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

By: , dated July 13th, 2012
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.
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