Market Wrap: 'Super' Mario Draghi Powers-Up; Amazon's Amazin' Tablets; AIG Buys Back; Verizon/Nokia Team-Up


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Market wrap-up for September 6th

End of the Day: Dow Jones up 244.5 to 13,292.00; S&P 500 up 28.7 to 1,432.12; Nasdaq up 66.5 to 3,135.81

The following is a brief summary of events moving markets today:
  • Warping to level 'awesome': Mario "Super Mario" Draghi, part-time planet-hopping, mustachioed plumber/full-time ECB president, announced an unlimited bond-buying plan that will target distressed debt in the euro zone. He also called on other euro-area leaders to take a stand and be prepared "to activate the EFSF/ESM in the bond market when exceptional financial market circumstances and risks to financial stability exist."

    For more color, click here.

  • Can you see us now?: Amazon.com (Nasdaq: AMZN) is looking to unseat all sort of competitors with its latest Kndle offerings. First, it debuted a stronger, sleeker Kindle Fire for $199. You can but a larger-screened Kindle Fire for $299, or go all the way and get a 4G equipped version for $499. Amazon also has a Kindle Paperwhite, which, besides having one of the coolest e-reader names out there, is also "the most advanced e-reader out there," according to Amazon.

    No one is sure what happens if you hold a Fire next to a Paperwhite. We hope there's no combustion involved, unless it's an amazing word explosion.

    (Click here for the press releases.)

  • The U.S. - now serving more: According to Institute for Supply Management, its Services Index for the month of August rose from 52.6 up to 53.7, topping expectations that called for a relatively flat 52.5 reading.

    The ISM's employment gauge ose from 49.3 to 53.8 in August, the highest reading since April, data show.

    For more color, click the link.

  • Third times the charm: JPMorgan (NYSE: JPM) named the third person to lead its beleagured CIO unit this year, charging Craig Delany with the task. The prior head, Ina Drew, resigned in May following disclosure of losses in the unit. Matt Zames took over for Drew before Delany was appointed the spot today.

    Curiously, Drew and Zames are now no-Chief Operating Offeicers for the bank.

    Also, a Senate Subcommittee is looking for a further probe into losses suffered at the CIO unit. For more JPMorgan news, click here.

  • Just how far will they carry it, exactly?: According to the WSJ, Verizon (NYSE: VZ) affirmed plans to carry Nokia's (NYSE: NOK) next Lumia smartphone series, the 820/920. Though the news is largely expected, no time frame was given by a Verizon spokesperson.

    Nokia's Lumia is already carried on AT&T (NYSE: T) and T-Mobile networks in the U.S.

  • Walgreens (NYSE: WAG) reported an 8.2 percent drop in same-store sales for August, as total revs slipped 4.5 percent to $5.85 billion in the period. Traffic also fell 2.2 percent, offset slightly by a 1.6 percent increase in basket size. Shared ended up 1.9 percent lower on session Thursday.

  • Markets at 4-year highs, AIG back in the saddle. We're getting nostalgic: American International Group (NYSE: AIG) approved a sale in Hong Kong of up to $2 billion worth of ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors.

    In addition, the financial institution authorized the repurchase of shares of AIG's Common Stock, par value $2.50 per share, in an aggregate amount of up to $5 billion.
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