Expansionary Chinese Monetary Policy Pushes Markets Up (FB, LOW)
Chinese Premier Wen Jiabao promised an expansionary policy in order to stimulate the country's consumption, and markets responded positively after three weeks of losses. In corporate news, Facebook (FB) disappointed today as its stock dipped over 10 percent below its initial IPO price. Meanwhile, Lowe's (LOW) saw sales fall in Q1 and was punished in the markets for it.
Word on the Street
- Major Indices ended three weeks of continual losses today.
- Facebook's (FB) stocks fell below their IPO price.
- AMC Entertainment holdings will be purchased by a Chinese company.
- Lowe's (LOW) shares fell by almost 10 percent on poor Q1 sales.
- Campbell Soup's (CPB) Q3 profits fell over 5 percent.
- Economists are forecasting a 7.5 percent unemployment rate by next year.
Published on May 21, 2012By InvestorGuide Staff