Several Days of Gains this Week; Jobless Rate Drops to 7.8%

Weekly Wrap Up

By Friday both the Dow Jones and S&P 500 were on course to hit five-year highs after positive unemployment rate data in the US. Despite the positive end to the week, many say that the market may struggle in the near future to make third-quarter earnings progress. Also this week it was reported that the service sector showed increased activity and gold hit an eleven-month high as well. Many were focused on the euro zone and the possibility of a Spanish bailout, but as of now the request has been deterred.In corporate news, Hewlett-Packard (HPQ: Charts, News) reported a bleak revenue forecast and saw shares drop sharply.
Towards the end of the week Zynga Inc. (ZNGA: Charts, News) cut their forecasts for a second time sending both their stock and shares of Facebook (FB: Charts, News) down. Next week begins the start of quarterly earnings reports. More Market News

Economic News

Jobless Rate Falls to 7.8%, Lowest Since January 2009
The nation’s unemployment rate dropped sharply to 7.8 percent in September, its lowest level since the month President Obama took office, the Labor Department said Friday. (Source: NYTimes) Click here to read the full article
Gasoline Prices Set to Rise Through Election Day
Retail gasoline prices, already at the highest levels on average since July 2008, are likely to continue to climb this month as refinery and pipeline problems overshadow weakness in U.S. consumer demand. (Source: CNBC) Click here to read the full article
Spain Deterred From Bailout Request as EU Questions Deficit Plan
Spain has been deterred from triggering the currency union’s rescue mechanisms because of concerns about how, and even whether, the process would work, Deputy Prime Minister Soraya Saenz de Santamaria said today. (Source: Bloomberg) Click here to read the full article

Business News

H-P Missed the Boat, Whitman Can't Change That
Now that Wall Street has given the collective thumbs-down to Chief Executive Meg Whitman’s one-year anniversary conference call with analysts, I hope investors realize that a turnaround of Hewlett-Packard Co. (HPQ: Charts, News) in its current form is not within her grasp. (Source: MarketWatch) Click here to read the full article
BAE Systems - Deal With EADS Puts Dividend Under Threat
Several weeks ago, BAE Systems (BAESY: Charts, News) announced that it is in discussions regarding a potential 'merger' with the European civilian aircraft and weapons manufacturer, EADS (EADSY: Charts, News). (Source: Seeking Alpha) Click here to read the full article
Xyratex Shares Hit After Hours Following Results
Shares of Xyratex Ltd. (XRTX: Charts, News) slid Tuesday evening after the data storage-systems company posted quarterly results that missed Wall Street’s targets and forecast a loss for its current quarter. (Source: MarketWatch) Click here to read the full article

Technology Focus

Zynga, Facebook Slide; Tech Stocks Rally
Technology stocks got a solid boost from the chip sector Friday, though Zynga Inc. (ZNGA: Charts, News) shares crashed following the latest warning from the social game maker - which sparked selling, albeit on a lesser scale, in Facebook Inc. (FB: Charts, News) as well. (Source: MarketWatch) Click here to read the full article
Facebook Hits Billionth User, Reveals First Major Ad From Global Agency of Record
Facebook (FB: Charts, News) has reached a striking if inevitable milestone -- its active user base is now a billion strong, up from 900 million in April just before its IPO -- and it's commemorating that achievement with a brand ad designed to both celebrate those who log on every day and to spread the Facebook gospel as part of the tougher task ahead: reaching the next billion users. (Source: Ad Age) Click here to read the full article

Your Money

Brace For Worst Earnings Since Recession Rebound
This earnings season threatens to be one of the roughest since U.S. companies started to pull themselves out of the Great Recession - even if, as usual, results don’t live up to the worst of the gloom-and-doom forecasts. (Source: MarketWatch) Click here to read the full article
The Secret to Making Your Business Work For You
Most entrepreneurs look at their business the wrong way. They slave away for long hours, doing everything in their power to make every detail of the business run just right. (Source: Daily Muse) Click here to read the full article
Published on Oct 5, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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