U.S. stocks looked to further their recovery from last week’s big losses at Monday’s opening bell. Before the bell, investors got the latest tap into the American consumer. Personal income in February came in above expectations, rising 0.4% and Americans decided to save that money. The saving rate rose 5.8% to the highest level since December 2012. The Commerce Department’s report showed consumer spending, however rose just 0.1% last month, less than economists expected. Yahoo (YHOO) and Microsoft (MSFT) decided to push back the deadline to renegotiate their 10-year search deal by about a month. The tech giants joined forces in 2010 to better compete against Google (GOOG). Yahoo’s CEO Marissa Mayer has expressed her dissatisfaction with the terms of the partnership. In an effort to consolidate and cut cost, Best Buy (BBY) is shutting down stores in Canada. The move will cut 1,500 jobs across that country.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
