S&P Has 9th Week of Gains Out of 10; Jobs Data Lifts Dow

Weekly Wrap Up

For the week stocks made big gains, leaving the S&P just 14 points from its all-time closing high - it was its 9th weekly gain out of ten. The Dow hit its fourth straight record high on Friday. February non-farm payrolls were released, drastically exceeding expectations. The unemployment rate fell to 7.7% which is the lowest since December 2008. After this news the dollar finished close to a four-year high against the yen and a three month high against the euro.

Several large banks saw shares fall after the Fed released results from their most recent "stress test." JP Morgan (JPM: Charts, News) and Morgan Stanley (MS: Charts, News) both dropped while Citigroup (C: Charts, News) increased 2%.
Facebook (FB: Charts, News) caused a stir this week with the release of its new News Feed. Foot Locker, Inc. (FL: Charts, News) fell 5.1% towards the end of the week after releasing their earnings report. More Market News

Economic News

Unemployment Rate Down As Americans Give Up On Work
The U.S. unemployment rate is down, but that is because many Americans have given up looking for a job. (Source: Forbes) Click here to read the full article
Jobs Lift Dow to Record, S&P Up for 9th Week Out of 10
Stocks extended their advance on Friday, with the Dow hitting yet another record and the S&P climbing for its sixth straight day after a payroll report that was much stronger than expected. (Source: Reuters) Click here to read the full article
Service Industries in U.S. Grow at Fastest Pace in a Year
Service industries in the U.S. expanded in February at the fastest pace in a year as a recovery in housing rippled through the economy. (Source: Bloomberg) Click here to read the full article

Business News

Five Stocks to Watch in March
A tenable recovery in the United States economy has made the first quarter of 2013 beneficial to many investors in the stock market. The Dow Jones Industrial Average made an all-time high of 14,221 Tuesday morning, beating the previous high made on October 9th, 2007. (Source: InvestorGuide) Click here to read the full article
Smith & Wesson Plunges on Assault Rifle Ban Fears
Shares of gun manufacturer Smith & Wesson (SWHC: Charts, News) plunged this week, despite reporting third quarter earnings that surprisingly more than tripled from the prior year quarter. The Springfield, Massachusetts-based company posted a profit of 26 cents per share, or $14.6 million, a 228% increase from the prior year quarter. Revenue rose 38.8% to $136.2 million. (Source: InvestorGuide) Click here to read the full article
PetSmart Plunges on Bleak Guidance for 2013
Shares of PetSmart (PETM: Charts, News) plunged after hours on Wednesday, after the company reported robust fourth quarter earnings that were soured by downbeat guidance which missed analyst estimates. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Pandora Tunes in Good Q4 Despite Royalty, Mobile Challenges
Pandora (P: Charts, News) isn't having any problems growing subscribers and remaining at the top of the streaming music company charts, as shown in fourth quarter earnings that beat analyst estimates. It's the potential for sour notes ahead due to the continuing challenges in paying music companies for royalties, as well as figuring out the mobile revenue songbook. (Source: Ecommerce Times) Click here to read the full article
Facebook Revamps News Feed Design
Facebook Inc. (FB: Charts, News) on Thursday unveiled a new design for the social site’s key news feed feature in a bid to keep pace with the habits of its more than one billion users. (Source: MarketWatch) Click here to read the full article

Your Money

An Interview with Jim Rogers
Jim Rogers is an investor, author, and Chairman of Rogers Holdings and Beeland Interests, Inc. He is the creator of the Rogers International Commodities Index (RICI), and co-founder of the Quantum Fund. (Source: InvestorGuide) Click here to read the full article
The Burn Rate vs Growth Tradeoff (Part I)
When talking with entrepreneurs, I am regularly asked the question "how fast should I be growing?" Often this is just because the CEO is trying to understand market expectations, but in the best cases it’s legitimately because the CEO has a number of dials she or he can use to alternate between growth and cash consumption. There are a couple of easy answers to the question such as "as fast as you can!" or "well, your comps were able to grow at 75% at your stage…" (Source: LinkedIn) Click here to read the full article
Published on Mar 8, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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