Small Weekly Gains Ahead of Dry Summer of Trading (FB, WMT)

Weekly Wrap Up

A week headlined by wild swings in Facebook's stock ends relatively flat as investors look ahead toward the summer. After a controversial debut last Friday, Facebook's (FB: Charts, News) stock continued to slide throughout the week, finishing the week slightly below $32. Concerns over valuations and investor anger has resulted in investigations being launched by the SEC.In economic news, US consumer sentiment rose to it's highest level since 2007, a ray of sunlight for our troubled economy.
In addition, economists are predicting an unemployment rate as low as 7.5%. More Market News

Economic News

Consumer Sentiment In U.S. Climbs To Highest Since 2007
Consumer confidence rose in May to the highest level since October 2007 as Americans became more upbeat about the prospects for employment.
The Thomson Reuters/University of Michigan final index of sentiment climbed to 79.3, the ninth straight increase, from 76.4 the prior month. The gauge was projected to hold at the preliminary reading of 77.8, according to the median forecast of economists surveyed by Bloomberg News. (Source Bloomberg) Click here to read the full article
7.5% unemployment by end of 2013: economists
By the end of next year, the unemployment rate will be at 7.5 percent. Consumer spending will be up, as will housing starts. But first, the economic recovery needs to slog its way through the remainder of 2012, economists said.Monthly non-farm job growth will grow to 188,000 a month by the end of this year, up from 115,000 in April. That will cause the jobless rate to slide minimally to 8 percent by the fourth quarter from 8.1 percent now, according to a survey of 54 economists by the National Association for Business Economics. (Source Indy Star) Click here to read the full article

Business News

Investors still fuming over Facebook IPO fumbling
The week that has passed since Facebook's (FB: Charts, News) fumbled IPO has done little to quiet the controversy and discontent surrounding the biggest IPO in financial market history.By tumbling from their initial offering price - rather than skyrocketing, as many hoped - the current value of Facebook's shares has triggered a litany of regulatory probes and lawsuits in response to investor ire. (Source USA Today) Click here to read the full article

Walmart Express turns profit in less than a year
Wal-Mart Stores IncWMThas seen its small-format U.S. stores, called Walmart Express, become profitable in less than a year, Walmart U.S. Chief Executive Bill Simon said on Wednesday.Walmart, best-known for large supercenters, opened its first Walmart Express store in Arkansas last June, part of its effort find new ways to reach areas of the country that are less suitable for "big box" stores. It now has about 10 of the stores in markets such as Chicago as well as rural spots in Arkansas and North Carolina. (Source Reuters) Click here to read the full article

Technology Focus

Apple to release "most important product we’ve done"
Apple’s (AAPL: Charts, News) chief designer and scion of cool Jonathan Ive told London paper the Telegraph that neither the iPad nor the Macintosh nor the iPhone is the most important product the company has ever done. (Source Fox News) Click here to read the full article
Is Siri Spying On You?
Using Siri is like having a know-it-all friend you can carry around in your pocket. But, you might need to be concerned with what this "friend" knows about you or how it might use that information behind your back.The virtual personal assistant feature of Apple’s iPhone 4S enables you to interact conversationally with the smartphone. Just watch some of the recent commercials featuring Samuel L. Jackson, Zooey Deschanel, or John Malkovich for examples of the sort of banter Siri is capable of. (Source PC World) Click here to read the full article

Your Money

7 Reasons Why Facebook IPO Was A Bust
1. Too late. Facebook‘s (FB: Charts, News)shares have been dead in the water for the last 12 months. Private investors had already bid up Facebook to a $100 billion value a year ago. (Source Forbes) Click here to read the full article
Barack Obama, private equity king
If we’re going to fight all year about the Larger Significance of private equity, it would be nice if we could move beyond dueling cartoons. The clash between "Bain personifies capitalism’s heartless evil run amok" and "Bain exemplifies the ‘creative destruction’ that is capitalism’s genius" offers little insight for those not already addled by ideology. Since a subtler assessment of private equity’s pros and cons stands no chance of finding expression on the campaign trail, let me offer an idiosyncratic guide to the terrain as the Bain wars heat up. (Source Washington Post) Click here to read the full article
Published on May 25, 2012
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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