Dow Jones Sees 14,000 Points for the First Time Since Oct. 2007

Weekly Wrap Up

This week important data was released regarding the jobs market and plans from the US government for future policy. GDP contracted more than was forecast but the addition of 157,000 jobs in January suggests that the labor market was improving towards the end of 2012. During the week the Federal Reserve announced that it would continue its loose monetary policy with bond purchases of $85 billion per month. Also, a short-term extension of the debt ceiling was approved by the US Senate on Thursday.

The major indices made strong gains this week.
By Friday the Dow Jones was above 14,000 points for the first time since 2007 and all three major indices in the US had large gains. For the week oil futures gained 2% on the latest data from the jobs market, consumer sentiment, and the outlook for demand. More Market News

Economic News

Jobs Data Propel US Markets
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email to buy additional rights. US economy added more jobs than previously announced in 2012’s final months, sending equity markets higher and briefly pushing the Dow Jones Industrial Average of blue-chip shares above 14,000 for the first time since 2007. (Source: Financial Times) Click here to read the full article
Price Gains Signal US Housing to Boost Growth
Home prices in 20 U.S. cities rose in the 12 months to November by the most in more than six years, showing the housing market will play a more central role in the U.S. economic expansion this year. (Source: Bloomberg) Click here to read the full article
Consumer Confidence in US Falls to Lowest Level Since 2011
Confidence among U.S. consumers declined more than forecast in January, reaching the lowest level in more than a year as higher payroll taxes took a bigger bite out of Americans’ paychecks. (Source: Bloomberg) Click here to read the full article

Business News

Pfizer Gains on Sale of Nutrition Business
Shares of Pfizer Inc. (PFE: Charts, News) closed up +0.86 or +3.2 percent to $27.70 per share on Tuesday after the company released positive fourth quarter earnings. The improved earnings were in large part attributed to the company’s sale of its nutrition unit to Nestle last year. (Source: InvestorGuide) Click here to read the full article
Dunkin' Brands Rallies on Strong 4Q Earnings
Shares of Dunkin’ Brands (DNKN: Charts, News), the parent company of Dunkin’ Donuts and Baskin Robbins Ice Cream, rallied on Thursday despite posting a decline in revenue that missed Wall Street estimates. For its fourth quarter, Dunkin’ Brands reported revenue of $161.7 million, down 4% from the prior year quarter and below the average analyst forecast of $170.9 million. (Source InvestorGuide) Click here to read the full article
Ford Slides Despite Finishing 2012 on a Strong Note
This Tuesday, shares of Ford Motor Company (F: Charts, News) slid despite solid fourth quarter numbers from the Dearborn, Michigan-based automaker. Ford reported earnings of 31 cents per share on revenue of $36.5 billion, easily topping estimates on both top and bottom lines. For the full year, Ford reported earnings of $1.41 per share on revenue of $134.3 billion, also beating the consensus forecast of $1.35 per share on $125 billion in revenue. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Microsoft Posts Mixed Second Quarter Earnings
Microsoft (MSFT: Charts, News) reported earnings last week, narrowly topping analyst estimates for profit but missing on revenue. For its second quarter, Microsoft posted earnings of 76 cents per share, or $6.4 billion, on revenue of $21.46 billion. (Source: InvestorGuide) Click here to read the full article
Amazon Gets Boost on Profitability Surprise Inc. (AMZN: Charts, News) reported weaker-than-expected sales for the fourth quarter on Tuesday, but online retailer’s shares got a strong bounce from its surprisingly strong operating income results for the period. (Source: MarketWatch) Click here to read the full article

Your Money

Bill Gates: My Plan to Fix the World's Biggest Problems
We can learn a lot about improving the 21st-century world from an icon of the industrial era: the steam engine. (Source: Wall Street Journal) Click here to read the full article
Congratulations Crunchies Winners! GitHub Wins Best Overall Startup
And like that, The 6th Crunchies Annual Award Show is in the bag. John Oliver provided a night of laughs while TechCrunch, GigaOm and Venture Beat jointly handed out 20 awards to the best and brightest startups, founders and venture capitalists. (Source: TechCrunch) Click here to read the full article
Published on Feb 1, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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