Systems (CSCO), MetLife (MET), CBS Corp. (CBS), Deere & Co. (DE).
THURSDAY: Pepsico (PEP), American International Group (AIG), Kraft Foods (KRFT).

On to the news…

Fox News: Is Apple planning its own Internet?

Apple is stitching together a network of Internet infrastructure capable of delivering large amounts of content to customers, giving the company more control over the distribution of its online offerings while laying the groundwork for more traffic if it decides to move deeper into television.

…Bill Norton, chief strategy officer for International Internet Exchange, which helps companies line up Internet traffic agreements, estimates that Apple has in a short time bought enough bandwidth from Web carriers to move hundreds of gigabits of data each second.

“That’s the starting point for a very, very big network,” Norton said.

Contrary to the movie Field of Dreams, if you build it, they will NOT always come. Either Apple is spending a lot of money for nothing, or it will be a truly impressive network, or both. I lean towards that last option, mainly because Apple can build some impressive products, then charge far more than they are worth.


Posted February 10, 2014 by edmcgon in Federal Reserve, News, Stocks, Technology

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