Market Wrap: Starbucks Goes Tea Crazy; Markets Continue Post-Election Drama; FOMC Eyes More Easing; Hedge Funds' Q3 Holdings

Market wrap-up for November 14th

End of the Day: S&P 500 down 19.0 to 1,355.49; Dow Jones down 185.23 to 12,570.95; Nasdaq down 37.1 to 2,846.81

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

• More 'woes' than you can shake a stick at: U.S. markets are continuing along their downward path as elections have ended and the fiscal cliff is closing in. Since the close on November 6th, the S&P 500 is down 5.1 percent, the DJIA is down 5.1 percent, and the Nasdaq is down 5.5 percent.
  
  
• Hmm..good thing they didn't name it 'Operation Last Bond-Buying Program': The FOMC said that some members saw the need for additional quantitative easing following completion of Operation Twist at the end of 2012.
  
  Further discussion centered around whether or not the committee should hold its key interest rate at zero to numerical measurements of unemployment or simply specify a calendar date at which rates will remain low. Participants generally favored the former measure.
  
  For more color, click here.
  
  
• What's the workforce at again? Okay, we'll do 70: Goldman did its bi-annual partner picking today, opting to add 70 new delegates to the illustrious list. The number compares with prior appointments of around 100 to 110.
  
  Despite the drop from prior years, the total partner level is equivalent to 1.7 percent of Goldman's overall staff, a range Goldman generally likes to maintain. The percentage is maintained as total staff is down 8 percent from last year, to about 32,600 employees.
  
  Partners come from all over the globe, with 59 percent from the Americas, 29 percent in Europe, and 13 percent in Asia and the Pacific.
  
  
• Now, the undisputed masters of putting hot water through dried, earthy goods: Starbucks (Nasdaq: SBUX) will acquire Teavana Holdings, Inc. (NYSE: TEA) for $15.50 per share, or total transaction value of about $620 million. For more on the deal, Click here.
  
  
• Hedge funds are buying and selling like crazy!: To see what titans like Buffett, Mandel, Cohen, Tepper, Einhorn, and more did in 2012's third quarter, click here.
  
  
• Because Craigslist is so trustworthy: Monster Worldwide (NYSE: MWW) said it has received no bidders so far. The company originally sought about $10 per share and was looking to announce a deal by the end of October. Today, Facebook launched a Social Jobs app, which Monster click here.
  
  
• Try the new Windows Phone Ennui!: Latest data from Gartner saw few changes with global smartphone dominance in the third-quarter, save for one: Nokia (NYSE: NOK). Gartner said the Espoo, Finland-based mobile giant fell to 7th spot from 3rd in the second quarter, as fewer and fewer users opted to purchase Windows Phone devices.
  
  For more color on the numbers, click here.

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