Weak Asian Data Overshadows Markets, S&P Maintains Streak

The markets were overshadowed by Chinese data today after the country signaled a slowing economy. Due to Asian declines investors and turning towards hopes of policymaker stimulus action even more. Big news came from JC Penney (JCP) whose shares rose despite negative earnings. This comes from high expectations of the company's recently hired Ron Johnson, a former Apple (AAPL) employee. Goldman Sachs Group (GS) who will not be charged by the Justice Department for allegations of deceit.
The USDA warned that the current US drought, the worst in at least half a century, will most likely cause food prices that break records. The S&P 500 continued its streak of positive gains through Friday.

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Published on Aug 10, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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