Nasdaq Nears 12-Year High on Solid Earnings Reports (LNKD, MCD)

A string of economic reports was released on Friday, including data that showed the US trade deficit fell nearly 21% in December to $38.5 billion, the largest drop in three years. Also, wholesale inventories unexpectedly fell in December, a negative signal for economic growth in the US. A group of European leaders met today to discuss the spending budget for the EU, and agreed to a slightly smaller amount for the next seven years. In corporate news, both AOL (AOL) and LinkedIn (LNKD) saw shares rise after releasing Q4 earnings.
Moody's (MCO) fell by 8.5% despite reporting higher Q4 profits from one year ago. McDonald's (MCD) stated that their sales in January fell by 1.9% due to a decline in the Asian markets. The yen had a good day after Japan's finance Minister Taro Aso made comments about the curreny's recent fast-paced drop. Towards the end of the day trading became lighter on Wall Street as focus was placed on the incoming blizzard in the Northeast.

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Published on Feb 8, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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