After a Four Day Slump Stocks Hit a Three-Month High on Friday (GMCR, NITE)
PUBLISHED ON: Aug 3, 2012
After a four day stock slump this week, the markets finally rallied on Friday to hit three-month highs. The US jobs report was released saying that 163,000 jobs were added in the month of July--a figure that was more than estimated. AIG is set to sell $4.5 billion in stock to the US government and Knight Capital (NITE) saw surging stock after Ameritrade (AMTD) and Scottrade agreed to resume trades. Green Mountain Coffee's (GMCR) third quarter net jumped 30% and Blue Nile (NILE) also saw soaring earnings around 33%.US oil futures have risen above $91 per barrel. The euro made small gains against the dollar while the dollar increased against the Japanese yen.
Word on the Street
- July's new job report was better than expected, sending stocks higher on Friday.
- TD Ameritrade (AMTD) and Scottrade decide to resume routing trades to Knight Capital Group (NITE).
- Apple (AAPL) and Samsung patent trial continues with the testimony of senior exec Shiller.
- US government plans to buy $4.5 billion in AIG (AIG) stock.
- EA announces lawsuit against Zynga Inc. for copying key elements of its "Sims" game in "The Ville."
- Walgreens Co. (WAG) agrees to expand its corporate offices and will create 500 new jobs.
- Crude rises about 5% to just over $91 per barrell.
- DuPont (DD) Loses a $1 Billion Settlement to Monsanto (MON).
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Posted in ...Daily Market Commentary