The global markets finished nicely higher today, led of course by how the markets in Europe traded last night. Our markets finished higher by about 1.5%, with technology and financial stocks leading the way. Another reason for the positive action today was because of some positive comments that the Treasury Secretary Tim Geitner made this morning in an interview where he discussed how he doesn't believe the financial issues in Europe will be as bad as some are forecasting.
In another interesting bit of news, the most popular social website in the world (drumroll please...FACEBOOK) has decided to postpone their Initial Public Offering until 2012; an Initial Public Offering (IPO) is when a company decides that they want to sell company stock shares to the general public. So just like someone can own stock in Microsoft, which means that person actually "owns" part of microsoft, when the Facebook IPO takes place people will also be able to own a small part of the company. Facebook made that decision based on the all around uncertainty in the marketplace and thought it would be better to wait until next year....sorry Facebook fanatics!
