Markets Rally as Speculation Grows that China and Europe Will Boost Stimulus Efforts, JPM Surges

Markets surged 1.5 percent on Friday as investors felt renewed hope that China and Europe will boost their stimulus efforts. China reported a lower than expected 7.6 percent GDP figure, marking its slowest growth in 3 years, which has many believing that the government will step in and try to jump start its economy. Shares of JPMorgan Chase & Co. (JPM) surged 5.8 percent as CEO Jamie Dimon said the company would likely see record earnings this year even after reporting a $4.4 billion trading loss in Q2. The S&P 500 erased all of its losses from earlier in the week after trading up 1.65 percent Friday.

Word on the Street

Interesting Tidbits

  • The Gmail logo was designed the night before it was launched.
  • Microsoft (MSFT) made just $16,005 in revenue in its first year of operation.
Published on Jul 13, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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