Dow Finishes 10-Day Winning Streak; US Inflation Highest in Three Years (AAPL, JPM)

Weekly Wrap Up

The Dow Jones Industrial Average extended what became its longest advance in over sixteen years this week. On Friday the Dow retreated slightly, ending its ten-day gain and the S&P also neared its record close. Oil and natural-gas futures both rose for the week as investors took in recent data that showed a drop in US consumer sentiment and tighter US supplies of energy. On Tuesday positive news came from the jobs industry after jobless claims dropped.
In corporate news, Apple (AAPL: Charts, News) struggled throughout the week with its falling stock, but on Friday the company saw gains after its competitor Samsung revealed its newest smartphone.
E*Trade (ETFC: Charts, News) fell on Thursday after a major investor Citadel LLC announced it would be selling off its entire stake in the company. H&R Block (HRB: Charts, News) tumbled early on due to about 600,000 problematic tax returns. More Market News

Economic News

US Consumers Unhappy About Budget Cuts
US consumers are unhappy with government spending cuts and pessimistic about the job market, their finances and overall economic growth, a survey showed on Friday. (Source: Financial Times) Click here to read the full article
US Industrial Output Up 0.7% in February
Industrial production rebounded in February after a weak report in the prior month on the back of stronger manufacturing and utility production, the Federal Reserve said Friday. (Source: MarketWatch) Click here to read the full article
Inflation Highest in More Than Three Years
Led by an expected surge in gasoline prices, consumer prices rose in February at the fastest pace in more than three years, though longer-term trends show stability, according to data reported Friday by the U.S. Department of Labor. (Source: MarketWatch) Click here to read the full article

Business News

E*TRADE Plunges After Citadel LLC Unloads its Entire Stake
Shares of online brokerage E*Trade Financial Corporation (ETFC: Charts, News) plunged this week, after the company’s largest shareholder, Citadel LLC, dumped its entire 9.6% stake of the company. Now that E*Trade’s two-time savior, which had aggresively pushed the company to sell itself, has abandoned the brokerage, is all hope lost for investors? (Source: InvestorGuide) Click here to read the full article
The US Government Unloads More GM Stock
he U.S. government recently disclosed that it had sold roughly $490 million in GM (GM: Charts, News) stock last month, rapidly accelerating its divestment from General Motors, which has been constantly ridiculed as "Government Motors" after its 2008 government bailout and reorganization. (Source: InvestorGuide) Click here to read the full article
Boeing Approved to Test Battery, Receives Large Order
Shares of the Boeing Company (BA: Charts, News) closed up +1.22 or +1.47 percent to $84.16 per share on Tuesday after hitting a five year high of $84.62 earlier in the day. Boeing stock was reacting to news that U.S. transport regulators had approved the company to test a redesigned battery for the 787 Dreamliner. (Source: InvestorGuide) Click here to read the full article

Technology Focus

Samsung Galaxy S 4's Quad-Core/Octa-Core Chipsets Are Focused On Efficiency And LTE
Much about the Galaxy S 4, Samsung’s new flagship smartphone, is the company remixing its Galaxy S III formula - with no big changes to the design or UI look and feel, and new software features such as face tracking additions like Smart Scroll and Smart Pause that add to and build on what came before. (Source: TechCrunch) Click here to read the full article
Pandora Tops Earnings as CEO Steps Down
Shares of Pandora Media (P: Charts, News) surged after the company posted better-than-expected fourth quarter earnings. However, its CEO surprisingly stepped down just as the company is starting to grow. What’s going on at this Oakland, Calif.-based company, the largest online radio company in the world? (Source: InvestorGuide) Click here to read the full article

Your Money

Bill Ackman on What Makes a Great Investment
In addition to commenting on his high-profile current investments, Pershing Square Capital’s Bill Ackman in a recent interview with Value Investor Insight describes the general company traits he looks for in both active and passive investments, why a high public profile is an important element of his strategy, whether his thesis on J.C. Penney (JCP: Charts, News) has evolved, what lessons he’s learned from a few prominent mistakes, and why his short conviction on Herbalife is as high as ever. (Source: Advisor Perspectives) Click here to read the full article
The Best Definition of Success Is the One You Never Use
Forget kaleidoscopes, forget people are like snowflakes, forget we're all individuals.There is only one real way to define success. (Source: LinkedIn) Click here to read the full article
Published on Mar 15, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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