The iphone 5 is expected to ship on Friday and analysts predict that as many as 10 million units will be sold before the end of the fiscal year. Analysts also predict that the iPhone 5 may sell as many as 250 million units in its lifetime. This could make the iPhone one of the most successful products Apple has ever launched.
Rumors of a potential release from the Strategic Petroleum Reserve continued to circulate pushing oil prices lower today. Brent traded higher for seven sessions in a row before falling yesterday and today.
Things to look for this week:
Wednesday- Weekly mortgage apps, housing starts, existing Home Sales, AutoZone, General
Mills, Adobe Systems, Bed Bath & Beyond
Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.
Friday- iPhone 5 Ships.