Interest rates on Treasuries are soaring, and big news about the iPhone. Those stories and more are what's in Friday's Market Minute.
Stocks edged higher Thursday, as investors were cautious ahead of Friday's jobs report. The Dow Jones industrial average (^DJI) added 6 points, the Standard & Poor's 500 index (^GPSC) gained 2 and the Nasdaq composite index (^IXIC) rose 9.
Keep an eye on the Treasury market today. The yield on the government's 10-year note briefly topped 3 percent this morning, for the first time in more than two years. That's potentially good news for savers.
Apple (AAPL) is reportedly working on iPhones that will have screens much larger than the current 4-inch models. The Wall Street Journal says the company is evaluating phones with screens ranging from 4.8 inches to as large as 6-inches. These aren't part of the new phones the company is expected to unveil next week, but future projects.
The Journal also reports that California homebuilder Shapell Homes has narrowed down its list of potential bidders. Toll Brothers (TOL), Standard Pacific (SPF) and Brookfield Homes are on the list. Shapell is likely to fetch about $1.5 billion.
Timken Co. (TKR) has succumbed to pressure from an activist investor, and will spin-off its steel-making business. Timken will continue to operate its ball bearings unit. Timken shares have jumped more than 50 percent since the investor group began pushing for the split last November.
JPMorgan Chase (JPM) is getting out of the business of making student loans. That leaves Wells Fargo (WFC) as the only major commercial bank still making student loans. The U.S. government now provides about 85 percent of new loans for college.
Shares of Quiksilver (ZQK) are good as gold today. They're set to soar after the retailer of outdoor sports apparel reported earnings that more than doubled Street expectations.
But another retailer, Zumiez (ZUMZ), is headed in the opposite direction after warning that earnings will fall short of expectations. And gun maker Smith & Wesson (SWHC) shot itself in the foot. Earnings jumped 49 percent, but it too issued a disappointing outlook.
-Produced by Drew Trachtenberg.
Apps That Manage Your Money For You
Market Minute: Apple Mulls Big-Screen iPhones; Treasury Rates Set to Soar
Mint made the Mac App Store's Best of 2012 list for a reason. This simple, clean app shows how much you are spending in each category of your budget by monitoring all of your transactions. We love signing in and getting a quick, dirty rundown of where our money has gone over the last week, and using their personalized budget tools to stay on track. We highly recommend adjusting your budgets for summer months. You might spend less on transportation when the weather is nice, and chances are you could use that extra cash to flesh out that restaurant tab, right?
This is the all-in-one financial organizer. Manage all of your accounts, from credit cards to magazine subscriptions, in one place and even make custom accounts for your rent or cleaning service. Get reminders for bill payments, and monitor all of your travel reward points, too. You'll always know what you owe, how much money you have and can plan for upcoming bills and expenses without having to sift through tons of paperwork.
If you want to isolate the expense tracker function of Mint in a super simple day-to-day app, then DailyCost is a great buy. A wide variety of categories lets users input all of their daily expenses. Holding your phone horizontally, you will be able to see graphs and statistics on your spending. The app also tracks your weekly and monthly spending by category and can be backed up to iCloud for Mac users, so you'll never lose your data.
If you're a heavy traveler, Toshl is an excellent expense and budget tracker. It works with any currency and lets you separate your travel budget from your day-to-day expenses. It comes with all the trappings of a regular money management app, too, such as bill organizer and alerts, and can be synced across all your devices.
Next time you organize a group activity, Tricount will split up the expenses for you. Create the expense report on your phone and organize by person, how much they owe, and then share via email so everyone knows their share. With options for expenses, balance, share, and configuration, the app does all of the math for you.
Never miss a bill payment again. This app reminds you when your payments are due, and lets you pay on the spot from a bank account or credit card, or you can schedule a payment for the future. Connect all of your accounts to the encrypted app and then view them all in one place for easy access and payment options. You'll never overdraft or miss a payment again.
Make and share payments with friends. This app uses the same technology to pay as LivingSocial, Uber and Airbnb. Pay with your debit card or transfer funds from a linked bank account, right to a friend's Venmo account. It is Verisign Certified.