April 11, 2014 – Business News – Financial News – Stock News –NYSE — Market News 2014
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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2014
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2014
A massive sell off dominated most headlines this week, as investors continued profit taking. Hardest hit were the so called momentum stocks, referring to high-flying popular companies like Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG), Priceline (NASDAQ: PCLN), Apple (NASDAQ: AAPL), and Tesla (NASDAQ: TSLA). In addition biotechnology companies were affected. Analysts don’t seem to think this is the end of the bull market, but rather an adjustment back to stocks with lower prices and better value.
On Wednesday, the Federal Reserve released minutes of their March 19 meeting. Policy makers agreed to drop the unemployment target as a condition for raising rates. The minutes reiterated the belief that the Fed will remain very accommodating in its efforts to keep the recovery on track.
On Thursday, jobless claims for the week ending April 5th was released at 300,000, a massive 32,000 drop from the prior week. This was the largest drop in more than 10 years and the lowest number since May 2007. China’s March exports fell 6.6%, greater than expected, however, it’s partly due to regulators removing inflated data in an attempt to make numbers more accurate.
On Friday, the Producer Price Index for March rose .5%, much higher than expectations. JPMorgan (NYSE: JPM) also said its first quarter profit fell 19% and revenue fell to $5.2 billion from $6.5 billion compared to a year ago. Markets opened lower on the news.
April 11, 2014 Weekly Stock Market Wrap up:
Alcoa Inc. (NYSE: AA)
Rite Aid Corporation (NYSE: RAD)
Bed Bath & Beyond Inc. (NASDAQ: BBBY)
Costco Wholesale (NASDAQ: COST)
Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2014
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