Markets finish the week on a high note, recording gains across the board, nearing the best week of the year. Friday’s forward movement is courtesy of rumors Spain will finalize bailout negotiations within the next week or so. The troubled country is expected to officially request help from the European Union on Saturday. In corporate news, Chesapeake Energy (CHK) is selling $4 billion worth of pipelines to help relieve more than a $20 billion cash shortfall. McDonald’s (MCD) reported an increase in sales for May despite a decrease in the Asian market, which has helped power them through recent periods.
Word on the Street
- Spain bailout terms to be settled within a week, according to reports.
- Chesapeake Energy (CHK) sells $4 billion worth of pipelines in wake of $22 billion cash shortfall.
- McDonald’s (MCD) sales rise in May despite declines in major Asian markets.
- US wholesale stockpiles rose faster in April than originally expected.
- ComScore report supporting Facebook (FB) ads sends shares up.
- Judge dismiss patent fight between Apple (AAPL) and Motorola (MOT).