Market Wrap: Apple's New Device?; Bernanke the Mysophobe; Greece Inches Toward Success

Market wrap-up for March 7th

End of the Day: Dow Jones up 78.2 to 12,837.33; Nasdaq up 25.4 to 2,935.69; S&P 500 up 9.3 to 1,352.63

The following is a brief summary of events moving markets today:

• iPad: The Next Generation: Apple (Nasdaq: AAPL) held its iPad event today to largely mixed reviews. The new device will have enhanced, high-definition "Retina Display," a faster A5X processor, and 4G LTE capability, among other improvements. Basically, the debut looked similar to that of the iPhone 4S with nearly the same initial reaction.
  
  After falling 2.5 percent from the start of the event, Apple ended up moving back into positive territory before the close.
  
  
• Remember, to help control the money flow, have your bonds spayed or neutered: The WSJ reported Wednesday the Fed might perform a new "sterilized' bond buying program for further easing, if needed. The new program will be designed to subdue worries about future inflation. For more color, click here.
  
  
• Anyone order a hot, fresh set of jobs?: ADP reported the U.S. private sector added 216,000 jobs for the month of February, outpacing analyst estimates calling for the addition of 215,000 positions. The number was up from an upwardly revised January number of 173,000. Small businesses added 108,000 in the month, medium businesses added 88,000 and large businesses added 20,000.
  
  For more color, click here.
  
  
• Nearly halfway there: Greece is getting more support for its debt deal. According to news out Wednesday, the nation now has 40.8 percent of overall private debt holders willing to participate, though Greece needs 90 percent by Thursday to meet requirements. Falling shorts means Greece will miss out on about €130 billion of bailout funds and be unable to pay a €14 billion or so bond payment on March 20th.
  
  
• Bow-wow-whoops!: Pfizer (NYSE: PFE) was said to rebuff Novartis' (NYSE: NVS) bid for its Animal Health unit. Valued at anywhere between $15 billion and $20 billion, the WSJ noted Novartis' $16 billion was rejected by Pfizer, who said it was "too low." German drug giant Bayer was also said to be mulling a bid and it wasn't immediately clear whether Novartis would make another go.
  
  Despite the interest, Pfizer might simply spin-off the business unit, with a spokesperson saying Pfizer would make a decision on the unit later this year.

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